Weekly Roundup: Nov. 2-6

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Photo by Akil Mazumder from Pexels

 

Catch up on this week’s top business news here. For daily information, subscribe to our free newsletter, Gulfshore Business Daily, and find archived newsletters at GulfshoreBusiness.com.

 

Friday, Nov. 6

NAPLES CANCELS ANNUAL CHRISTMAS PARADE, NEW YEAR’S EVE FIREWORKS

Naples City Council voted unanimously Wednesday to cancel the city’s annual Christmas parade and New Year’s Eve fireworks next month because of coronavirus concerns. The events, which had been scheduled for Dec. 8 and Dec. 31, respectively, both attract thousands of people to the community. Earlier this year, the city canceled the annual St. Patrick’s Day parade and the Fourth of July parade and fireworks.  
 

Thursday, Nov. 5

FLORIDA VOTES CHOOSE TO RAISE MINIMUM WAGE TO $15 OVER 6 YEARS

During the general election Tuesday, Florida voters approved raising the state’s minimum wage to $15 an hour, which would be phased in over the next six years. More than 61% of Floridians casting ballots voted yes on Amendment 2. This supermajority approved the amendment to the Florida Constitution that will increase the state’s minimum wage from the current $8.56 an hour to $15 an hour by 2026. Nothing happens until Sept. 30, 2021, when the minimum wage will increase by $1.44 to $10 an hour. Then, every year on Sept. 30 the minimum wage will be raised by $1 until it reaches $15 in 2026. Future increases would then be adjusted for inflation again starting in 2027.
 

Wednesday, Nov. 4

FORT MYERS-BASED ALICO PURCHASES 3,280 ACRES OF CITRUS GROVES IN HENDRY COUNTY

Alico Inc. announced Monday that the Fort Myers-based company purchased about 3,280 gross citrus acres in Hendry County on Oct. 30 for a purchase price of $16.45 million. “This acquisition of the Alexander Grove from the well-respected Gardinier Florida Citrus Inc. allows Alico to add additional scale to our existing 45,000 gross acres of citrus properties,” Alico President and CEO John Kiernan said in a company statement. “This Alexander Grove appears to have been very well maintained and substantial new plantings were completed in recent years. Strategically, the Alexander Grove neighbors existing Alico groves, and this will likely enable Alico to continue to operate as a low-cost, high-producing citrus grower.” Alico Inc. primarily operates two divisions: Alico Citrus, one of the nation’s largest citrus producers, and Alico Water Resources and Other Operations, a leading water storage and environmental services division. Learn more about Alico at alicoinc.com.

 

LeeCARES logo. Photo via WINK News

Tuesday, Nov. 3

LEECARES BEGINS SECOND ROUND OF UTILITIES ASSISTANCE

LeeCARES began its second round of assistance for utilities on Monday. The county online application process for round 2 will end Nov. 27, followed by a third round of applications that will occur Nov. 30 through Dec. 11. LeeCARES programs were extended to assist residents impacted by the COVID-19 pandemic, including new rounds of utility payment assistance, expanded childcare assistance and more funding for area food banks, WINK News reports.

 

Monday, Nov. 2

HERTZ STOCK NOW TRADING OVER-THE-COUNTER RATHER THAN ON NYSE

The stock for Hertz Global Holdings no longer will trade on the New York Stock Exchange (NYSE), effective Friday, Oct. 30. The Estero-based company announced Friday that its common stock will start trading exclusively on the over-the-counter market. Stock quotations will be available on the OTC Bulletin Board (Pink Sheets) under the ticker symbol HTZGQ. The NYSE determined that Hertz was no longer suitable for listing following the company’s May 22, 2020, Chapter 11 filing and its review of the company’s appeal of the delisting. 

 

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