Friday's Afternoon Pulse

Economy's Freefall Is Over But No Quick Recovery

CENSUS Don't forget: You may have received a duplicate census packet from the government, even if you already sent it in. If you have not received a census form, you can pick up a "Be Counted" questionnaire at a local census assistance center. The centers are open until April 19. MUST-KNOW FLORIDIAN Scientist trying to cure vision disorders. » Who is he? BLUESY WEEKEND Friday-Sunday, April 9-11, 2010 is a great time to be in Florida if you are a blues fan. There are two major festivals to choose from: Tampa Bay Blues Festival St. Petersburg tampabaybluesfest.com 727-502-5000 George's Music Springing the Blues Festival Jacksonville Beach springingtheblues.com 904-249-3972

The good news for Florida's economy: The freefall is over. The bad news: Don't expect a quick rebound. Wells Fargo economist Mark Vitner compares the Florida economy to a pedestrian who falls into an open manhole. The recession is over when the hapless victim hits bottom. But it'll take a while to climb out of the hole, a long climb Florida's economy is just now starting, Vitner said this week during a roundtable in West Palm Beach hosted by the Economic Development Research Institute. University of Central Florida economist Sean Snaith this morning offers a similar outlook. "We still have the plague of the housing bust, stagnant population growth and the labor market to remind us of this recession," Snaith says. "The recession may have passed over, but for now what we have in its place is an unleavened recovery." [Source: Post]

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Does Florida Deserve an 'F' for Home Insurance?

The Heartland Institute, a conservative, free-market think tank, gave only two states an "F" for their property insurance environment: Florida and New York. With just over two weeks left in the legislative session, lawmakers joined representatives of Heartland, Associated Industries of Florida, Florida Wildlife Federation and United Way and others at the state Capitol on Thursday to advocate for legislative measures to bolster the state’s property insurance market by raising rates and lowering claims costs. They cited Heartland's assessment that Florida regulators are too aggressive in keeping trying to keep rates from rising. [Source: Sun Sentinel]

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Discovery Astronauts Complete Successful First Spacewalk

The first of three Discovery spacewalks outside the International Space Station is in the books, having completed all its objectives. Mission specialists Rick Mastracchio and Clay Anderson switched their spacesuits to battery power at 7:58 a.m. EDT inside the Quest airlock, completing a six-hour, 27-minute excursion. Their primary task was to begin a three-step process to replace ammonia coolant tanks stored on the station's right side.
[Source: Florida Today]

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Supreme Court Justice John Paul Stevens Retiring

Supreme Court Justice John Paul Stevens, the court's oldest member and leader of its liberal bloc, is retiring. President Barack Obama now has his second high court opening to fill. Stevens said Friday he will step down when the court finishes its work for the summer in late June or early July. The announcement, which came 11 days before his 90th birthday, had been hinted at for months. [Source: Miami Herald / AP]

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Florida House Panel OKs School Prayer Measures

At the urging of a recent Pace High School class president, and over the warnings of civil libertarians, a House panel this morning unanimously approved a watered-down school-prayer measure that sponsors hope will protect religious freedom. "This bill, now, is a protection of school free speech," said co-sponsor Greg Evers, R-Baker. The bill, HB 31, is a response to a 2008 lawsuit by the American Civil Liberties Union against Santa Rosa schools. The ACLU challenged teacher-led Bible study and administration-promoted prayer. [Source: Pensacola News Journal]