Wednesday's Afternoon Update

What you need to know about Florida today

| 10/9/2013

U.S. Rep. C.W. Bill Young to retire

U.S. Rep. C.W. Bill Young, Florida's most influential and longest-serving member of Congress, has decided to retire when his term ends in 2014. Young (R-Indian Shores) said there are several factors in why he won't run for re-election including his health and his desire to spend more time with his family. Young is 82. Read more from the Tampa Bay Times.

Florida ranks 5th in tax climate

The economy is improving. Jobs are increasing. The state's budget deficits are gone and debt has decreases. And now another piece of good news comes for Gov. Rick Scott: Florida is the fifth-best state when it comes to low taxes. Read more from the Miami Herald. and see the 2014 State Business Tax Climate Index from the Tax Foundation.

Defense symposium postponed due to shutdown

A major national conference that would have brought more 4,000 visitors to Tampa, filling hotel rooms and restaurants and bringing together intelligence agency and military leaders and defense industry behemoths, is the latest victim of the government shutdown. More at the AP.

Rating agency likes Seminoles' operation, outlook

Profile

Pensacola Network

Pensacola Network holds monthly meetings and is open to all businesses that want to connect with minority professionals. No membership is required, and there are no fees. The group has attracted support from Gulf Power. About 100 people showed up in August at the group’s first meeting.

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A global rating agency has upgraded the Seminole Tribe of Florida, citing improved management, 11 consecutive quarters of profits, and the possibility that $200 million in annual payments to the state could go away. More at the South Florida Sun-Sentinel.

Commentary: An Unnecessary Crisis

How will the government shutdown and debt ceiling crisis affect the economy and the markets? Raymond James & Associates Chief Economist Scott Brown contemplates the economic future and examines how we got into the current dilemma, how we can get, and what we can do to prevent it from happening again in the future. More at Raymond James.

Publisher's Column
Freedom Rising

Let us remember that our founding fathers described a nation where everyone can pursue happiness. Let us be open to the efforts of those trying to improve themselves — and let us not forget that the sins of the past still echo today in the lives of many. In the end, we will be judged not by the riches we gather, but by our humanity and fairness to all people. There are many competing visions for how to make Florida better.