business

The Sunshine Economy
11:13 am
Tue September 10, 2013

The Sunshine Economy: The Incredible Shrinking Florida Paycheck

Credit freedigitalphotos.net

Half of the paychecks of Floridians are smaller today than they were in 2004. Thanks to a wicked combination of fewer working hours and the financial erosion of inflation, the median hourly wage in Florida is $0.63 less than what it was eight years ago, according to a recent study by the Research Institute on Social and Economic Policy at Florida International University.

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Insurance
6:08 pm
Mon September 9, 2013

Citizens Approved For 6.3 Percent Hike On Homeowners

Credit Laura A. Ogden

Homeowners covered by Citizens Property Insurance Corp. will see an average rate increase of 6.3 percent next year.

The increase, approved Monday by the Office of Insurance Regulation, is down from a 7.9 percent hike requested on the combined personal-lines and coastal accounts. Citizens officials previously said a 7.9 percent increase wouldn't be enough to cover the projected costs for next year.

The increase doesn't include sinkhole coverage.

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The Sunshine Economy
12:08 pm
Mon September 9, 2013

The Sunshine Economy: Jobs

Credit Tom Hudson

Ian, Jay and Sal. That's them in the photo on the right. Each of them is an unemployment statistic with a story.

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Business
11:22 am
Mon September 9, 2013

How A Miniature Antenna Is Turning The TV Biz On A Dime

Credit Aereo

A TV antenna the size of a dime. That's it below, on the right. Long gone are the days of the RCA console television in your grandparent's (or great grandparent's) living room with two silver rods jutting out at all angles as you squint through the "snow" to catch a glimpse of Looney Tunes.

Thanks to high speed Internet connections and cloud computing, Aereo is disrupting the traditional TV and cable business like very few.

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Business
10:34 am
Mon September 9, 2013

Spirit Airlines Sees Business Take Off With Raunchy Ads

Spirit Airlines has gotten notice — and criticism — for its racy ads.
Courtesy of Spirit Airlines

Originally published on Tue September 10, 2013 5:22 pm

South Florida-based Spirit Airlines is known for being cheap. It boasts "ultralow" base fares and then charges for items such as carry-on luggage or printing out your boarding pass at the airport.

That thrift carries over to Spirit's advertising. Even compared with other low-cost airlines, Spirit spends almost nothing on ads. And yet the company makes a surprising splash with its campaigns. A visit to Spirit headquarters reveals the secrets of its marketing.

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The Sunshine Economy
6:00 am
Fri August 30, 2013

The Sunshine Economy: Luxury Retail, From Head To Toe To Stomach

Credit Tom Hudson

Jimmy Choo at Sawgrass Mills. Hermes in the Design District. Even Marky's Caviar in Miami Gardens. South Floridians are welcoming luxury retailers with open arms just like Britto's "Welcome" sculpture greets shoppers near Dadeland Station in the photo on the right.

Luxury retailing in South Florida is expanding beyond its traditional glitzy locations and stretching to include not just shoes and accessories, but also shoppers’ appetites.

RELATED: The Sunshine Economy: Retail

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The Sunshine Economy
6:00 am
Thu August 29, 2013

The Sunshine Economy: The Fight For Your Spending

Credit freedigitalphotos.net

Of course you shop online. You're a digital consumer. You're on the Internet right now. You are a savvy shopper, looking for the right product at the right price and you want it fast and easy. Point, click, buy.

But you're in the minority. The vast majority of retail sales across the nation take place at brick and mortar stores. While Americans spend about $1 trillion per quarter in the retail industry, only a nickel of every dollar is spent online. But in the fight between online and in-store retailing, online spending is growing faster, much faster.

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The Sunshine Economy
12:30 pm
Wed August 28, 2013

The Sunshine Economy: The High Price of Luxury In South Florida Retail

Credit Tom Hudson

One square foot is not a lot of space. You can fit a pair of shoes in one square foot. But, if you are a luxury retailer at Bal Harbour Shops in Bal Harbour, you sell $2,800 worth of merchandise per square every year. That's six times what the average shopping center generates in the same amount space.

RELATED: The Sunshine Economy: Retail

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The Sunshine Economy
11:59 am
Tue August 27, 2013

The Sunshine Economy: From Water Beds To Today

In the 1970’s it was water beds. In the 1980’s, Keith Koenig sold dinette sets. Now it’s couches and entertainment centers.

Koenig and his brother began what would become City Furniture in 1971. He has seen plenty of cycles in the South Florida economy, as well as how consumer tastes impact his business. Housing booms and housing busts. A growing population. And wicker. Koenig has a unique perspective at the intersection of two industries: real estate and retail. His outlook?  Very positive.

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Business
11:03 am
Fri August 23, 2013

Sawgrass Mills Mall: A Powerhouse Retail Property Expands

According to Sawgrass Mills Mall General Manager, Luanne Lenberg, the mall rents more Smart Cartes than Miami International Airport.
Credit Karen Rundlet

This week, Sawgrass Mills Mall announced that it will add the Jimmy Choo name to its lineup at the Colonnade Outlet Malls.

RELATED: The Sunshine Economy: Retail

Jimmy Choo is a new-to-market retailer.

Business reporter Karen Rundlet visits the mall to find the well documented "suitcase shoppers."

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Media
10:53 am
Tue August 6, 2013

Will 'The New York Times' Be Next To Be Sold?

The New York Times' front page on Tuesday.
NYTimes.com

Originally published on Tue August 6, 2013 10:26 am

After Monday's surprising news that Amazon.com founder Jeff Bezos is buying The Washington Post for $250 million — a deal that came just days after the Boston Globe was sold for $70 million to Boston Red Sox owner John Henry — a question naturally occurs:

Who's next?

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People
10:50 am
Tue August 6, 2013

Jeff Bezos: A Rocket Launched From Miami’s Palmetto High

This undated photo shows Jeff Bezos as a Palmetto Senior High student in Miam-Dadei.
Credit Yearkbook photo/ Palm Echo 1982

When Jeffrey Preston Bezos graduated from Miami Palmetto Senior High in 1982, he had big plans to change the world.

The valedictorian, National Merit Scholar and Silver Knight award winner for science told the Miami Herald he wanted to “build space hotels, amusement parks, yachts and colonies for two or three million people orbiting around the earth.”

Eventually, his grand plan included getting everybody off the blue planet and turning it into a big park of sorts.

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Energy
8:23 am
Tue August 6, 2013

Florida Power & Light Asks To Continue To Collect For Turkey Point Expansion

Steam partly obscures Tower 4 (right) at Florida Power & Light's Turkey Point nuclear plant in Homestead on April 11, 2013.
Credit Marsha Halper / Miami Herald Staff

Five years and more than $650 million into refurbishing and building nuclear reactors, Florida Power & Light officials told regulators Monday that it can’t guarantee what new reactors will cost consumers, when the reactors will deliver energy, or even if it will get a license to finish the job.

Despite the uncertainty, the state’s largest electric company asked regulators to allow it to continue to charge customers to pay for the prospective expansion of the Turkey Point plant on Biscayne Bay in south Miami-Dade County.

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The Sunshine Economy
1:15 pm
Mon August 5, 2013

Video: How A Miami Designer Fashions His Workforce

Designer Rene Ruiz (left) instructs workers on the finer points of dress making.
Credit Tom Hudson

Designing high fashion is an art. So is making those designs into dresses.

Designer Rene Ruiz does both from a low-slung building in Hialeah. His factory is tucked in with furniture makers and hurricane shutters installers. About 50 people work there making dresses for Ruiz's well-heeled clients in South Florida and for his dresses destined for Neiman Marcus stores.

RELATED: The Sunshine Economy: Fashion

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Business
2:19 pm
Fri July 26, 2013

Manufacturing Is At The Heart Of This Growing Broward Medical Business

Workers at New Wave Surgical are paid an hourly rate and offered a full-time employee benefits package. The company is relocating from Coral Springs to a larger facility in Pompano Beach.

New Wave Surgical, a Pompano Beach based company, didn't start out in the manufacturing business.

The founder and president, Ricardo Alexander Gomez, wanted to focus on design and sales of a medical device called D-HELP.

The product helps surgeons clean the lenses of tools used during laparascopic surgeries.

Revenues grew once Gomez and his staff were able to decrease costs of producing the device.

Gomez says revenue is up 1900%.

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