One of the hottest issues emerging in the statewide races coming up in 2010 appears to be travel on state aircraft. Florida Lt. Governor Jeff Kottkamp was the first to come under fire for what some deemed as “excessive” travel on state aircraft on the taxpayers dime. Kottkamp, a rumored candidate for Attorney General, has moved to put the accusations to rest by reimbursing the state and hiring a well-respected legal team to assist in fighting ethics complaints.
The issue has not stopped with Kottkamp; however. Attorney General Bill McCollum and CFO Alex Sink are now both facing ethics complaints over their own use of state aircraft. Today, the first attack ad of the political cycle emerged with a YouTube video targeted at Sink. The ad was produced by the 527 group “Don’t Bank on Sink”, which is headed up by Gainesville businessman Jay Navarrete. The ad appears below: Read the rest of this entry »
Filed under: Florida, Florida Politics, 527, Alex Sink, Bill McCollum, Don't Bank On Sink, Jay Navarrete, Jeff Kottkamp
Despite Charlie Crist’s very public embrace of Barack Obama and Obama’s federal stimulus plan, Florida ranks dead last in dollars received per person according to a study by the Palm Beach Post. Crist’s endorsement of the stimulus, which brought the Governor considerable heat from deficit hawks within his own party, gave the President a much-needed bipartisan boost as he sold the plan to the American public earlier this year. That involvement seems not to have paid off to many Floridians.
Florida TaxWatch’s Dominic Calabro placed the blame on Florida’s elected officials. In an interview with the Palm Beach Post, Calabro alleged that the low return per resident showed “how inept Florida’s government officials are.”
The Post questions the ability of the stimulus to improve Florida’s unemployment rate—something the President promised would be a result when he touted the stimulus in a Florida stop in February.
The low distribution has left many Floridians confused and left the President potentially vulnerable in a battleground state. Read the Post’s article in its entirety here.
Filed under: Florida, Florida Legislature, Florida Politics, Barack Obama, Charlie Crist, Dominic Calabro, Florida TaxWatch, Palm Beach Post, Stimulus
Tagging him “Hurricane Charlie,” the conservative Wall Street Journal slammed Florida Governor Charlie Crist this week. The newspaper cites Crist’s recent veto of property insurance reform as one of the major reasons Crist wants to get out of Tallahassee “before the next hurricane hits.” His veto, says the Journal, “all but guarantees a state disaster.”
The bill would have trimmed the cost of a state-run enterprise that insures homeowners against storm damage. The program has an $18 billion unfunded liability and has taxpayers on the line for tens of billions in property losses from the next major hurricane. The Republican legislature tried to reduce those future losses, but Mr. Crist sounded like Barney Frank rolling the dice on Fannie Mae in declaring there’s nothing to worry about.
By way of background, two years ago Mr. Crist gave a big gift to coastal property owners by converting the state of Florida into one of the world’s largest property insurers. The Citizens Property Insurance Corporation provides below market-rate insurance policies directly to homeowners. Meanwhile, the Florida Hurricane Catastrophe Fund (CAT) regulates how much private insurers can charge homeowners and requires companies to purchase low-cost reinsurance from the government. Mr. Crist didn’t invent these programs, but he vastly expanded their reach — to about one million policies today. He transformed Citizens from insurer of last to first resort.
Here’s the problem: This system isn’t even within a coastal mile of being actuarially sound. The state government acknowledges that in many high-storm risk areas the premiums are from 35% to 65% below what is needed to cover potential claims. That subsidy has made Mr. Crist popular with many coastal residents even as the state plays Russian roulette with the weather.
You can read the rest of the article here.
Filed under: Florida, Florida Politics, Charlie Crist, Citizens, Property Insurance, State Farm, Wall Street Journal
Despite a prior statement that he was “leaning towards” vetoing SB 2080, the controversial water resources legislation that would severely limit accountability in the water consumption permitting process, Charlie Crist backtracked today and signed SB 2080 into law. JaxPoliticsOnline.com had written about this legislation on more than one occasion and nearly every major newspaper in the state (as well as Jacksonville Mayor John Peyton) had called on the Governor to veto it. He had previously given every indication that he would. Until he quietly signed it today.
It’s a sad day for Florida’s aquifer and the St. Johns River.
Filed under: Florida, Florida Politics, Charlie Crist, JaxPoliticsOnline.com, John Peyton, SB 2080
With today the last day of fundraising for the 1st quarter reporting of the US Senate race, the Republican primary is starting to look interesting. Incumbent Governor Charlie Crist entered the race as a hands-down favorite, but former Florida Speaker Marco Rubio is beginning to make some headway.
According to a new Mason-Dixon poll released yesterday, Rubio’s support has surged among Republican voters. While Crist still leads the race by an impressive 51% to 23%, Rubio appears to be gaining ground. According to the poll, only 52% of GOP primary voters had heard of Rubio. But, among those who were familiar with the former Speaker, Rubio trails Crist by only 2 points—33% to 31%.
More details are available at the St. Pete Times.
Filed under: Florida, Florida Politics, Charlie Crist, Marco Rubio, Maxon-Dixon
The Cleveland Plain-Dealer has named US Rep Ginny Brown-Waite (R-Brooksville) as one of the members of the U.S. House Financial Services Committee who engaged in the trading of financial stocks as the bottom fell out of the market last year. The trades were ironic, the Plain-Dealer said, because these same Representatives would later sit in judgement of these same companies, criticizing them for “greed.” Some of the trades occurred on the same day Congress voted on bank bailout legislation.
According to the Plain-Dealer, Ms. Brown-Waite purchased up to $15,000 in Citigroup stock the day before the House passed the bailout legislation. Less than two weeks later, on the same day Bush Treasury Secretary Henry Paulson was pressuring banks to accept the bailout money, Ms. Brown-Waite purchased up to $15,000 in Bank of America stock.
Of course, the lesson here might be to never look to a member of Congress for investment advice. On October 2, 2008, Citigroup stock was trading at $22.50. It closed on June 29, 2009 at $3.02. On October 13, 2008, Bank of America stock was trading at $22.79. It closed on June 29, 2009 at $13.19.
Ms. Brown-Waite was certainly not the only member of Congress involved in the trades. The full article can be found here.
Filed under: Florida, Florida Politics, Bank Bailout, Bank of America, Citigroup, Cleveland Plain-Dealer, Ginny Brown-Waite, TARP
After Gov. Charlie Crist announced that he was vetoing House Bill 1171, widely known as the “State Farm Bill”, State Farm announced that they planned to continue with their plans—expressed on Tuesday—to exit the state’s home insurance market within the next two years.
Crist had previously expressed reservations over the bill, stating that it had “no provisions that [allowed] consumers to renew options and make a choice that best [fit] their needs.” According to State Farm and their supporters; however, the bill would have allowed them to raise rates to more “realistic” levels to cover potential losses, without being subject to state regulation.
The Republican-controlled Legislature, which overwhelmingly supported the bill, is not pleased with Crist’s veto. House Speaker Larry Cretul called Crist’s veto a “disappointment” and prominent leaders in the House and Senate are now hinting at efforts to override the Governor’s veto.
Filed under: Florida, Florida Politics, Charlie Crist, homeowner's insurance, Insurance, Larry Cretul, State Farm
Ray Sansom, the Republican Speaker of the Florida House who stepped aside earlier this year after being indicted on felony charges by a Tallahassee Grand Jury, now faces the prospects of an FBI investigation. According to the St. Petersburg Times, the FBI has begun inquiring about the case and is beginning to collect documents.
The case involves an appropriation that Sansom singularly directed to benefit Jay Odom, a panhandle-area developer, and Northwest Florida State College. Odom is a big-time contributor to the Republican Party of Florida, donating more than $1 million to the party. He, Sansom and Bob Richburg, the former president of Northwest Florida State College, all currently face state charges.
Filed under: Florida, Florida Legislature, Florida Politics, Bob Richburg, FBI, Jay Odom, Northwest Florida State College, Ray Sansom
For all of you fans of Amazon’s Kindle, JaxPoliticsOnline.com now has a Kindle edition.
Kindle Blogs are updated throughout the day to update any new content. In addition, the blogs are risk-free. They feature a 14-day free trial. You can cancel at any time during the 14-day period.
So, give it a try—JaxPoliticsOnline.com, the Kindle edition.
Filed under: Florida Politics, Jacksonville, Amazon, Amazon Kindle, Jax Politics, JaxPoliticsOnline, Kindle