WEDNESDAY, DEC. 23, 2009
CAPE CANAVERAL:
Report: Shuttle Vital to Science at Station
NASA will have a tough time pursuing research projects at the International Space Station because of the scheduled retirement of the shuttle next year, government auditors reported Tuesday. "NASA faces several significant challenges that may impede efforts to maximize research utilization of the ISS," according to the 39-page Government Accountability Office report. The auditors' report, requested by Sen. Bill Nelson and Rep. Bart Gordon, notes that without the delivery of spare parts, supplies and other large items by the space shuttles, the station could end up in a crisis mode similar to the way it was operated during the hiatus in shuttle flights after the Columbia disaster. [Source: Florida Today]
Trend Editor Mark Howard:
STATEWIDE:
Florida’s Existing Home, Condo Sales Up Big in November
Florida’s existing home sales rose in November, marking 15 months that sales activity has increased in the year-to-year comparison, according to the latest housing data released by Florida Realtors. Existing home sales rose 61% last month with a total of 14,026 homes sold statewide. Statewide sales of existing condos increased 111% last month compared to November 2008’s sales figure. However, Florida’s median sales price for existing homes last month was $139,000; a year ago, it was $158,200 for a 12% decrease. [Source: Florida Realtors]
Regional roundup:
- Tampa Bay | South Florida | Sarasota/Bradenton | Northeast Florida | Daytona Beach area | Lee County | Naples area
GAINESVILLE:
Paying CEOs More Than Other CEOs Results in Stockholder Dividends, Says UF Study
Highly paid CEOs are actually a bonus to the profitability of their companies and offer greater dividends to stockholders, a new University of Florida study finds. With the dramatic rise in executive compensation rates beyond average workers’ wages over the past three decades, there has been a growing public outcry that CEOs are paid far too much for the services they provide, said Henry Tosi, a UF management professor. However, concluded Tosi, “CEOs who are paid better — above their market value — do better for the firm. So it would not seem to make sense for a firm to think about reducing CEO pay unless those effects are widespread because it may only hurt itself relative to other firms.” [Source:insure]
SOUTH FLORIDA:
Cautious Customers Shape Luxury Retail Market
While luxury retailers have started to see a boost in spending this holiday season, it's been from cautious customers. They are likely buying fewer items or looking for lower-priced gifts by their favorite designers. Even though the worst may be over, many luxury retailers are expected to end the year with double-digit revenue declines. An October survey by the Harrison Group and American Express Publishing found that holiday gift spending by the top 10% of U.S. households by income is expected to decline by 15%. [Source: Miami Herald]
Also:
ALSO AROUND FLORIDA:
› Lawmakers Announce Jobs Summit Leaders of major business groups — Associated Industries of Florida, the Florida Retail Federation, Chamber of Commerce and the National Federation of Independent Business — endorsed the call to focus on tax incentives and regulatory reductions that could help spur job growth. Representatives of organized labor and local governments will also be included in the Jan. 14-15 conference in Orlando.
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Miami Gives Watson Island Developer a Break on Back Rent
Flagstone Island Gardens developer Mehmet Bayraktar, who said he'd make good on $500,000 in overdue rent to the city of Miami by Tuesday, instead received a five-week reprieve.
› First Bank of Jacksonville Under FDIC Consent Order
First Bank of Jacksonville has entered into a consent order with the Federal Deposit Insurance Corp., requiring the small bank to raise additional capital and focus on getting rid of bad loans, according to a bank announcement.
› 'Sailing Museums' Dock in PensacolaA cannon blast Tuesday on Pensacola Bay echoed through downtown, announcing the arrival of two replica ships modeled after those used by Christopher Columbus. "I can't believe ships like that sailed here from Europe and survived months at sea," said Pensacolian Andrea Dove.
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FPL Shareholders Mobilized in Lobbying Group
There’s a new player in the debate over utility issues in Florida: The Utility Shareholders Association of Florida was created about a year ago with help and funding from FPL Group. Also: FPL waits to hear whether it can raise its rates by $1.4 billion
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Jim Greer: There Will Be No Vote on Rescinding Chairmanship
Setting the stage for a potential legal fight or at the very least a vote of confidence, Jim Greer has agreed to hold a special meeting -- but says that critics are barred from holding any vote on rescinding his chairmanship as they had planned.
› Performing-Arts Center Critics Demand Financing Details
An Orange County citizen watchdog group is questioning whether taxpayers can afford to build a $425 million performing-arts center in a recession-ravaged economy and pressed Orlando Mayor Buddy Dyer on Tuesday to provide more details on how the city plans to pay for it.
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Jacksonville Beach Ready to Build 11-Mile Natural Gas Line
After working a decade to bring natural gas to the area, the city is close to signing a contract with Tampa Electric Co. to manage and operate the system. But it's not close enough.
› Diaz-Balart Brothers Rescind Endorsement of Crist
In a phone interview Tuesday, Lincoln Diaz-Balart offered few details, saying only that Crist had "left us no alternative and he knows why."
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Early Completion of I-75 Means $15M Bonus for Contractors
Today, the new, third southbound lane of I-75 opens to traffic, following the new northbound lanes opening in November, nearly a year before the December 2010 scheduled completion date.
Go to page 2 for more stories ...
› Ruth's Hospitality Group Announces Steps to Reduce Debt
The Orlando-based company will sell $25 million of newly created stock to a private equity firm in New York. It also plans to commence a shareholder-rights offering with targeted gross proceeds of as much as $35 million in cash.
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Committee Calls for Blood Bank Changes
Blood banks need an infusion of transparency and competition, according to a Florida Senate committee.
commentary
› Punch-Drunk Charlie Crist Reels in Tax-Cut Bait
Scott Maxwell: Charlie is desperately searching for something — anything — that might lift his falling fortunes.
So he has reverted to the most Pavlovian of responses for the simple-minded pol: The tax-cut proposal.