Two boat rental companies ordered to stop operations on West Palm Beach waterfront
JetRide, a club that lets members use boats at locations across Florida, was told to end operations at the city's docks in March. Visit Palm Beach, which offers boat tours and kayak and paddleboard rentals, was required to remove a floating dock and had to stop its rentals.
Both moves were prompted by a warning from the state that the business' waterfront activities violated rules for use of docks in the Intracoastal Waterway, city records show.
The city operates its downtown docks, which extend into state-owned submerged lands in the Intracoastal, through a leasing agreement with the state, which requires it to abide by state regulations.
Last year an inspection by the state Department of Environmental Protection found that Visit Palm Beach and JetRide had installed their own floating docks alongside the city docks, in violation of state rules, records show.
In addition, a city attorney said JetRide's operations violated a provision of the city's lease with the state that requires all dock space be available to the general public on a first-come, first-served basis.
'JetRide is a private membership-only boat service whose occupation of the City docks prevented use by the general public on a first-come basis,' Deputy City Attorney Nancy Urcheck wrote to a JetRide representative in April. 'The City cannot allow a private members-only boating club to occupy and operate from the City docks.'
An executive at Visit Palm Beach, which leases space on the waterfront from the city, told The Palm Beach Post that it had to remove its floating docks and other equipment. As a result, Visit Palm Beach stopped renting many watercraft it used to provide to customers along the waterfront.
'We had to remove our floating docks and everything except our one catamaran, Hakuna Matata,' Leigh Bennett, Visit Palm Beach's director of business development, said via email. 'Our other catamaran, jet skis, kayaks and paddleboards are no longer available from downtown. Without the floating docks, it's too dangerous.'
A February consent-order agreement with the DEP required the city to pay a $5,000 fine, remove 'all unauthorized structures and vessels' and install signs making clear that the docks are available to the public on a 'first come, first served' basis.
A DEP spokesperson did not respond to a request for comment.
JetRide's ban from the waterfront prompted complaints from employees and customers, who filed into a city commission meeting this month to ask for the company to be reinstated.
'We bring life to the waterfront,' said Travis Zielasko, the company's founder. 'We're asking for the opportunity to continue serving the community we came from.'
The company is aimed at people interested in boating but who don't have the financial means or space to own and maintain their own boats. Members pay a monthly membership fee and are able to use the company's boats for daily outings.
JetRide, which formed in 2017 in West Palm Beach, said in a message to the city that it has approximately 500 members in the city's downtown and another 1,500 in Palm Beach County.
The company said in a statement that it wants city officials to work with the company and the state on an arrangement that would let it continue to operate on the docks. Shutting down the company's operations, it said, denies hundreds of city residents an easy and affordable way to take boats on the water.
'We're proud of what we've built here,' Zielasko said in a statement. 'All we're asking for is a meeting — to sit down, talk and figure out a way to continue giving people access to boating in West Palm Beach.'
Sitima Fowler, president of the West Palm Beach Downtown Neighborhood Association, said she and many other downtown residents used and enjoyed the company's service. She said she was surprised it was being banned so suddenly after operating downtown for years.
'We are so sad that we've lost the only boat rental amenity we had on the waterfront,' she said. 'It doesn't make sense to us at all. JetRide has been in business for a long time here. I know we've been members for over three years. All of a sudden they can't do business here?'
Andrew Marra is a reporter at The Palm Beach Post. Reach him at amarra@pbpost.com.
This article originally appeared on Palm Beach Post: JetRide, Visit Palm Beach restricted on West Palm Beach waterfront
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
3 minutes ago
- Yahoo
Philip Morris Stock Outlook: Is Wall Street Bullish or Bearish?
With a market cap of $253.7 billion, Philip Morris International Inc. (PM) is a global tobacco company focused on delivering a smoke-free future. Its product portfolio includes traditional cigarettes, smoke-free alternatives like IQOS and ZYN, and expanding offerings in wellness and healthcare. Shares of the Stamford, Connecticut-based company have outperformed the broader market over the past 52 weeks. PM stock has surged 38.3% over this time frame, while the broader S&P 500 Index ($SPX) has gained 18.4%. Moreover, shares of Philip Morris are up 35.4% on a YTD basis, compared to SPX's 7.6% increase. More News from Barchart Dear Nvidia Stock Fans, Mark Your Calendars for August 27 Options Traders Expected Palantir Stock's Tamest Earnings Reaction in a Year. Did They Get It Right? Tesla Gains on Elon Musk's New Pay Package. Is TSLA Stock a Buy? Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Narrowing the focus, the tobacco giant stock has also outpaced the Consumer Staples Select Sector SPDR Fund's (XLP) 1.6% rise over the past 52 weeks. Despite reporting a better-than-expected Q2 2025 adjusted EPS of $1.91, shares of Philip Morris tumbled 8.4% on Jul. 22. Total sales rose 7.1% to $10.1 billion and ZYN shipments came in at 190 million cans, both missing analysts' estimates. For the fiscal year ending in December 2025, analysts expect PM's adjusted EPS to grow 14.3% year-over-year to $7.51. The company's earnings surprise history is promising. It beat the consensus estimates in the last four quarters. Among the 14 analysts covering the stock, the consensus rating is a 'Strong Buy.' That's based on nine 'Strong Buy' ratings, two 'Moderate Buys,' and three 'Holds.' On Jul. 14, UBS maintained its 'Neutral' rating on Philip Morris but raised its price target to $181, citing strong smoke-free margin growth driven by IQOS and ZYN, with robust U.S. volume projections and revised earnings estimates through 2027. As of writing, the stock is trading below the mean price target of $193.38. The Street-high price target of $220 implies a potential upside of nearly 35% from the current price. On the date of publication, Sohini Mondal did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 minutes ago
- Yahoo
Alcon Expands Vision Correction Portfolio With STAAR Surgical Acquisition
On Tuesday, the eye care company Alcon Plc (NYSE:ALC) agreed to acquire STAAR Surgical Company (NASDAQ:STAA), the manufacturer of the implantable collamer lens (ICL). The acquisition includes the EVO family of lenses (EVO ICL) for vision correction for patients with moderate to high myopia (nearsightedness), with or without astigmatism. Alcon will purchase all outstanding shares of STAAR common stock for $28 per share in cash, which represents approximately a 59% premium to STAAR's 90-day Volume Weighted Average Price (VWAP) and a 51% premium to the closing price of STAAR common stock on August 4, transaction represents a total equity value of approximately $1.5 billion. Alcon intends to finance the transaction by issuing short- and long-term credit facilities. The transaction is anticipated to close in approximately six to 12 months and is expected to be accretive to earnings in year two. 'With the number of high myopes rising globally, the acquisition of STAAR enhances our ability to offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK,' said David Endicott, CEO of Alcon. An estimated 50% of the world will be myopic by 2050, and today, nearly 500 million people are considered high myopes. The EVO family of ICLs are implanted between the iris (the colored part of the eye) and the natural crystalline lens during a procedure that does not remove corneal tissue. This move follows Alcon's recent announcement in July regarding its intention to acquire LumiThera, Inc. and its Photobiomodulation (PBM) Device for dry age-related macular degeneration (AMD). Data from the LIGHTSITE I, II, and III clinical trials consistently showed that PBM treatments provide visual acuity improvement with no treatment-related serious adverse events reported. PBM received FDA de novo market authorization in November 2024 and CE Mark in November 2018. PBM is available in Europe, Latin America, Singapore, the U.K., and the U.S. The transaction does not include the acquisition of AdaptDx and Nova/Diopsys diagnostic devices, which will be separated and spun off to LumiThera's shareholders before Alcon's acquisition and will continue to be marketed and sold by the LumiThera spin-off. Alcon and LumiThera anticipate the acquisition to be completed in the third quarter of 2025. Price Action: ALC stock is trading lower by 1.17% to $86.79 premarket, and STAA stock is trading higher by 44.9% to $26.78 at last check Tuesday. Read Next:Photo via Shutterstock Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? STAAR SURGICAL (STAA): Free Stock Analysis Report This article Alcon Expands Vision Correction Portfolio With STAAR Surgical Acquisition originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 minutes ago
- Yahoo
Caterpillar projects tariffs could cost the company up to $1.5 billion in 2025
Caterpillar's operating profit margin and sales and revenue numbers fell in the second quarter of 2025 amid ongoing uncertainty and global economic changes sparked by President Donald Trump's tariff increases. Caterpillar CFO Andrew Bonfield told investors on a call Tuesday that the net impact of tariffs on Caterpillar this year will be between $1.3 billion and $1.5 billion. The Texas-based manufacturer, which has a heavy presence in the Peoria area, posted a 1% decrease in sales and revenues in Q2 compared to this time last year and a 2.6% decrease in operating profit margin. Profits per share fell to $4.62 in the second quarter compared to $5.48 last year. Adjusted profit shares were $4.72 this quarter, down from $5.99 last year. Caterpillar CEO Joe Creed said these numbers all met or went above Caterpillar's expectations for the quarter but told investors on the call that the impact of tariffs hit the high end of Caterpillar's estimates and the impact of tariffs on their numbers was expected to grow in the second half of the year. More: Why former CEO has 'confidence' Caterpillar will be in Peoria for 'a very long time' The Trump administration has been haphazardly negotiating trade deals with nations around the globe, many of which include increases in tariff rates on goods. They have been subject to change as the administration has changed the terms and numbers of deals as negotiations progress. Creed told investors on Tuesday that Caterpillar has deployed some "initial mitigation" efforts to curb the impact of tariffs but added the company is "considering all options" as they await more "sufficient certainty" on tariffs. In response to an investor question on the call, Creed said that Caterpillar's unique global supply chain has added complexity to the situation but he said Caterpillar is still waiting on more certainty and is still working to fully understand the latest tariff announcement from the government. On July 31, Trump signed an executive order that placed reciprocal tariffs on 70 countries at rates ranging from 15% to 41%. Those tariffs are expected to go into place on Aug. 7. Caterpillar's numbers were also lower in the first quarter of 2025 as tariffs have increased costs on the global manufacturer. In April, Creed told investors on a call that he expected tariffs to have a cost headwind of between $250 million and $350 million in Q2. Bonfield said Tuesday the tariff impact in the third quarter is expected to grow to $400 million to $500 million. Roughly 20% of the tariff impact will be on resource industries and 25% will be on transportation. The decrease in sales and revenues was because of "unfavorable price realization of $414 million," Caterpillar said. Despite the negative impact of tariffs, demand remains high and backlog at Caterpillar continues to grow, signaling positive markers for Caterpillar, Creed and Bonfield told investors on Tuesday. This article originally appeared on Journal Star: Caterpillar earnings fall in second quarter amid Trump tariff hikes
