October 25, 2014

Wednesday's Afternoon Update

What you need to know about Florida today.

Will Short Gorham | 6/13/2012

Southerners have suffered the worst from the Great Recession

The South has suffered the steepest drops in median income than any other region in the country since the Great Recession hit, according to a new analysis by the Federal Reserve Board. Median before-tax family income fell nearly 10 percent in three years from 2007 to 2010 compared to the nationwide drop of 7.7 percent. Median income plummeted to $40,700 in the South in 2010 -- compared to $53,700 family median income in the Northeast, $46,500 in the Midwest and $48,800 in the West. [Source: South Florida Sun-Sentinel]

Related:
» Federal reserve study


Business Profile
Naples Olive Oil Company

Floridian

Before Marie Heiland opened her shop, she did not know olives need to be picked, crushed and pressed in a day's time. Or that vanilla ice cream drizzled with blood orange olive oil tastes like a Creamsicle.

But after four years of hard work and planning, the owner of the Naples Olive Oil Co. has found a niche.

Shops like Heiland's that sell one product or offer one service may be dwarfed by big box retailers and chain stores, but owners and operators of Southwest Florida's specialty stores have unparalleled expertise in their product and the opportunity to make their passions profitable.

» Full story at Naples News and see the Naples Olive Oil Company.

State hires firm to analyze PIP changes

The Florida Legislature enacted sweeping changes to the state’s no-fault auto insurance law this year in hopes of reducing premiums. Now the state will pay private actuaries to determine whether it will work. On Tuesday, the state Office of Insurance Regulation signed a $150,000 contract with Pinnacle Actuarial Resources to analyze the impact of changes to the law that requires drivers to buy personal injury protection (PIP) coverage. [Source: Health News Florida]


Pricier beer finds place in Southwest Florida

Craft beers are helping area businesses grow their sales. Traditional beers in Southwest Florida still make up the largest part of the beer business, but while traditional beer sales are flat or showing marginal growth, craft beers are gaining sales. “In the last 10 months, the craft beer world has really taken off here,” said Mike Duvall, a specialty brand manager with J.J. Taylor Distributing Florida. [Source: Fort Myers News-Press]


Consumer study: Fliers less satisfied with airlines in 2012

Fliers were less satisfied with airlines in 2012, following two years of consecutive improvement, according to a national consumer study. On a 1,000-point scale, passenger satisfaction fell 2 points to an average of 681, the J.D. Power and Associates survey revealed Wednesday. The survey measured leisure and business travelers' satisfaction based on seven factors: cost and fees, in-flight services, boarding/deplaning/baggage, flight crew, aircraft, check-in and reservation. [Source: South Florida Sun-Sentinel]


Is the Miami mansion boom becoming a bubble?

Miami real-estate agents are hyping the market with a level of heavy-breathing not seen since 2006. Prices can only go up, they say. Sales of million-dollar condos in 2011 are up nearly 20 percent over the previous peak year of 2006. But a closer look suggests that the Miami boom is displaying some bubble-like tendencies. [Source: CNBC]


Out of the Box
metropole "It's like Mary Kay on steroids!"
When Michael Craven moved to Jacksonville in August, he wasn’t sure what he was going to do for a living, being a professional personal chef and caterer. But then he found literal manliness in a new company. After groping around for work for about half a year, Craven landed a job with Man Cave World Wide, a new service that’s designed to bring what the company describes as testosterone back into the home. Read more from the Florida Times-Union, visit Craven's Man Cave site and see video below:


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Fabien Cousteau
Fabien Cousteau

This summer, Fabien Cousteau lived for 31 days aboard the Aquarius, an underwater research laboratory nine miles off the coast of Florida.

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