December 6, 2023

Wednesday's Afternoon Update

What you need to know about Florida today

| 11/15/2023

Florida condos see drastic increases in property insurance rates

Condo associations in Florida are experiencing drastic increases in their property insurance rates, and many are trying their best to manage. In Daytona Beach Shores, residents say many owners of Grand Coquina are on a fixed income, so the jump in monthly payments is causing a big dent in people's pockets. It's many people's dream to live on the beach, and while some have this dream as a reality, others have come to realize it might not be a sustainable lifestyle. "I couldn't live if it wasn't paid off," said Jill Richards, a Grand Coquina Condominium resident. "You know, a lot of millionaires live here, but not everybody is." More from WESH.

Ken Griffin sees Miami possibly replacing NYC as finance capital

Citadel founder Ken Griffin says his new home of Miami could eventually unseat New York as the world’s financial center. “We’ll see how big Wall Street South becomes,” Griffin said in an interview Tuesday with Bloomberg News at the Citadel Securities Global Macro Conference in Miami. “We’re on Brickell Bay, and maybe in 50 years it will be Brickell Bay North how we refer to New York in finance.” More from Bloomberg.

Chewy cuts 200 employees, report says

Online pet supply company Chewy plans to lay off roughly 200 employees, the Florida-based company confirmed to TechCrunch, as lingering recession fears prompt large companies to cut costs. Chewy’s layoffs affect more than 200 employees at its Plantation, Florida, headquarters, as well as other location across the U.S., TechCrunch reported, though the job cuts are estimated to affect only 1% of the PetSmart-owned company’s more than 19,000 employees, according to PitchBook. More from Forbes.

Positive Healthcare is leaving Florida, causing an insurance scramble for HIV/AIDs patients

PHP is a Medicare Advantage health plan that also includes prescription drug coverage for people who have HIV or AIDS. The plan is backed by the AIDS Healthcare Foundation and members get all of the regular Medicare benefits and access to specialists at no additional cost. Their prescription drugs, especially HIV medications, are also covered at a low cost. The insurer will continue to be operate in California, but a Positive Healthcare executive says Florida has become too costly to continue to offer its plan after changes to Medicare reimbursement. More from the South Florida Sun Sentinel.

St. Pete green-focused bank wins major certification, adds execs

St. Pete-based Climate First Bank, the world's first FDIC-insured community bank founded to combat the climate crisis, won a LEED platinum certification — the highest LEED rating — for its Winter Park branch, it announced in a news release Tuesday. The certification, given by the U.S. Green Building Council, stands for Leadership in Energy and Environmental Design. LEED certifications are given to buildings that are designed to curb energy and water usage. Climate First Bank also says it has expanded its executive team. More from the Business Observer.

Trend Mention

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How Manatee Agriculturist of the Year uses farming innovations to help feed Florida

 Tuesday, the Farm City Week committee recognized McClure as the 2023 Outstanding Agriculturist of the Year. McClure, 69, grows tomatoes in Duette and Immokalee, and was recognized for not only owning his farms but for working the fields himself and employing cutting-edge technology. He is the third generation of his family to be named Manatee County Agriculturist of the Year. .

» More from the Bradenton Herald.


Women in Leadership
Full Circle

 Madeline Pumariega came back to her alma mater, "the community's college," as its first woman president. "I am just that girl from Hialeah, I'm just one of you." After high school, she earned an associate’s degree at Miami Dade College. She wanted a bachelor’s degree, but between work and family expectations it took her another two colleges and until she was 25 to get one. “I have that connection with students,” Pumariega says. “I understand that life gets in the way. I understand that sometimes you think you’re going to go away but you come back for that summer and all of a sudden you need to work and that’s it.”

» Read more from Florida Trend.

Tags: Daily Pulse, Afternoon Update

In case you missed it:

Florida Trend Video Pick

Sea turtles experiencing 'cold stun' flown to rehab in Florida
Sea turtles experiencing 'cold stun' flown to rehab in Florida

Fifty-two endangered Kemp's ridley sea turtles are rehabbing at four facilities in Florida following a flight on a private plane from the New England Aquarium in Massachusetts.


Video Picks | Viewpoints@FloridaTrend

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