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Thursday's Daily Pulse
What You Need to Know About Florida Today
Women's Business Ownership Has Expanded, But Revenue Trails
Women are opening their own businesses at a rapidly growing rate, yet they are securing a dwindling piece of the revenue pie. From 1997 to 2007, according to a study by the U.S. Women's Chamber of Commerce, the number of women-owned businesses in Florida grew nearly 60 percent to more than 580,000. That's about 26 percent of all Florida businesses. Over that same period, however, the businesses' share of total revenues in the state fell 8 percent to 5.4 percent. [Source: Florida Today]
Economy Is Key to Florida Primary Victory
After weeks in which tens of millions of dollars have been spent on negative ads about career politicians and Medicare fraud, the Aug. 24 primary for governor between Rick Scott and Bill McCollum may turn on one simple issue: Who do Republican voters think can turn around Florida's dismal economy and record 11.4 percent unemployment rate? [Source: Sarasota Herald-Tribune]
Port of Palm Beach Sees One-Day Shipping Record
The Port of Palm Beach on Monday broke its one-day record for ship tonnage, although the single-day spike looks more like an anomaly than part of a major upswing in traffic. Nine ships totaling 95,526 tons were in the port on Monday, including four container ships from Tropical Shipping, the Bahamas Celebration cruise ship and the Albany Sound, which unloaded sugar from Mexico. The port's previous single-day mark was set in 2003. [Source: Palm Beach Post]
'Omen' Points to Market Meltdown
Jim Miekka, who is blind and lives part-time in Homosassa, created the Hindenburg Omen, an investment indicator that crunches technical factors that can portend a significant drop in the stock market. It is now predicting a market meltdown in latter September. [Source: St. Petersburg Times]
Florida May Seek Billion-Dollar BP Payment to Plug Budget Gap
Florida may ask BP Plc for an emergency payment of more than $1 billion to plug a hole in its budget after the largest U.S. oil spill, and neighboring Gulf Coast states are weighing their options.
Steve Yerrid, a Tampa lawyer chosen by Florida Governor Charlie Crist to advise him on legal issues concerning the spill, said the state may seek an initial payment in the "lower range" of billions of dollars to make up for lost tax revenue.
[Source: Businessweek]
ALSO AROUND FLORIDA:
› Amtrak Face-Off with State Imperils SunRail
A months-long disagreement between Florida and Amtrak over insurance has delayed one of the most critical steps to creating the SunRail commuter train: the $150 million purchase of the tracks.
If the impasse continues much longer, it could derail the summer 2013 debut of the most expensive and ambitious mass-transit project in Central Florida's history.
› Plans for Sun Life Water Park Making a Splash
Come 2012, the Miami Dolphins could share space with a water park south of Sun Life Stadium -- an effort to keep summer business after the Florida Marlins leave for Little Havana. The water park -- which would include private cabanas and a ``swim with the fish'' pool -- would be South Florida's first new major attraction since Jungle Island opened in 2003 on Watson Island. And it will be the region's first water park since Atlantis the Water Kingdom closed almost two decades ago.
› Gov't. Workers Get Raises Despite Economy
Despite crushing job losses and record unemployment, some local government workers in South Florida will receive generous raises of up to 8 percent in the next fiscal year.
At least 14 local governments are promising pay hikes beginning Oct. 1, with hefty boosts going to some Palm Beach County firefighters (8 percent); some unionized workers in Lighthouse Point (8 percent); and some Davie police officers (5 percent). Some of the raises are required under employment contracts signed before the economic downturn.
The raises don't come cheaply.
› OPINION: Groundwork for Space Coast Jobs
The outlook for rebuilding the Space Coast’s post-shuttle economy finally is coming into clearer view.
The transition will be extremely difficult as thousands lose their jobs.
But new policies and proposals coming together in Washington suggest the long-term prospects won’t be as bleak as pessimists fear, providing that our community embraces change and innovation, and runs with it.
› More Cars, More Jobs?
If recent hiring by Lehman auto and other local dealerships proves a trend, it would signal that jobs finally may be following a rebound in consumer sales across South Florida. The hope is that with economic activity moving up, companies soon will be forced to start hiring again. After jumping 7 percent at the end of 2009, worker productivity finally recorded a decline this spring -- a sign that employers probably can't make do anymore with their current workforces.
› Health Reform Puts Insurance Agents in the Crosshairs
Jupiter-based insurance agent Neil Primack says he works hard to help people find health insurance policies that work for them.
For his efforts, he has been well paid. But that might soon change, because of health reform.
As the Affordable Care Act is implemented, it's going to require that more health care spending goes to actual health care, rather than insurance underwriting, administration or big salaries, Health and Human Services Secretary Kathleen Sebelius said this week, highlighting the fact that next year, insurance companies will have to send rebates back to consumers if they overcharge.
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