Florida
Florida Entrepreneur Discusses JetBlue Board Seat as Stake Nears 10%
(Bloomberg) — JetBlue Airways Corp. investor Vladimir Galkin, a Florida entrepreneur, has increased his stake in the carrier to 9.98% and says he’s met with top executives to discuss a possible board seat.
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Galkin has been steadily building up a stake in JetBlue this year, and is now the airline’s third-largest investor, behind BlackRock Inc. and Vanguard Group Inc.
Galkin said in an interview that he met with JetBlue’s Chief Executive Officer Joanna Geraghty and Chief Financial Officer Ursula Hurley earlier this week.
“I have not decided whether I want to become a director,” he said. “Any consideration would, of course, require further discussions with the board and adhering to their nominating process.”
Galkin said he “expressed my interest in monitoring my significant investment as a director at some point” during the discussions. Geraghty didn’t make a commitment “either way,” and encouraged him to speak with the board’s nominating committee as required by the company’s bylaws, Galkin said.
In a statement, JetBlue said it “regularly speaks with shareholders and investors to listen to their views on the company’s strategy and progress.” A spokesman declined to comment on discussions with individual shareholders.
The airline is in the midst of a turnaround effort after federal judges blocked a planned acquisition and a partnership with another carrier, limiting its growth prospects. Geraghty has detailed plans to pull out of some cities and delay $3 billion in new aircraft purchases to help control persistently high costs. The airline will shift its focus back to leisure customers in its original strongholds of New York, New England, Florida and Puerto Rico.
“I was really impressed with Joanna and her team and their progress to date,” said Galkin, who cofounded and owns a majority stake in HUBX, an online global marketplace for wholesale electronics.
Galkin, who cashed in on GameStop Corp. during the meme stock craze, reiterated in the interview that he will hold his JetBlue investment to below 10%. Reaching a 10% stake triggers additional disclosure requirements and would allow him to call for a special shareholder meeting. He would also be considered an insider.
Activist investor Carl Icahn, who took a stake in JetBlue of nearly 10% earlier this year, subsequently secured two board seats.
Galkin has had, and intends to continue to have, discussions with JetBlue executives and board members “regarding the possibility of board representation,” according a regulatory filing Thursday. He may communicate with the board, management or other investors about operational, strategic, financial or governance matters, it said.
Shares of the company rose 1.3% in postmarket trading as of 6:02 p.m. Thursday in New York. The stock is down nearly 3% this year.
–With assistance from Crystal Tse.
(Adds JetBlue comment in sixth paragraph.)
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TCPalm staff share their top restaurant recommendations in Vero Beach, Sebastian, Fellsmere.
Indian River County is home to many unique restaurants, far too many to choose from.
There are so many restaurants on the Treasure Coast to try, but it can be hard knowing where to start.
Here are the TCPalm staff’s recommendations for restaurants in Vero Beach, Sebastian and Fellsmere.
Indian River County restaurant recommendations
Olivia Franklin is TCPalm’s trending reporter. You can contact her at olivia.franklin@tcpalm.com, 317-627-8048 or follow her on X @Livvvvv_5.
Florida
Pilot program aims to build $200K homes in Central Florida to help low-income families buy, not rent
ORLANDO, Fla. – For many Central Florida families, the dream of owning a home feels further out of reach than ever.
With the median home price now topping $400,000, a new pilot program in Orlando is trying to change that by building new homes for about half the cost.
A lot off Quill Avenue in Parramore may not look like much right now, but organizers say it could soon be the site of a new home priced around $200,000 for low-income families.
“We just really wanted an opportunity to bring actual affordable housing to people who have basically been forever renters,” said Satrina Whithead with the GXVE Homes Initiative.
The GXVE Homes Initiative says the goal is to help families earning between $16,000 and $65,000 a year get a chance at homeownership. Whithead said the homes could range from 500 to 1,400 square feet, depending on the lot size and location.
The Orlando Regional Realtor Association reports the median home price in the area is now more than $400,000. Whithead said GXVE hopes to sell homes for about half that.
“There’s nothing wrong with profit, but at the end of the day, I want to help where the need is greatest,” Whithead said.
Organizers say they are already planning to build in Parramore and are working to close on two additional properties. They also say they have properties planned in Sanford and Mims, with a goal of bringing eight homes a year to Central Florida.
“You can pay 80 percent of your salary on rent just to have a place to live. So getting that number back down to around 50 percent is extremely important,” said Mike Harris, vice president of GXVE Homes.
Florida Made Tiny Homes, which is partnering with the organization, said it plans to build concrete homes that exceed safety requirements for the area.
“I don’t think there’s going to be anything available on the market in that price range, much less new construction,” said Dylan Grace, co-founder of Florida Made Tiny Homes.
Program organizers say they expect to start construction in the fall and hope to complete the first home within six to eight months after work begins. For more information please click here.
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ORANGE COUNTY, Fla. (CBS12) — A former Florida juvenile probation officer is facing more than 100 felony charges after investigators said she leaked confidential court and law enforcement information to people tied to a drug trafficking investigation.
Crystal Gaynell Ann Lawson was booked into the Orange County Jail on Thursday, according to Orange County Corrections records.
Investigators said Lawson improperly accessed the Comprehensive Case Information System, or CCIS, more than 100 times and shared information from active criminal cases with members of a drug trafficking organization.
FOX 35 Orlando reported Lawson was arrested on 113 felony counts of computer crimes for unauthorized access. Investigators said she allegedly accessed the database 106 times between January and May.
Lawson is accused of using the database to search for active criminal cases tied to members of the organization. Authorities said some of the information that was leaked included arrest warrants and documents connected to an active investigation.
Lawson was hired by the Florida Department of Juvenile Justice in February 2022. As part of that job, she was given access to the CCIS database. Authorities said she was fired later that year after an arrest, but her database access was not terminated.
See also: ‘Elf,’ ‘Couples Retreat’ actor jailed with no bond after Florida arrest
Investigators said the leaks resulted in lost evidence, unrecovered assets and at least one person fleeing to avoid arrest before later being taken into custody.
Lawson previously worked for the Florida Department of Juvenile Justice, where she had access to the court information system as part of her job. Authorities said she was later fired, but her database access was not terminated.
Orange County Corrections records list Lawson’s case status as “presentenced” and show multiple entries for “offense against computer users.”
The records list the arresting agency as the Orange County Sheriff’s Office and show bond amounts of $10,000 on several listed case sequences. The jail record also notes an “ICJIS Affidavit.”
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