Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

PROPERTY APPRAISAL FIRM BASIS100 MOVES HEADQUARTERS, ADDS 10 NEW JOBS HERE

A Pittsburgh company is following its chief executive officer to Jacksonville.

Basis100, an electronic property appraisal company, said it's moving its headquarters to Jacksonville. The company's president and chief executive officer since last month, Michael Johnston, has lived here since 1989 and Basis100 maintains a Jacksonville office with 12 workers, spokeswoman Sandy Koeppl said.

The restructuring, which Basis100 is calling part of its "new strategic focus," will create up to 10 new jobs in Jacksonville but eliminate 12 full-time jobs in Pittsburgh.

FIVE NYSE SPECIALIST FIRMS TO SETTLE CHARGES THEY VIOLATED SECURITIES LAWS

Five New York Stock Exchange specialist firms will pay $241.8 million to settle charges that they profited from illegal trading practices on the floor of the exchange, the Securities and Exchange Commission and NYSE said Tuesday.

The five firms -- Bear Stearns subsidiary Bear Wagner Specialists, FleetBoston subsidiary Fleet Specialist Inc., LaBranche & Co., Van der Moolen Specialists and Goldman Sachs subsidiary Spear, Leeds & Kellogg -- violated securities laws by executing their own orders for the shares they managed ahead of customers' orders, thus depriving clients of fair trades and possibly better prices, the regulators said.

More than $150 million in profits were made between 1999 and 2003, a joint investigation found.

TYCO JURORS HEAR READBACK OF CFO'S TESTIMONY ON NINTH DAY OF DELIBERATIONS

Jurors at the Tyco International corporate-looting trial began hearing a lengthy readback Tuesday of testimony from former chief financial officer Mark Swartz about $72 million in bonuses given to him and the company's former CEO.

The jury had first requested the readback last week, then asked the judge to delay it because they were making progress in the jury room. …

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