One thing in common in 2012 presidential and 2014 Gov. races: Rough Fla. economy

Florida’s unemployment rate probably won’t change much between now and the end of the year, and the jobs picture is set to remain bleak through 2016, a team of state economists said Monday.

With a troubled real estate market and trouble brewing in Europe, the state economy faces a prolonged uphill climb, according to the Economic Estimating Conference, a group of state labor experts.

The group’s long-term predictions about the economy have potential repercussions for the both the presidential election in November and the 2014 race for governor.

As President Barack Obama and Republican presidential hopeful Mitt Romney vie for Florida’s 29 electoral votes, they will likely be doing so at a time when the state’s employment numbers remain stagnant. When Gov. Rick Scott runs for reelection in 2014, Florida will likely be suffering from high joblessness, with a rate near 8 percent.

Even if job creation accelerates in the coming months, that might not translate into declining unemployment right away, since the current rate has been skewed by large numbers of people leaving the labor market in recent months, the economists said.

“At some point, when the economy starts getting better, you’re going to see those folks coming back into the labor force, and begin actively looking for a job again,” said Amy Baker, head of the state Legislature’s Office of Economic and Demographic Research. “You could see that put a little upward pressure at least to flatten out, a little bit, the unemployment rate.”

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--@ToluseO

 

 

Gov. Scott to Congress: Find out how much Libor scandal has cost Floridians

Gov. Rick Scott has fired off a letter to Florida’s representatives in Congress, asking them to turn up the heat on an investigation into an international banking scandal he says has impacted Floridians.

Last month, Barclays Capital was fined more than $450 million over allegations that it fraudulently manipulated the London Interbank Offered Rate, or Libor. There are signs that more banks could be involved in the scandal over Libor, which sets interbank lending rates in ways that trickle down to impact nearly every consumer’s cost of living.

“The potential impacts on the income, retirement savings and costs of living for so many Floridians deserve immediate attention to ensure that they have not and  will not suffer unfair consequences as a result of this severe breach of trust,” Scott wrote in a letter to Florida's congressional delegation.

Criminally-charged former aide accuses Jennifer Carroll of "sexual escapade," illegal taping

The Associated Press is reporting that a former aide to Lt. Gov. Jennifer Carroll has accused her former boss of having an improper relationship with an assistant and secretly taping several conversations.

In an explosive press release last month, Carletha Cole--a former aide who is facing criminal charges for allegedly secretly taping a conversation with Carroll's chief of staff--accused Carroll of a number of wrongdoings, including "misuse of office for sexual escapades."

Carroll has flatly denied the allegations.

The AP has the story: 

TALLAHASSEE, Fla. -- An ongoing criminal case against a former top aide to Florida Lt. Gov. Jennifer Carroll is transforming into a swirl of allegations about improper relationships, widespread illegal taping and other incidents inside Carroll's office.

The allegations, which Carroll denies, were included in a court filing made late last week by the attorney representing Carletha Cole, who was arrested last October on charges that she gave an illegally taped conversation with another Carroll aide to a newspaper reporter.

The court filing was made in response to a push by prosecutors to keep confidential information that Cole's attorneys wanted to use as possible evidence in the case.

In the filing, Cole contends that she witnessed Carroll and a top aide in a "compromising position" inside Carroll's office, that Carroll's chief of staff secretly recorded conversations routinely at the direction of those working for Gov. Rick Scott, and that the trash can at Cole's desk might have been deliberately set ablaze following an argument between her and the aide.

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@ToluseO

 

Citizens Insurance boardmembers vote to replace interim president and Scott-ally Tom Grady

Tom Grady, current interim president of Citizens Property Insurance and a neighbor and political ally of Gov. Rick Scott, will not become the company’s permanent president.

On Wednesday morning, Citizens’ presidential search committee forwarded two names to the full board for consideration as president. Grady, who has been interim president since March, was not included.

According to information presented by a national search firm and the committee, the top two candidates for the job were Barry Gilway, CEO of Mattei Insurance Services, and Glenn Pomeroy, CEO of the California Earthquake Authority.

UPDATE: Gilway was selected to be Citizens' new president, in a unanimous vote.

Board chairman Carlos Lacasa asked the search committee to forward those two names to the full board, which will interview the finalists and select a president on Wednesday.

John Wortman, a board member appointed by Scott, made a motion to add Grady’s name to the list of finalists.

Lacasa objected, and said he’d be open to allowing the search firm to list the rankings of all five candidates to see where Grady landed.

Siplin calls Stand Your Ground "negligently written," weighs in on abused woman case

Florida's Stand Your Ground law continues to stand its ground in the national spotlight, after an abused woman was sentenced to 20 years for firing a shot at her abusive husband.

Now, a state Senator who sits on a task force that is currently reviewing the law, is using the case of the woman, Marissa Alexander, to criticize the law.

Sen. Gary Siplin, D-Orlando, released a statement  this week saying that he was "deeply saddened" by Alexander's sentencing, and that the Stand Your Ground law was meant to protect people like her. Siplin, who voted for the law in 2005, now says that Alexander's case and the case of 17-year-old Trayvon Martin offer proof that the law is being applied inconsistently. No one was physically injured in the Alexander case.

Michigan IT company takes Gov. Scott up on 'Move to Florida' proposal

Gov. Rick Scott has been telling CEOs across the country to leave their high-cost states and relocate to Florida, where the business taxes are low and the job creators are cherished.

On Friday, Scott announced that a Michigan-based IT company has taken him up on the offer.

Blueware Inc., a tech company that has made inroads in the healthcare industry, will move from Michigan to Melbourne in Brevard County. Over four years, the relocation is expected to bring 190 jobs to the state.

Blueware spent two years trying to decide where to move, and its selection of Florida was likely influenced by a sweet incentives package of cash grants and tax breaks. The governor’s office did not include the details on how much Blueware was offered as an enticement, but similar deals have included multi-million dollar incentives packages.

Tough times for Florida economy, despite high ranking by CEOs

Florida now ranks as the 2^nd-best state for business, according to a survey conducted by Chief Executive magazine. Chief executives gave Florida high standards for its business-friendly tax policies, regulatory structure and workforce quality. Texas ranked No. 1.

Unfortunately, Florida does not come anywhere near 2^nd-best in several categories that actually track real economic progress statistically.

The Florida Legislature's Office of Economic and Demographic Research released an updated report this week titled Florida: An Economic Overview. The report used real economic data, often ranking Florida with other states, usually near the bottom of the pack. Here are some takeaways:

Environmental group ad warns of 'summer slime'

Lobbyists, politicians and industrial polluters are to blame for toxic algae blooms in the state's waterways, according to a television ad launched today by the Florida Water Coalition.

The ad will play across Florida markets during the "summer slime" season, according to a press release. It warns that polluted waterways deter tourists, drag on the economy and threaten public safety.

Fla. notches $40 million insurance settlement with MetLife

The state of Florida, along with several other states, has reached a $40 million settlement with a group of MetLife insurance companies over allegations of life insurance improprieties. All of that money is being used to pay for the states' investigation, but consumers may receive more than $500 million in other payments. 

Consumers may benefit from new business practices that MetLife has agreed to use moving forward.

MetLife had apparently been using the Social Security Administration’s Death Master File to check to see if a policyholder has died only in cases where such a death would be beneficial to the insurance company. For example, MetLife allegedly used this Master File to stop annuity payments to deceased clients, but did not use it to issue life insurance payments to beneficiaries of the insured. 

Gov. Scott names 17-member task force to review Stand Your Ground law

Gov. Rick Scott named 17 members of the state’s new Task Force on Citizen Safety and Protection, announcing that the group will begin looking at Florida’s controversial Stand Your Ground law in two weeks. The first meeting will be May 1.

The group includes four lawmakers—including the representative that sponsored Stand Your Ground in 2005 and one who says he helped write it—and several legal and law enforcement professionals.

“We have tapped a diverse and qualified group to carefully review our laws and our policies,” said Scott, standing next to Lt. Gov. Jennifer Carroll, who will chair the task force.

In addition to Rep. Dennis Baxley, R-Ocala, who sponsored the law, Sen. David Simmons, R-Maitland, Sen. Gary Siplin, D-Orlando and Rep. Jason Brodeur, R-Sanford, will serve on the task force.