Wednesday's Afternoon Update
What you need to know about Florida today
Miami land sells for $100 million an acre
A prime waterfront site in Miami sold for $100 million an acre, a record high for a property of its size in South Florida. The 1.25-acre site on the Miami River at Biscayne Bay changed hands for a stunning $125 million. The buyer is Riverwalk East Developments LLC. “We got 15 offers,” said Gerard Yetming, senior vice president of CBRE, the listing broker. There was interest in the property from suitors in Miami, South America, Europe, the Middle East and Asia. More at the Miami Herald.
Going overseas for students
Florida teachers union challenges voucher expansion bill
The state teachers union filed a legal challenge to a controversial education bill Wednesday, saying it violates the constitutional requirement that legislative proposals be limited to a single subject. The bill, SB 850, expands the state school voucher program and creates new scholarships for children with special needs. More from the Tampa Bay Times.
Midterm elections aren't good for stocks
Historically, midterm elections have not been kind to stocks, according to research by Sam Stovall, chief equity strategist at S&P Capital IQ. Going back nearly 70 years, Stovall said the S&P 500 has suffered its worst six-month period of any four-year presidential term in the second and third quarters of a midterm election year. More from CNN.
Time-share mogul David Siegel confirms purchase of Orlando Predators
Time-share tycoon David Siegel is the new owner of the Orlando Predators — and he's moving the team back to the Amway Center. The Westgate Resorts CEO, whose family was featured in the film documentary "The Queen of Versailles," confirmed the purchase of the Arena Football League team Monday in an interview with the Orlando Sentinel. Not one to shy from publicity, Siegel wants Tim Tebow to play for his new arena football team. "If anyone knows Tim Tebow, tell him to call me," Siegel said. "The team number is 844-455-PRED." More here.
South Floridians look to crowdfunding to finance causes close to their hearts
Crowdfunding allows anyone to go online and raise money for a cause, from funerals to surgery to family emergencies. About $4.2 million has been raised by 4,391 campaigns from 49,314 donors within 50 miles of Miami, said Kelsea Little, a spokeswoman for the crowdfunding website, GoFundMe.com. "GoFundMe is very popular in the South Florida area," Little said. More from the Miami Herald.
Very carefully. The Cape San Blas Lighthouse in Florida's panhandle was moved to Port St. Joe on Tuesday with only minor power disruptions as utility workers dropped lines and put them back after the convoy passed. The lighthouse, which stood more than 100 years, came under threat after years of shoreline erosion compounded by Hurricane Isaac in 2012. The structure will be erected at George Core Park in Port St. Joe. More at the Panama City News Herald.
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