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Miami Herald
16-07-2025
- Business
- Miami Herald
New southern Haiti seaport, renovated airport spark Haitian trade mission to Miami
A new international port and an extended airport runway in Haiti's southern region are spawning hope of new trade and investment opportunities between South Florida and the Caribbean nation. That's the goal of a group of business leaders and investors from Haiti making the rounds in South Florida on Wednesday and Thursday to meet with key executives from the Port of Miami, Miami International Airport, the Beacon Council and the Greater Miami Chamber of Commerce. The visit comes as South Florida-based IBC Airways attempts to enter the Haitian market with charter and cargo service into the coastal city of Les Cayes. Jeff Lozama, a South Florida resident originally from Haiti's southwest area, says he's hoping the visit will yield greater connections and business opportunities for the region, which in January inaugurated the new International Port of Saint Louis du Sud and then three months later opened an extended runway at Antoine Simon Airport in the coastal city of Les Cayes. Both projects were carried out by the country's transitional government which, unable to make a dent in the crippling gang crisis, decided to focus on trying to boost the local economy of the southern region by bringing the two major infrastructure projects to fruition after years of being shelved by previous governments. In the case of the airport, which is named after a Haitian president who led a rebellion in the early 1900s, its 4,200-foot runway was finally extended to 6,000 feet after years of failed promises to accommodate some international flights. Last month, IBC Airways conducted a test flight, fueling hope that the region will be open to tourists once more. But despite reportedly having permits to conduct cargo and charter passenger flights for the southern airport, IBC has run into problems, leading the head of Haiti's National Airport Authority to take to the radio on Wednesday to refute accusations that the company was being blocked from entering the Haitian market. 'We are always ready to talk, to negotiate with anyone who comes with a permit,' Yves Ducarmel François, the director general of the airport authority, said on Port-au-Prince's Magik 9. 'We don't give permits, and whoever has permits we will accommodate them. Our job is to give people space so they can work.' François said a French firm is currently conducting a study on behalf of the airport authority to evaluate how the Antoine Simon Airport can become a true international airport capable of receiving Airbus jets carrying as many as 300 passengers. Also, the airport authority is preparing to sign an agreement with the private sector to have the airport operated as a public-private partnership. The airport currently receives about 180 passengers a day, all of whom come in on domestic flights operated by local carrier Sunrise Airways. A major challenge at the Les Cayes airport, François said, is its lack of space to accommodate international travelers. Regulations don't allow for domestic and international passengers to fly out of the same space, François said. 'The infrastructure has to respond to the norms,' he said. François said airport authority staffers were sent to Les Cayes to see how they could accommodate IBC Airways, and he's currently 'awaiting IBC so we can put the infrastructure in place' to assure passengers' safety. In the meantime, Lozama is hoping lessons can be learned from Miami-Dade County. 'We are trying to have very good business transactions … and connect our business environment with that of Miami-Dade County,' said Lozama, a member of the International Trade Consortium, which organized the visit. Lozama says he's not just hoping for trade and investments but he is also looking for an exchange of ideas as Haitians meet their Miami counterparts in maritime, logistics and airport infrastructure. Among those from Haiti expected to be part of the trade mission: Jocelin Vilier, the head of the National Port Authority; Jean Nathan Letang, the president of the Chamber of Commerce of Industry of Southern Haiti, and Cosy Joseph, an IT professional who worked in the U.S. and now heads Ideal Group S.A., which invests in agriculture and poultry farming. Joseph also sits on the board of the Chamber of Commerce of Women entrepreneurs and Professionals of Southern Haiti. Also joining the group will be experts in maritime and ports logistics, international consultancy and the head of the Collective of Chambers of Commerce and Industry of the Grand South. In addition to making connections, the visit will also offer opportunities to learn from Miami-Dade's experience in managing large-scale infrastructure projects and exchange ideas on development strategies in Les Cayes. Gerard Philippeaux, the executive director of the Miami-Dade International Trade Consortium, said he's confident of the mission's success. 'The Miami-Dade business community has international experience and will embrace the opportunities presented to them,' said Philippeaux. 'I applaud the members of this Haitian delegation for their fortitude in showcasing all the business and investment possibilities in existence in the southern region of Haiti.' While the Les Cayes airport is a government initiative, the port is a private venture. The vision of Pierre Leger, an agronomist and leading investor before his death in February at age 77, and Ann Hauge, an American who has been involved in Haiti for decades, the International Port of Saint Louis du Sud was finally inaugurated in January when the transitional government signed the necessary agreements to make it operational. The $6.5 million port can accommodate vessels up to 490 feet in length. Since its inauguration the southern port has received several ships including a vessel delivering cement from Panama and another with rice from Cap-Haïtien in the north. Though questions remain about the government's ability to put in place the proper security measures to prevent a possible gang incursion, the port is viewed as a positive development in a region where people are desperate for access to the outside world. On the day of the inauguration, Hauge called for support for the port in encouraging 'the economy of the Greater South to be unblocked without gangs, without insecurity.' The Great South encompasses four regional departments in Haiti: the South/ Southwest, Southeast, Grande'Anse and Nippes. According to the United Nations International Organization for Migration, the four areas are home to more than 497,000 people who have been forced to flee their homes by gangs. Unlike Port-au-Prince, which has been almost completely overtaken by armed gangs, the southern regions of Haiti remain relatively calm. Still, the gang crisis in the capital has led to the south's isolation— and a higher cost of living for residents as major roads and tourism remain cut off by the gangs. In 2021, Les Cayes and other nearby cities were struck by a 7.2-magnitude earthquake that killed more than 2,200 people and caused widespread destruction. Nearly four years later, the region of rolling green mountains and vast farmland still has not fully recovered.
Business Journals
11-07-2025
- Business
- Business Journals
Avoiding surprises as your company grows
It's been said that bankers hate surprises. So who better to turn to in an unpredictable and volatile market such as this one than a commercial banking team that has the experience and know-how to navigate in any business climate? In this table of experts discussion hosted by Synovus Bank and held at the Miami offices of the South Florida Business Journal, bankers and business owners discussed the current economy and expectations for the future. They explored the impact of interest rates; tariffs, commercial lending and international markets; as well as how middle market businesses can work effectively with their commercial banking team to handle current and future risks. Amid an ever-shifting business landscape in and beyond South Florida, they also explored how the complicated global trade environment could impact the region's growth prospects and how working with the right banker can provide the operational and financial flexibility to thrive in uncertain times. The main takeaway from the discussion was clear: when a business needs help preparing for the unexpected, a bank can help; business owners should not hesitate to make the call. 'Whether it be the impact of tariffs on your profit margin, a supply chain snag, or some other situation, if you see something happening that will affect your business, say something,' reiterated Michael Walker, Executive Director of Middle Market Banking at Synovus Bank. The discussion also explored current business conditions from the unique perspective of two South Florida-based companies. One was that of Willy Rosell, chairman of Seafarers Inc. The company offers fresh and frozen seafood, often imported from overseas markets. The other was Sam Nehme, the owner of Broward Motorsports, a leading dealer of new and used motorcycles, scooters, ATVs, personal watercraft, power equipment and boat trailers from Miami to Orlando. Like Seafarers, many brands among Broward's product line that include Can-Am, Honda, Kawasaki, Sea-Doo, Spyder, Ducati, BMW, KTM, Triumph, Suzuki and Yamaha are imported. Each shared how they've relied on the experience of their banking and financial partners to improve their response to unpredictable times. Five years later, COVID lessons remain Five years after the global pandemic disrupted the world economy, businesses have learned a thing or two about how to face unexpected and unprecedented circumstances. The ability to adapt quickly to an uncertain future has become table stakes for companies facing direct impact to revenues, cash flow and overall profitability. The experts acknowledged the challenges of the COVID era, during which companies learned to handle supply chain challenges, factory slowdowns, inventory issues, supplier struggles, and sluggish customer demand. Many businesses worked with their bankers to take advantage of $792 billion in Payroll Protection Programs (PPP loans). For Rosell's business, ordering and pricing, in particular, proved especially challenging, he recalled. Facing pandemic-era supply chain issues, the company learned to better balance inventory, adjust pricing and meet customer demands. 'In the end,' he said, 'it was very profitable.' 'On the banking side, bankers needed to put in extra time working with their clients during the pandemic to understand how their business was being affected and how they needed assistance. That's the timelessness of the banker-business customer relationship,' Walker said. 'This is where we shine. We truly want to be a trusted financial advisor to the client. Together we will work toward a solution.' Despite the challenges of the COVID period, resilient companies were rewarded with post-pandemic growth. Both Rosell & Nehme say the market eventually recovered, delivering record sales. Nehme called it a 'learning curve' with 'a lot of adjustments.' A new uncertainty: Tariffs Fast forward to 2025 and new struggles have emerged. The economy has been strong, but for businesses that import so much of their product, how will tariffs effect South Florida businesses' ability to handle new, never-before-seen challenges? Rosell reiterated what some have been warning of—there will be some economic suffering on the path to prosperity. At Seafarers, the process of importing seafood - from order to delivery - can take up to 90 days. Importers are planning for near-term purchases; longer-term planning lacks any certainty. Case in point: The Friday before this discussion, about 100 containers were cancelled. The week after, the administration delayed implementation of higher tariffs on China by 90 days. 'A lot of companies are not making decisions about what to buy through the end of the year,' he said. 'There's a lot of questions out there.' With the varying tariffs - or 'import duties,' as he suggested - affecting source countries differently, importers small and large are still questioning how much of the cost to pass on to consumers. That's where communication plays a role, said Jim Baiter, regional credit officer with Synovus Bank. Working with his banker, Rosell prepared his company for financial uncertainty. He diversified and balanced his suppliers to multiple countries throughout the Americas and Asia, and effectively diversified his risk. By staying in close contact his banker, Rosell was able to recalibrate his approach based on evolving market conditions. Nehme stocked up his inventory. With some 3,000 vehicles currently in stock, he's selling his current stock. Yet, he doesn't want to order too much new product, concerned what demand may be with tariffs possibly causing prices to rise. Already, some brands he sells are moving their manufacturing to the U.S. 'In a nutshell, we're going to wait and see what happens,' he said. 'For south Florida, it's going to hurt a little to get there, but at the end of the day, it's going to be a good thing.' Rosell also sought financial flexibility to withstand the uncertainty that tariffs could bring. He leveraged his strengths to position Seafarers to better weather the challenges, Baiter said. For a banker, it is important for clients to know that they need to minimize surprises and understand the need to communicate with the bank in order to help plan for their future. 'It's about selecting the right client, having the conversation, creating balance, and being there to help them out,' he said. 'The person who puts their head in the sand, we worry about them.' Different sources, different solutions Baiter highlighted the differences between Seafarers' and Broward Motorsports' sourcing models. Rosell imports from brokers who source from suppliers, whereas Nehme works with global manufacturers, often ordering and paying with traditional terms. Their credit instruments vary, as do their terms and conditions. Rosell might need more money up front; Nehme employs working capital. Both face implications from tariffs. 'They're both dealing with tariffs, but from completely different angles,' Baiter said. Over two-thirds of the buyers at Broward Motorsports finance their purchases. Nehme believes the Federal Reserve will decrease interest rates this year; maybe not to COVID levels, but a cut will drive consumer sentiment and purchases and enable companies to grow. Manufacturers such as Honda and Yamaha have their own financing departments, whose offers can help drive sales. However, if higher rates spook consumers and banks, market nervousness could lead to lower demand in the near term as everyone works to better understand how these policy changes will affect them. Florida has been buffered from some of the sluggishness experienced by other parts of the country. Consumers here are eager to buy a motorcycle, ATV or personal watercraft and will often look past the greater economy and make a purchase, Nehme said. Within reason, he doesn't expect tariffs to dramatically impact sales. Broward Motorsports' Honda and Yamaha products from Japan generally face a 10% tariff. Yet, specific items, like cars and auto parts, face a higher 25% tariff. The proposed 24% tariff on some imports to the U.S. has been temporarily paused. A 10% price hike won't dissuade his customers. 'Florida always handles it better,' Nehme joked. 'People will buy a new motorcycle before they put a new roof on the house. People want to use their toys.' The market's evolving nature requires focused attention on trends and sentiments, he added. His company might source more used inventory, for example, but will turn to his banker for guidance and support as part of the process. 'You need to adjust and maneuver to what's going on,' he said. 'When you're dealing with someone one on one, and they know your business, that's what defines a good partner.' Rosell asserts that Synovus excels in this regard. He believes Synovus is more eager to work with customers than other banks. It's this kind of structured, thoughtful approach to business operations and potential growth that clients want to see. Baiter summed it up as it the difference between being transactional versus relationship-driven A transactional customer may leave for 25 basis points on a loan and not value the banker or the relationship, he said. A customer that truly understands and values the relationship is in it for the long haul. 'With communications comes understanding that allows a banker or financial partner to lend insights,' Walker said. 'If we understand what's driving a situation, we can deliver consistent solutions to help the customer today, and into the future.' Reacting to changing currents Change is inevitable. Rosell has worked with some customers for 15 years; they understand higher cost of goods, whether from interest rates, tariffs or other expenses on his part and 'will not require an explanation.' Profit margins might change. Baiter acknowledged some smaller companies might go out of business, which can lead to opportunities for others like Seafarers to capture additional market share. Asked whether market conditions can better position a company for uncertain times, both executives are exploring their options. Broward Motorsports has entered markets beyond its current locations. In 2023, they added Palmetto Motorsports in Miami. They might not have made that deal in years past, Nehme said, but he sought counsel from his long-term relationship banker with Synovus. In early 2025, Broward Motorsports began looking for shop owners hoping to retire or exit their businesses and has been contacted by others exploring their options in questionable times, Nehme said. His banking relationships open the door to new possibilities. 'I look at it as taking advantage of available opportunities, particularly for us to go out and acquire more,' he said. Rosell is looking for smaller distributors and importers, including those he's built strong relationships with in the past. 'New markets are important,' he said. Closing thoughts Executives agreed that technology is aiding in the pursuit of daily business operations and new opportunities. Bankers are deploying customer relationship management (CRM) solutions and exploring artificial intelligence to manage workload, marketing, even performing due diligence on investments and other projects. 'We're looking to use AI for aspects of the business where it makes sense. It's designed to help us be more efficient, and understand potential risks,' Walker said. 'AI won't replace the banker, and it won't be able to understand the character of our clients or the relationships we build with our clients like bankers do today.' In that case, bankers are leaning in on relationships. Like Seafarers and Broward Motorsports, Synovus sees south Florida as a vital market, a place to expand market share. To better serve and find customers like these, the bank is hiring staff who understand the market and its players.
Miami Herald
25-06-2025
- Miami Herald
Music promoter pleads guilty in two pharmaceutical drug cases in Miami
A music promoter charged with distributing millions of dollars worth of 'adulterated' psychiatric, cancer and HIV medications and laundering the profits pleaded guilty in two Miami federal cases on Tuesday. Boris Arencibia, 51, who has been detained as a flight-risk to Cuba since his arrest last year, was convicted in one case of conspiring to traffic in medical products with false documentation between 2022 and 2023. In another case, Arencibia was also convicted of conspiring to commit money laundering stemming from a pharmaceutical drug-diversion scheme dating back a decade. His partner in the first case, Jose Armando Rivera, 44, who has been free on bond, also pleaded guilty on Tuesday to the same false documentation charge. Both Miami-Dade men face between three and five years at their sentencing in September before U.S. District Judge Darrin Gayles. Their plea agreements in the first scheme require them to pay $21 million to the federal government for its losses, Gayles said in court. Separately, Arencibia must pay a forfeiture judgment of $7 million in the money laundering case. According to a charging document, Arencibia and Rivera owned part of a Texas wholesale distributor, Eclipse Meds, LLC. They bought pharmaceutical drugs from people in Puerto Rico and the United States and used Eclipse Meds to distribute them to pharmacies in Miami-Dade and other parts of the country. The pharmacies, in turn, sold them to patients with private or government insurance plans, such as Medicare for senior citizens. To make the wholesale network look legitimate, they forged documents saying the adulterated pharmaceutical drugs came from licensed suppliers, according to federal prosecutors. Arencibia and Rivera, represented by defense attorneys Frank Quintero and Michael Band, agreed to the plea agreements with prosecutors Frank Tamen and Jacqueline Zee DerOvanesian, to avoid potentially higher prison sentences. 'Based on the facts that Mr. Arencibia has been held without bond since January 2024 and that he is not cooperating, we felt that it was in his best interest to resolve both cases if we could negotiate favorable agreements in both cases,' Quintero said in a statement. 'We accomplished that. However, the ultimate sentence in both cases will be up to the Judge.' Of the two defendants, Arencibia stands out for his controversial history as a music promoter. Until his arrest at his Kendall home in January of last year, Arencibia worked as the owner and president of South Florida-based Caribe Promotions. He represented musicians and boxers, including Cuban professional boxer Guillermo Rigondeaux. The promoter caught the ire of Miami's Cuban community after acknowledging that he was an organizer of the Santa María Music Fest in August 2023, which was deemed controversial by some due to its financial links to the Cuban military. A social media influencer from Kentucky got into a fight with Arencibia over the concert, but no one was charged.. In February of last year, a magistrate judge rejected Arencibia's bid for a bond and ordered that he be held at a federal lock-after finding he might flee to his native Cuba because of his contacts from the Santa María festival. The latest criminal case wasn't the first time Arencibia caught the attention of federal prosecutors. In 2000, Arencibia was accused of possessing equipment that could create fraudulent credit cards, according to Miami federal court records. He took a plea deal and was sentenced to six months in federal prison followed by three years of probation. Arencibia's permanent residency status in the United States was subsequently revoked.
Business Wire
24-06-2025
- Health
- Business Wire
Segal Trials Investigator Dr. Olga Lapeyra Contributes to Pivotal Migraine Study Leading to FDA Approval of Atzumi™
MIAMI--(BUSINESS WIRE)--Segal Trials, a South Florida-based clinical research network specializing in psychiatric and neurological disorders, is proud to recognize the contributions of Dr. Olga Lapeyra to the successful Satsuma Pharmaceuticals Phase 3 clinical trial evaluating Atzumi™ (dihydroergotamine nasal powder), recently approved by the U.S. Food and Drug Administration (FDA) for the acute treatment of migraine with or without aura in adults. Millions of Americans suffer from the disabling effects of migraine,' said Dr. Olga Lapeyra. 'This approval represents a major advancement in offering patients a fast, convenient, and well-tolerated option, particularly for those who haven't found relief." Share As a principal investigator at Segal Trials, Dr. Lapeyra played an important role in the Atzumi trial, overseeing recruitment, subject care, and clinical integrity throughout the studies. Her efforts led to the successful randomization of 43 subjects and helped support the trial's momentum and data quality. 'Millions of Americans suffer from the disabling effects of migraine,' said Dr. Olga Lapeyra. 'This approval represents a major advancement in offering patients a fast, convenient, and well-tolerated option, particularly for those who haven't found relief through conventional treatments. I'm proud to have contributed to this meaningful work.' Migraine remains one of the most prevalent and burdensome neurological conditions, affecting an estimated 40 million people in the U.S. and ranking among the top causes of disability worldwide. Atzumi offers patients a non-injectable formulation of dihydroergotamine (DHE), a longstanding and effective migraine treatment, now delivered via a novel, easy-to-use nasal powder. About Segal Trials Founded in 1998, Segal Trials is a privately held clinical research network with sites throughout South Florida. Specializing in psychiatry, neurology, and women's health, Segal Trials is committed to high-quality phase I-III clinical trials and reaching sponsor enrollment goals. Atzumi - IMPORTANT SAFETY INFORMATION:
Yahoo
24-06-2025
- Health
- Yahoo
Segal Trials Investigator Dr. Olga Lapeyra Contributes to Pivotal Migraine Study Leading to FDA Approval of Atzumi™
MIAMI, June 24, 2025--(BUSINESS WIRE)--Segal Trials, a South Florida-based clinical research network specializing in psychiatric and neurological disorders, is proud to recognize the contributions of Dr. Olga Lapeyra to the successful Satsuma Pharmaceuticals Phase 3 clinical trial evaluating Atzumi™ (dihydroergotamine nasal powder), recently approved by the U.S. Food and Drug Administration (FDA) for the acute treatment of migraine with or without aura in adults. As a principal investigator at Segal Trials, Dr. Lapeyra played an important role in the Atzumi trial, overseeing recruitment, subject care, and clinical integrity throughout the studies. Her efforts led to the successful randomization of 43 subjects and helped support the trial's momentum and data quality. "Millions of Americans suffer from the disabling effects of migraine," said Dr. Olga Lapeyra. "This approval represents a major advancement in offering patients a fast, convenient, and well-tolerated option, particularly for those who haven't found relief through conventional treatments. I'm proud to have contributed to this meaningful work." Migraine remains one of the most prevalent and burdensome neurological conditions, affecting an estimated 40 million people in the U.S. and ranking among the top causes of disability worldwide. Atzumi offers patients a non-injectable formulation of dihydroergotamine (DHE), a longstanding and effective migraine treatment, now delivered via a novel, easy-to-use nasal powder. About Segal Trials Founded in 1998, Segal Trials is a privately held clinical research network with sites throughout South Florida. Specializing in psychiatry, neurology, and women's health, Segal Trials is committed to high-quality phase I-III clinical trials and reaching sponsor enrollment goals. Atzumi - IMPORTANT SAFETY INFORMATION: View source version on Contacts For Media InquiriesSegal TrialsEmail: marketing@ Website: Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
