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Thursday's Afternoon Update

Foreclosures hit lowest level since 2006

Fewer U.S. homes entered the foreclosure process or were repossessed by banks in June, the latest sign that the nation is shaking off its housing bust hangover. Even so, foreclosures remain a potential drag on housing in many states, including Florida, Nevada, Illinois and Ohio. More at the AP.

» 5 of 6 Florida cities top foreclosure list
» Miami Tops U.S. Foreclosures as Banks Selling in Boom
» Florida leads in foreclosures, but new cases decline

"7 Gold Keys" to power up your business

What makes a business catapult to success and another fall apart at the seams? Look at the success of two polar-opposite companies: Apple and Snuggie. It doesn’t matter how groundbreaking or simple a product is, it is about the business model. More at the South Florida Business Journal.

Fate of historic Miami Marine Stadium to be decided

Business Profile

Draken International

Looking for a MiG-21 fighter jet with a top speed of Mach 2? You’ll find a fleet of them in Lakeland, home of Draken International, which maintains more than 50 tactical fighter aircraft, including 25 MiGs.

» Full story

The commission is set to vote on the scope of city property to be turned over to the control of Friends of the Miami Marine Stadium. Approval would set in motion an oft-delayed plan by the group to raise $30 million to renovate the historic stadium grandstand and reopen it as a multi-purpose venue for concerts, boat races, sailing regattas, triathlons and community events. More at the Miami Herald.

Related Florida Trend Archived Content
» Miami Marine Stadium

Teaching ethics at county hall, city halls

A new online ethics course is ready for the almost 30,000 Miami-Dade County employees to take. Elected officials from all municipalities in the county will also have to undergo ethics training through a different course, tailored for them. Read more at Miami Today and see Florida Trend Executive Editor Mark Howard's recent column: Ethics, Sort Of.

The cost of Florida bank failures

The pain of Florida bank failures still lingered for the Federal Deposit Insurance Corp. last year, but the damage lessened a bit. Since 2008, regulators have shut down 68 Florida banks costing the FDIC’s Deposit Insurance Fund $12.4 billion. Read more and see a slideshow at the South Florida Business Journal.

The Price of Success
Shoe store is so successful it's a problem

all shoes 3.99One man's parking problems and traffic congestion is another man's brand new shoe wardrobe for less than $10 per pair. All Shoes $9.88 and its three satellite stores are crowded no matter the time of day or the day of the week. The stores are so wildly popular that code enforcement has had to cite them at least 15 times during the five years All Shoes has been open.

» Full story from the South Florida Sun-Sentinel