Mark Basch

Florida

Contributor at The Daily Record (Jacksonville, FL)

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Articles

UNF survey finds ‘notable decline’ in confidence among Jacksonville manufacturers

2 days ago | jaxdailyrecord.com | Mark Basch

A monthly survey of Jacksonville area manufacturing companies by the University of North Florida found a big dip in confidence about conditions in the months ahead. Meanwhile, a quarterly survey of global businesses by Jacksonville-based Dun & Bradstreet also found a decline in optimism. A Purchasing Managers Index’ derived from the survey by UNF’s Local Economic Indicators Project registered 49 in March, indicating a contraction in the local economy.
Northeast Florida unemployment rate drops to 3.6%

6 days ago | jaxdailyrecord.com | Mark Basch

Jacksonville’s unemployment rate edged lower in March, with modest growth in jobs across most industry sectors. The jobless rate in the Jacksonville metropolitan area of Baker, Clay, Duval, Nassau and St. Johns counties fell from 3.8% in February to 3.6% last month, the Florida Department of Commerce reported April 18. All five counties in the metro area registered 0.2 percentage point declines last month.
CSX earnings fall but CEO says tariffs aren’t yet an issue

1 week ago | jaxdailyrecord.com | Mark Basch

CSX Corp. reported lower first-quarter earnings that were below expectations, but the global trade war is not having a big impact, CEO Joe Hinrichs said. “In the near term, our demand is pretty strong from most of our customer segments,” Hinrichs said in an April 17 interview. However, predicting future results is difficult. “The key word you’re hearing from everybody is uncertainty,” he said.
FIS buying credit processing business for $13.5 billion

1 week ago | jaxdailyrecord.com | Mark Basch

Fidelity National Information Services Inc., or FIS, announced a $13.5 billion agreement April 17 to buy the credit processing business of Global Payments Inc. At the same time, Jacksonville-based FIS will sell its 45% stake in payments processing company Worldpay to Global Payments for $6.6 billion. FIS had sold 55% of Worldpay to private equity firm GTCR in February 2024. Atlanta-based Global Payments also is buying GTCR’s majority interest in Worldpay.
Redwire founding firm to again become company’s majority owner

1 week ago | jaxdailyrecord.com | Mark Basch

Five years after AE Industrial Partners began merging space technology businesses together to form Redwire Corp., the investment firm is about to again become majority owner of the Jacksonville-based company. After taking Redwire public, AEI continues to control about 43% of the stock. An affiliate of AEI also owns Edge Autonomy, a maker of uncrewed airborne system technology.
Landstar System says supply chain fraud may lower earnings

2 weeks ago | jaxdailyrecord.com | Mark Basch

Landstar System Inc.’s first-quarter revenue met its expectations, but the Jacksonville-based trucking company said two factors may significantly reduce its earnings. “During the last fiscal week of the Company’s first fiscal quarter of 2025, the Company identified a significant supply chain fraud that remains under investigation and does not involve the Company’s core North American truckload services,” Landstar said in an April 2 Securities and Exchange Commission filing.
Fidelity National Financial defies market

3 weeks ago | jaxdailyrecord.com | Mark Basch

In a generally dismal first quarter for stocks, Fidelity National Financial Inc. defied the market, rising 16%. At least one analyst expects the Jacksonville-based title insurance company to continue outperforming the market as the housing outlook improves.
Pretium Packaging closing Jacksonville plant, laying off 48 workers

3 weeks ago | jaxdailyrecord.com | Mark Basch

A St. Louis-based packaging company filed a notice with state officials March 31 saying it is closing its Jacksonville manufacturing plant, resulting in the permanent layoff of 48 workers. Pretium Packaging LLC said in a letter to the Florida Department of Commerce it is permanently closing its plant at 1550 Ellis Road N. The layoffs will begin May 30 and be completed by June 30, it said. Pretium’s website lists 16 other U.S. manufacturing facilities plus plants in Canada, Mexico and Europe.
Khan increases wealth, but slips on world’s richest list

3 weeks ago | jaxdailyrecord.com | Mark Basch

Shad Khan was already one of the wealthiest people in the world but he became even richer in the past year, according to Forbes magazine’s annual World’s Billionaires list. The magazine said Khan is worth $13.4 billion, up from $12.2 billion last year, in a story posted on its website April 1. While his wealth increased, the Jacksonville Jaguars owner’s ranking on the list of billionaires slipped from 162nd in 2024 to 175th this year.
EverBank completes acquisition of Sterling Bank and Trust

3 weeks ago | jaxdailyrecord.com | Mark Basch

EverBank Financial Corp. said April 1 it completed the acquisition of Sterling Bank and Trust F.S.B, a deal that expands the Jacksonville-based bank’s branch network in California. EverBank acquired 25 Sterling branches in the San Francisco and Los Angeles markets and one branch in New York. “The acquisition of Sterling Bank is an important milestone for our long-term growth strategy in California and nationwide,” EverBank CEO Greg Seibly said in a news release.