SOUTH FLORIDA BUSINESS & WEALTH MAY 2020 | $7.95 SFBWMAG.COM POST COVID-19 A SPECIAL ISSUE OF SFBW WITH ADVICE AND INSIGHTS A Lifestyle of Luxury and Effortless Living Experience the luxurious waterfront homes of One Park Grove – 50,000 Square Feet of Unparalleled estate-quality condominiums and penthouses with the perfect World-Class Amenities location, magnificent architecture, spectacular bay views and - Five Acres of Private Gardens by Enzo Enea first-class amenities. Ideally positioned on Biscayne Bay in - World Class Art Collection Coconut Grove, One Park Grove brings high-style living - 28 Seat Private Screening Room to an entirely new level. - Whole Body Fitness Center - Signature Spa with Treatment Rooms - Wine Tasting Rooms with Private Wine Storage 2-5 Bedrooms Residences Starting at $2.7M. - 500 ft of Bayfront Pools, Jacuzzi & Pool Decks - Poolside Dining, Bar & Cabanas - Children’s Play Area Visit Our New Penthouse Sales Gallery: 2821 S. Bayshore Dr. UPH-A, Miami FL 33133 (Enter on Mary St.) ONEPARKGROVE.COM 305 521 1344 EXCLUSIVE MARKETING AND SALES AGENT DOUGLAS ELLIMAN DEVELOPMENT MARKETING ARCHITECTURE BY OMA • REM KOOLHAAS | INTERIORS BY MEYER DAVIS | KITCHENS & BATHS BY WILLIAM SOFIELD | LANDSCAPES BY ENZO ENEA | SCULPTURE BY JAUME PLENSA | RESTAURANT BY CHEF MICHAEL SCHWARTZ This condominium is being developed by 2701 Bayshore One Park Grove, LLC, a Florida limited liability company ("Developer"), which has a limited right to use the trademarked names and logos of Terra and The Related Group. Any and all statements, disclosures and/or representations shall be deemed made by Developer and not by Terra and The Related Group and you agree to look solely to Developer (and not to Terra and The Related Group and/or each of their affiliates) with respect to any and all matters relating to the marketing and/or development of the Condominium and with respect to the sales of units in the Condominium. ORAL REPRESENTATIONS CANNOT BE RELIED UPON AS CORRECTLY STATING THE REPRESENTATIONS OF THE DEVELOPER. FOR CORRECT REPRESENTATIONS, MAKE REFERENCE TO THIS BROCHURE AND TO THE DOCUMENTS REQUIRED BY SECTION 718.503, FLORIDA STATUTES, TO BE FURNISHED BY A DEVELOPER TO A BUYER OR LESSEE. These materials are not intended to be an offer to sell, or solicitation to buy a unit in the condominium. Such an offering shall only be made pursuant to the prospectus (offering circular) for the condominium and no statements should be relied upon unless made in the prospectus or in the applicable purchase agreement. In no event shall any solicitation, offer or sale of a unit in the condominium be made in, or to residents of, any state or country in which such activity would be unlawful. FOR NEW YORK RESIDENTS: THE COMPLETE OFFERING TERMS ARE IN A CPS-12 APPLICATION AVAILABLE FROM THE OFFEROR. FILE NO. CP19-0051. All plans, features and amenities depicted herein are based upon preliminary development plans, and are subject to change without notice in the manner provided in the offering documents. The photographs contained in this brochure may be stock photography or have been taken off-site and are used to depict the spirit of the lifestyle to be achieved rather than any that may exist or that may be proposed, and are merely intended as illustration of the activities and concepts depicted therein. Actual prices of units within the condominium may vary. Please contact Developer for accurate pricing information. The information provided herein regarding Coconut Grove was obtained from publicly available information and Developer makes no representations as to same. Certain information set forth herein includes timelines, completion dates, and other predictive and forward-looking statements (collectively, the “Projections”) that represent assumptions and expectations of Developer in light of currently available information. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the Projections. Developed by: 2701 Bayshore One Park Grove, LLC, 2665 South Bayshore Drive, Suite 1020, Coconut Grove, Florida 33133 TABLE OF CONTENTS COVER STORY NEWS AND FEATURES Businesses develop 40 GREAT PLACES AND SPACES 58 SFLG MONTHLY strategies to survive and help Royal Palm Residences, Little Palm An alternative to noncompetes 11 Island and a big FAT makeover GETTING THROUGH 60 HR 16 Business leaders tell how 46 WEALTH SFBW celebrates they are coping and what’s ahead TradeStation makes Excellence in HR Honorees crypto trading easy GOVERNMENT HELP 62 TECHNOLOGY 22 Experts give advice 50 INSURANCE Cybersecurity: on government programs The fi ne art of risk protection Protecting the castle GOVERNMENT PROGRAMS 54 LAW 64 TECHNOLOGY 24 Highlights of Anti-Defamation League Meet TechLauderdale’s new CEO two key federal acts fi ghts hate in the workplace BANKRUPTCY 56 EDUCATION COLLABORATION 26 All about Chapter 11 Ocean cleanup company nd trying to avoid it moves in to research park INSURANCE 28 Will COVID-19 claims be covered? AUTOMOTIVE 11 46 54 30 Industry adopts virtual model CRUISE LINES 32 Big three take steps to survive RESIDENTIAL REAL ESTATE 36 Why South Florida could still be a hot market COMMUNICATIONS 39 What call centers need to do 4 MAY 2020 • www.sfbwmag.com THE R76 MED 2020 e genius of a legacy is not coincidental. It is the realization of hard work, a keen view of the future and an uncompromising dedication to preserving the lineage. To create and continue a legacy takes boldness. You must walk into the fray and emerge victorious. Each generation of Roscioli Donzi Yachts pushes the envelope in pursuit of excellence, not to raise industry standards, but to protect the legacy. JOIN THE ROSCIOLI DONZI FAMILY TODAY R58 Little Pipe R58 Classic Coke R73 Damn Donzi Bring Best Offers Sale Pending Bring Best Offers THE R76 SPORTFISH 2020 RoscioliDonzi.com +1.954. 581.9200 3201 W State Road 84 Fort Lauderdale, FL 33312 www.sfbwmag.com • MAY 2020 5 LETTER FROM THE EDITOR Editor-in-Chief Kevin Gale The Unseen Enemy As I wrote my column in March for the April issue, the COVID-19 virus was just starting to wreak havoc in the United States. I likened it to a black swan event, so named because black swans didn’t seem to exist until they were one day discovered. Unfortunately, we didn’t get one black swan, we seemed to get a massive fl ock that blotted out the sun. It’s also so different than getting hit by a hurricane, which envelops us with fury. These days we can be walking by a hospital on a sunny day as people fi ght for their lives inside. The toll on human lives is heartbreaking, and the havoc in the business worlds seems incalculable. I had written in April how Carnival Cruise Lines had dropped to $12.81 during the Great Recession. On April 2, it hit $7.80. As I write this, it had risen to $11.96. We should all be so fortunate, like Carnival, to have Saudi Arabia’s Public Investment Fund and big institutional buyers come to the rescue. I delve into the outlook for cruise lines in an article in this issue. The industry needs to do what a lot of other hospitality, airlines and sports teams ultimately need to do: Show customers that it’s safe to return en masse. Governments need to do comprehensive testing, so we really know what’s going on in the population in general. As I write this column, it’s not happening. In the weeks until you get this issue, I hope that changes. The federal government is throwing trillions of dollars to help revive the economy. Thankfully, members of Congress who beat up previous administrations for Great Recession bailouts realized the importance of doing so this time plus providing more direct assistance to our citizens. My concern is that some businesses still won’t come back despite all the assistance. We seemed poise for epic changes in how we do business. I think a lot about how we do business and real estate. The push for social distancing has left many professionals, including me, fully functioning in home offi ces. Companies may start to rethink just how many people need to be working from offi ces. How will that impact the offi ce market? Will the trend of open workspaces with people working in close proximity still work? The We Work model was struggling before COVID-19; how well can it survive? Owning distribution centers populated by Wal-Mart and Amazon seems pretty good. Do you want to own a REIT with malls? I had a painful experience with one, but got out before it sank all the way to 85 cents a share. Retail and its related real estate is turning in to haves and have-nots. I read a Seeking Alpha column today that said, “The Retail Apocalypse is Accelerating.” In the past 10 years, the share prices of Macy’s and Kohl’s were each down 75 percent. On the other hand, retailers like Wal-Mart, Target, Lowe’s and Home Depot seem better positioned. I’m waiting to see what happens with hotels. A lot will depend on who owns them and how the fi nancing is structured. During the Great Recession, there was a wave of commercial mortgage backed security defaults. Some hotels were taken over by their lenders, but by and large continued to operate pretty smoothly. It’s probably a good thing that Michael Dell owns the Boca Raton Resort & Club. It’s also great to see his foundation donated $100 million to help combat the pandemic. I’m hoping SFBW can help businesses get through this. We have an array of how-to articles regarding COVID-19 in this issue and we started publishing a daily newsletter that is designed to be helpful and inspirational.