Tuesday's Afternoon Update

What you need to know about Florida today

| 5/20/2014

Underwater mortgages hurt average homeowners the most

While “underwater” mortgages are declining across South Florida, the problem still disproportionately affects low- and mid-priced homes, a new report shows. Roughly 43 percent of mortgaged homes valued at $86,100 and below are worth less than what's owed, according to Zillow.com. More at the South Florida Sun-Sentinel.

BP faces billions in spill payments as court upholds deal

BP faces billions of dollars in additional payments after failing again to convince an appeals court that the company is being forced to pay claims that aren’t directly related to the 2010 Gulf of Mexico oil spill. More at Bloomberg News.

Orlando as next neutral-site destination?

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Life lessons from hockey great Phil Esposito

The retired Tampa Bay Lightning executive talks about losing his daughter, what drove him to succeed and things that tick him off.

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Orlando used to be a player in neutral-site college football games, until its stadium turned into a dilapidated mess. But now that extensive renovations have gotten underway, Orlando could be the next "en vogue" town in the neutral-site business. More at ESPN.

UF ponders future growth as money for infrastructure burden sunsets

The state of Florida has paid out $35 million to Gainesville and Alachua County since 1998 to help pay for roads, buses, and bike and pedestrian lanes stressed out by a growing University of Florida campus. The source of that money is now gone, raising questions about whether UF can continue to grow. More at the Gainesville Sun.

Rising sea levels are destroying NASA's multi-billion dollar facilities

Sea level rise is threatening the majority of NASA's launch pads and multi-billion dollar complexes famous for training astronauts and launching historic missions to space, scientists said on Tuesday. From Cape Canaveral in Florida to mission control in Houston, NASA is busily building seawalls and moving buildings further inland. More at the Agence France Presse .

Profile
A lesson in diversification

For more than a decade, south Florida-based SRT Group survived on government contracts, providing federal agencies with advanced satellite and wi-fi technologies. Then founder Rick Lund began trying to diversify the 15-year-old company’s customer base. In 2011, he got the foothold into the private sector he wanted when SRT won a contract with Dubai-based Thuraya.