Tom Hudson
Senior Economics Editor and Special CorrespondentTom Hudson is WLRN's Senior Economics Editor and Special Correspondent.
Hudson's extensive reporting on South Florida's economy has taken him from the waters of Florida Bay to the depths of the PortMiami tunnel (and countless offices and conference rooms). He has interviewed bartenders and bankers, caregivers and CEOs to report on the people behind economic statistics.
He began his business reporting career in March 2000, just weeks after the dot-com bubble burst. He has reported from the trading floors of the CME, Chicago Board Options Exchange, NASDAQ and New York Stock Exchange. He previously served as Vice President of News at WLRN when he created and hosted The Sunshine Economy for 10 years. He was managing editor and co-anchor of Nightly Business Report on PBS.
Hudson is married with two sons and advises every bicycle rider to always wear their helmet.
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Home and condo prices are climbing in Palm Beach County, but remain mixed in the rest of South Florida. Affordability continues to be challenging with just 14 homes for sale in Miami-Dade County for under $300,000. Any effect on buyer appetite from higher gas prices wouldn't show up until April or later.
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If the recent Silicon Valley Bank rescue was controversial, the Federal Reserve’s actions to stop a bank run in Havana 97 years ago seem scarcely believable. It is a once-confidential tale of millions of dollars in $5 and $10 bills sent barreling to Key West on Flagler’s Train to Paradise, before crossing the Florida Straits in a tense, liquor-soaked journey on a Cuban gunboat.
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Florida has one of the largest foreign-born populations in the U.S. For some, the fate of citizenship for their new children hangs in the balance of the Supreme Court’s decision on President Trump’s effort to change more than a century-long practice.
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Cheaper fares for rides between Brightline stations in South Florida helped boost ticket sales in February. The train’s longer distance service was able to charge more than a year ago and still attract more passengers. It needs more of that as it races to meet its debt obligations.
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The next president of the regional Federal Reserve Bank will be voting on interest rates next year. That’s just the highest profile task for the job that’s based in Atlanta but watches over the economy across parts of six states, including all of Florida.
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Citrus groves are shrinking from disease, disasters and real estate development. The orange harvest is in a 30-year decline. Growers are using anti-bacterial injections and screenhouses to fight citrus greening as they look to diversify. For the farmer running a family-owned operation, it also feels like the end of an era. “People like myself, I'm almost 60, we're retiring or dying, and that knowledge is being lost with us,” said owner Steve Crump.
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Condominium sales increased in February as prices and mortgage rates fell. $1 million-plus sales also buoyed the market before the war-induced uncertainty sent borrowing rates up.
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Broward County-based Spirit Airlines has a deal with most of its lenders to emerge from its second bankruptcy in less than a year. It pins its hopes on flying fewer planes to return to operating profitability in 2027.
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Drivers have experienced historic sticker shock as they've filled up their tanks since the U.S. and Israel began military action against Iran. Floridians have paid higher prices in the past, but rarely have experienced such sudden price hikes. The same goes for gas station owners.
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Brightline's ridership has been growing, but its financial health has been deteriorating as it has had a tough time raising fares. One credit ratings agency now expects it will have to restructure its outstanding debt sooner than expected just a few months ago.
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David Zambrana becomes the CEO of one of the largest public health systems in the country. He sees Jackson Health expanding its footprint well beyond its traditional hospital services.
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South Floridians are not paying record prices for gasoline, but the cost of a fill up has risen 25% in less than a month. That sharp jump may dent consumer spending and help send mortgage rates up.