Capitol to Courthouse Headliners: Friday, Dec. 7

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Citizens will take $140 million from troubled state fund

As soon as the state reopened its beleaguered Local Government Investment Pool on Thursday, the Florida school boards, towns and counties that are its main clients withdrew $1.1 billion, or about 8 percent of the $14 billion balance.

 

Allstate Undaunted By Florida’s Tough Subpoena Demand

Allstate said it is continuing to comply with a Florida regulator’s subpoena that asks the insurance giant to deliver virtually every piece of dirty linen in its files concerning improper claims handling.

 

Citizens’ state investment pool share climbs

Citizens Property Insurance suddenly has about $500-million in the wrong place: the state’s ever-shrinking Local Government Investment Pool.

 

Citizens assesses its risk

Florida’s state-run insurer is looking to reduce its holdings in the troubled investment pool that has been rocked by massive withdrawals in the past two weeks.

 

Governments withdraw $1.2B from fund

With the teller windows reopened, Florida cities, counties and school districts Thursday withdrew $1.2billion from the battered state-run investment fund that was shut down last week to halt a $13 billion run.

 

Crist loses behind-the-scenes guru

Over and over in recent years when he was seeking an answer, Gov. Charlie Crist has turned to look behind him and yelled, “George!” as he called for the counsel of his chief of staff, George LeMieux.

 

D&O Suits Growing In Europe, Report Says

The number of claims against directors and officers is rising across Europe, as cross-border investment and the influence of multinationals spreads, a British law firm is reporting.

 

CEO Group Backs OFC, Scores State Regulation

The Business Roundtable organization of major company chief executives has sent letters to committee leaders in the House and Senate urging adoption of an optional federal charter for insurers and blasting state insurance regulation as outdated and harmful to commerce.

 

Editorial: Increasing government fees wayward tactic

The whole point of tax reform is spending cuts; so why can’t government make tough choices?

 

State won’t review fire assessments 
 
Local cities looking at alternatives to property taxes to pay for fire protection probably won’t have to worry about hearing “No” from state Attorney General Bill McCollum.

 

Palm Beach County’s uninsured urged to join Vita Health

Need health insurance? For as little as $25, you can get coverage through a Health Care District of Palm Beach County program if you’re uninsured and make less than $20,420 as an individual or $41,300 as a family of four.

 

Activist investor swoops on Germany’s Munich Re

An activist fund backed by billionaire financier Carl Icahn revealed on Friday it had bought a stake of almost 3 percent in Munich Re, one of Germany’s biggest companies and a bastion of tradition.

 

Fasano gets support in Aloha fight

Aloha Utilities and its most influential customer, state Sen. Mike Fasano, R-New Port Richey, squared off again Thursday at the Pasco County legislative delegation meeting.

 

Forecast calls for 7 hurricanes in ’08

Hurricane forecaster William Gray called Friday for seven Atlantic hurricanes, three of them major, during the 2008 season.

 

This time, Evan Jenne faces primary challenge

It was a potent demonstration of the power of one name.  As 17 candidates waged passionate campaigns for five Broward seats in the state Legislature last year, a sixth opening attracted only one person.

 

Trump, Crist raise amendment money

Donald Trump, who pays $1 million a year on a single Palm Beach County mansion, helped Gov. Charlie Crist raise money Thursday for a ballot question that could cap all property taxes while providing cuts for most homeowners.

 

Ex-CEO to make huge repayment

In the first settlement of its kind under post-Enron corporate reforms, the former head of insurance giant UnitedHealth Group Inc. agreed Thursday to pay $468 million to avoid trial on government charges that he secretly padded his paycheck by manipulating stock options.

 

Broadway and Hollywood Walkouts Raise Interest in Strike Insurance

It’s by no means a common peril, but the significant publicity and financial loss generated by the stagehands’ strike on Broadway and writers’ strike in Hollywood has some local businesses asking about availability of that seldom-sold coverage: strike insurance.

 

House Passes Bill to Create National Registry of Convicted Arsonists

Two House lawmakers from fire-struck California won approval this week for legislation to set up a national registry to track convicted arsonists.

 

Lawyers ask Mississippi court to take over Katrina funds

JACKSON, Miss. – A law firm fighting over legal fees with a prominent trial attorney recently charged with bribery wants a judge to take control of millions of dollars in settlement money from a Hurricane Katrina insurance case.

 

Deeper cuts expected for public universities

State university chancellor Mark Rosenberg warned Thursday that the financial future facing the state university system continues to be grim.