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THURSDAY, JULY 17, 2008
7 YEARS AGO ...
March 2001
In 2001, the $8 billion Everglades restoration deal was signed. But work was halted this year on a 16,700-acre reservoir, while contactors are still being paid.
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STATEWIDE:
State Farm Wants 47%, or Higher, Home Insurance Rate Hike
State Farm, Florida's second-biggest property insurer, said Wednesday that it will need to raise homeowner rates by almost 70% in some parts of Palm Beach County, almost 63% in parts of the Treasure Coast, a possible 91% increase in Pinellas and an overall average of 47.1% statewide.
If it doesn't get the increase, the company said, it may have to drop more policies. "I can't imagine this would be approved,'' said Sen. Jeff Atwater, R-North Palm Beach, who is scheduled to become president of the Florida Senate next year if he wins reelection. "This is an outrageous assault. They are dropping a bomb on the citizens of Florida.'' [Source: Palm Beach Post]
TALLAHASSEE:
Florida Job Losses Fuel Gloomy Forecast
The most dire fact of all: Florida lost more jobs in the past 12 months -- 74,700 -- than any other state in the nation. And the economists predict that more people in construction, government, manufacturing, financial services, transportation and warehousing will be out of work soon.
''We were No. 1 in jobs created in the entire country,'' said Clyde Diao, one of Gov. Charlie Crist's economists, referring to the booming economy in 2005. "Now, if you count the District of Columbia, we're 51.'' Were it not for employment gains in the health, education and the low-paying services fields, they said, the job-loss numbers would be far higher. Also: Inflation is at its highest rate since 1991.
[Source: Miami Herald]
More on this topic from Florida Trend:
WEST PALM BEACH:
Florida Tourism Officials Target British Kids
Visit Florida, the state's official tourism marketing agency, said this morning that it has partnered with First News, the widest-read children's publication in Britain, to promote the state to the next generation of British families.
During the next year, First News will publish special sections on Florida's ecology, space programs, wildlife, history, sports and entertainment. First News is distributed in classrooms across the United Kingdom.
[Source: Palm Beach Post]
ST. LUCIE WEST:
Failure of Tesoro Auction Lesson in Market Realities
A recent multi-million dollar auction at Tesoro in St. Lucie West proved homes across Florida won't sell until homeowners face reality: They won't get top dollar for their homes.
The reserve auction, which allows sellers to accept or decline the highest bid, was a bust.The bids were below the sellers' desired range.
"Until sellers readjust their asking price, there will continue to be an overhang of properties in Florida," said Jose Boza, spokesman for J.P. King Auction Co., which hosted the auction and promoted it in a national campaign.
Reserve auctions aren't working in today's market and they're wasting the sellers' money, said Daniel Decaro, president and broker of Daniel Decaro Real Estate Auctions Inc.
"Sellers are in denial when it comes to the market," he said.
Buyers aren't interested unless they think they are getting a good deal, Decaro said, which is why absolute auctions do well. [Source: TC Palm]
More on this topic from Florida Trend:
ALSO AROUND FLORIDA:
›FSU to Be Home of Aerospace Center [Tallahassee Democrat]
Florida State University has been given the job of coordinating efforts to turn university research in aerospace and aviation into commercial enterprise. FSU will be home to the new Florida Center for Advanced Aero-Propulsion, a collaboration of researchers in aerospace and aviation that will work with Embry-Riddle Aeronautical University, the University of Central Florida and the University of Florida to create viable companies.
›Boy Band Promoter Ordered to Repay Victims $300M [AP]
But it will be difficult, if not impossible, for Lou Pearlman to repay all the money while he is behind bars.
›FHP to Bikers: Be More Colorful [St. Petersburg Times]
One flier, titled "Green Eyed Monster,'' featured a man wearing shades, a black leather jacket and, stunningly, neon green chaps. Bikers are shaking their heads in disgust. Also: Training now required to operate motorcycle
›Cuba Paid Debts With Forced Labor, Lawsuit Says [Miami Herald]
Their labor fixing up American cruise ships at a Curacao dry dock was valued at $6.90 an hour. But the 108 Cuban shipyard hands who worked double shifts in a venture between the Cuban government and the Curacao Dry Dock Company did not get to spend their wages. Their earnings were applied to the Cuban government's debt.
›Growers Want FDA to Clear Fla.'s Whole Tomato Crop [AP]
The agency has recently expanded its salmonella investigation to fresh cilantro, jalapenos and Serrano peppers.
›Hedge Funds Claim 4 Seats on CSX Board [Florida Times-Union]
An independent auditor confirmed on Wednesday that dissident shareholders won four seats on CSX Corp.'s board of directors. But it could still be another month before the proxy fight between management and the shareholders is over.
›GOP Legislators Split Over Drilling Off Florida [St. Petersburg Times]
"I'm tired of spilling blood in the Middle East for oil," said Senate President Ken Pruitt, R-Port St. Lucie, a drilling proponent whose son is a Marine. "If we're going to protect our nation, you've got to protect resources." Here's a roundup of what lawmakers are thinking.
›Trump Tower Developer to Face Creditors for $40M [St. Petersburg Times]
Developer SimDag LLC declared bankruptcy on June 17 after failing to get financing for the 52-story downtown tower on the Hillsborough River.
Related: Russian mogul pays Trump $95 million for mansion
›Metrorail Projects Going Far Off-Track [Miami Herald]
A new report released Wednesday says the county will need to generate $9.4 billion more over the next 30 years to support Miami-Dade Transit -- including three linked Metrorail projects collectively known as the Orange Line.
›Florida Ranks 24th in New Measure of U.S. Well-Being [Tampa Tribune]
The authors of the nonprofit study effort look at the same standards — based on government data on health and life expectancy, education and income — used by the United Nations in compiling its reports on developing nations.
›Photos: Crist's Visit to London for Trade Mission [Flagov.com]
Click here to see what our governor is up to in the UK.
›Venice Builder Wants to Deal [Sarasota Herald-Tribune]
Facing financial pressures and stalled projects, developer Mike Miller says he still plans to build a resort and spa in Venice -- but will need dozens more rooms and concessions from City Council before he can break ground.
›SRI Led Way to Attract New Lab [St. Petersburg Times]
The state of Florida and local governments on both sides of Tampa Bay are budgeting a total of $30-million to woo a Massachusetts firm that makes tiny machines for biomedical and defense products.
›Opinion: Back to the Future With 55-MPH Limit [Miami Herald]
There's a suggestion the country could save energy by lowering the national speed limit to 55 miles per hour. The idea is a throwback to the 1970s, a piece of nostalgia that isn't worth revisiting.
Who drives at 55 mph?
›B/E Aerospace Forecasts Record 2Q Earnings [Palm Beach Post]
The Wellington-based company said it also expects to report record quarterly bookings, backlog, revenue, operating earnings and net income.
›Rivera Beach Closes Gap in Saggy Pants Law [Palm Beach Post]
Police can now write up people who fail to pull up in order to make them pay up.
The city council voted unanimously Wednesday night to close a legal loophole that kept police from enforcing the city's saggy pants law.
›Hollywood Proposes Maximum Property Tax Increase [Sun-Sentinel]
Facing a $14 million shortfall, city commissioners could raise property tax rates to keep most services intact. Whether they adopt the hike and risk taxpayers' ire remains to be seen.
›UF Journalism College Turns the Page [Gainesville Sun]
A new University of Florida center will be a "media farm" for growing knowledge about digital journalism, UF officials announced Wednesday.
The Center for Media Innovation and Research will train students in digital media and house a think tank conducting research in the field.
›Raytheon Cleanup Could Take Years [St. Petersburg Times]
Now, with everyone from Charlie Crist to Sen. Bill Nelson demanding action, Raytheon officials say it will begin a preliminary cleanup of a St. Petersburg neighborhood.
›Disney World Names Sentinel's Griffin to Post [Orlando Sentinel]
Veteran Orlando Sentinel journalist Mike Griffin has been named vice president of communications at Walt Disney World. Also: Orlando airport authority hires Phil Brown as new deputy executive director
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