Florida's economy still on recovery track

The Federal Reserve still has Florida’s recovery on track. The Philadelphia office of the Federal Reserve maintains leading economic indices for all 50 states, and Florida is performing well. The latest reading predicts Florida’s economy will continue expanding at about 1.5 percent for the next six months. That’s still weak, but better than the average pace of 1.1 percent growth registered in 2011. [Source: Miami Herald]

Related:
» Florida businesses post best January ever

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Missing money leaves investors feeling fleeced

Yet another suspected megafraud has left victims in Florida feeling fleeced and angry, demanding justice and clamoring for their money back. The victims are growers, ranchers, pension funds and retirees — including a single mom in Fort Lauderdale and a retired physician in Boca Raton — who trade in commodities. They are among tens of thousands of investors who discovered last year that money they thought was secure in their own accounts had simply vanished. [Source: Orlando Sentinel]

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Florida Trend Exclusive
Tampa Bay Economic Indicators

Tampa is adding some healthcare muscle and will get a boost from the Republican National Convention in August, while St. Petersburg’s medical device industry shows strength.

Dr. John Armstrong, medical director of the Center for Advanced Medical Learning and Simulation, which opened last month, says the center is expected to draw up to 60,000 medical professionals a year. [Photo: USf/Bobby Bishop]

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Communication key to spreading your message

Whether you are speaking with possible investors, your employees, real or potential customers, or your neighbor, as entrepreneurs you need a communication strategy to make people feel like they are in the loop — at whatever level you deem appropriate. Often, people who know about your start-up venture may be interested in helping you, in a sense becoming an unofficial sales force. With good communication, you can equip them with your message of choice. [Source: Miami Herald]

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In Florida, painkiller crackdown shifts federal pill probe to mainstream drug stores

The prescription pain pill crackdown in Florida by federal agents is migrating quickly from pill mills to mainstream drug store chains. Witness last week's search of six Walgreens stores — including in Port Richey and Hudson — and its distribution center in Jupiter. Small wonder. Red flags soared quickly at Walgreens, the country's largest drug store chain. [Source: Tampa Bay Times]

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ALSO AROUND FLORIDA:

› Florida ranks first, and last, in pre-K education [WCTV]
Every 4-year-old in Florida is eligible for a free pre-k education. That has earned the state the number one ranking in the county from The National Institute for Early Education Research for access. But the same study ranks Florida dead last in quality.

› Obama visit will raise FAU's profile beyond South Florida [South Florida Sun-Sentinel]
It's a school that often struggles to be noticed outside of South Florida. But on Tuesday, Florida Atlantic University will get an unexpected boost from the nation's top leader. Not bad for a university that just five years ago was known as a commuter school with little campus life.

› Tampa starts work on master plan to guide downtown growth [Tampa Bay Times]
Mayor Bob Buckhorn launched a year-long effort Monday to write a master plan for downtown with the help of residents, neighborhoods and business owners.

› Few regulations for businesses caring for elderly [Ocala Star-Banner]
Before serving even the first child, Florida statutes require 30 hours of training. To take care of an adult client, in certain cases, the state says you don't have to get any training at all. Yet, clients of both age ranges are more vulnerable than most adults — the young being cared for in day care and the elderly in their homes.

Go to page 2 for more stories ...

› "Millionaire'' contestant admits financial fraud [Tampa Bay Times]
Michael A. Prozer III appeared on Bravo television's The Millionaire Matchmaker in 2009 claiming he was worth $400 million and operated a company with business in 36 nations. Unknown to viewers, the Tampa resident was something other than a millionaire date. He was a fraud.

› Hospitals to stop giving free baby formula to new moms [South Florida Sun-Sentinel]
Several South Florida hospitals are taking the first step to drop a controversial item from the goodie bags they give to new mothers going home after a birth: free samples of baby formula. The move comes after sharp criticism — last year by the federal Centers for Disease Control and Prevention, and Monday by the consumer group Public Citizen — that the freebies and coupons for formula undermine the goal of more breastfeeding.

› Court overturns $79.2 million award in tobacco case [Fort Myers News-Press]
An appeals court Monday rejected a North Florida jury's call for R.J. Reynolds Tobacco Co. to pay $79.2 million to the daughter of a dead smoker --- overturning what could have been the largest verdict in a barrage of lawsuits against cigarette makers. The 1st District Court of Appeal sent the case back to Levy County circuit court to determine a reduced amount of damages in the 1996 lung-cancer death of James Cayce Horner.

› Darden plans to build world's largest lobster farm [Orlando Sentinel]
In what could be an underwater gold mine, Orlando-based Darden Restaurants plans to create the world's largest lobster farm in Malaysia, allowing it to sell the crustaceans in Asia and supply them to its chains such as Red Lobster. The lobster farm would allow Darden to partially shield itself from rising seafood prices while creating a new revenue stream.