Tuesday's Afternoon Update
What you need to know about Florida today
Florida consumer confidence jumps to post-recession high
Consumer sentiment among Floridians rose to a post-recession high in June, climbing four points to 82, according to a University of Florida survey. “Because the confidence level has been wavering between the upper 70s and low 80s for more than a year, we did not expect this jump,” said Chris McCarty, director of UF’s Survey Research Center in the Bureau of Economic and Business Research. That surprise comes as Florida experiences a slowdown in housing starts and a rise in unemployment. More from UF.
Column: The crisis in retirement planning
The move to defined-contribution plans arguably reduces the liabilities of business, but it has also increased the likelihood of a major crisis down the line as the baby boomers retire. The only way to avoid a catastrophe is for plan participants, professionals, and regulators to shift the mind-set and metrics from asset value to income.
Full column by Robert C. Merton at the Harvard Business Review.
Executive Pay: How some Florida CEOs stack up
People to Watch
Could HSN's Mindy Grossman be the next CEO of Target?
No CEOs of public companies in South Florida ranked among the top 50 CEOs nationwide in total compensation. But many South Florida CEOs are highly paid for a company of their size. For example, Office Depot's CEO Roland C. Smith and Wells Fargo CEO John G. Stumpf were nearly equal, even though Wells Fargo's market capitalization is about about 97 times greater than Office Depot’s. More from the Miami Herald.
» The case for CEO term limits
Charlie Crist calls off visit to Cuba next month
Charlie Crist has scrapped plans to go to Cuba this summer, citing time demands in his campaign for governor and delays in getting federal permission to visit the island nation. Crist's about-face was immediately called a "flip-flop" by Gov. Rick Scott's campaign, and it follows a recent poll that showed his July plans were not popular with Cuban-American voters in Miami-Dade, the state's most populous county. More from the Tampa Bay Times.
What LeBron James opting out of his contract with the Miami Heat really means
LeBron James, who just opted out of his contract with the Miami Heat, might or might not leave the Heat. This move by James just means that he will explore options in free agency. James was scheduled to $20.5 million next season and $22.1 million in 2015-16. He could sign a max deal with the Heat for five years, $130 million, sign a deal for less money and less with the Heat or sign a four-year deal worth as much as $96 million with another team. More from USA Today.
» James is the second highest paid American athlete, according to Fortune.
Starting July 1, pre-sales will start on four new license plates: Fallen Law Enforcement Officers, Florida Sheriffs Association, Keiser University, and Moffitt Cancer Center. Currently, Florida has 122 license plates. The latest tags come despite a “moratorium” lawmakers imposed on new license plates in 2008. The moratorium was set to expire this year, but lawmakers extended it through mid-2016. More at Space Coast Daily.
See all of Florida's license plates here (PDF brochure).
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