WEDNESDAY, MARCH 10, 2010
TALLAHASSEE:
U.S. May Aid Florida Budget
As state economists confirmed the $3.2 billion shortfall that Florida is facing next year, a bill advanced in the U.S. Senate on Tuesday that could shrink Florida's budget gap by one-third. Tuesday's conference of top state economists produced a forecast for next fiscal year's revenue that more or less matched what they predicted in December. The state will enjoy a modest increase in revenue, which will fall about $3 billion short of what's needed to continue existing levels of basic state services and programs. "Overall, the adjustments to the forecast are indicative of an economy (that) is stabilizing," said Amy Baker, coordinator of the state Office of Economic and Demographic Research. Florida appears to have hit bottom after more than a year of economic free-fall, she said. Modest growth is expected until "full recovery begins in earnest in the spring of 2011." [Source: Tampa Tribune]
STATEWIDE:
List of 'Troubled' Florida Banks Grows to 47 | See the List
Forty-seven or 16.5% of banks based in Florida received a "zero" star -- the lowest quality rating -- by bank-rating service Bauer Financial for the quarter ended Dec. 31, 2009. These ratings are the latest available and depict a further deterioration of banks in the state as the recession wears on. See the list ... [Source: St. Petersburg Times]
- BB&T continues to integrate Colonial Bank into its fold
- Feds drop deadline on Bradenton's Horizon Bank
- Bank of America to deny debit card overdrafts
BROWARD COUNTY:
Road to Nowhere: Money Available for Road-Building Is Dropping
Gov. Charlie Crist recently took a shovel of dirt and hurled it on the ground to celebrate the start a massive $1.8 billion project to add reversible toll lanes to Interstate 595. Crist lauded the Broward County project because it would create “jobs for our fellow Floridians at a time when they need it the most.” Florida only got this construction project started because of a 35-year deal it inked with a consortium where the private contractor put up the money for the project now in exchange for a contract that guarantees a series of payments later this decade. But the I-595 project comes at the same time that the money actually available for Florida road projects is sinking. The latest $32.4 billion work plan drawn up by state transportation officials contains a $1.6 billion drop in spending on road and bridge work and other projects in the next five years. [Source: Florida Tribune]
GAINESVILLE:
New Institute Jumps on Germs
Florida's subtropical climate makes it vulnerable to exotic viruses, from West Nile to citrus greening. Eighty million tourists and vigorous global trade increase the odds of stowaways. UF's Emerging Pathogens Institute cross-pollinates the work of Florida scientists battling infectious diseases here and around the world. Read on ... [Source: Florida Trend]
ALSO AROUND FLORIDA:
›
Haiti Rebuilding Summit Under Way in Miami
A Miami summit on Haiti reconstruction brings together government agencies and private contractors looking to participate in an expected rebuilding bonanza.
› Rubio Leads Crist by 32 Points in Latest Poll
Raleigh, N.C.-based Public Policy Polling showed Rubio ahead of Crist statewide, 60-28 — a stealthy about-face in a contest for the GOP nomination where Crist enjoyed nearly the same double-digit lead last summer. Also: Rubio's campaign image belies history of $250M in pork requests
› Disney Ends ‘Give a Day’ Promotion
Disney said 1 million people had either volunteered or committed to volunteer just 10 weeks after it launched the “Give a Day, Get a Disney Day” campaign. The company said it subsequently closed registration for the promotion.
›
More Layoffs Likely at Broward Schools
With the district facing an $80 million to $100 million loss in state money next year, School Board members say they know they have to cut somewhere. And regardless of where cuts are made, they were told that people will likely lose jobs.
›
Blood-Bank Chairman Expected to Fight to Keep CEO
The chairman of Metro Orlando's main blood bank may urge the agency's board today to keep top executive Anne Chinoda, even though a recent survey found little or no backing for her in the community.
› New Site Simplifies Online Foreclosure Auctions in W. Palm Beach
Launched last month, pbchomeauctions.com compiles information on the hundreds of properties up for auction each week into a list that shows the property type as well as the square-footage and how many bedrooms and bathrooms the home has. From Trend: A New Home for Auctions
›
Jackson Health Leaders Warn of Insolvency Without County Loan
Jackson Health System is close to insolvency and facing the specter of having one of its major vendors, Johnson & Johnson, shut off supplies unless the company receives a $1 million payment this week.
› Loan Modification Terms Can Be Tough
Balloon payments can wreck the deal.
› Bonita Bay Members Plan to Buy Club After All
They don’t seem too interested in an offer floated by an outside buyer.
Tuesday was the last day for sign-ups for the new member-owned club in Bonita Bay, the developer’s oldest community in Bonita Springs. Sign-ups far exceeded expectations.
commentary
› Reform PSC Now
The PSC is rightly a reform target in Tallahassee after its chummy relations with Florida Power & Light were exposed in 2009. Specifically, lawmakers want to limit communications by PSC commissioners and their staffs with utility officials to on-the-record, open meetings. This is a much-needed fix that should sail through the Legislature.
Go to page 2 for more stories ...
› Is Florida's Public Pension Fund 'Going to Vegas'?
Florida’s pension system, the fourth-largest state retirement plan, has been debating how big to make its first hedge-fund investments as it tries to close a 7% benefit-payments deficit.
› Celebrity Resorts Files for Chapter 11 Bankruptcy Protection
The Orlando-based time-share company listed just two unsecured creditors.
›
Panelists Criticize Space Plan
President Barack Obama is in for a chilly reception when he visits the Space Coast next month if a community forum Tuesday on his locally unpopular NASA plan is any indication. Also: SpaceX Falcon 9 test cut off
› Miami's Frost to Head Generic Drugmaker
Phillip Frost, a Miami physician-entrepreneur, was chosen as chairman by generic drug giant Teva.
›
Orlando to Google: Pick Us!
Orlando hopes to be one of a few communities — no one knows how many — that Google will choose to test ultra-high-speed Internet. Google's "Fiber to the Home" experiment would deliver the Internet at speeds 100 times faster. From Trend: Orlando saving big on e-mail from Google