Heico Corp. to pay special dividend




















Niche technology company Heico Corp. said Tuesday that its board of directors declared a special dividend in addition to the regular $.06 per share semi-annual dividend.

The cash payments — which total $1.20 per share — will be made Dec. 21.

Heico, which has headquarters in Miami and Hollywood, said the dividends were declared because of expected tax increases in 2013. The regular six-cent per share dividend would have normally been paid in January.





The company makes replacement parts for airplanes and components for the space, defense, communications, medical and computer industries.





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Man who died during roach-eating contest choked on bug parts, autopsy says




















A man who collapsed during a roach-eating contest last month at a Broward pet shop died from choking on insect parts, according to the Broward medical examiner.

The death of Edward Archbold, 32, of West Palm Beach, has been ruled an accident, Medical Examiner Craig Mallak said Monday in an advisory. An autopsy tested negative for toxic substances.

Archbold’s airway became obstructed with “arthropod body parts” and he died of asphyxia, according to the medical examiner.





This article will be updated as more information becomes available.





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Online sales jump 24 percent early on Cyber Monday: IBM












SAN FRANCISCO (Reuters) – Online sales jumped during the first hours of Cyber Monday suggesting strong growth from earlier in the holiday shopping season continues, according to data from International Business Machines Corp.


Online sales were up 24.1 percent as of 12:00pm EST on Cyber Monday, compared to the same period a year earlier, said IBM, which tracks transaction data from 500 U.S. retail websites. In 2011, the early Cyber Monday year-over-year growth was 15 percent, IBM noted.












Strong online sales growth on Thanksgiving Day and Black Friday sparked concern that shoppers may just be buying earlier, threatening revenue later in the season.


“So far that is not the case,” said Jay Henderson, Strategy Director, IBM Smarter Commerce. “Extending the shopping season has really just fueled additional online spending rather than cannibalizing days later in the season.”


(Reporting By Alistair Barr)


Internet News Headlines – Yahoo! News


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Larry Hagman's Manager Reveals Funeral Details

Larry Hagman's manager is opening up about funeral arrangements for the Dallas star who passed away on Friday at age 81. 

RELATED: Dallas Star Larry Hagman Dies

John Castonia confirms exclusively to ET that the Hagman family will hold two private invitation-only memorial services this week, one in Texas and another in California.

RELATED: Barbara Eden Mourns Death of Larry Hagman

Castonia also revealed that Hagman's son, Preston, plans to spread Larry's ashes all over the world, per the late actor's wishes. 

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Cuomo: Sandy damage to region a staggering $42B








Gov. Cuomo said Hurricane Sandy cost the New York region a staggering $42 billion in damages - a worse housing and economic toll than Hurricane Katrina leveled on New Orleans and the Gulf.

After meeting with the New York congressional delegation, Cuomo said he would urge Congress and President Obama to cover the cost.

"Hurricane Katrina, in many ways, was not as impactful as Hurricane Sandy, believe it or not," the governor said.

"Because of the density of New York, the number of people affected, the number of properties affected was much larger in Hurricane Sandy than Hurricane Katrina. That puts the entire conversation, I believe, into focus."




Cuomo said $32.8 billion of the cost is for repair and restoration costs - about half in New York City.

Another $9.1 billion covers "mitigation and prevention" costs to prevent future flooding, particularly in MTA tunnels and underground utilities.

The prelimary estimate found more than 305,000 houses damaged or destroyed, compared to 214,700 during Katrina.

There were 2.2 million power outages, compared to 800,000 during Katrina.

And there were 265,300 New York businesses impacted, compared to 18,700 during Katrina.










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Shifting tides of Panama real estate echo Miami trends




















PANAMA CITY, Panama — As a real estate agent shows off a model apartment — white leather sectional, stainless steel appliances, open concept, ocean views — in the 59-story Yacht Club Tower, and touts its fitness center and pool deck designed to mimic a ship floating on the sea, he makes a telling statement:

“We tried to emulate the Miami style in this building.”

Approaching this Central American capital from the air, the first thing a traveler notices is a skyline on steroids — gleaming towers jutting skyward like so many pickets on a fence. There’s even a Trump high-rise here — the sail-shaped 72-story Trump Ocean Club International Hotel & Tower. And it’s not uncommon for those active in Miami real estate and development circles to try their luck in Panama or move back and forth between the markets.





Although Miami is nearly 1,200 miles from Panama City, the real estate markets of the two cities share certain similarities. Both went through booms and overbuilding and then had way too many empty condominiums. Wealthy Latin American buyers were a salvation in both cities when traditional segments of the market fell off.

“Now that things are starting to pick up in the States, they are picking up here too. Now that there’s not as much economic uncertainty in the United States, people feel more confident about Panama too,’’ said Morris Hafeitz, general manger of Emporium Developers. He used to work in Miami as a project manager for Odebrecht, the Brazilian conglomerate.

Now Hafeitz is trying to sell Allure at the Park, a 50-story building Emporium developed in Panama City’s Bella Vista neighborhood. The building is chock full of amenities — gym, teenage game room, adult lounge, toddler playroom, pool, squash court and even miniature golf on the roof — but one of its main selling points is that it overlooks a park and two low-rise historic buildings. “In the heart of the city without the hassles of the city,’’ said Hafeitz.

During the boom, many buildings in central Panama City went up practically on top of each other. “In the beginning of the boom there were no regulations on density,’’ said Mauricio Saba, a project manager at Zoom Development in Panama City and another Miami real estate alum. “I have a friend who said he could watch his neighbor’s TV from his balcony.’’

Margarita Sanclemente, a Miami real estate broker with offices in Panama City and New York, has seen it all — the boom, the irrational building and the slowdown — and has stuck with the Panamanian market.

She first ventured into Panama in 2005. The Panamanian real estate market, which had been sluggish for more than a decade, was undergoing a rebirth and Americans, lured by low prices and the low cost of living, were snapping up properties.

The sweet spot was the 1,000 to 1,500-square-foot apartment, sans maid’s quarters, which appealed to retirees from Canada and the United States, she said.

That was back when Americans still believed you couldn’t go wrong with real estate. “Some of the buyers didn’t even see the units. We sold them by phone,’’ Sanclemente said. Condo prices at new buildings such as Destiny averaged $98 to $120 per square foot. She herself bought a 1,000 square foot, one bedroom condo for $123,000 back in 2005.





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Three local Fantasy 5 winners take $67,943 each




















TALLAHASSEE, Fla. (AP) – Four tickets — three sold in South Florida — matched all five Fantasy 5 numbers and will collect $67,943. each.

The Florida Lottery said Sunday that the winning tickets were bought in North Miami, Opa-locka, Hialeah and St. Augustine.

The numbers drawn Saturday night were 6-17-26-31-34





The 384 tickets matching four numbers won $114 each; another 10,816 tickets matching three numbers won $11 each.

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Saudi telco regulator suspends Mobily prepaid sim sales












(Reuters) – Saudi Arabia‘s No.2 telecom operator Etihad Etisalat Co (Mobily) has been suspended from selling pre-paid sim cards by the industry regulator, the firm said in a statement to the kingdom’s bourse on Sunday.


Mobily’s sales of pre-paid, or pay-as-you-go, sim cards will remain halted until the company “fully meets the prepaid service provisioning requirements,” the telco said in the statement.












These requirements include a September order from regulator, Communication and Information Technology Commission (CITC). This states all pre-paid sim users must enter a personal identification number when recharging their accounts and that this number must be the same as the one registered with their mobile operator when the sim card was bought, according to a statement on the CITC website.


This measure is designed to ensure customer account details are kept up to date, the CITC said.


Mobily said the financial impact of the CITC’s decision would be “insignificant”, claiming data, corporate and postpaid revenues would meet its main growth drivers.


The firm, which competes with Saudi Telecom Co (STC) and Zain Saudi, reported a 23 percent rise in third-quarter profit in October, beating forecasts.


Prepaid mobile subscriptions are typically more popular among middle and lower income groups, with telecom operators pushing customers to shift to monthly contracts that include a data allowance.


Customers on monthly, or postpaid, contracts are also less likely to switch provider, but the bulk of customers remain on pre-paid accounts.


Mobily shares were trading down 1.4 percent at 0820 GMT on the Saudi bourse.


(Reporting by Matt Smith; Editing by Dinesh Nair)


Tech News Headlines – Yahoo! News


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Larry Hagman Dies

Larry Hagman, best known for playing Dallas villain J.R. Ewing, died Friday morning from complications stemming from his recent battle with cancer.

He was 81 years old.

Video: Larry Hagman Talks 'Dallas', Cancer and Veganism

"Larry was back in his beloved Dallas, re-enacting the iconic role he loved most," his family said in a statement via The Dallas Morning News. "When he passed, he was surrounded by loved ones. It was a peaceful passing, just as he had wished for. The family requests privacy at this time."

Hagman's rep says the late actor will be cremated.

His Dallas co-stars Linda Gray (who played his wife Sue Ellen) and Patrick Duffy (who played his brother Bobby) were reportedly at his bedside when he died, The Sun is reporting.

"Larry Hagman was my best friend for 35 years. He was the Pied Piper of life and brought joy to everyone he knew," Gray told ET in a statement. "He was creative, generous, funny, loving and talented, and I will miss him enormously. He was an original and lived life to the fullest ... The world was a brighter place because of Larry Hagman."

"Friday I lost one of the greatest friends ever to grace my life. The loneliness is only what is difficult, as Larry's peace and comfort is always what is important to me, now as when he was here," Duffy said in a statement. "He was a fighter in the gentlest way, against his obstacles and for his friends. I wear his friendship with honor."

Victoria Principal, who played Pamela Barnes Ewing, added, "Larry was bigger than life ... on screen and off. He is unforgettable, and irreplaceable, to millions of fans around the world, and in the hearts of each of us, who was lucky enough to know and love him. Look out God ... Larry's leading the parade."

Video: J.R. Menaces in New 'Dallas'

Hagman, who also starred as Air Force Captain Anthony Nelson in I Dream of Jeannie, was last seen on television in TNT's Dallas reboot, where he returned to play his most well-known character.

"Larry Hagman was a giant, a larger-than-life personality whose iconic performance as J.R. Ewing will endure as one of the most indelible in entertainment history," Warner Bros., Dallas executive producers Cynthia Cidre and Michael M. Robin, and the show's cast and crew said in a statement. "He truly loved portraying this globally recognized character, and he leaves a legacy of entertainment, generosity and grace. Everyone at Warner Bros. and in the Dallas family is deeply saddened by Larry's passing, and our thoughts are with his family and dear friends during this difficult time."

"It was truly an honor to share the screen with Mr. Larry Hagman," Dallas reboot star Jesse Metcalfe, who plays Christopher Ewing, said in a statement. "With piercing wit and undeniable charm he brought to life one of the most legendary television characters of all time. But to know the man, however briefly, was to know a passion and dedication for life and acting that was profoundly inspirational."

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No way out: 112 killed in fire at 'high risk' Bangladesh garment factory








AP


Bangladeshis and firefighters battle a fire at a garment factory in the Savar neighborhood in Dhaka, Bangladesh,where more than 100 workers were killed Saturday.



DHAKA, Bangladesh — At least 112 people were killed in a fire that raced through a multi-story garment factory just outside of Bangladesh's capital, Dhaka, an official said Sunday.

The blaze broke out late Saturday at the eight-story factory operated by Tazreen Fashions Ltd., a subsidiary of the Tuba Group, which supplies Walmart and other major retailers in the U.S. and Europe.




By Sunday morning, firefighters had recovered 100 bodies, fire department Operations Director Maj. Mohammad Mahbub told The Associated Press. He said another 12 people who had suffered injuries after jumping from the building to escape the fire later died at hospitals. The death toll could rise as the search for victims was continuing, he said.

Local media reported that up to 124 people were killed in the fire. The cause of the blaze was not immediately clear, and authorities have ordered an investigation.

Army soldiers and paramilitary border guards were deployed to help police keep the situation under control as thousands of onlookers and anxious relatives of the factory workers gathered at the scene, Mahbub said. He would not say how many people were still missing.

Tazreen was given a "high risk" safety rating after May 16, 2011, audit conducted by an ethical sourcing assessor for Wal-Mart, according to a document posted on the Tuba Group's website. It did not specify the conditions or violations that led to the rating.

A spokesman for Wal-Mart said online documents indicating that the factory received an orange or "high risk" assessment after the May 2011 inspection and a yellow or "medium risk" report after an inspection in August 2011 appeared to pertain to the factory where the fire occurred.

The August 2011 letter said Wal-Mart would conduct another inspection within one year. Spokesman Kevin Gardner said it was not clear if that inspection had been conducted, or if the factory was still making products for Wal-Mart.

If a factory is rated "orange" three times in a two-year period, Wal-Mart won't place any orders for one year. The May 2011 report was the first orange rating for the factory.

There was no indication whether the violations had been fixed since the May inspection. Neither Tazreen's owner nor Tuba Group officials could be reached for comment.

AP


Smoke billows out of the building as firefighters try and bring equipment to bear.












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