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The Limieux Report…8/18/08

THE LIMIEUX REPORT….8/18/08…back from hiatus…

www.thelimieuxreport.com

Topic 1…The Removal of the Tax question…Amendment 5…for the Nov. ballot….previous post….

http://miamiherald.typepad.com/nakedpolitics/2008/08/amendment-5-kno.html

http://www.sun-sentinel.com/news/local/florida/sfl-0819taxswap,0,4270462.story

Lemieux Bottom Line…

“On Friday, the state filed an appeal of the trial court’s decision. Governor Crist expressed support for the appeal in order to leave the decision to cut property taxes for homes and businesses to the people.”

Topic 2….Revenue Reductions…2008-09…State Budget took effect last month…and the economists predicted another decline…where to make up for the shortfall?…

http://hosted.ap.org/dynamic/stories/F/FL_REVENUE_ESTIMATE_FLOL-?SITE=FLTAM&SECTION=STATE&TEMPLATE=DEFAULT&CTIME=2008-08-15-18-54-30

Gov. Crist has 3 sources available…

1….1 billion from the Lawton Chiles Endowment…from the tobacco settlement….

2….1/2 of the 1.4 billion in the Budget Stabilization Fund…

3….seeking authorization to spend all or part of the “cushion” provided in this years budget….

OUCH!..

Limieux Bottom Line….

“The burst of the housing bubble combined with rising fuel and food prices is casting a shadow over the Sunshine State. As reported in last week’s LeMieux Report, recent improvements in the dollar, the stock market, and the decline in oil prices holds out some promise that the national economy is starting to recover Whether Florida has seen the worst of it remains to be seen.”

Topic 3…”Who Really Elects The President”….

http://www.tallahassee.com/apps/pbcs.dll/article?AID=/20080816/BREAKINGNEWS/80816012

“By Florida law, it’s the 27 electors selected by the political party whose nominee wins the popular vote. That is, if party leaders select a slate of electors, have that list certified by the Secretary of State, and submit the slate to the Governor by September 1, 2008.

This weekend, at its summer quarterly board meeting, the executive committee of the Republican Party of Florida voted on and passed a slate of 27 electors. In an earlier attempt to pass its slate of electors, the Democrat Party failed to gain a quorum and now must review party rules to determine how and when another meeting can be called to re-visit the issue. With the Democratic Convention set to start next week in Denver, the time for the FDP to get its list formally approved, certified and submitted is wearing thin.

Bottom Line: This has been the most fascinating presidential election in a generation, evolving over the last two years from our state legislature first considering whether or not to move the Florida Primary forward to the less than 80-day final stretch ahead of us. I am honored to have been chosen to serve as both a delegate to the Republican national convention and as one of Florida’s 27 Republican electors. Look for updates and insights on this most amazing race in the weeks to come.”

Topic 4….Accelerate Florida….Crist wants to fast track construction….and has asked agencies to review and give status reports for what will aid in stimulating the economy and jobs in the state…

http://www.floridajobs.org/publications/news_rel/LMS%20Release%2008-15-08.html

http://www.floridajobs.org/publications/news_rel/Crist_AccelerateFlorida.html

Limieux Bottom Line….

“Now is the time to fund public works projects to keep Floridians employed, and keep our economy moving. K-12, community college and university construction, road, water and other infrastructure projects put Floridians to work, and therefore create wages that can be spent at Florida businesses. Lessening and removing barriers to get these projects going is the right thing to do.”

Topic 5…Allstate Battle with Florida concludes….previous Limieux posts under state politics category…after a fight due to documentation being held back from state regulators…Allstate was not allowed to do business….now all is forgiven with the company complying with not only that documentation…but agreeing to a reduction in rates…a $5 million dollar fine….forgiving a $175 million dollar loan and the signing up 100 thousand new insurers…over a 3 year period…

http://www.sun-sentinel.com/news/local/southflorida/sfl-flzallstate0816sbaug16,0,5577849.story

Limieux Bottom Line…

“This is a good resolution for Florida’s insurance market, and for Allstate’s policy holders. OIR was right to insist on a full inspection of Allstate’s records. Allstate was right to finally settle the matter, lower their rates and start writing again in Florida”

worth the time to get on board with Limieux…check out his “Things To Watch…”…column…no matter which political¬† party you are allgned with …..he is always an interesting read….


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