Miami Shipping Alliance Opposes Beckham's Soccer Arena Plan
An alliance of shipping interests and a billionaire car dealer launched a newspaper ad on Monday protesting retired English soccer star David Beckham's plans for a soccer arena at the port of Miami, saying it threatens the city's plans to capitalize on the expansion of the Panama Canal. "We cannot jeopardize well-paying jobs, like crane operators, longshore workers, and mechanics, for low-paying stadium jobs, such as concession sales," the Miami Seaport Alliance said in a full-page ad that ran in the Miami Herald and its sister Spanish-language paper, El Nuevo Herald. The group, led by John Fox, who has retired as Royal Caribbean Cruise Line's head of governmental affairs…
Miami's Port to Issue Bond to Pay Debt, Fund Tunnel Project
The port of Miami's total debt is set to pass $1 billion after Miami-Dade County commissioners approved a $225 million bond offering on Tuesday to meet existing lending agreements and pay the balance on a nearly finished underground tunnel connecting the island-port to nearby highways. Auditors in March found a potential $1.6 million gap in the port's future payments toward its mounting debt stemming from an incentive to lure a new cruise ship into harbor last year, Deputy Mayor Ed Marquez told commissioners on Tuesday. He noted ratings agency Moody's said on Friday the seaport's rating would not be impacted due to healthy reserves and strong revenue. The port has $30 million in reserves, PortMiami Director Juan Kuryla told commissioners.
