Newspaper article The Florida Times Union

Morning Briefing

Newspaper article The Florida Times Union

Morning Briefing

Article excerpt


Jacksonville Bancorp has completed a secondary stock offering, raising $4.7 million in capital, the company said yesterday.

The parent company of Jacksonville Bank said it sold 225,000 units at $21 apiece to more than 100 investors without the services of an underwriter. Each unit consisted of two shares of common stock and a stock purchase warrant.

The capital will allow the community bank to pursue its growth strategy in Northeast Florida.


Qwest Communications has agreed to pay $3.25 million to settle complaints in Florida that it engaged in "slamming," the illegal practice of switching customers' long-distance carriers without permission.

The Denver-based telecommunications company has had to settle similar complaints in more than a dozen states over the years.

Qwest spokesman Chris Hardman said the Florida complaints go back several years. Hardman also said the company since has terminated third-party agents for "not adhering to our anti-slamming policy."


Computer giant Gateway Inc. has been hit with a $3.6 million federal jury verdict for a wrong number that flooded a promotional company's toll-free telephone line with calls from thousands of angry Gateway customers.

The number belongs to Mo' Money, a Pensacola business that manufactures and distributes promotional items with company logos, including T-shirts, caps, gym bags and jackets.

"It was a nightmare," Mo' Money President Cliff Mowe said. "We had as many as 8,000 extra calls a month, and these were all angry people."

In January 1999, someone at Gateway erred by incorrectly using the 800 prefix instead of 888 for its toll-free customer complaint line. The number went to more than 275 Gateway retail stores, was posted on Gateway's Web site, listed on Internet billings and included on a form distributed to more than 100,000 Gateway customers. …

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