Daily Record Financial News &
Monday, March 12, 2018
Vol. 105, No. 081 • One Section
Financial impact of overdoses soars
No REIT conversion for FRP Holdings Lower corporate rate in new tax law mitigates reasons for change. Like many other companies that already had reported fourthquarter results, FRP Holdings Inc. last week said the new federal tax law had a big impact on its earnings. However, unlike the other companies that recorded onetime benefits or costs, the new law will have a long-term impact on FRP. With the sharp drop in the corporate federal income tax rate, the Jacksonville-based real estate developer decided not to convert to a real estate investment trust, Basch
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In 2017, the Jacksonville Fire and Rescue Department transported 3,505 overdose patients, a 59 percent increase from 2015. The cost of transporting a patient was $1,028 in 2017. JFRD’s cost $3,603,140 of transporting overdose patients $3,143,376 is up 90 percent since 2015
2015
New York-based law firm Scott+Scott retained as co-counsel in an effort to recover damages. The City of Jacksonville has joined the national effort to hold drug manufacturers accountable, and financially liable, for the explosion of opioid abuse and overdoses. In a 144-page complaint filed Feb. 27 in the 4th Judicial Circuit Court, the city names as defendants 16 drug manufacturers, four pharmaceutical distribution and sales companies, and as individuals, five former executives of the companies. The city has engaged as outside specialized counsel the services of
2016
2017
$95,732
JFRD spending on Naloxone, the drug used to treat opioid overdoses in 2017. That’s more than 7 percent of the JFRD’s medical supply budget
www.jaxdailyrecord.com
OPIOID CRISIS: CITY SUING DRUGMAKERS By Max Marbut Associate Editor
$1,895,388
35¢
Scott+Scott Attorneys at Law LLP, a New York City-based law firm that is representing numerous municipalities nationwide in similar actions, as cocounsel. Scott+Scott will receive 15 percent of the net recovery if the case is settled before trial; 20 percent if the case proceeds through trial and appeal. The costs and expenses of litigation will be deducted prior to the calculation of the fee. The city will not be responsible for payment of any attorneys’ fees, expenses or costs of litigation associlawsuit continued on
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911 overdose responses In 2017, the Jacksonville Fire and Rescue Department responded to 3,686 overdoses, a 54 percent increase from 2015. This map shows where the JFRD responded to an overdose. The 32210 ZIP code on the Westside had the most responses, 12 percent of the total.
149% Downtown Hyatt adding 3 restaurants
The increase in the cost of a dose of Naloxone since 2013. The drug cost $14.50 in 2013 and is now $36.15. Source: Jacksonville Fire and Rescue Department, Overdoses 2017 Responses and Trend report
SHOR Seafood Grill, the Tavern and The Market might be open by July. While plans and names are tentative, the three new restaurant concepts coming to the Hyatt Regency Jacksonville Riverfront could open by late summer. The three are the SHOR Seafood Grill, the Tavern and The Market, although those names are subject to change. Hotel General Manager Luis Aloma said last week that, pending construction and materials, The Market could open toward the end of May; the SHOR Seafood Grill by the end of June; and the Tavern by the end of July. Mathis
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The Marbut Report: Woman Lawyer of the Year
Judge Michelle Kalil is honored by Jacksonville Women Lawyers Association. Public
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