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Preview: Orlando Business News - Local Orlando News | The Orlando Business Journal

Orlando Business News - Local Orlando News | The Orlando Business Journal

View Breaking Local News Headlines in Orlando from the Orlando Business Journal. Access business resources, company profiles, business advice columns, local jobs and more.

Published: Mon, 24 Apr 2017 17:27:34 +0000

Copyright: American City Business Journals, Inc. and its licensors. All rights. reserved.

Harris Corp. awarded part of $875M Air Force contract

Mon, 24 Apr 2017 16:27:02 +0000

(image) Harris Corp. is one of seven companies awarded a five-year, $875 million multi-award contract by the U.S. Air Force for cryptographic and information assurance products, including support throughout their life cycles. Orders may include a broad range of work for the different phases of the contract, such as material solutions analysis; technology development; technology maturation and risk reduction; preliminary design, engineering and manufacturing development; and production and sustainment. The…

Millenia-area apartment complex sells for $43.6M

Mon, 24 Apr 2017 15:04:53 +0000

(image) A Michigan company spent $43.6 million to buy a 16-year-old Millenia-area apartment complex, Orange County property records show. Palio Apartments LLC, an entity that appears to be related to Ann Arbor, Mich.-based McKinley Inc., on April 18 spent about $136,250 per unit to buy the Middlebrook Farms Apartments complex at 4000 Middlebrook Road in Orlando from Chicago-based Stoneleigh Cos. LLC's SC Middlebrook LP. Stoneleigh Companies in 2013 bought the 320-unit property off Conroy Road between Vineland…

SunTrust names new Central Florida division president

Mon, 24 Apr 2017 14:55:43 +0000

(image) SunTrust Banks Inc. (NYSE: STI) has named Scott Cathcart as Central Florida division president of the region's largest bank. Cathcart succeeds Arnold Evans as division president effective May 1. Evans transitioned to a senior position in SunTrust's enterprise risk organization on April 3. Cathcart currently serves as a senior vice president and corporate finance specialist in commercial and business banking at SunTrust, and will now report to Allison Dukes, a commercial and business banking executive.…

Airsoft gun range may be built in Seminole County

Mon, 24 Apr 2017 14:40:20 +0000

(image) An airsoft gun range company is targeting Seminole County for a new competitive shooting range. Airsoft guns use pressurized air to shoot non-metallic projectiles, and are less penetrative than regular air guns. They are generally used for competitive sporting and recreational purposes when used with protective gear. Ronald Weber, the applicant for Range Custom Air Soft, expects the proposed site plan for the range to go before the Seminole County Development Review Committee on April 26. The range…

Florida among states suing Ocwen over mortgages, stock plummets

Mon, 24 Apr 2017 13:59:44 +0000

(image) West Palm Beach-based Ocwen Financial Corp. was hit by a lawsuit from more than 20 states, including Florida, and the U.S. Consumer Financial Protection Bureau, alleging that it mishandled mortgages, resulting in illegal foreclosures and other harm to borrowers. The company was barred from acquiring new servicing rights in North Carolina and several other states. Shares of Ocwen (NYSE: OCN) plunged 55 percent to $2.44 late last week. Florida Office of Financial Regulation Commissioner Drew J. Breakspear…

Unusual reasons you can get kicked off a plane

Mon, 24 Apr 2017 13:31:33 +0000

(image) United Airlines' rough handling of a paid passenger it recently removed from one of its flights has raised questions on when an airline can eject passengers. When you buy an airplane ticket, you’re agreeing to a lot of fine print — most of which you probably never have read. One important thing to note is that when you’re aboard, the crew essentially has ultimate authority, and they’re able to make the call about kicking you off the plane. Sometimes it’s obvious why they give a passenger…

7 things to know today and the different business-ownership paths of men, women

Mon, 24 Apr 2017 11:15:12 +0000

(image) Good morning, Orlando! There's a lot in the news from time to time about the gender pay gap, the lack of women in the boardroom, etc. But data from a newly released report shows distinct differences in how men and women owners are approaching their companies' needs for the coming years. According to The Business Journals SMB Insights' Women SMB Owners report, strong majorities of both men and women business owners are confident in their respective companies having success over the next two years.…

BB&T CEO: Bank will close 100 branches this year

Sat, 22 Apr 2017 17:27:02 +0000

(image) BB&T CEO Kelly King told analysts Thursday that the bank expects to close 100 branches this year. King cited the popularity of the bank's U by BB&T digital platform, used by about 60 percent of its customers, as the reason for the closures, reports the Winston-Salem Journal. BB&T currently has 2,193 branches, down 56 from June 30. BB&T is the seventh-largest bank in Central Florida, with $1.7 billion in local deposits. The bank is based in Winston-Salem, N.C. In other comments reported from Thursday's…

Orlando attorney John Morgan ponders governor bid at Tampa stop

Sat, 22 Apr 2017 16:53:58 +0000

(image) Orlando attorney John Morgan sure sounds like he’s running for governor next year. “Write down one thing that Tallahassee has ever done to make your life better,” Morgan said to a packed room at a Tiger Bay Club of Tampa luncheon Friday. He then proceeded to list the things he’d do worth writing on that list, including his advocacy for medical marijuana. Tiger Bay meetings are known for being packed with politically astute business leaders and political insiders who ask tough questions.…

Wells Fargo to launch pilot with Facebook Messenger

Fri, 21 Apr 2017 22:20:00 +0000

(image) Wells Fargo & Co. is launching a pilot to test an artificial intelligence-driven experience through Facebook Messenger. The San Francisco-based bank — the third-largest bank in Central Florida — has hinted at incorporating financial services into third-party environments for a while now. Steve Ellis, head of Wells Fargo’s Innovation Group, talked about implementing banking tools in Facebook Messenger with sister paper Charlotte Business Journal earlier this year. “It all comes back to making…