Tuesday's Daily Pulse
Small business lending is slow to recover
Across the U.S., small-business lending has been stuck in a slow, grinding recovery behind most other types of business and consumer loans. At the end of the first quarter, banks held $585 billion in loans to small businesses, up 1% from last September but still 18% less than the peak of $711 billion in 2008. [Source: Wall Street Journal]
See also:
» Small biz lending is down sharply, at a time when other kinds of loans are rising
» Small Business Lending: A Likely Hot Topic at Jackson Hole Summit
Construction jobs growing but skilled workforce nearly tapped out
During the past year, construction firms added jobs in 39 states but the availability of skilled workers is beginning to fall short of demand. Nevada led the way with the largest yearly percentage gain while Florida added the largest number of jobs, according to an analysis of Labor Department data. [Source: The Hill]
Increased domestic production keeping gas prices low
Despite international turmoil and because of increased domestic production, oil prices continue to trade near multimonth lows. Gas prices continue to slide and drivers on Monday were finding gasoline at or below $3.20 in metro markets including Orlando and Tampa. [Source: Gainesville Sun]
Investor groups that resurrected failed banks cash in on IPOs
Two investor groups that acquired a number of failed Florida banks during the past five years have come out with initial public offerings, looking to raise millions from new investors aiming to capitalize on the industry's resurgence. [Source: Sarasota Herald-Tribune]
Florida spent more than $2.46 million on security
Florida taxpayers spent more than $2.46 million to provide security for Gov. Rick Scott as well as governors from other states. A new report released Friday showed the state spent that much on security between July 2013 and June 2014. [Source: AP]
ALSO AROUND FLORIDA:
› Floridians passionate about, but puzzled by, endangered and invasive species [UF News]
Floridians would likely support a 1 percent sales tax bump to prevent and eradicate disruptive invasive species, a new University of Florida Institute of Food and Agricultural Sciences public opinion survey shows.
› Fort Lauderdale firm strives for happy, healthy crew [South Florida Sun-Sentinel]
Team Horner, a manufacturer, distributor and exporter of swimming pool equipment and supplies, is the first Broward County company to receive the PsychologicallyHealthy Workplace award. The company now moves to the national competition.
› ByoPlanet gets more business from Royal Caribbean [Miami Herald]
Sunrise-based sanitization company ByoPlanet International said it has received more than $2 million in new orders from Royal Caribbean Cruises Ltd. The cruise company, which is headquartered in Miami, has used ByoPlanet products and services in the past to clean its ships after stomach illness outbreaks.
› Group Sues Over Re-Drawn Florida Congressional Map [CBS Miami]
A coalition issued a sharply-worded motion Monday which called the recently redrawn Florida congressional “brazenly partisan” and claimed it would not fix the problems that prompted a judge to declare the original map unconstitutional in the first place.
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› Cost to raise a child $245,340, USDA says [Palm Beach Post]
A middle-income family with a child born in 2013 can expect to spend about $245,340 ($340,480 adjusted for projected inflation) for food, housing, childcare and education and other child-rearing expenses up to age 18, the U.S. Department of Agriculture said this week.
› Florida Chamber outlines economic strategies [Jackson County Floridian]
At a Monday morning seminar in Marianna, the Florida Chamber Foundation talked about strategies that the organization believes are necessary to make this region of the state a hot spot for manufacturing and other job-creating businesses.
› Freewavz: Another Central Florida crowdfunding success [Orlando Sentinel]
Yet another tech startup in Central Florida has closed on funding for its product via a successful Kickstarter campaign. Melbourne-based Freewavz, which develops wire-free earphones with built-in fitness monitoring, closed on $325,208 in funding.
› Q&A: Fred Reinhardt, leads Espirito Santo Bank in Miami — which is now for sale [Miami Herald]
The son of an American diplomat, G. Frederick “Fred” Reinhardt grew up all over the world, in France, Vietnam, Egypt, Italy and Switzerland. As a banker, his career has led him to New York, London — and most recently, Miami.