MONDAY, DEC. 1, 2008
TALLAHASSEE:
Growth Won't Pay the Bills in Florida
For years, governors and legislators relied on population growth to create jobs, avoid raising taxes and shield the state from recession. They saw Florida's population swell annually by 2 to 3%, enough to add a city the size of Miami or Tampa each year. By marketing itself as a low-tax, low-cost retirement haven, Florida literally bet its future on growth. The math: In the next four years, the state will collect $31.4-billion less in taxes than expected. Watch for tax increases. [Source: Times/Herald]
SOUTH FLORIDA:
Knight Foundation Funds 31 Arts Projects
The mandate was straightforward: Come up with a big idea for an arts project that can unite South Florida's diverse communities under an umbrella of culture.
When the Miami-based John S. and James L. Knight Foundation made that announcement in February -- backing it up with $20 million in grants, and opening the competition to any individual or group -- it was flooded with more than 1,600 proposals.
From that group, the Knight Foundation announced Monday 31 winning ideas that it will fund with $8 million. More calls for ideas will be issued in 2009 and subsequent years. [Source: Miami Herald]
» Also: Satellite industries support Art Basel
CORAL GABLES:
BankUnited Raising Capital to Remain Viable
Federal regulators are forcing BankUnited to raise $400 million. Read on ... [Source: Florida Trend]
More on this topic from Florida Trend:
- Editor Mark Howard: Floridians are upside-down in mortgages, and everything else
BOCA RATON:
Even Luxury Real Estate Projects Falling into Foreclosure
Earlier this month, Regions Bank filed a foreclosure lawsuit against Polo Field Estates LLC, developer of the luxury Azura community in suburban Boca Raton. The project, by Gordon Homes of Boca Raton, consists of tract mansions ranging in price from $1.3 million to more than $3 million, each.
[Source: Palm Beach Post]
» Also: Lee County speeds up foreclosure cases; 25,000 backlogged
ALSO AROUND FLORIDA:
› Biomass Firm May Take Plant Elsewhere
A company that is proposing to build a controversial biomass gas electric plant for Tallahassee-Leon County is now leaning toward taking the project elsewhere, a public-relations consultant for Biomass Gas & Electric said.
› Bailout Leaves Weapons Programs Up in the Air
The Pentagon recently put a hold on some of the millions being spent on Lockheed Martin's F-22, a project tied to hundreds of jobs in Central Florida. It approved less than half of the cash that was supposed to keep the F-22 work alive in 2009.
› Climate Change Increases Problems for Florida Reefs
Despite new federal protections, Elkhorn Coral may disappear from the waters off the coast of South Florida. Also: Inaccuracies taint Florida environmental consultant's record
› Florida Storms Force Shuttle to California
Endeavour wrapped up a 16-day trip that left the international space station freshly remodeled and capable of housing bigger crews.
› Fla. Battle Over Auto Emissions to Continue
The new state rule to curb emissions will be up before the state's Environmental Regulation Commission on Tuesday.
› Early Data Shows Strong Black Friday
Sales during the day after Thanksgiving rose 3% from last year to $10.6 billion, according to preliminary figures released Saturday.
› Jeb Tells GOP Not to Become 'Democrat-Lite'
The former governor urged GOP faithful to form a "shadow government" to challenge the ideas emerging from the Obama administration.
Go to page 2 for more stories ...
› In Orlando, School's Out for Tourism
Two years ago, Florida's tourism industry scored one of its most significant political victories in recent memory: A new law ensuring that children don't go back to school too soon every summer.
Now, tourism operators across the country are helping spearhead campaigns for similar laws in other states.
› Sarasota Family's Product Gaining Attention
For the past three years now the family has taken to the road to sell Ozzie Chu’s invention, an all-natural sports drink made from the water in young coconuts and a mix of citrus juices.
› MIA Train Hits Building; Riders Injured
Several passengers were injured when an automatic terminal-to-terminal train crashed at Miami International Airport on Friday.
› Nursery Owner's Lawsuit Claims the Palm Beach's Zoning Demands Went Too Far
More than a year after a Palm Beach County code enforcement officer first declared his decades-old nursery operation illegal, Richard Wilson has spent $100,000 on consultants, attorneys and engineers in an effort to comply with what he says is a never-ending series of demands by the county.
› Floridians Scramble to Witness Inauguration
Florida Congressman Allen Boyd's office has already received 3,000 requests for the 198 tickets he will receive, while Florida Senator Mel Martinez has received 50,000 queries for his 393 tickets.
› Hurricane Season Officially Over
Tropical Storm Fay thoroughly drenched the entire state, caused 15 deaths and made a record four Florida landfalls.
› Builders Name Leader for Tough Times
The Gulf Coast Builders Exchange has turned to Mary Dougherty-Slapp, a formidable fundraiser and lobbyist, to guide the group through the housing downturn while increasing its membership and working to scale back slow-growth initiatives.
› USF Officials Caught in Anti-Government Uprising in Thailand
University of South Florida president Judy Genshaft found herself in the midst of antigovernment unrest after attending a medical conference in Bangkok, Thailand.
Demonstrators who want to oust the prime minister have forced the closing of two airports.
› In Gambling Fight, Florida Outplayed
Should lawmakers not approve a new compact, Florida could find that the federal government will intervene and decide what the Seminoles can offer without giving the state any compensation or authority to regulate.
› Protesters at Crist's Wedding?
GaySoFla.com reports a gay rights group called Impact Florida is planning to protest the Dec. 12 wedding of Charlie Crist and Carole Rome.
› Vindication Comes at a High Cost for Jabil
To St. Petersburg electronics manufacturer Jabil Circuit Inc., it's been the equivalent of the Spanish Inquisition. For two years and eight months, Jabil has been under suspicion of backdating stock options for its executives to maximize their personal financial gains. Now it's finally over, it appears.
› A Case Study in Housing Collapse
This house sold for $300,000 in 2006 with the help of a no-money-down mortgage from a subsidiary of Washington Mutual Bank. The owner defaulted; WaMu owns it now. Listed for $52,000, the house could be yours for $35,000 cash.