How Florida and Texas became the Wall Street of the South
Wall Street banks, hedge funds, and other financial institutions looking to expand their operations are increasingly turning to the business-friendly Sun Belt. These financial firms, like other businesses that have moved into the region, are being drawn in by a number of factors, including lower costs of living and doing business, opportunities for expansion, and less government red tape. [Source: Quartz]
Texas-based Independent Bank to be bought for $2 billion by Florida’s SouthState
SouthState Corp will buy Texas-based smaller rival Independent Bank Group for about $2 billion, the companies said on Monday, creating a combined entity with $65 billion in total assets. The all-stock deal will help SouthState enter Texas and Colorado, the two states where it does not have a footprint. The move underscores the growing consolidation in the U.S. regional banking industry, which has been under pressure since last year after the collapse of three mid-sized lenders. More from Reuters and MarketWatch.
Why stores and restaurants tout Florida avocados
Consumers, retailers and many foodservice operators eagerly await the arrival of Florida green-skin avocados every year, grower-shippers say. Florida-based chains like to promote the grown-in-Florida aspect of the product. “It’s a feature that is increasingly featured in promotions across North America,” said Peter Leifermann, vice president of sales and marketing for Homestead-based Brooks Tropicals. [Source: The Packer]
Some of Florida’s biggest school districts continue to seek solutions for schools that sit well below their capacity.
Some of Florida’s biggest school districts continue to seek solutions for schools that sit well below their capacity. Hillsborough County is perhaps the farthest along in efforts to consolidate students and wind down the use of under-capacity campuses. Meanwhile, other districts remain in the throes of their decision making process. [Source: Tampa Bay Times]
Scientists are trying to figure out why so many just-born manatees die
One in four manatees found dead in Florida this year died within one year of birth, state data shows, making it the leading known category of death for sea cows so far in 2024. The 66 so-called "perinatal" deaths also are almost double last year's and the five-year average of 35 manatee deaths within a year of birth, as well as this year's 34 deaths by collisions with boats. [Source: Florida Today]
ALSO AROUND FLORIDA:
› Bartow makes a pitch to Polk County Commission for long-sought equestrian center
A vision for a Polk County equestrian-themed public facility in Bartow was discussed at the County Commission agenda review on Friday, and if enough community support comes through, a covered arena with seating would be phase one. Bartow City Manager Mike Herr introduced a presentation containing a proposed 30-year vision for a possible county-run facility on land between the Stewart Center and the Peace River.
› South Florida leaders hold roundtable to discuss upcoming hurricane season
As hurricane season quickly approaches, emergency officials are working to get South Florida residents and visitors prepared. Kevin Guthrie, the Executive Director of the Florida Division of Emergency Management, held a roundtable discussion with local emergency management officials at the Miami-Dade Fire Rescue Training Facility on Monday to address the upcoming hurricane season.
› CEO ousted as investigation prompts leadership shakeup at Jabil
Kenneth Wilson has been permanently removed as CEO of St. Petersburg technology company Jabil after an internal investigation. Wilson is being replaced by Michael Dastoor, who has been the interim CEO since mid-April, when the company announced it was looking into a matter “related to corporate policies.”
› In Orlando, $350K moved 250 people off the streets
For four years, Vanessa Artis and her two adult children slept on the sidewalks of Parramore, hoping for a bed of their own. Finally last year their fortunes began to change with the help of the Christian Service Center and a rush of federal funding that has made a surprisingly large dent in the neighborhood’s ongoing homelessness crisis.
Go to page 2 for more stories ...
› A Pinellas town is clarifying its beach rules. Some residents are confused.
An ordinance banning tents on private beaches in Redington Beach was passed in 2018, but recent enforcement has taken residents by surprise. Town leaders say they are revising the rule to make it easier for law enforcement to uphold. The original ordinance prohibits tent use “for members of the public on the dry sand areas of the beach that are owned by private entities.” The new language bans tents across all public and private beaches except for two owned by the town that are used as event spaces.
› This Central Florida city has the most hotel-to-apartment conversions planned in US
With plans in the works for the transformation of eight hotels into 1,888 apartments, Kissimmee isn't just leading the way for the conversion type in the region or the state, but across the U.S. Overall, there was a 17% increase in completed conversions to apartments from 2022 to 2023. That trend only figures to continue.
› FSU alumnus invests $1 million to launch endowment for first-generation students in College of Business
Tony DiBenedetto, a Tampa-based technology executive, entrepreneur, philanthropist and graduate of the Florida State University College of Business, has gifted $1 million to provide support and career development for first-generation students in the college – continuing years of generosity to the university.
› Florida State appeals ACC lawsuit to North Carolina Supreme Court
Florida State has formally asked the North Carolina Supreme Court to review its initial legal loss to the Atlantic Coast Conference. In a petition filed late Friday, the school argued that the North Carolina Business Court incorrectly ruled in favor of the ACC last month. The Seminoles’ filing focuses on three points.