Favor: Robert Finch, owner of DiamondEmporiumInc.com and marketing assistant Dane Benson at the Miami Beach Chamber of Commerce.  DiamondEmporiumInc.com donated a pair of diamond studs worth $1,000 to the chamber’s charity auction.

Business News: 

*On January 25 DiamomdEmporiumInc.com, located at 940 Lincoln Road, Suite 321, Miami Beach, officially launched its corporate website to the world. The owner of the company, Robert Finch and his marketing assistant, Dane Benson, celebrated the occasion by attending the annual Miami Beach Chamber of Commerce diner and gala at the Fontainebleau Hilton on Saturday night.

DiamondEmporiumInc.com sells diamond jewelry at wholesale prices to the public via its website and is a member of the MBCC. The company has partners who have been in the diamond wholesale business for over 20 years. “We buy rough parcels from DeBeers out of South Africa and cut polish and manufacture in our factory in New York, New York,” says Finch, “and we have the absolute best prices anywhere, on the web or otherwise.”

DiamondEmporiumInc.com sells larger stones to private clients by appointment from their Lincoln Road office and makes custom diamond jewelry on request. Finch is a native of Little Rock Arkansas and has family in South Florida. Benson is a Georgia native and is a resident of Miami Beach.

“We love the weather here,” says Finch. “It’s often like a good diamond in the winter, clear, cool and clean.” 

Standards & Poor’s (S&P), one of the nation’s bond‑rating services, upgraded Miami Beach’s rating on its bonds from an A to an A+. During fiscal year 2001, the City received an A1 rating from Moody’s. Both ratings are the highest to be achieved in the City’s history.

“I am pleased to see such strong fiscal confidence in Miami Beach during a time when the country’s economy is experiencing difficulties,” said Miami Beach Mayor David Dermer in a press release.

“Through prudent fiscal management and aggressive efforts after 9/11, we have been able to strengthen our financial condition and position ourselves to grow with the economy. We’ve diversified our economy, maintained our service levels, and continue with an unprecedented $400 million capital improvement program citywide,” said Miami Beach City Manager Jorge Gonzalez.

The rating report indicates the upgrade was the result of a number of factors that included sustained strong financial performance bolstered by long-term planning and formal fiscal policies. Standard and Poor’s advises that during the year following September 11, most states and many cities experienced financial difficulties, especially those whose economies are largely dependent on tourism revenues. Further, they acknowledged that the City of Miami Beach successfully navigated those challenging economic times because of prudent fiscal policy and management, diversification of the economic base and continued growth.

Miami Beach Commissioner Jose Smith, chairperson of the City’s Finance and Citywide Projects Committee, said,  “This bond upgrade is especially significant in light of the current economic uncertainties that many local and state governments are facing. For Wall Street analysts to send this kind of positive message at this time demonstrate their confidence in us, our City Manager, and in Miami Beach’s future.”

Particular mention was made of the city’s contingency fund for emergencies along with the strength of reserves in the city’s enterprise funds. It was also noted that the city hosts high profile events, such as MTV’s inaugural Latin America Video Music Awards, which should continue to positively impact hotel occupancy rates and prices, resort tax revenues and overall tourism trends. S&P’s report is considered to reflect the city’s strong ongoing economic growth and the diversification of its tax base.  

* On January 5, 2003, BauerFinancial, Inc., the nation's leading independent bank research firm based in Coral Gables, issued its 4-Star, “excellent” and “recommended” rating to Beach Bank, the only bank headquartered on Miami Beach.
The 4-Star rating is based on financial data as reported to federal regulators, including criteria such as profitability/loss trend, evaluating the level of delinquent loans and repossessed asserts, the market versus book value of the investment portfolio, regulatory supervisory agreements, the community reinvestment rating (CRA) and liquidity. Potential losses on available-for-sale securities, delinquent loans and repossessed assets are forecasted in assigning BauerFinancial’s star rating. De Novo banks generally cannot qualify for a 5-star rating for at least two years.
According to BauerFinancial, being listed on their Recommended Bank & Thrift
Report guarantees that the institution is financially sound and is operating well-above its regulatory capital requirements, with a tangible capital ratio greater than 6% and a total risk-based capital ratio greater than 10%. Potential losses on available-for-sale securities, delinquent loans and repossessed assets are taken into account when a BauerFinancial   star rating is assigned. De Novo banks generally cannot qualify for a 5-star rating for
at least two years.
Beach Bank was established in December 2000 by professionals and business people who saw the need for a “grassroots” bank that could meet the diverse needs of the community. 
“Beach Bank has had unprecedented growth over the past year,” said Hans Mueller, president of Beach Bank, in a press release. “It has been an incredible year of expansion for us, especially after 9/11 and the effects it had on the economy. Beach Bank has turned a profit in a short time and we have turned the corner. Our new strategic plan, which includes opening new branches, is currently being implemented.”
Beach Bank is open Monday through Friday from 9 a.m. – 4 p.m., and 9 a.m. – Noon on Sunday. Beach Bank is located at 555 Arthur Godfrey Road on Miami Beach. Telephone: 305-695-7400.

  Business Focus

Star-Studded Dinner Gala 2003 to Honor Emilio Estefan, Martin Gelb and Stephen Muss 

International Television Personality Cristina to Emcee, Musicians Arturo Sandoval, Jon Secada & New MSM to Perform at Miami Beach Chamber’s Dinner Gala 2003 at Fontainebleau Hilton

Emilio Estefan, Jr.

Grammy-winner Arturo Sandoval, singer Jon Secada and the New Miami Sound Machine will perform at the Miami Beach Chamber of Commerce’s Dinner Gala 2003, a star-studded black-tie affair that will honor internationally acclaimed record producer Emilio Estefan, Jr., Mount Sinai Chairman Martin J. Gelb and Fontainebleau Hilton owner Stephen Muss.

Stephen Muss

Television personality Cristina Saralegui, better known to her fans as Cristina, will serve as emcee for the evening, adding star power to the festivities slated for January 25^th at the Fontainebleau Hilton.

“Record numbers of reservations were made prior to the invitation being delivered to the public,” said Miami Beach Chamber of Commerce Chairman Michael Milberg. “This year’s Dinner Gala will be the biggest in the Chamber’s 82-year history, and certainly the outpouring of support for our honorees and the wealth of talented performers appearing onstage are responsible for the incredible response we’ve received so far.”

The Miami Beach Chamber of Commerce Board of Governors and Pillar Trustees will honor Emilio Estefan, Jr. with the 2003 Citizen of the Year Award. In addition, Mount Sinai’s Martin J. Gelb will receive the Jan Pfeiffer Distinguished Service Award and Stephen Muss of the Fontainebleau Hilton will be honored with the Leonard “Doc” Baker Lifetime Achievement Award.

 “Each honoree has, for many years, contributed his time, talent and resources to the betterment of Miami Beach,” said Miami Beach Chamber President/CEO Bruce Singer.

Emilio Estefan, Jr. will receive the prestigious Citizen of the Year Award for his contributions to South Florida’s unique cultural fusion. Through his role as a chart-topping producer of such acts as Gloria Estefan, Jon Secada, Ricky Martin, Carlos Ponce, Shakira, Jennifer Lopez and Cachao, Estefan has exported the “Miami Sound” to millions of music fans around the world, earning him 12 Grammy Awards, two Cable Ace Awards, an American Music Award, the Songwriter’s Hall of Fame “Sammy Cahn Lifetime Achievement Award,” and the first-ever Latin Academy of Recording Arts & Sciences’ Person of the Year Award. In September 1998, Billboard Magazine honored Estefan with an edition dedicated to his 20^th anniversary in music. In 2001, Estefan was appointed by President George W. Bush to serve on his committee for the Arts and Humanities. More recently, he received the Medallion of Excellence for community service from The Congressional Hispanic Caucus Institute. 

Martin Gelb

Martin Gelb, chairman of the Board of Trustees of Mount Sinai Medical Center & Miami Heart Institute, is senior vice president and resident manager of Salomon Smith Barney in Miami Beach, is also a former president of the Founders Club and founding member of the Young Presidents Club of Mount Sinai Foundation. His involvement in the community includes his role as a founder at Temple Beth Sholom, founder and member of the executive committee of the National Parkinson’s Foundation and as a member of the advisory board of the Diabetes Research Institute. He is a recipient of the Ronald McDonald Award for the “12 Good Guys” as well as a founder of the Miami Jewish Home and Hospital for the Aged at Douglas Gardens. In January 2002, Gelb was elected as Mount Sinai’s Chairman of the Board of Trustees.

Stephen Muss, owner of the Fontainebleau Hilton, began his career in 1946 when he joined his father to establish the Alexander Muss & Sons real estate development firm, which went on to develop Seacoast Towers and condominium projects in Key Biscayne, Miami and Miami Beach. In 1978, Muss acquired the Fontainebleau Hilton Hotel. Muss has served on the Board of Miami’s Fine Arts Museum, on the Board of Governors of Haifa University, and as chairman of the Miami Beach Redevelopment Agency and the Dade County Sports Authority. He was very much involved in the expansion of the Miami Beach Convention Center and the creation of the Greater Miami Convention and Visitors Bureau. His philanthropic interests include the Jewish Federations of Miami, New York, Palm Beach and Detroit, Mount Sinai Medical Center and the University of Miami. He is also the president of Temple Emanu-El and Chairman of its Renaissance Committee.

Seats are still available at the Silver Seating level for $175 per person, at the Gold Seating level for $250, and at the Platinum Seating level for $500. Sponsorship opportunities are also still available at the Silver Table ($2500), Gold Table ($3500) and Platinum Table ($5000) levels. Seating is limited. Reservations are accepted with payment only. To make reservations for the 2003 Dinner Gala, contact Rebecca Heyder at (305) 674-1300 ext. 316.

Aventura Mall Branches Out to Include Farmer’s Market

Sponsored by The Aventura Mall, the Farmer’s Market complements the range of more than 200 shops and prestigious department stores in the popular mall. 

Aventura Mall takes on a green and tropical ambiance this weekend with the launch of the Aventura Mall Farmers Market, January 24 to 26, featuring the introduction of Miami Beach Delicious jams and jellies, and a flowering plant and orchid exhibit by the Miami Beach Botanical Garden.

Prominently located in the plaza surrounding its central courtyard fountain of the Mall, the green market will be held Friday and Saturday from 10 a.m. to 9:30 p.m. and Sunday from Noon to 8 p.m.

Produced by The Market Company of Miami Beach, the Aventura Mall Farmer’s Market will feature colorful orchids and cut flowers, tropical plants and trees, bonsai, fresh herbs, bread and baked goods, tropical fruit juices and smoothies, candies, quality crafts, incense and potpourri.  The Miami Beach Botanical Garden will present an exhibit and sale of lush tropical plants, as well as gardening books and souvenir items.

The Miami Beach Delicious custom line of jams, jellies, preserves and salad dressing is making its debut in Aventura at the Farmer’s Market. Exotic and tropical flavors are featured in 11 different products, made from natural ingredients and produced locally in South Dade. Samples will be offered to give shoppers a “Miami Beach Delicious” tasting.

 “’Miami Beach Delicious’ responds to a growing demand among consumers for the freshest and finest natural and certified-organic products,” said Claire Tomlin, President of The Market Company. “Among the favorites are guava jelly, fuzzy navel marmalade and passion fruit jam.”

Sponsored by The Aventura Mall, the Farmer’s Market complements the range of more than 200 shops and prestigious department stores in the popular mall. One of the largest regional indoor malls in the country, Aventura Mall is anchored by major department stores and includes more than 200 retailers shops, restaurants, a food court, and AMC Aventura Theaters. Mall services include valet parking, an information booth, security, Automated Teller Machine (ATM), stroller rental, and frequent live entertainment and seasonal events.

Located at 19501 Biscayne Boulevard, the Aventura Mall is open Mon-Sat: 10 a.m.–9:30 p.m., Sun: 11 a.m. to 8 p.m. 

For information on the Market Company, market details and vendor applications, call 305-531-0038 and visit www.themarketcompany.com.