florida

Spirit Airlines Files for $300 Million IPO

Spirit Airlines filed plans for an IPO worth as much as $300 million. The airline, which offers low-cost travel to and from South Florida, the Caribbean and Latin America, would retain about half of the proceeds of the IPO and use most of the rest to pay down debt, The Wall Street Journal said.

10 Worst Places to Live

You don't need the U.S. Misery Index to tell you that things are bad in the U.S. Unemployment is near or at all-time highs in many parts of the...

BP Oil Spill Could Lower Gulf Coast Home Prices By $56,000

The decline in property values could total $3 billion over five years, Bloomberg reported, citing real estate data company CoreLogic. The BP oil spill could wipe out the premium that buyers normally pay to be near the ocean. The total losses along the Gulf coast could total $3 billion over five years, Bloomberg reported, citing real estate data company CoreLogic Inc. The spill could wipe out the premium that buyers normally pay to be near the ocean.

Winn-Dixie to Close 30 Stores, Reduce Staff in Cost-Cutting Plan

Winn-Dixie Stores (WINN) will close 30 stores and reduce staff as part of a multi-million dollar cost-cutting plan. The company plans to eliminate 120 positions on top of those directly related to the store closure, Winn-Dixie said in a statement. The annualized savings will be in the range of $12 million to $17million and begin to be realized after the end of the first quarter of fiscal 2011.

Distressed Florida Banks Ask For Break From Capital-Raising

Florida banks are asking federal regulators for a break from government-ordered capital raising as they struggle with the impact of the real estate bust and the BP oil spill. Florida%u2019s top banking lobbyist sent a letter to the Federal Deposit Insurance Corp. Chairman Shelia Bair and Federal Reserve Chairman Ben Bernanke, asking that all local banks get a 12-month reprieve from higher capital requirements, loan appraisals and new regulatory sanctions, the Wall Street Journal reported.

NASA's Main Space Contractor to Lay Off 15% of Workforce

NASA%u2019s main space contractor is laying off 15 percent of its shuttle-related workers, as reductions in the space program bite. United Space Alliance, which handles the day-to-day management of the U.S. space shuttle fleet, will lay off workers in Florida, Alabama and Texas, effective October 1, the company said in a statement. The bulk of the cuts will be concentrated in Florida.

Gulf Coast Tourism Spots Ask BP for $55 Million Grant

A consortium of Gulf Coast tourist destinations has requested a $55 million grant from BP to fund a marketing campaign aimed at luring vacationers back. While the group hopes to entice tourists, it will also need to be honest about the spill's impact on their beaches.

Legal Briefing: In Ohio, You're Speeding if the Cop Says So

Ohio's Supreme Court says its state's cops don't need radar to pull speeders over -- they just need to believe the drivers are speeding. But giving police that authority invites abuses, so two Ohio legislators are trying to pass a law that overturns the decision.

Good News, Bad News on Foreclosures

The first-quarter foreclosure report had good news for the unluckiest, and bad news for almost everyone else. In 14 of the metropolitan areas hardest hit by mortgage defaults, foreclosures declined from 2009. But across the nation, 77% of cities saw foreclosures rise.

Why 5-Year-Olds Will Love Movies Made in Florida

Florida's state legislature is preparing to pass a "family-friendly" bill that would deny tax credits to movie and TV productions lacking "family-friendly" themes -- defined as material suitable for a five-year-old.