ORLANDO ORANGE EXECUTIVE PROFILE | 6 SEMINOLE L.G. Simmonds Real Estate Corp.’s LAKE Busıness Les Simmonds (R) OSCEOLA FEB. 20–26, 2009 INCENTIVES TO SPEND | 5 orlandobusinessjournal.com Journal Tax breaks could spur biz investment $3.00 Small loans to keep troubled firms afloat BY CHRISTOPHER BOYD AND “This new program was designed KENT HOOVER See other stimulus with these firms in mind.” package-related But a $35,000 guarantee prob- The newly inked federal eco- stories on pages ably wouldn’t make a difference nomic stimulus package offers 4, 5, 15 for most companies, said Shan- only limited benefits for small non Talty, owner of Olde Hearth businesses — but Central Flor- Bread Co. in Casselberry, which ida lenders say any help in 2009 has 46 employees. “That’s about is welcome. a two-week payroll for my busi- Of particular interest is the will have a year before they ness,” said Talty, who got an stimulus package’s $35,000 life must start repaying it. SBA loan to expand his bakery preserver for small businesses “Our committee has heard in 2007. “That wouldn’t get us drowning in red ink. from many firms very far. It might help for a very Under the law, the Small who could be via- small business.” Business Administration tem- ble and grow again Still, any program that stim- porarily will guarantee 100 if they could only ulates lending is helpful, said percent of loans of up to $35,000 buy a little time,” John Hanrahan, an accoun- issued by banks to small busi- said Rep. Nydia tant executive with Florida nesses struggling to make pay- Velazquez, D-N.Y., First Capital Finance Corp. JIM CARCHIDI ments on existing debt. The who chairs the in Orlando. “Hopefully, these Business owner Shannon Talty says the $35,000 guarantee won’t SBA will pay the interest on Velazquez House Small Busi- make a huge difference for companies as large as his. the loan, and small businesses ness Committee. LOANS | 40 Commercial Double trouble Feds help resurrect plans for The number of local commercial real estate loans held as mortgage-backed loans plagued by securities (CMBS) that have gone bad Florida high-speed rail system tripled in the past year, while their BY CHRIS kaUFFMann ange County Com- value more than doubled, signaling missioner Lee Chi- delinquencies yet another blow to the economy. High-speed rail in Central Florida ra, believes Florida Jan. 2008 Jan. 2009 may be back on track, thanks to the should be at the top BY CHRISTOPHER BOYD No. of bad CMBS loans 10 32 new federal economic stimulus pro- of any list for high- gram, which contains $8 billion in no- speed rail money Delinquent balance $135.1M $314.8M Just when it seemed things couldn’t match money allocated for high-speed because it’s further get any worse, Central Florida’s econ- Source: Realpoint LLC rail projects nationwide. along in the plan- omy now appears poised to sink even The Florida High Speed Rail Au- ning process than further. More than $314 million worth thority will meet Feb. 26 at Orlando Stimulus any of the other of Orlando-area commercial real es- could face trouble soon. The watch list, International Airport to discuss what 10 regions in the tate loans held as mortgage-backed se- compiled by of Horsham, Pa.-based it needs to do to update old plans for Package country that have curities were delinquent at the end of credit-rating agency Realpoint LLC, the planned rail system, which in- been mentioned for January — nearly double the amount uses a metric that includes payment cludes several possible routes, all of high-speed rail. three months earlier. defaults, lower occupancy levels and them with Orlando at the center. “We’re at least one year ahead of And another 127 Orlando-area loans poor borrower finances. It will be the first time the authority everyone else because we’ve already worth $1.4 billion — a whopping 19.6 “We expect commercial loan de- has met since former Gov. Jeb Bush spent $30 million to come up with a percent of the area’s commercial mort- faults to triple in 2009,” said Frank killed the plans for the system in 2004 plan and with routes,” he said. “We’re gage-backed securities (CMBS) loans due to lack of available state money. — are on a watch list of loans that COMMERCIAL | 41 The authority’s chairman, former Or- RAIL | 41 FINGERS CROSSED | 15 Inside BUZZ 3 Local firms gear up to vie SPECIALREPORt 15 THE LIST(S) 16,20 for public works projects ENTREPRENEUR 23 CALENDAR 26 PEOPLE INtHeNEWS 28 ENTREPRENEUR | 23 BIZ LEADS 29 READERS’GUIDE 42 Making lots of dough with pizza OPINION 43 Updates all day long at orlandobusinessjournal.com 2* OBJ orlandobusinessjournal.com FEB. 20–26, 2009 People & Companies Inside A look at the names and faces that made news this week in Orlando Business Journal.. This week’s Business Journal Dig in | 4 ‘Shovel-ready’ projects likely to get federal funds On the radar | 4 Airports eye stimulus money Road warriors | 5 Metroplan battling for government dollars Burden Holbrook Innaurato LeBoeuf Longstaff Lupton Martins McKeever Showalter Pages 15, 17 Page 17 Pages 1, 41 Page 15 Page 40 Page 18 Page 40 Page 41 Page 14 Finding money | 5 Tax breaks encourage small biz spending Executive Profile | 6 Kelly, Kerry . 2, 28 Miller, Stephen R. 18 Rumberger, Mary B.. 28 Williams, Mark S. 9 Cushman & Wakefield . 41 Les Simmonds, president and CEO of People Kendrick, Erin. 28 Moore, John . 9 Rynning, Mark A. 18 Williamson, Jeffrey . 28 DLR Group. 16, 15, 17 L.G. Simmonds Real Estate Corp. Alcuri, Leslie . 28 Keyes, Steve . 18 Nipe, Laura . 28 Santiago, Veronica . 28 Wissa, Anwar E.Z. 18 Dyer, Riddle, Mills & Precourt Inc. 18 Alfano, Joe . 28 Khosravani, Karam . 18 Nodarse, Leila Jammal . 18 Schwartz, Arthur. 21 Wolpow, Tina. 28 EA Tiburon . 3 Electronic Arts Inc.. 3 Paying for progress | 8 Allen, Fred . 3 Kidd, Brad. 28 Noppinger, Stephen. 18 Scott, Ray . 16 Worden, Clay . 28 Proposed law would help doctors fund Andreyev, Nicolas E.. 18 Wright, Bob. 28 Evans Group, The . 16 Koi, Gerald B. 16 Norton, Bruce. 28 Scurlock, Thearon . 28 electronic record systems Aubin, Matthew . 28 Kuhns, Gary L. 18 Nunziata, Rob . 11 Serrano, Humberto . 28 Zebosky, Michael . 28 FBC Mortgage LLC . 11 Florida’s Blood Centers . 3 Bailey, Bob . 18 Labrozzi, Gary F. 13 Owen, William . 17 Showalter, Kim. 14 Florida’s Turnpike Enterprises . 19 Replacement facility | 9 Baker, Wayne. 28 Landrieu, Mary. 40 Pace, Pete. 5 Simmonds, Les. 6 Florida First Capital Finance Corp. 1 Community Health Centers to build Baldwin, Todd . 28 LeBoeuf, Michael . 15, 17 Pagan, Rafael. 28 Singh, Sandeep . 18, 19 Companies Bamberg, Patricia . 28 Florida TaxWatch . 3 $2.9 million clinic in Groveland LeBoeuf, Michael E. 16 Palceski, Dimitry . 8 Slocum, Randall J. 16 Aecom Technology Corp.. 18 Barley, Harold . 5 Forum Architecture & Interior Leonhardt, Fred . 14 Paulsen, Robert J. 18 Smith, Bill. 5 Allen Properties Inc.. 3 Barrios, Carlos . 16 Design Inc. 16 Fannie tightens up | 11 Lloyd, Terry . 14 Peeper, Jay . 28 Stafford, Andrew R. 28 Andreyev Engineering Inc. 18 Beckman, William . 18 Fugleberg Koch Architects Inc. 16 Stricter condo loan requirements make it Bentley, William C. 16 Lochrane, Robert J. 18 Percival, Red . 28 Stanley, David . 28 Architects Design Group Inc.. 16 GAI Consultants Inc . 19 harder for Realtors, developers Blend, Bill . 28 GAI Consultants Inc.. 18 Boettcher, Frances H. 16 Gencor Industries . 5 Time to regroup | 13 Bolen, Ed . 14 Geotechnical/Environmental Owner of Orlando International Airport Hotel Consultants Inc. 18 Bonitatibus, Amy . 11 Glatting Jackson Kercher files Ch. 11 Boscan, Melanie . 8 Anglin Inc. 15 Boyce, David . 16 GrayRobinson. 14 Angry aviation | 14 Boyd, Michael . 14 Grubb & Ellis . 41 Corporate aircraft criticism seen as unfair Bradick, Raymond R. 18 HDR Inc. 18 Brock, Gary F.. 16 Helman Hurley Charvat Peacock/Architects Special Report | 15 Brown, Brande . 28 Inc. 16 Architects, Construction & Engineers: Local Brown, Tim . 23 HKS Architects Inc.. 16 firms gear up to vie for local infrastructure, Bryan, Paul W. II . 28 Homeowner Resource LLC . 3 public works projects Burden, Dan . 15, 17 HuntonBrady Architects . 16 Burke, Marcus . 11 Impact Entertainment Services LLC. 41 The List | 16 Byllott, Augie. 3 Infrastructure Engineers Inc . 19 Central Florida’s largest architecture firms Cardin, Benjamin . 40 Interplan LLC . 16 Case, Robert B. 28 Inwood Consulting Engineers Inc. 19 The List | 20 Chalifoux, Wayne D.. 18 Jacobs Carter Burgess. 21 Central Florida’s largest engineering firms Chandler, J. Thomas. 16 Kimley-Horn & Associates Inc.. 21 Chandler, Paul . 28 Kissimmee Gateway Airport . 14 Entrepreneur | 23 Charlan, Charles . 16 Kroma Makeup Studio . 3 Chase, Jeff. 28 Fork in the Road: Two childhood friends L.G. Simmonds Real Estate Corp. 6 Chatham, Michael K. 16 making lots of dough Land Design Innovations Inc. 21 Chira, Lee . 1 Lazy Moon . 23 Christie, Dana. 28 Moneyed Metros | 24 Lochrane Engineering Inc. 18 Cima, Richard A. 18 Orlando seventh-best area for small business Mactec Engineering and Clear, Matthew T. 16 Consulting Inc. 18 Coats, Cari Haught. 28 Focus on Sales | 24 McCree General Contractors Sales and marketing are not synonymous Cochran, Jeff . 28 & Architects. 16 Cole, Chuck . 16 Mercantile Commercial Capital . 40 Collis, David S. 28 Calendar | 26 Metroplan Orlando . 5 Multiple agencies offer human resources help Dale, Larry. 4 Morris Architects. 16 Davies, Matthew M.. 28 MRI Architectural Group Inc.. 16 Deloy, Craig. 19 Executive Etiquette | 26 MSCW Inc.. 18 Listening ability could determine success Domino, Carl.