No Florida recession, Fed index says
Florida should avoid a recession through the start of 2012, even as some state economies show signs of shrinking, according to a Federal Reserve index. The Philadelphia Fed's leading index of state economies showed Florida dropping slightly in August, but still in positive territory. That means the index predicts Florida's economy will continue growing for at least six months. Thursday's report runs counter to predictions that the country is heading for a second recession. [Source: Miami Herald]
Ho-hum hiring: Holiday job outlook not so jolly
As the first strains of the Nutcracker Suite tinkle from felt-draped shelves, managers are starting to hire for the holidays. Forecasts show holiday sales will be up slightly, but seasonal hiring will likely be similar to last year or lower, a further sign of the lag in the economic recovery. In Florida, the retail industry creates 1.7 million jobs and generates 21 percent of labor income either directly or indirectly, according to the National Retail Federation. [Source: Palm Beach Post]
Plan to privatize some Florida prisons being challenged in court
In a courtroom across the street from the state Capitol, the Legislature is in effect on trial, accused of illegally requiring that prisons in 18 counties be turned over to the control of private vendors. The legal challenge by the Florida Police Benevolent Association, a union representing correctional officers, seeks to block the privatization from moving forward at a critical juncture. The Legislature is not a party in the lawsuit. The defendant is the Department of Corrections, which is responsible for implementing the privatization venture in a region stretching from Bradenton to the Florida Keys. [Source: Times/Herald]
Want to feel rich? New service offers drivers for your car
You don't have to be a millionaire to have a chauffeur drive your car these days. A new South Florida car service will send out a personal driver to pilot your car home after a night of partying, bring you back after minor surgery or pick up the children from school while you finish up that afternoon meeting at the office. RedCap of Fort Lauderdale officially launched this summer after a trial run and now claims 1,000 members who pay a monthly or annual fee to join. [Source: South Florida Sun-Sentinel]
Florida CHIP program 'treading water'
Despite the tough economy, Florida's Children's Health Insurance Program added just 2,000 children in the year ended June 30, for a growth rate of less than 1 percent. Among school-age kids, the program added just 700 children.
Before last year, the Florida CHIP program was growing by about 8 percent a year. It now has about 275,000 kids enrolled.
[Source: Kaiser Health News]
ALSO AROUND FLORIDA:
› Wages growing slower in South Florida than elsewhere
South Florida lags the pack when it comes to growing wages during a weak economic rebound.
Weekly wages at the start of 2011 grew 3.2 percent in Broward to $834 and 3.4 percent in Miami-Dade to $874. Both results trailed the national average of 5.2 percent. Out of the country's 323 largest counties, Broward's wage growth held the 219th slot and Miami-Dade took slot No. 200.
Hotels and restaurants were one of the biggest employment gainers in South Florida this year, but also hold some of the lowest paying jobs. The new statistics capture the downside to the hiring rebound: The most plentiful jobs don't bring great paychecks.
› COLUMN: Forget Texas, Florida needs to go its own way
Gov. Rick Scott's fixation with all things Texas is on the verge of moving from harmless emulation (his signature black cowboy boots embroidered with "45th Governor") to unchecked obsession.
Scott has looked to Texas Gov. Rick Perry when formulating everything from his tax policy to his call for fewer regulations. He likes to banter with Perry over who can create more jobs.
Now Scott is taking his fascination to a new level, considering a sweeping proposal that Texas hasn't even implemented yet that would amount to a giant step backward for Texas' public universities.
» The Texas-Florida Connection:
Hold Your Horses, Rick
› Raymond James will pay $2 million over Finra unfair charge claim
Raymond James Financial Inc. will pay more than $2 million to resolve Financial Industry Regulatory Authority claims that more than 15,500 brokerage clients were charged excessive commissions on securities trades.
› Most Floridians skip renters' insurance
Nearly 85 percent of Florida renters don't buy property insurance.
Security First Insurance in Ormond Beach crunched the numbers and found there are 331,398 renters' insurance policies in the state for more than 2.1 million renter-occupied housing units, according to the Census. The company started offering renters' policies this week.
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› Manatee manufacturer Teltronics plans sale of assets
Teltronics Inc., the locally based telecommunications hardware and software maker that filed for bankruptcy protection in June, has filed an exit plan that calls for it to sell all its assets.
There were no details about a buyer, price or other details in a filing in U.S. Bankruptcy Court in Tampa.
The Manatee County-based company, which had roughly 130 employees, said its sales could no longer support its operations when it filed for protection from its creditors earlier this year, listing $9.1 million in assets and $19.8 million in liabilities.
› Fla. GOP leaders back away from plans for immigration reform
Can Florida legislators turn their backs on immigration reform?
That is the question hovering over Republicans this week after Rick Perry's performance in last week's presidential debate and the results of the Florida straw poll, which show that being soft on the issue can imperil Republicans strapped to a primary.
Florida's Tea Party activists say they will accept nothing short of requiring every employer to check the immigration status of their workers through the federal E-verify program in January when legislators convene in regular session. But armed with the support of Florida's powerful agriculture and business groups, the same legislative leaders who last year promised Arizona-style immigration reform are now barely offering tentative support for it.
› As Disney World turns 40, its strategy shifts
Walt Disney World turns 40 this weekend, and in many respects, the place looks a lot like it did at 30.
The resort hasn't built a new theme park in 13 years. It hasn't added a water park in 16 years. It hasn't opened a company-owned hotel in eight years, though a new one is under construction.
It is in sharp contrast with Disney World's first three decades, which began when the Magic Kingdom debuted Oct. 1, 1971.
› College kids teach FIU administrators the value of hard work
Call it a lesson in Economics.
When faced with a higher-than-expected number of students taking part in its work-study program, coupled with a drop in federal funding, Florida International University had a problem on its hands.
The university's solution: slash the program, affecting about 600 students.
But the angry students, many of whom were worried about how they'd pay their car payment or monthly rent bills, decided they could teach the administration a thing or two.
› North Lakeland Farm Opens Corn Maze and More
As economic times get tougher, people have to think outside the box to get by. For Donna Smith and her family, their farm is about to get a bit more confusing to get around, or should we say "cornfusing."
› New lawsuit filed over failed Proscenium project in Sarasota
Principals in the failed Proscenium real estate project are suing a former partner for a second time, alleging fraud over a series of payments from a financier.
Proscenium principals Gary Moyer and Karen Cook are also asking for a temporary injunction to stop Zeb Portanova and his attorney, Will Schlotthauer, from moving hundreds of thousands of dollars to personal accounts that Moyer and Cook claim is owed to partnerships.