Governor Crist Hosts President Obama

Fort Myers (FNP) Today in Fort Myers Governor Charlie Crist hosted President Barrack Obama as Obama spoke at a townhall meeting garnering supoort for his “Recovery and Re-investment bill.  Governor Crist has been a strong supporter of the bill looking out for his “Obama Prize” for the state.  The Governor supports the bill even though all of the republicans in the state at a national have shown their distain for the bill. 

Governor Crist has bought the bipartisan lie and thinks that there sure be bipartisan support of this measure.  This is to be noted since Crist might be seeking Mel Martinez’s soon to vacant senate seat.  Rep. Adam Putnam was also in attendance.  Putnam said of Crist “We’re both on the same side of trying to help Florida and trying to help the economy – we disagree on the specifics of this bill.”

Arthur Nadel Turns Himself In

Written by Matthew J. Cochran

Sarasota (FNP)  Florida’s own version of Bernie Madoff, Arthur G. Nadel, turned himself in on Tuesday to face charges that he stole millions of dollars through a Ponzi scheme.

Nadel, who fled from Sarasota after investors demanded more than $50 million from him, faces two counts of securities fraud and wire fraud.

Mr. Nadel, 76, faces 20 years in prison for each count and a fine of up to $5 million. He may be moved to New York, where the charges were filed due to the fact that he used a brokerage house there to wire money from the hedge funds to his personal accounts.

The exact amount that Nadel siphoned out of the hedge funds from unsuspecting investors is undetermined at this point, but documents filed by the SEC state that he and his wife diverted “large sums” of money.

The scheme is speculated to have gone back as far as 2003, some say it may have been even earlier. Neil V. Moody, who contracted with Nadel to run the funds of his Viking Management and Valhalla Management, called for an audit after the arrest of Bernie Madoff made national news.

Madoff, of course, is alleged to have committed a much more extensive Ponzi scheme, cheating people out of billions of dollars. While Nadel may not have reached the level of Madoff, victims of his own scheme are not without major losses.

A prominent Sarasota physician who invested $500,000 in the funds was quoted as saying, “I’m delighted he turned himself in. I hope he brought $350 million with him.”

State Farm leaves Florida Homeowners like a good neighbor

Written by Christine von dem Bach

TALLAHASSEE, Fla. – Jan. 27, 2009 – State Farm announced today that it’s pulling out of the property insurance market throughout Florida.

State Farm Florida – the state’s largest private homeowners insurer – estimates that the move will impact up to a million customers. The company plans to continue its other insurance divisions, including auto, which has about 2.8 million customers.

State Farm blames the state for its move. On Jan. 12, Florida regulators denied a State Farm request for a 47 percent average rate increase.

“Although this is disappointing news for Floridians who have been loyal customers of State Farm, we are not surprised by State Farm’s decision to stop offering all property insurance in Florida,” says Florida Insurance Commissioner Kevin McCarty. “We have been hearing for months of possible plans to make such a move in Florida, including a document submitted … as recently as Dec. 5.” McCarty says the state will carefully review State Farm’s plans and “explore all legal options as well.”

The Florida Legislature could also become involved. “It is important to note that we have been working with state Sen. Mike Fasano, (R-New Port Richey) to develop legislation that will significantly limit the number of non-renewals a company can issue in a year,” McCarty says.

Current State Farm policyholders will not see any changes in the near future. The Office of Insurance Regulation has 90 days to approve State Farm’s plan. If approved, State Farm must then provide 180 days notice to customers before any policies can be non-renewed.

How can State Farm still insure autos?

In 2007, the Florida Legislature passed a law that requires an insurance company to sell homeowners policies in Florida providing it writes homeowners policies in other states and also writes auto insurance policies in Florida. However, there may be loopholes. For example, what if an insurance company writes only one homeowners policy in Florida? The legality of that situation has never been determined, and the issue is sure to surface in the court system. In the meantime, the Office of Insurance Regulation must navigate the legal waters for State Farm policyholders and all Floridians.

Should Insurance companies get a bail out and hold policy holders hostage?

Like a good neighbor

Florida Rep. Seth Mckeel Responds to the Challenge

The following is a letter sent to FNP from Florida Representative Seth Mckeel for the first of our “In The House” articles.  The following is the independent, thought and opinion of Rep. Seth Mckeel.

Floridians have all felt the impact of the current economic downturn.  We are experiencing tough times with more expected to come. That’s why making Florida affordable again and restoring Florida’s economy are top priorities for the Florida House of Representatives during the upcoming Legislative Session.

We know the challenges we’re experiencing in Tallahassee are a symptom of a slowing economy nationwide, not just in Florida  That’s why we will not resort to knee-jerk reactions to this economic challenge that demands a steady hand and thoughtful consideration of options and opportunities.  Unlike Congress, we will not spend money we don’t have.  Just like this common-sense approach works for managing the family budget, it will also work for the state budget.

The budget shortfall we are experiencing is not unexpected.  The Legislature prepared for this economic slowdown by setting aside significant budget reserves and crafting a budget that looked beyond the current year.  Now is the time to thoughtfully and deliberatively consider the best options available to responsibly balance the state budget.

Among the options we will consider are eliminating earmarks and reducing government inefficiency and waste.  Underscoring our commitment to restoring Florida’s economy is the belief that we should not ask Florida’s hard-working families for more money at a time when they are most vulnerable.

Revitalizing Florida’s economy is my number one priority, and House Republicans are working on a comprehensive plan to make that happen.  To that end, we will remain focused on our goal and invest in the programs and services that grow our economy.  By strengthening Florida’s economy, the budget outlook will also improve.

In the upcoming Session, I will continue to work with my colleagues in the Legislature to reduce spending and balance the budget responsibly.

Florida is ready for real change!

After the defeat the conservative movement suffered over the past few years Florida is ready for change.  Not the “change” the left promised again and again.  That brand of “change” was simply more of the same expanding government.  More government intrusion into every aspect of our lives.  This is the brand of “change” the left has sold to the American public.  

 

Florida News Platoon is evidence that it is time for change!  Its time for those of us that still believe in the dream that is America to stand up for her!  So if you are ready for real change join us here at the Florida News Platoon!