October 24, 2020

Monday's Daily Pulse

What you need to know about Florida today

| 10/12/2020

The hospitality industry may not come back for years. What will its workers do?

An estimated 37.2 million American workers are in industries that have heavily slashed employment due to COVID-19. Of that number, nearly 10 million people — about one in four — are employed in restaurants and bars. Some experts have predicted that tourism may not return to pre-pandemic levels until 2024 — potentially leaving many without jobs for the foreseeable future. [Source: Miami Herald]

The pandemic is pushing people to financial ruin. And the worst hardships lie ahead

A growing number of unemployed Floridians, their finances shredded, are struggling to pay for their homes and feed their families as COVID-19 pushes the economy to the brink that many have feared since spring. Nearly seven months after the coronavirus shattered businesses, disrupted industries and forced hundreds of thousands of working Floridians to the sidelines, South Florida’s social safety net is severely frayed. [Source: South Florida Sun-Sentinel]

Florida adds 5,570 coronavirus cases after duplicate test data halts daily report

The Florida Department of Health posted 5,570 new coronavirus cases and 178 new fatalities on Sunday, after the agency said a large dump of test results prevented it from producing a report Saturday. To date, 734,491 people have been infected statewide, and 15,364 Florida residents have died. With 188 non-resident deaths, the combined toll is 15,552. Florida health officials on Saturday said they were forced to delay the release of the coronavirus report because a lab dumped about 400,000 tests results that had previously been submitted. [Source: Orlando Sentinel]

Brace yourself: Your next home insurance rate increase is going to be a whopper

South Florida homeowners are about to get hit with insurance rate increases unlike any other they’ve ever experienced. Insurers have been warning for years that these increases would hit us hard. And now they’re here, thanks to years of rising claims abuses, court-clogging litigation, spiraling costs from hurricanes Irma and Michael, and one of the most active seasons in memory for severe and destructive weather. [Source: South Florida Sun-Sentinel]

NASA, SpaceX delay next astronaut launch until early or mid-November

NASA and SpaceX won’t be sending astronauts to the International Space Station in the wee hours of Halloween after all. NASA revealed Saturday that the SpaceX Crew-1 mission from Kennedy Space Center to the International Space Station won’t happen any sooner than early to mid- November so SpaceX can complete hardware testing and data reviews of gas engine generators from a Falcon 9 rocket first stage during a recent non-NASA mission attempt. [Source: Orlando Sentinel]

ALSO AROUND FLORIDA:

› As funding runs out, Florida Theatre launches campaign to reopen in December
The Florida Theatre, which had to close in early March because of the pandemic, has launched a “Cross the Finish Line” campaign to help the historic theater reopen in December. The Florida Theatre is expected to announce its plans for reopening and new events on Monday.

› New Smyrna Beach businesses starting to recover from losses
It’s all about local on Flagler Avenue In New Smyrna Beach. Several homegrown shops and restaurants line the street, and like most businesses, these have taken a hit because of the pandemic. Shannon Mathis owns Gypsy Vibes on Flagler Avenue. “Once they did shut the restaurants down, or they brought the restaurants to a lower capacity, we definitely saw a decline,” said Mathis. She moved from Illinois and bought the store shortly before the coronavirus spike this summer. Business was slow, but now it’s rebounding.

› Boca’s new golf course could lose money, but city officials say it’s worth it
The Boca Raton Country Club hasn’t been making money, and now its owners are handing it over to the city. Will it become a municipal money pit? No one knows. Optimistic city officials say they might break even or perhaps lose a bit of money, but it’s a gamble they’re willing to take.

› Carnival reports $2.9 billion loss, still assessing testing options for Nov. 1 cruises
Carnival Corporation reported a net loss of $2.9 billion, or $3.69 earnings per share, for the three months ending in August 2020. In a Thursday filing to the Securities and Exchange Commission, the company said it had a cash burn rate during the three-month period of $770 million as it nears the end of its seventh month without cruises in the U.S., its most lucrative market.

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