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Wednesday's Afternoon Update
What you need to know about Florida today
Florida businesses ask Legislature for tax cuts, immunity from COVID-19 lawsuits
A coalition of business interests has released its wish list for Gov. Ron DeSantis and state legislators to consider in 2021, including cutting taxes, revamping alcohol laws and providing broad immunity from lawsuits stemming from the coronavirus pandemic. “The future of Florida is glowing bright, and it is the hope of the … task force that COVID-19 has only served as a bump in the road,” said the 74-page report issued by a group calling itself the Restore Economic Strength through Employment & Tourism Task Force. More from the News Service of Florida.
More Floridians turn to Obamacare as pandemic deepens
Obamacare is more popular than ever in Florida. Signups by Florida consumers for Affordable Care Act health care plans increased by 7% during the first three weeks of open enrollment compared to last year, federal figures show. Experts say more enrollees are likely turning to the health care marketplace because they lost their jobs and with them their employer-based health insurance during the COVID-19 pandemic. More from the South Florida Sun-Sentinel.
Stein Mart seeks extension to file bankruptcy reorganization plan
Stein Mart Inc. filed a motion in bankruptcy court Dec. 1 asking for more time to file its Chapter 11 reorganization plan. The Jacksonville-based fashion retailer filed for Chapter 11 bankruptcy on Aug. 12 in U.S. Bankruptcy Court for the Middle District of Florida, Jacksonville Division. After filing the petition, Stein Mart closed its 281 stores and shut down most of its operations but it still needs to file a plan to pay off creditors. More from the Jacksonville Daily Record.
Restaurant group to launch new seafood concept in early 2021
In early 2021, Gecko’s Hospitality Group Founders Mike Gowan and Mike Quillen will open a new contemporary restaurant concept called Tripletail Seafood & Spirits. Gecko’s Hospitality Group is locally owned and operated. It employs over 600 Floridians. The group includes Gecko’s Grill & Pub, Dry Dock Waterfront Grill, Dockside Waterfront Grill and Red Barn Bar. More from the Business Observer.
Florida home insurance premiums set to rise amid hurricanes, lawsuits
Homeowners in Florida should be prepared to face higher property insurance rates next year, fueled by busy lawyers and record-setting hurricane seasons. Some insurance companies have asked the Florida Office of Insurance Regulation for increases of more than 30% in the coming year. While such skyrocketing costs were often felt in coastal cities, the insurance industry contends rising legal costs are spurring premium increases across the state. More from the Orlando Sentinel.
Sports Business
Orange Bowl, national championship set to spotlight Miami
Major sporting events from March Madness to the Summer Olympics in Tokyo were called off this year as Covid raged, but in January some of ESPN’s biggest properties will return to the big screen and place a major spotlight on Miami. On Jan. 2 and 11, respectively, the annual Capital One Orange Bowl and College Football National Championship will kick off at a reduced-capacity Hard Rock Stadium, just ten months after Super Bowl LIV brought in $571 million to the county.
» More from Miami Today.
Industry Trend
In Florida and elsewhere, Black-owned funeral homes adjust for coronavirus, serve communities
Only about 1,500 independent Black-owned funeral homes remain across the country with conglomerates buying up many mom-and-pops. Not long ago, there were nearly twice that number. In in Florida, the tradition of these businesses remaining independent has held strong.
» Read more from the Tampa Bay Times.
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