Need to catch up on business news in Southwest Florida? No problem. Here are the top stories of the week pulled from our daily newsletter, Gulfshore Business Daily.
Friday, July 20
Inaugural College Basketball Tournament Scheduled
Four men’s college basketball teams from America’s top conferences will compete in the inaugural Fort Myers Tip-Off from Nov. 19-21 at Suncoast Credit Union Arena. The early season tournament field includes the Boston College Eagles of the Atlantic Coast Conference (ACC), the Loyola Chicago Ramblers of the Missouri Valley Conference, the Richmond Spiders of the Atlantic 10 Conference and the Wyoming Cowboys of the Mountain West Conference. The Fort Myers Tip-Off has been launched by Intersport in collaboration with Lee County, and it will highlight the Southwest Florida community to a national television audience when it airs on FS1, according to a press release. The Fort Myers Tip-Off will begin on Nov. 19 when Loyola meets Richmond at 6:30 p.m. and Boston College meets Wyoming at 9 p.m., marking the first time these schools have met in their storied histories. Losing teams will compete for third-place at 5 p.m. on Nov. 21, while the winning teams will advance to the championship game that will conclude the tournament at 7:30 p.m. that evening. All four games will be televised live. Travel packages for the 2018 Fort Myers Tip-Off are now available. Packages include tickets to all four games, accommodations at the official team hotels, ground transportation, and more. For more information on travel packages, visit https://www.fortmyerstipoff.com/tickets.
Thursday, July 19
Blue Chip Keynote Speaker Announced
Motivational speaker Dave Stevens has been selected as the keynote speaker for the 24th Annual Southwest Florida Blue Chip Community luncheon. Sponsored by McGriff Insurance Services and BB&T Bank, the event will take place from 11 a.m. to 1 p.m. on Nov. 1 at Hyatt Regency Coconut Point Resort and Spa in Bonita Springs. During the event, small business owners in Lee, Collier and Charlotte counties who have overcome adversity to achieve success will be recognized. For information on the Blue Chip luncheon or to submit an application, contact Stacey Mercado at (239) 433-7189 or SMercado@mcgriffinsurance.com. Stevens, who was born with two flipper-like appendages where his legs should be, has an accomplished athletic career and worked at ESPN for more than 20 years. He is an ambassador athlete for the Dave Clark Foundation and a member of the Wounded Warrior Amputee Football Team. To learn more about him, visit https://davestevensspeaks.com.
Wednesday, July 18
Lee Veteran Services Outreach Expands
Lee County Veteran Services is offering a new, monthly outreach program in Lehigh Acres and Pine Island for veterans, their dependents and surviving family members. Lee County Veteran Services counsels and educates veterans, their dependents and survivors on the potential benefits available to them from the Department of Veterans Affairs as well as other governmental agencies. Guidance is offered in areas such as compensation, pensions, education, survivor benefits and more. The Lehigh Acres program is located at the Lehigh Acres Senior Center. A Veteran Service Officer is there from 9 a.m. to 1 p.m. on the third Wednesday of each month. The Pine Island program is located at Beacon of Hope. A Veteran Service Officer is there from 9 a.m. to 1 p.m. on the first Friday of each month. Veterans, as well as survivors, can call (239) 533-8381 to schedule an appointment in Lehigh Acres and (239) 283-5123 in Pine Island. Walk-ins also are welcome. The contact at the Senior Center is Melissa Barry at (239) 369-5355. The contact at Beacon of Hope is Betsy Haesemeyer at (239) 283-5123.
Tuesday, July 17
MY Shower Door Named Top Trade Partner
MY Shower Door has been named a Top Trade Partner by Glass Magazine, a glass industry trade periodical. MY Shower Door made the list at No. 8 in North America. As part of the 2018 Top Glass Fabricators annual survey, Glass Magazine asked leading fabricators to nominate exceptional glazing partners with whom they had worked with during the previous year. From those nominations, Glass Magazine compiled the inaugural list of Top Glazier Partners. The survey was conducted in the U.S. and Canada with only 10 partners in North America being recognized. Owned by the Daubmann family, MY Shower Door opened their first frameless shower door showroom in Southwest Florida in 2003. Since then, MY Shower Door has grown to seven Florida showrooms with more than 90 employees. For more information, visit www.MYShowerDoor.com.
Monday, July 16
Naples No. 2 Fastest Growing Luxury Market
The Collier County area, specifically Naples, was ranked No. 2 in the Top 10 Fastest Growing Luxury Markets, according to the Realtor.com June 2018 Luxury Home Index released on July 12. The index analyzes the entry-level luxury price tier, defined as the top 5 percent of all residential sales, in 91 U.S. counties. In Naples, the luxury sale price (top 5 percent of sales) has topped $1.674 million, with a 15.9 percent increase over last year, the report shows. The Naples area came behind Sarasota County in Sarasota, where the luxury sales price was defined as $1 million, with a 19.7 percent increase over last year. For more information, click here.
Publicly traded companies
BBGI to Acquire Philadelphia Station
Beasley Broadcast Group Inc. (BBGI) has entered into a definitive agreement to acquire WXTU-FM in Philadelphia from Entercom Communications Corp. for $38.0 million in cash. Excluding one-time transaction costs, the acquisition of WXTU-FM is expected to be immediately accretive to Beasley’s free cash flow without materially altering the company’s leverage. Beasley intends to fund the acquisition through borrowings under its credit facility and cash generated from operations. The acquisition of WXTU-FM highlights Beasley’s focus on local programming and content and is complementary to the company’s six other radio stations and digital operations in the Philadelphia market, the ninth largest designated marketing area in the country. Beasley will begin operating the station under a local marketing agreement on July 23. The transaction, expected to close during the late third quarter or fourth quarter of 2018, is subject to Federal Communications Commission approval and other customary closing conditions.
In other news…
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