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Tuesday's Daily Pulse

U.S. shutdown strategy - Many advisers keep clients in stocks

The looming U.S. government shutdown has plenty of investors asking if it's time to exit the stock market or stay put. Stock prices have been under pressure in recent days in anticipation that the government may shut down on Tuesday if lawmakers are unable to agree on a spending bill. [Source: Reuters]

» Congress plunges nation into government shutdown
» Government shutdown will hit thousands of Floridians
» Government shutdown: What's closed and what's not

As Obamacare marketplaces open, sales pitch begins in earnest

When the federal health care marketplaces open Tuesday, hundreds of volunteers will fan out across the state urging colleagues, co-workers and students to investigate their health care options and sign up for insurance. In Florida, the reluctance of Republican state leaders to embrace the law is contrasted against the relatively high number of uninsured Floridians. [Source: Times/Herald]

» The Affordable Care Act & South Florida Businesses
» Obamacare set to open – but without planned consumer help
» Health insurance marketplace key to reform opens

Florida Trend Exclusive
Florida banks have room to breathe

Thanks to a real estate revival, things are looking up for many Florida banks. "There's no other state in the country where the banks are so dependent on real estate and the housing market," says Ken Thomas, an independent bank consultant and economist in Miami. "We're seeing very good numbers in every market. This is all good news for the banks." Full story...

Florida investigation launched into MLB drug clinic

State prosecutors in Florida have launched an investigation into the now-closed clinic at the center of Major League Baseball's latest substance abuse controversy. A spokesman for Miami-Dade State Attorney Katherine Fernandez Rundle confirmed Monday that at least one criminal subpoena has been issued for documents in the case. [Source: AP]

New laws, including texting while driving ban, go into effect

Florida is joining 40 other states in the U.S. where it is illegal to text and drive. The ban is one of more than two dozen laws passed by the Republican-controlled Legislature scheduled to kick in on Tuesday. Other new laws include one that gives citizens the right to speak at government meetings. [Source: AP]


› Italian cooking legend Marcella Hazan dies
Marcella Hazan, whose many cookbooks introduced Americans to the true food of Italy, died Sunday morning at her home in Longboat Key, Fla., according to her husband, Victor Hazan. She was 89 and had been in failing health for several months.
» Related: Remembering Marcella Hazan
Related Florida Trend Archived Content
» Florida Icon: Marcella Hazan

› FPL busy recycling materials from its former plant
Welcome to the "Extreme Recycling," part of FPL's clean-up from the July 16 controlled explosion of its 1960s-era power plant formerly known for its candy-cane striped smokestacks. The company aims to reclaim about 160,000 tons of concrete and metal from the plant for re-use.

› Mortgage aid program has fewer than 3,000 slots left
As of Monday morning, fewer than 3,000 slots remain for a $350 million state program designed to help underwater borrowers. The Florida Housing Finance Corp. is limiting applications to 25,000. It hopes to find 10,000 eligible homeowners.

› Trader Joe's eyeing Fourth Street N in St. Petersburg
Businesses in the 2700 block of Fourth Street N in St. Petersburg will be closing soon and employees believe it's to make room for Trader Joe's, the grocery chain known for avid fans and discount prices on eclectic foods.

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› South Florida overdraft, ATM fees among highest in nation
Banks in South Florida have among the highest overdraft and ATM fees in the nation, according to a survey by Bankrate.com. The North Palm Beach-based company (NYSE: RATE) said the region ranked fourth for overdraft fees at $33.89, up 4 percent from the year before.

› Odyssey Marine ordered to pay Spain $1 million in Black Swan case
Not only did Odyssey Marine Exploration lose the legal battle with Spain over a boatload of treasure, but a federal judge has ordered the Tampa company to pay $1 million for "bad faith and abusive litigation."

› Ask An Expert: Get free financial advice from planners
Have a question about retirement, investment and anything else involving your finances? This Friday from noon to 1 p.m., you can chat for free online with a financial planner at OrlandoSentinel.com

› Southwest Florida College OK with Edison State's new name
Edison State College will avoid a lawsuit from a New Jersey institution by changing its name, but its future moniker resembles a college much closer to home. Edison trustees voted last week to change the institution’s name to Florida SouthWestern State College.