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Tuesday's Afternoon Update
What you need to know about Florida today
Florida retail sales outpace the nation
November marks the beginning of the holiday season and the start of retailers’ busiest days of the year. This year, Florida holiday sales are expected to be better than those in 2013. However, increased consumer spending may not benefit Florida retailers like it should due to a tax loophole. The full report from Florida TaxWatch is here.
U.S. economy grew at 3.9 percent in third quarter
The U.S. economy grew at a solid 3.9 percent annual rate in the July-September period, even faster than first reported, giving the country its strongest six months of growth in more than a decade. More at the AP and USA Today.
Survey: Hispanic shoppers to spend less on holidays
Marketing
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Here's the kind of data that makes retailers shudder: 40 percent of Hispanics said they will spend less on holiday shopping compared with last year. That compares with 29 percent who said they will spend more money and 31 percent who said they will spend the same as last year. More at the South Florida Sun-Sentinel.
Hertz names former United Airlines executive CEO
Hertz Global Holdings Inc. named former United Airlines executive John P. Tague as the car-rental company’s next chief executive. He will replace Mark Frissora, who stepped down as Hertz CEO early in September. Carl Icahn , who participated in the selection of the new CEO, said the search committee met many highly qualified candidates. “I have been involved in a number of CEO searches during the last decade,” Mr. Icahn said. “I am happy to say that after listening to John’s ideas concerning Hertz and evaluating what he has accomplished at United, I believe he ranks at or near the top of the group.” More at the Wall Street Journal or read the company's full announcement here.
Mote selling caviar, sturgeon business
Mote Marine Laboratory is selling its more than decade-old sturgeon and caviar business to a local group that wants to move the nonprofit's aquarium to a bayfront site downtown. More at the Sarasota Herald-Tribune.
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