A combination of legal wrangles and financial difficulties led to Palm Coast Data’s eviction from its Commerce Boulevard location and layoffs of 40 percent of its workforce as it outsources core services. The company pledges to remain in Palm Coast.
palm coast data
Palm Coast Data Battles Eviction Lawsuit and Calls “Fraud” on Landlord and Former Owners, Casting Pall on 600 Jobs
Both the lawsuit and Palm Coast Data’s answers combine to paint a grim picture for one of Palm Coast’s largest employers, months after losing a major account and now facing yet another major blow from the coming economic consequences of the public health emergency.
Irish Company Studio Media Buys Palm Coast Data and Signals 10-Year Local Commitment
Studio Media Group, an Irish company, today acquired Palm Coast Data from Pennsylvania-based Amrep Corp., the third time in 17 years that one of Palm Coast’s largest private employers is changing hands.
Palm Coast Data Adds New York Magazine and National Wildlife Amid Stable Revenue
Palm Coast Data’s revenue has been solid, with continued addition of clients, and its parent company has been reporting modest but consistent profits, in contrast with earlier years.
Bomb Threat Briefly Interrupts Evening Shift at Palm Coast Data
A bomb scare briefly interrupted the evening shift Monday Palm Coast Data as employees from the building that contains the company’s call center were evacuated.
At Palm Coast Data, A Surprise Bonus to Employees Highlights Reset of Invigorated Company
In the most intimate and detailed look at Palm Coast Data from the inside in 10 years, the company is less than half its former size but producing solid revenue, projecting optimism, and hiring.
Gov. Scott’s Boasts of “Recovering” $1.2 Million From Palm Coast Data Aside, New Documents Detail Extent of Deal’s Failures
Documents obtained by FlaglerLive and disclosed for the first time show the extent of Palm Coast Data’s difficulties and some of Palm Coast government’s own deception along the way.
Palm Coast Data Settles Breach of Contract Lawsuit, Will Pay State $1.76 Million
Palm Coast Data had won $3 million in state incentives in 2008, when it also got $500,000 from Palm Coast and Flagler County, on promises of 700 new jobs that never materialized.
Palm Coast Data Parent Posts $10.4 Million Loss, Biggest Since 2009 as Revenue Drops
The losses bode poorly for Palm Coast Data, which at one point a decade ago was the city’s largest private employer. Its parent company’s revenue is now almost synonymous with its own, and it’s a fifth of what it was 10 years ago.
In Brief: Broker Sheehan Jones Brokers a $450,000 Transaction, Palm Coast Data Lands New Account
Parkside Realty Group’s Margaret Sheehan Jones brokered a $450,000 transaction for Bunnell’s D & K Automotive and Tire Repair and Palm Coast Data added Fort Worth, Texas Magazine to its fulfillment stable.
Nutrition Supplement Firm Will Expand Into Ex-Palm Coast Data Building, With 50 Jobs
Designs for Health, a nutritional supplement and vitamins company, will get a $25,000 county subsidy to expand from Hargrove Grade to Commerce Boulevard in exchange for 50 jobs and a $3 million investment in the old Palm Coast Data building complex.
Palm Coast Data Evacuated as Suspicious White Powder Discovery Calls For Hazmat Team
The white powder was discovered just after 11 a.m., and Palm Coast Data issued an evacuation order at 1:39 p.m. The response from St. Johns County’s Hazmat team is ongoing.
Palm Coast Data Wins Back Saturday Evening Post Account But Loses All American Crafts
Winning back the Saturday Evening Post account’s three magazines helps offset yet another loss for Palm Coast Data as All American Crafts, which published 11 niche magazines, stopped all publishing in August and declared bankruptcy, with $7.5 million in debts.
1st Quarter Revenue at Palm Coast Data Falls 13%, But CEO Paints Brighter Picture Ahead
Revenues from the company’s Media Services businesses, which include Palm Coast Data’s Subscription Fulfillment Services, fell from $20.3 million for the first quarter of 2014 to $17.5 million in the 1st quarter of fiscal year 2015. CEO Rory Burke said the company is “not teetering on the brink of disaster.”
Palm Coast Data Lost 70% of Clients in 6 Years; Parent Company Posts $2.9 Million Loss for ’14
Palm Coast Data now performs subscription fulfillment services for 405 magazine titles representing 90 clients, down from 1,050 magazines and 300 clients when it inked a deal with Palm Coast government in 2008 to stay in the city and pledge to increase the workforce by 700. That increase never took place.
Staving Off a Major Blow, Palm Coast Data Settles With German Publisher, Extending Relationship
Heinrich Bauer LLC, one Palm Coast Data’s major clients, released some claims on the company in exchange for more than 10 percent of the company’s stock and a pledge to stay with Palm Coast Data through 2018. The alternative would have represented a significant blow to Palm Coast Data, which has already been weakened by successive losses over the years.
Palm Coast Data Parent Warns Grimly: Don’t Expect “Profitability in Near Term Or at All”
In the most sobering annual report to investors to date, Palm Coast Data parent Amrep Corp. raises numerous questions about the long-term viability of its operations as debt, recurring losses and competition burden its prospects–and those of what was once Palm Coast’s largest private employer.
Another Major Blow to Palm Coast Data as Newsweek, a Major Account, Ends Print
Newsweek, with 1.5 million subscribers, is one of Palm Coast Data’s largest accounts. The company landed it less than two years ago, helping it stanch the loss of other titles. Newsweek will end its print publication in December, a move that will again hurt Palm Coast Data’s bottom line.
Palm Coast Data’s Latest Revenue Down 18.6% Over the Year But Ticks Up in 2012
Palm Coast Data revenue fell to $13.6 million in the quarter ending July 31, compared to $16.5 million a year ago, and $32 million in 2008. Parent-company Amrep Corp. posted its 12th loss of the last 16 quarters.
Palm Coast Data Revenue Down Another 20% in Latest Quarter as Parent Company Posts Loss
Palm Coast Data’s entire revenue for 2012 was less than half its revenue for just two quarters barely four years ago, when it signed a job-incentive deal with Palm Coast government and the state of Florida. The promised jobs have not materialized.
Palm Coast Data Revenue Now Half Its 2008 Level, When It Signed Job-Creation Deals
Palm Coast Data’s revenue was down to $15.6 million in the last quarter, less than half the $32.2 million it recorded in the quarter preceding its agreement to consolidate in Palm Coast. The company won’t say how many jobs are on its Palm Coast payroll.
Mike Taschler, Palm Coast Data VP and COO, Is Out as Revenue Continues to Fall
Taschler’s departure follows less than three months after the resignation of Palm Coast Data CEO John Meneough, and three weeks after the company posted another steep revenue decline.
Palm Coast Data Lays Off 18 More, This Time in Magazine Customer Service
The Palm Coast Data layoffs are the latest in a string of job losses that have struck the company’s warehouse, membership services, IT and management.
Palm Coast Data CEO John Meneough Resigns After 15 Years As Company Struggles
John Meneough, 62, had been with Palm Coast Data in its various incarnations since 1996. A successor has not been named. Meneough’s resignation is part of broader changes at Palm Coast Data parent Amrep Corp.
Palm Coast Data Revenue Drops 20% in 2011; Parent Company Posts $7.6 Million Loss
Revenue at Palm Coast’s largest private-sector employer declined to $73.6 million, from $92 million the previous year. The company’s revenue has dropped 40 percent in four years.
Palm Coast Data Lays Off Dozens and Loses Large NRA Membership Services Account
The NRA account represented 5 million members and a lucrative source of income. The loss compounds other losses in magazine titles that are either closing or migrating to other fulfillment companies.
Cancel This Subscription: Palm Coast Data Revenue Plummets Another 21% in 3Q
Palm Coast Data revenue fell $15.7 million in the last nine months, compared with the same period a year earlier as trouble for the company and its parent, Amrep, continue.
Palm Coast Data Lays Off 31 More As Another Major Customer Plans to End Its Contract
A principal shareholder of Palm Coast Data parent Amrep Corp. and customer of Palm Coast Data is ending its association with both. The company is nowhere near its 2008 pledge to hire 700 more employees locally.
Palm Coast Data Parent’s Headaches: Diving Revenue and $22.5 Million Loan Due
At Palm Coast Data, revenue declined $10.9 million in the six months ending Oct. 31, a 22 percent decline from the same period last year. Palm Coast Data parent AMREP Corp.’s Southwest subsidiary owes a $22.5 million loan to be repaid on Dec. 16.
Palm Coast Data’s Invitation-Only Picnic: Hot Dogs, Flattery and Suspended Disbelief
Half Palm Coast and the county’s elected officials and top administrators were invited to Palm Coast Data’s picnic. The public wasn’t. That’s not the main problem.
Palm Coast Data Parent Revenue Drops 21% in 2010, Accelerating to 24% in Last 3 Months
Palm Coast Data, largest of its parent companies’ operations, lost close to $24 million in revenue this year.
Lay-Offs at Palm Coast Data; Parent Co. Posts Loss and Signs $20 Million Line of Credit
Palm Coast Data’s parent company, Amrep Corp., posted a $2.76 million loss for the first nine fiscal months of 2010.