Newspaper article The Florida Times Union

Morning Briefs

Newspaper article The Florida Times Union

Morning Briefs

Article excerpt

ICS DEAL PART OF AUSSIE FIRM'S EXPANSION PLAN

Australian investment firm Babcock & Brown said Friday that its acquisition of Jacksonville-based ICS Logistics Inc. is part of an overall plan to expand its global port holdings.

The company's Babcock & Brown Infrastructure unit is paying about $542 million to buy stakes in Belgian and German port operators, as well as ICS.

The infrastructure company is buying 50 percent of ICS, with another investment fund managed by Babcock & Brown buying the other 50 percent. The specific price for ICS was not announced.

Babcock & Brown also said ICS produced adjusted earnings before interest, taxes, depreciation and amortization of about $11.3 million in 2006.

Mark Basch/The Times-Union

STAFFING FIRM NIMBUS PICKS UP NEW CONTRACTS

Nimbus, a Jacksonville-based staffing company, has landed two new contracts.

The company will recruit employees for TitleServ and Worldwide Express, both of which are expanding their sales forces. TitleServ provides title services to the mortgage industry and will use Nimbus to hire in the Northeast. Worldwide Express is a division of DHL Worldwide.

Diana Middleton/The Times-Union

U.S UNEMPLOYMENT RATE REPORTEDLY HOLDING STEADY

Employers hired at a moderate pace in November and the unemployment rate held steady at a relatively low 4.7 percent, reassuring signs for an economy that is fighting to avoid a recession.

The Labor Department's report Friday showed that companies are still adding to their ranks - albeit at a slower pace - even as deepening troubles in the housing and credit markets are weighing heavily on national economic activity.

Employers added a net 94,000 new jobs to their payrolls last month. That was down from a surprisingly strong gain of 170,000 jobs in October, but was still sufficient to prevent the unemployment rate from rising. …

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