St. Joe Company Cleans House

[robertsondavies]

I really don't see that, while PC does have a large port it's not conducive to a cruise line, even the smaller ships that sail out of Mobile and New Orleans. I think a Carnival executive is just someone jumping ship before a chapter 11 filing. He is the CFO after all.

you're probably right, PC is probably not wildly attractive to cruise lines, but the infrastructure is in place, so it is an alternative to Jacksonville, and Mobile, so that the lines can make these cities compete on port fees.

Carnival Chapter 11? hmmm

 

[beachmouse]

If you want to improve port useage in PC, one of Rick Scott's big talking points has been about improving/expanding ports in Jax, Ft. Lauderdale, and Miami, with some minor chatter about developing a large port in Citrus County north of Tampa. So you need to get the lobbyists for Bay County and other related PR types talking about ways to include PC in that list of the state's high priority ports. You want to get federal dollars that would enable Bay County to do things to better compete with Mobile and other northern Gulf Coast/I-10 corridor ports and bring more cargo in.

 

[rationale]

The reason why this happened:

St. Joe to Replace Four Directors With Berkowitz Nominees - NYTimes.com

The letter Berkowitz sent was interesting, especially these points -

- St. Joe management plans must reflect business reality
- St. Joe management must stop selling cheap to fund wasteful spending

St Joe selling cheap? I never thought that about most of their properties or HOA fees. 40k for a Rivercamps lot would not be bad if it were not for the planes overhead and skeeters & black flies at your door. I like the atmosphere though. West Bay is a bit more pristine than the Choc. I hope Berkowitz can steer this boat w/in the present economic realities w/out turning the company into something altogether too different.

 

[Kurt]

http://www.sowal.com/bb/business-goods-services/32345-port-panama-city-news-info.html

 

[Matt J]

St Joe selling cheap? I never thought that about most of their properties or HOA fees. 40k for a Rivercamps lot would not be bad if it were not for the planes overhead and skeeters & black flies at your door. I like the atmosphere though. West Bay is a bit more pristine than the Choc. I hope Berkowitz can steer this boat w/in the present economic realities w/out turning the company into something altogether too different.

I think they were referring to some of the mass land selling they've done in the past 24 months to bolster their financials.

 

[Matt J]

http://www.sowal.com/bb/business-goods-services/32345-port-panama-city-news-info.html

At their main site they've removed any reference to cruise operations.

 

[GoodWitch58]

St. Joe to Focus on Defense Industry

St. Joe to focus on defense industry | focus, industry, joe - The News Herald

WATERSOUND ? The new direction and focus from vacation homes to defense contractors that St. Joe Co. board member Bruce Berkowitz has alluded to in recent days has local economic development officials thinking optimistically.

Berkowitz is the founder of the Fairholme Management Capital LLC, the single largest shareholder of St. Joe Co. (JOE) stock. In recent weeks, Berkowitz has led a shake-up of the company that included new members, including himself, joining the board of directors and the resignation of the company?s top executive, Britt Greene.

?When industry comes, which it will, to the area, because that area is in an aerospace corridor, it?s going to be one of the best places to live and work in Florida,? Berkowitz said about the Panhandle in a Feb. 9 interview with the Wall Street Journal. ?I want it to be a metropolis. I?m not just talking about a vacation community

 

[ASH]

And when that happens...

:leaving:

 

[scooterbug44]

A metropolis is 50K people or more.

They better improve some infrastructure. :roll:

 

[Matt J]

A metropolis is 50K people or more.

They better improve some infrastructure. :roll:

So he wants to build something that already exists?