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WEDNESDAY, JULY 23, 2008
21 YEARS AGO ...
October 1987
When Florida's constitution was written, the state simply needed more people than it did money. Things have changed but politicians still won't touch an income tax idea.
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TAMPA:
Spain-Based Solar Firm Coming Here, Crist Announces
Gov. Charlie Crist's trip to Madrid has borne fruit, at least in writing. On the last of his 12-day European trade mission, Crist toured Spain's largest solar power plants and announced the manufacturer, Renovalia, has signed a "non-binding" agreement with Seminole Electric in Tampa to build a thermoelectric plant and sell the electricity to the Florida municipal utility company.
No details were released about the size and location of the plant and, based on the statements from the officers involved, and the emphasis that the agreement is non-binding, the idea is still on the drawing board. Renewable energy experts lauded the move by the governor to seek out renewable energy but emphasized that for Florida to reach the success in solar power that European countries such as Germany and Spain have seen, the state needs to open the door to independent companies, and even homeowners, to be able to generate solar power and sell it back to the traditional utilities.
[Source: Miami Herald]
More on solar power from Florida Trend:
ORLANDO:
'A Golden Opportunity' for Government-Subsidized Housing
With hundreds of vacant homes and condos in the Orlando area -- many of them in foreclosure, with banks looking to unload them for less than $100,000 -- some experts say the answer to the region's seemingly intractable affordable-housing crisis is staring us in the face.
"This is a golden opportunity" for government-subsidized housing programs to lock in deals from the private sector for badly needed residential units, said Robert E. Smith, president of Smith Equities Real Estate Investment Advisors of Orlando.
As soaring energy prices push up the cost of construction, the older homes and apartment-to-condo conversions caught in the housing slump cannot be built for anything near their current asking prices. And Orlando and Tampa have more vacant houses and condos than any other major city in the country.
Another advantage offered by these relatively inexpensive houses and condos: They are not concentrated in one spot, so the usual problem of how to integrate subsidized housing into the community is not an issue, as it is with most new construction.
[Source: Sentinel]
CLEWISTON:
U.S. Sugar Employees Sue for Better Deal
After Butch Wilson sold his 700 shares in United States Sugar Corp. at the time of his October layoff, the computer specialist counted himself lucky to have exited before the stock sank 20% lower.
But the recent news that U. S. Sugar plans to sell its assets to Florida water managers at a price that would have given him a $150 premium on each share or $350 per share, left him wanting to turn back time. ''If we had all known, we would have left the stock in the company,'' Wilson said.
On the heels of the June 24 announcement of U. S. Sugar's potential sale for $1.75 billion, three new class-action lawsuits have been filed in U. S. District Court in Miami claiming the sugar and citrus producer cheated its employee shareholders out of millions of dollars in retirement savings tied to company stock.
[Source: Miami Herald]
TALLAHASSEE:
State Called Secretive Over Graduation Rate
A new study commends -- and criticizes -- a method Florida has been using to claim it has a better high school graduation rate than shown by national statistics, which rank the state near the bottom.
The LeRoy Collins Institute, a think tank at Florida State University, sponsored the study that concluded Florida is too secretive about its method and the data it uses.
''Florida's graduation rate measure is both promising and suspicious,'' wrote the report's authors. The Florida Department of Education reported 72.4% of students graduated within four years in 2006-07. However, the most recent comparison by Education Week magazine for 2004-05 is a rate of 60.1%. The state figure for that year was 71.9%. What's the accurate number? [Source: AP]
ALSO AROUND FLORIDA:
›Palm Beach County OKs $87 Million for Max Planck [Palm Beach Post]
The Palm Beach County Commission Tuesday approved a plan to give the Max Planck Society of Germany almost $87 million to set up an institute near Scripps Florida in Jupiter.
Munich, Germany-based Max Planck will build a 100,000-square-foot bio-imaging facility just west of Scripps.
›Pharmed Owners Face Fraud Charge [Miami Herald]
Carlos and Jorge de Céspedes, who started with nothing and built up one of the largest Hispanic-owned businesses in the country, were charged Tuesday with healthcare-related wire fraud and income tax evasion.
›VIDEO: Florida Makes the Daily Show, Again [St. Petersburg Times]
"The Daily Show with Jon Stewart" heads to South Florida to see if Barack Obama can win the Jewish vote. Along the way he meets state Sen. Jeremy Ring, D-Margate, and some colorful retirees.
›Judge Delays Key Ruling in Marlins Stadium Suit [Miami Herald]
Miami-Dade Circuit Court Judge Jeri Beth Cohen on Tuesday tossed a late, surprising wrinkle into Norman Braman's attempt to derail a Florida Marlins stadium, declaring she won't rule on a significant count for more than a month.
›Is Orange County En Route to New Gas Tax? [Orlando Sentinel]
Commissioner Linda Stewart on Tuesday proposed putting the penny-at-the-pump plan to voters in a referendum Nov. 4, and a majority of county leaders said they are open to or support the idea. A formal vote could come as early as today.
›Court Ruling Allows Putnam County Coal Plant [St. Petersburg Times]
A court paved the way last week for Seminole Electric to move forward with long-delayed plans to build a large coal plant.
›Fort Lauderdale's St. Regis to Become Ritz-Carlton [Sun-Sentinel]
Ritz-Carlton Hotel Co. LLC announced an agreement with hotel ownership group Castillo Grand LLC to assume management of the nearly 200-room hotel effective Aug. 11, becoming the tenth Ritz-Carlton location in Florida and the first in Broward County.
›FAU Draws Near on Stadium-Naming Deal [Palm Beach Post]
FAU Athletic Director Craig Angelos said Tuesday the school has been working on the arrangement with a financial institution for six months. Angelos declined to name the institution, fearing it could disrupt the talks.
From Trend: Florida Atlantic Football, the Next USF?
›Bluegreen to Sell Itself for $500 Million [Palm Beach Post]
Bluegreen Corp. (NYSE: BXG), which sells home sites and markets timeshare resorts, has agreed to sell itself to Diamond Resorts International of Las Vegas for $500 million, more than double its market value.
›Cost of Propping Up Fannie Mae, Freddie Mac: $25B [AP]
A federal rescue of Fannie Mae and Freddie Mac could cost taxpayers $25 billion, congressional budget experts said, as the House scheduled a Wednesday vote on legislation that would tap the mortgage giants' profits to cover any losses from saving 400,000 homeowners from foreclosure.
›Lou Pearlman Heads to Federal Prison [Orlando Sentinel]
Former music mogul Lou Pearlman was moved out of the Orange County Jail early Tuesday so he could begin serving his 25-year federal prison term.
›Demand Is Intensifying for Mortgage Chief to Resign [Tampa Tribune]
A second group called for Florida's top mortgage regulator to step down Tuesday, a day after the state's chief financial officer asked for his resignation.
Their demands followed a newspaper investigation that revealed his office approved licenses for thousands of mortgage brokers with criminal backgrounds. Some went on to commit nearly $85 million in mortgage fraud.
›Harris Corp. Wins Navy Contract Worth $9.1 Million [TC Palm]
The contract brings the total value of the Tactical Airborne Moving Map Capability (TAMMAC) program to Harris to more than $100 million since 1997.
Also: Pinellas finds $2-million to lure defense company
›Column: Travels With Charlie: Green But Misguided [Miami Herald]
Myriam Marquez: Gov. Charlie Crist vowed that Florida would invest in ''reforestation projects in the southeastern United States to offset the carbon footprint'' from his jet-setting ways.
Talk about hot air.
›Tourism Chief: Lightning Owners Want Tampa Hotel [St. Petersburg Times]
New owners of the Tampa Bay Lightning want to build a hotel in downtown Tampa, says the boss of Hillsborough County's tourism marketing agency.
›Hurricane Dolly Bears Down on Texas-Mexico Coast [Palm Beach Post]
The Category 1 hurricane was expected to dump up to 15 inches of rain, threatening flooding that could breach levees in the heavily populated Rio Grande valley.
›Wexler's Delray Residency Disputed By Opponent [Palm Beach Post]
It's unlikely U.S. Rep. Robert Wexler curls up on his mother-in-law's sofa, pundits on the Fox News program The O'Reilly Factor said Tuesday night.
Wexler's challenger has accused the six-term congressman of playing a residency shell game, saying Wexler, D-Delray Beach, uses his mother-in-law's address in Delray Beach while flagrantly making his home in a Maryland suburb.
›Firm Boosts Stake in Ruth's Hospitality [Orlando Sentinel]
AAD Capital Management, a California-based financial management limited partnership, purchased 600,000 shares of Ruth's Hospitality Group, owner of the Ruth's Chris Steak House chain, for $3.53 a share last week.
›Panel to Focus on Jacksonville Port and Aviation [Florida Times-Union]
A newly created Jacksonville City Council committee will focus on ensuring proper plans are in place ahead of new projects at Jaxport and Cecil Field.
›Crist, Others Want to 'DROP' Double-Dipping [AP]
It's an offer many private sector workers would envy - briefly retire and receive thousands of dollars in a lump sum payment. Then go back to your old job and collect both a full salary and pension.
More than 8,000 Florida state employees are already taking advantage of a 10-year-old program, returning to jobs after cashing out of the retirement system and receiving a monthly pension check as well.
›Rock Climbing Study May Aid Amputees [St. Petersburg Times]
It has to be a question that isn't asked often: Would the leg work better with the foot turned backward? In an unusual experiment that University of South Florida scientists conducted Tuesday, that really was one of the choices they considered. Scientists evaluated how well different types of prosthetic limbs work for rock climbing by monitoring the efforts of a top athlete using various prosthetics.
›Column: Rental Bans Hurt Struggling Condo Owners [Sun-Sentinel]
Joe Kollin: Now, if you buy a unit when rentals are permitted and the association later bans them, you can continue renting.
›Royal Caribbean Shares Sail Up 18% [Miami Herald]
Shares of Royal Caribbean soared 18% to close at $26.74 Tuesday, after company executives detailed plans to cut 400 shore-side jobs and reduce operating expenses by $125 million.
The cuts at Royal Caribbean, the second-largest cruise operator, are aimed at coping with skyrocketing fuel prices. Despite the spike, the company's share price is down 37% so far this year.
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