Tuesday's Daily Pulse
U.S. top court tosses Puerto Rico's debt restructuring law
The Supreme Court on Monday refused to revive a Puerto Rico debt-restructuring law, putting the U.S. territory at risk of a messy default unless Congress this month passes legislation to help the Caribbean island survive its crippling fiscal crisis. More from Reuters, the Hill, and Bloomberg.
Microsoft to buy LinkedIn for $26.2 billion in its largest deal
Microsoft Corp <MSFT.O> will buy LinkedIn Corp <LNKD.N> for $26.2 billion in its biggest-ever deal, marking CEO Satya Nadella's first big effort to breathe new life into the software giant's business-productivity tools. In business circles, LinkedIn is often the most popular social media outlet, moreso than Facebook or Twitter. Read the story about the purchase here and see also:
Who Said That?
"They're a good company, we'd love to have them there, but we can't wait any longer."
Say goodbye to outdoors giant Cabela's, but potentially hello to Dick's Sporting Goods and Field & Stream in the Cypress Creek Town Center in southern Pasco County.
Last fall, Nebraska-based Cabela's targeted the site along State Road 56, across the highway from the Tampa Premium Outlets mall, for its first Florida store. But property owner Sierra Properties confirmed Monday it had terminated the lease, saying Cabela's was not ready to proceed.
Read more at the Tampa Bay Times.
» Why Microsoft's $26 billion bet on LinkedIn is brilliant business
Gas prices steady despite rising oil
Oil prices are going up, but the increase hasn’t shown up at the gas pump. The national average for a gallon of regular gas rose 2 cents in the past week to $2.37, according to AAA. But the average dropped 1 cent to $2.33 in Florida. [Source: Florida Times-Union]
Citing Orlando shootings, Rubio opens door to Senate run
U.S. Sen. Marco Rubio has resisted growing pressure from GOP leaders in recent weeks to consider running for reelection, but that resistance seems to be waning and it could be a good sign for Republicans hoping to keep control of the chamber. More from the Sarasota Herald-Tribune, Reuters, and CNN.
See also:
» In Orlando, the 'Happiest Place' confronts a sad reality
» $1.6 million raised in 24 hours for Orlando victims
» FBI starts probe of Orlando shooter's phones, computers; hundreds of leads are pursued
» Owner of gun shop that sold weapons to Orlando shooter "vaguely" remembers him
» Thousands attend vigils around US for Orlando victims
» Security firm that hired Orlando shooter faces blow to image
» After Orlando carnage, what are clubs doing to boost security?
» Theme park employees show support after mass shooting in Orlando
» Florida's an easy state to buy a gun
Hotel industry expected to consolidate
The hotel industry will continue to consolidate as operators seek to drive efficiencies and capture more customers, said Jon Gray, global head of real estate for Blackstone Group LP, the largest shareholder in Hilton Worldwide Holdings Inc. [Source: Bloomberg]
› Tampa's Merlin Law Group expands nationwide footprint [Tampa Bay Times]
William F. "Chip" Merlin, a Tampa lawyer dubbed the "master of disaster" for his niche practice of representing insurance claims for natural disaster victims, is expanding his domain.
› Will Airbnb divulge mysterious owners to Keys tax collector? [Keys Info Net]
Airbnb, a major online vacation-rental site, offers more than 300 Florida Keys listings that include bedrooms, cabins and docked boats. What Airbnb will not offer Monroe County is information on its client "hosts" — property owners who advertise and book vacation rentals in the Keys, county officials say.
› Loan growth at Florida credit unions outpaces nation [South Florida Business Journal]
Sunshine State credit unions had a strong showing in the first quarter of the year, reporting 6.7 percent median loan growth compared to the same time last year. That’s significantly higher than the 4.5 percent in loan growth reported by credit unions across the nation.
› Vertex laying off 100 workers in Sarasota [Sarasota Herald-Tribune]
Tax software company Vertex Inc. will lay off 100 workers here by year end, phasing out the line of business it acquired from the defunct Arthur Andersen.
Go to page 2 for more stories ...
› Mednax making $400 million acquisition to expand medical billing business [South Florida Sun-Sentinel]
Sunrise-based national physicians' network Mednax is expanding its medical billing operation through a $400 million acquisition, the company said Monday. The acquisition of Cardon Outreach of The Woodlands, Texas, will be made through Mednax subsidiary MedData, which Mednax acquired in 2014.
› Florida laws give big tax breaks for Embraer project [Florida Today]
Both Embraer and government officials were satisfied all sides were getting a good deal when the Brazilian jet maker opened a 63,500-square-foot Embraer Engineering and Technology Center USA at Orlando Melbourne International Airport two years ago.
› Abandoned Florida dome home could become new reef [WTSP]
An abandoned coastal home whose land has been claimed by the sea may find new life as an artificial reef. The dome home, built by Bob and Margaret Lee starting in 1980, is a local landmark and an otherworldly tourist attraction to those who can get near it, generally by boat.
› A Tampa employment law attorney explains changes coming to overtime regulations [Tampa Bay Times]
Change is coming for an estimated 330,000 Florida workers who earn between $23,660 and $47,476 a year. New Department of Labor regulations announced last month double the pay threshold for overtime protection, effective Dec. 1.