Saturday, November 29, 2008

Business Leaves Nonprofit In Lurch

The Balls did not return a message left at their Tampa home.

Bishop has since left Florida for North Carolina, where he is attending business classes at the University of North Carolina's campus in Chapel Hill, his former colleagues said.

Ed Turanchik, who worked with Bishop on the Civitas project, said he doesn't know what happened to Renaissance, but he suspects that increases in steel prices, coupled with the real estate market downturn, had something to do with it.

"It's a tough market right now," he said. "And when a business fails, people lose money."

Renaissance's assets were supposed to be bought out by Innovative Steel Technologies in a deal for about $2 million, including Renaissance's manufacturing site in Ybor City. Innovative Steel CEO Doug Biddle said he had planned to employ 30 at the plant, and later planned to expand the jobs to about 70 for manufacturing and 50 for field work.

No comments: