Miami-Dade ethics board rebukes two city of Miami commissioners




















The county ethics commission dinged Miami Commissioner Frank Carollo this week for phoning the police chief after Carollo was pulled over for a traffic stop.

Separately, Miami Commission Vice Chairman Marc Sarnoff was reprimanded for not filing a gift disclosure when the Greater Miami Convention & Visitors Bureau paid his way to Brazil.

Sarnoff said his travels did not constitute a gift because he carried out public business. “I did everything I could do, including getting legal advice, to determine that the trip was not a gift,” he said.





Carollo denied wrongdoing in a response to the Miami-Dade Commission on Ethics and Public Trust written by his attorney. He declined comment Wednesday.

The grievance against Carollo said that he called Miami Police Chief Manuel Orosa during a traffic stop in Coconut Grove in August. Carollo was pulled over after attempting to drive his black Lexus around a stopped recycling truck. He called the chief, who called the district commander, who reached out to the officer making the traffic stop.

The officer let Carollo go with a warning.

In the written response to the ethics commission, Carollo’s attorney said the commissioner had never asked Orosa for special treatment. Rather, Carollo called the chief “to inquire ‘what the problem was’ since the circumstances seemed odd.”

The “odd circumstances” included another car stop in the area.

“Commissioner Carollo’s request for a status [report] was well within his authority to communicate with the police chief, and was not accompanied by any request to obtain any resolution of the vehicle stop,” attorney Benedict Kuehne wrote.

Kuehne added: “The officer made the very reasonable decision to issue no traffic citation because the circumstances did not warrant the issuance of a ticket.”

Orosa also told investigators that Carollo had not asked for any favors.

But the ethics commission concluded that Carollo “clearly intended to use his influence with the police chief to avoid a traffic citation.”

“There was no legitimate reason for Carollo to call the chief of police other than to put into motion a chain of events that Carollo hoped would extricate him from a traffic situation that ordinary citizens find themselves in every day,” the ethics commission wrote.

The complaint against Sarnoff involved a trip he and his wife took to Brazil in April.

The pair went to watch the yachts in the Volvo Ocean Race depart Itajai for Miami, the next port of call. Sarnoff also travelled to Rio and Sao Paulo, with the Convention & Visitors Bureau footing the bill for his travel, lodging and meals.

Sarnoff did not disclose the trip as a gift, nor did he disclose that the Volvo Ocean Race had reimbursed him for his wife’s roundtrip airfare.

Sarnoff said he was acting on advice from Miami City Attorney Julie O. Bru. In a legal opinion, Bru said disclosure was unnecessary because the trip did not constitute a gift, but rather city business.

“I never held this secret,” Sarnoff said. “I did everything I was supposed to do. I talked about it openly.” He described the trip as “105 percent work.”

As for Teresa Sarnoff’s travel expenses, Marc Sarnoff said they, too, were incurred during “official” city business.

“The commissioner was unquestionably assisted in his official duties by Ms. Sarnoff and he quite honestly believed that Ms. Sarnoff was conducting city business,” Sarnoff’s attorney, John Dellagloria, wrote in a response to the ethics commission’s findings.

The ethics commission has said that elected officials don’t have to declare tickets to local events they attend for professional reasons. But according to the final report on the Sarnoff case, “all-expense paid trips to distant and exotic locales deserve different consideration since the grandiose scale of the gift creates a larger appearance of impropriety.”

The ethics commission will send a letter to Sarnoff suggesting he report his wife’s travel expenses as a gift. Another letter will be sent to the Miami city attorney to clarify when business trips must be reported as gifts.

The two complaints were filed last month by blogger Al Crespo.

Sarnoff also took a trip to China this year, where he watched the Miami Heat play a preseason game against the Los Angeles Clippers. In October, Sarnoff said the Heat paid for his flight and hotel. On Wednesday, he said the Shanghai Sports Bureau paid for him and his wife.

He now plans to declare that trip as a gift, he said.





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Obama takes “fiscal cliff” battle to Twitter












WASHINGTON (Reuters) – President Barack Obama opened a new front on Wednesday in the battle between Democrats and Republicans over the best way to avoid the year-end “fiscal cliff” – Twitter.


The web-savvy Obama administration launched a social media campaign that asks Twitter users to add the “#my2k” hashtag to messages with examples of what $ 2,000 means to them.












The amount is roughly what a middle-class family of four would have to pay extra in taxes next year if Congress cannot strike a deal to remove the threat of roughly $ 600 billion in tax hikes and federal spending cuts.


The fast-paced social networking site known for its zippy 140-character comments is a tried-and-true method of reaching Americans. The latest call for such searchable references is an effort to pressure Congress into finding compromise on long-held partisan views.


Obama announced the new Twitter hashtag campaign at a news conference on Wednesday. He and fellow Democrats, who oppose significant cuts to U.S. “entitlement” programs such as Medicare as a way of balancing the budget, have been trying to break Republican opposition to hiking taxes on anyone, including the wealthy.


Promotions of “#my2k” quickly went out to millions of followers of the White House Twitter account and scores of Democratic backers, including former House of Representatives Speaker Nancy Pelosi. Soon, “my2k” was a top-trending subject.


“#My2K means food for a year, the remainder of my student loan paid off or a full month of child care. $ 2200 can make or break a family,” wrote Twitter user Katrina Burchett.


In the anarchic spirit of social media, Republicans, who also polished their Twitter hashtag skills during the bitter 2012 presidential campaign, pounced quickly.


The conservative Heritage Foundation bought the promotional tweet that pops up at the top of the list if one searches for “#my2k” mentions, where the think tank offered its own take on solutions to the fiscal cliff.


House Speaker John Boehner and scores of fellow Republican lawmakers started sharing examples they hoped would put the blame for the lack of a resolution on the Democrats.


“We in the House took steps this summer to avert #fiscalcliff and stop #my2K tax hikes,” wrote Representative Mike Turner. “It’s time for @whitehouse and @SenateDems to act.”


‘BEING AWARE OF WHAT’S GOING ON’


Users on Twitter can sign up to follow one another’s messages, making searchable hashtags a helpful way to sort by subject or theme.


Marcus Messner, who studies social media at Virginia Commonwealth University, said Twitter was a perfect environment to reignite Obama’s base swiftly and gauge public engagement on the issue.


The Obama administration has used Twitter hashtags as part of lobbying campaigns to keep student loan rates low with #dontdoublemyrate and to extend payroll tax cuts with #40dollars, which was their estimate of how much the cuts saved an average family each year.


White House Social Media Director Macon Phillips later called the $ 40dollars hashtag “one of the most significant campaigns we ran on Twitter.”


“It’s about being aware of what’s going on and understanding that in the age of social media, you’re just a participant,” he told an Entrepreneur.com blogger in February. “It’s not something that you can control.”


(Editing by Peter Cooney)


Internet News Headlines – Yahoo! News


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First ET Interview: Anthony Hopkins' Inner Turmoil

Anthony Hopkins is drawing raves for his portrayal of the Master of Suspense in Hitchcock, and we're flashing back to our first-ever interview with the Oscar-winning Welsh actor in 1981, when he said that the rogue's gallery of characters he likes to play draws upon the inner turmoil he holds from a somewhat troubled childhood.

Pics: Alfred Hitchcock's Leading Ladies

"I suppose consciously and unconsciously I bring it all into play," said Hopkins, then 44 years old. Before playing the slightly twisted and manipulative Hitchcock and the devious Hannibal Lecter, Hopkins took on the role of none other than Adolf Hitler, and he said he based the character on his "tyrannical" grandfather.

Hopkins also referenced some of his own past demons, but explained that they were all now "in check."

"I don't have a great rage anymore; I got that in check and controlled it, I suppose," said the star. "I'm generally one of the happiest guys I know."

Video: Meet the Master of Suspense

He continued, "I don't quite know what the process of acting is. I know that I go to references in the past and references within myself and other people and I just put it all together like a meal. It's like a recipe."

With some fava beans and a nice chianti, perhaps?

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Parachute Jump getting LED light system








Coney Island’s landmark Parachute Jump is finally getting its “bling.”

The city’s Economic Development Corp. has tapped the seaside neighborhood’s biggest amusement operator to fulfill Borough President Marty Markowitz’s vision of overhauling the 262-foot-tall structure’s lackluster lighting system with more “bling” so it could become Brooklyn’s “Eiffel Tower.”

Zamperla USA – which runs Luna Park and other attractions – was selected to install 8,000 colored LED lights across the Parachute Jump that will be programmable for shows and special events with music.




“The Parachute Jump will finally have enough ‘bling’ to be visible even from outer space,” crowed Markowitz, who secured $2 million in city funding for the project.

The new lighting proposal is set to go before city’s Landmarks Preservation Commission on Dec. 11 for final blessing.

If approved, the lights are expected to be installed and running by next summer, city officials said.

“With this new lighting design, the Parachute Jump will become a beacon for the neighborhood and show that Coney Island will not only recover from Hurricane Sandy, but continue its revitalization into New York’s premier oceanfront destination,” said EDC spokesman Kyle Sklerov.

The current lighting system, created by renowned lighting artist Leni Schwendinger, was installed in 2006.

But Markowitz was so unimpressed with it – he thought it was too “artsy,” and needed “blinging up” to capture Coney Island’s flash – that he convinced the mayor and City Council in 2008 to set aside $2 million to bring a new lighting system to long-inoperable ride.

The Parachute Jump is a former ride from the 1939 World’s Fair in Queens that was relocated to Coney Island in 1941. It ceased operations in 1968 and was declared a city landmark in 1989. It is part of a revamped Steeplechase Plaza that the city is hoping to create.










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Gift ideas for the techie on your list




















The holidays are coming fast, and if you’re like me, you’ve probably gotten very little of your gift shopping done.

Here are suggestions for a variety of gifts for the techie and the not-so-techie people on your list.

Some of these items can be found in stores and some are only available online, but you should be able to order them in time for Christmas or Hanukkah.





IOMEGA EZ MEDIA & BACKUP CENTER

What is it? A hard drive that lives on your home network so you can share files, store all your photos and music and back up your home computers. Works on Macintosh, Windows and Linux computers.

The EZ Media & Backup Center is available in 1-, 2- and 3-terabyte capacities. It is simple to set up. It lives next to your home router and plugs into the network via Ethernet.

Major features include a built-in iTunes server so your music is available to all connected computers, Time Machine support for easy Macintosh backups and Iomega’s Personal Cloud to access your data from any Internet connection.

It can also stream your video files to your TV if you’ve got a compatible streaming box or an Internet-connected TV.

Software for backing up Windows PCs is also included.

Who’s it for? Any family that wants central storage for their digital lives. This is a great home for your digital photo, music or video library.

What does it cost? One terabyte for $169.99, two terabytes for $209.99, three terabytes for $279.99.

Where can you get it? Online at www.iomega.com, Amazon, Best Buy, Apple store, Fry’s.

NETATMO URBAN WEATHER STATION

What is it? A wireless indoor/outdoor weather station that displays through an application on your Apple or Android mobile device.

There are two parts, one that lives in your house and one you place outside.

The indoor component plugs into the wall and monitors the temperature, humidity, barometric pressure, carbon dioxide level and even the sound level in decibels.

The outdoor module is battery-powered and measures temperature and humidity.

Once you connect the Netatmo to your home Wi-Fi network, you can download the free app and see your weather stats from anywhere.

Setup was easy enough, and you can set the app to notify you when carbon dioxide rises to levels that you should be warned about — which is great.

Who’s it for? Weather geeks and people who like to know what the temperature is without having to fire up a browser.

What does it cost? $179

Where can you get it? www.netatmo.com

3M LED ADVANCED LIGHT

What is it? 3M’s first foray into the home light bulb market is with the LED Advanced Light, which uses light-emitting diodes (LED) to produce 800 lumens (the light of a 60-watt bulb).

The Advanced Light has a life span of 25 years and costs just $1.63 per year if it’s turned on for three hours per day.

The bulb lights instantly and is dimmable.

It’s a little intimidating to start buying light bulbs that might outlive me, but my wallet approves.

Who’s it for? Anyone who wants to save money or wants a bulb that might not have to be changed until 2035.

What does it cost? $25

Where can you get it? Select Wal-Mart stores. For more information, go to www.3mlighting.com/LED.

STEM IZON 2.0 WI-FI VIDEO MONITOR

What is it? A small, wireless video camera that you can monitor remotely with an iOS device.





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Citizens leader criticize media coverage of firm’s problems




















Beleaguered by allegations of corporate misconduct and exorbitant executive spending, leaders at Citizens Property Insurance Corp. expressed outrage — at the media.

During a special hearing on Tuesday to address several corporate improprieties first reported by the Times/Herald, Citizens CEO Barry Gilway reserved some of his harshest criticism for news outlets that uncovered the laundry list of scandals at the state-run company.

“I am committed to making sure the reputations of innocent employees are appropriately protected,” said Gilway, claiming that reporters had defamed former Citizens employees accused of wrongdoing.





Gilway used words like “preposterous,” “absurd,” “pathetic,” and “shameful,” when discussing media coverage of the company’s internal troubles.

He defended his top officials — who have been beset by a laundry list of scandalous allegations in recent months, including questionable severance packages, sexual impropriety, and falsified documents.

The board largely voiced support of Gilway — who took the helm of the state-run insurer in June — and saved criticism for the media, the former CEO and a few “bad apple” employees.

In recent months, at least two top executives at Citizens have resigned and Gov. Rick Scott has called for two separate investigations into its top management.

Gilway stood by a claim that Citizens terminated internal investigators who discovered the misconduct as part of a company restructuring effort – not as retaliation for exposing the company’s dirty laundry.

Scott’s chief inspector general is looking into the terminations.

Gilway and board members acknowledged that Citizens needed to make some changes, and said the company is beginning to take “corrective action” to address the various scandals.

“We have a new day in this company,” said board chairman Carlos Lacasa. “And we will win back the credibility of the company in the eyes of the public.”

Lacasa also lashed out at the media, referring specifically to a recent editorial in the Palm Beach Post that branded Citizens a “corruption-ridden scam artist that threatens Florida’s economic recovery.”

Such media criticism of Citizens is “shameful” and “designed to incite the public,” he said.

Homeowners covered by Citizens have expressed outrage this year over the company’s unpopular home re-inspection program, an 11-percent rate hike and news that executives were spending upwards of $600 per night for luxury hotel rooms across the globe.

Scott’s inspector general is investigating such expenditures.

“The state of Florida gave them this blanket ability to pull in money from homeowners,” said Sharon Goessel, a 65-year-old from Palmetto Bay whose Citizens insurance rates are skyrocketing. “I want to be one of those executives at Citizens and go spend the night in a $580 hotel room.”

Sean Shaw, a former insurance consumer advocate who works for a law firm that represents insurance policyholders, blasted the board at Citizens and called for the resignation of top executives.

“Instead of spending time talking about fixing abuses of the public trust, the board seems more interested in blaming the media for finding out about it,” he said.

Some board members attacked Shaw, whose employer regularly battles Citizens in court, as someone who “has a direct financial stake” in seeing the company tarnished.

The board had less criticism for former employees and executives whose actions sullied Citizens’ reputation, including the underwriting executive who resigned after a sex scandal blew up and the Chief Administration Officer who resigned after several allegations of misconduct occurred within her unit.

Both received lucrative agreements worth tens of thousands of dollars after resigning, and Citizens helped the underwriting executive apply for unemployment compensation.

Gilway stopped short of criticizing the hefty severance agreements, but said a new policy will be drafted to clean up the process.

Citizens’ board also spent much of Tuesday’s meeting discussing the company’s preliminary budget for next year.

The company expects to shrink from about 1.5 million policies to 1.2 million policies by the end of 2013, advancing Gov. Rick Scott’s push to downsize the state-backed insurer.

“Unlike the private sector, that’s a good thing if we’re shrinking,” said Chief Financial Officer Sharon Binnun.

Toluse Olorunnipa can be reached at tolorunnipa@MiamiHerald.com or on Twitter at @ToluseO.





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Nintendo Unveils Wii Mini for the Canucks












Nintendo‘s pushing the new $ 299 Wii U console hard (and has already sold 400K units in the process), but in at least one region, the gaming company has a new back-up plan: The $ 99 Nintendo Wii Mini.


[More from Mashable: Wii U Sells 400,000 Units in First Week]












The new smaller, black box with red trim is a simpler game console. It offers no Internet access and cannot play older GameCube console games. What it does do is play virtually all Wii games (Nintendo says there are around 1,300 of them). The other major caveat is that the console is only available in Canada. According to a Nintendo press release on the new system, “Wii Mini is available exclusively in Canada during the holiday season. No information is available about its potential availability in other territories in the future.”


Nintendo also left out some details on the console itself. We do not know the exact size or weight of the box, though judging from the above image, it’s not much wider than a Wii Remote.


[More from Mashable: Meet the Super Fan Who Waited in Line for a Month for a Wii U [VIDEO]]


As Nintendo describes it, the Wii Mini is “all about games,” and without the Internet, it has to be. No Web browsing, cavorting with other Mii’s or multi-player gaming. It’s also worth noting that while the Wii Mini ships with a single Wii Remote Plus and Nunchuk (both red), a brand new Black Wii with Wii Sports and Wii Sports Resort (including Remote and Nunchuk) is currently $ 119 at Best Buy.


What do you think of the Wii Mini? Would you game without the Internet? Is this the perfect gift for young, Canadian children? Let us know in the comments.


GamePad


The Wii U GamePad has a 6.2-inch touchscreen.


Click here to view this gallery.


This story originally published on Mashable here.


Gaming News Headlines – Yahoo! News


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Angus T Jones Breaks Silence on Two and a Half Men Controversy

In a self-written statement obtained by ET, Two and a Half Men star Angus T. Jones breaks his silence on controversial remarks made by the actor about the series in a video testimonial for Forerunner Christian Church.

Related: 'Two and a Half Men' Star Ashton Kutcher is Forbes' Highest-Paid Actor on TV

In the note, Jones apologizes for harm he might have caused to his colleagues for labeling the popular CBS show as "filth" and in urging viewers not to watch. He writes:

I have been the subject of much discussion, speculation and commentary over the past 24 hours. While I cannot address everything that has been said or right every misstatement or misunderstanding, there is one thing I want to make clear.

Without qualification, I am grateful to and have the highest regard and respect for all of the wonderful people on 'Two and Half Men' with whom I have worked and over the past ten years who have become an extension of my family.

Chuck Lorre, Peter Roth and many others at Warner Bros. and CBS are responsible for what has been one of the most significant experiences in my life to date. I thank them for the opportunity they have given and continue to give me and the help and guidance I have and expect to continue to receive from them.

I also want all of the crew and cast on our show to know how much I personally care for them and appreciate their support, guidance and love over the years. I grew up around them and know that the time they spent with me was in many instances more than with their own families. I learned life lessons from so many of them and will never forget how much positive impact they have had on my life.

I apologize if my remarks reflect me showing indifference to and disrespect of my colleagues and a lack of appreciation of the extraordinary opportunity of which I have been blessed. I never intended that.

The video in question shows Jones opening up about his conversations with God and how his new-found religious beliefs led him to stop doing drugs and leading a selfish life.

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Jeff Zucker set to join CNN as head of global news operations








Former NBC Universal CEO Jeff Zucker is set to sign on as the new boss of CNN’s global news operations, The Post has learned.

Zucker, 47, has been the lead candidate for one of the most important roles inside Time Warner since boss Jeff Bewkes began looking for a new leader to reinvent the flagging flagship news network.

While some minor details still have to be worked out and may still scuttle the deal, sources warned, it appeared that an announcement concerning the hiring of Zucker could be forthcoming in a matter of days.

“It’s been Jeff all along,” one source said late yesterday. “It was not a good fit at NBCUniversal, and he made some enemies, but this is a chance for him to refresh. It’s really good for him.”




Zucker is currently executive producer of the daytime show, “Katie,” featuring Katie Couric, the telegenic former co-host of “Today,” which Zucker oversaw for nearly two decades.

Zucker’s “Katie” obligation runs only to the end of the year, sources said, though any new gig, such as the CNN job, could be complicated by his part ownership in the syndicated show, which is distributed by Disney.

Zucker would replace current CNN boss, Jim Walton, who is leaving at the end of the year.

Also considered for the role were former ABC News boss David Westin, and former NBC News chief Neal Shapiro. Current NBC News boss Steve Capus is said to have been a front-runner, as well.

Zucker began his career as one of the youngest news producers in the business. He ran “Today” back in 1992 and went on to have a wider role at NBC News before ultimately winning control of the entertainment division and later becoming CEO of NBCUniversal.

But after more than a decade of success, Zucker’s career at NBCUniversal ended harshly and his reputation as having a talent for picking hit shows, was sullied.

A return to TV as head of CNN would present Zucker with a chance to write a comeback story — and ding NBC at the same time.

The executive exited when Comcast acquired 49 percent of the company almost two years ago.

CNN is a huge profit center for Time Warner around the globe — and is poised to have its most profitable year ever — but its poor performance in prime time in the US market has made it a cause for frequent embarrassment.

Both Fox News and MSNBC have taken share over the years, though CNN has steadfastly stuck to its middle-of-the-road take on all things political.

The Post, like Fox, is owned by News Corp.

CNN’s ad-revenue growth over the last two years is roughly 12 percent — the smallest increase of any of its rivals, including younger sibling Headline News, which saw ad revenue grow 20 percent in the period.

CNN is part of Time Warner’s Turner Broadcasting division, which is run by Phil Kent. Several sources suggest Kent has been under huge pressure to find the right candidate. Kent had been concerned that Zucker might ultimately have his eye on the much bigger role overseeing all of Time Warner’s ad-supported cable channels.

A spokesman for Time Warner couldn’t immediately be reached after hours. Zucker did not respond for comment.

The Post first reported Zucker as a contender for the position in June 2012.

The ratings for Q3 2012:

•Primetime (Mon-Sun): 616,000 Total Viewers / 188,000 A25-54

•Total Day (Mon-Sun): 388,000 Total Viewers / 118,000 A25-54

In Total Day, the network is down 18 percent in Total Viewers and down 25 percent in the 25-to-54-year-old demographic.

In primetime, CNN is down 9 percent in total viewers and down 14 percent in the same demographic.

catkinson@nypost.com










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Shareholders approve sale of U.S. Century Bank




















A majority of U.S. Century Bank’s shareholders approved the Doral bank’s proposed sale to C1 Bank of St. Petersburg late Tuesday during a meeting at Florida International University despite dissension from some stockholders, including those who have filed suit against the bank and some of its directors and officers.

According to the terms of the deal, the bank’s 441 shareholders will receive $2.5 million from the sale, or about 1.7 cents on the dollar, from $150.1 million U.S. Century raised from multiple offerings since it was founded 10 years ago.

The sale agreement, which required approval from holders of 51 percent of the shares, still requires approval from federal banking regulators. Seventy-four shareholders attended Tuesday evening’s meeting.





The deal to sell U.S. Century to C1, reached Aug. 30, includes a proposed, renegotiated $6.27 million repayment to the federal government of $50.2 million in TARP funds. The U.S. Treasury Department must approve the proposed TARP (Troubled Asset Relief Program) repayment. According to documents, the deal also includes up to $400,000 to be paid by C1 to regulators should U.S. Century be fined over Bank Secrecy Act violations found in its recent regulatory examination.

The bank has said the sale is expected to be completed by year-end.

A group of shareholders has filed a “derivative action” suit, which seeks to recover money from the bank that allegedly resulted from the wrongdoing of the bank’s directors and officers.

The suit was filed Nov. 13 in Miami-Dade Circuit Court by brothers Carlos R. Silva and Jorge E. Silva, both Coral Gables attorneys and founding shareholders, and last week was amended to include several additional shareholders — including Shoma Group head Masoud Shojaee — totaling more than $10 million in original investments, said Coral Gables attorney Gonzalo Dorta who represents the shareholders who filed the suit against the bank and some of its current and former officers and directors. Among the defendants are Telemundo executive Jose Cancela, homebuilder Sergio Pino — who formerly owned U.S. Century’s headquarters building, and public affairs businessman and lobbyist Rodney Barreto.

“I feel terrible,” Carlos Silva said after the meeting. He estimated the losses that he and his brother sustained at $400,000. “We all lost a lot of money.”

“This bank was basically run by a group of individuals like it was their personal bank to finance their speculative real estate construction activity at the expense of others,” Dorta said before Tuesday’s meeting.

U.S. Century said in a statement that the bank is in the process of reviewing the suit and is “not at liberty to discuss it further until we have completed the review process and consulted with our legal counsel.”

U.S. Century was founded by a group of prominent, largely Cuban-American investors, many of whom are local business leaders, real estate developers and attorneys.

Among the issues raised in the lawsuit, the bank acknowledges that it has made loans to current and former directors, and a third of its 24 branches are leased from current or former directors.

Current and former directors of the bank hold a significant portion of the bank’s shares, several sources said.

U.S. Century has been struggling since the real estate downturn and recession. Founded in 2002, U.S. Century is operating under a June 2011 regulatory consent order mandating it to boost capital, reduce its bad loans and return to profitability, among other requirements. Last year, it hired Japanese investment bank Nomura Securities to try to raise at least $150 million in private equity funds.

C1, privately owned by four investors, including two Brazilians, is proposing to inject $100 million of fresh capital into the combined bank.

The deal would give the growing C1 Bank 24 branches in Miami-Dade and Broward counties and nearly $1.2 billion in assets.





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