Drivers react to newly opened intersection on Colonial Blvd.Dinosaur from Shell Factory finds new home in Saint James City marina
FORT MYERS Drivers react to newly opened intersection on Colonial Blvd. The dreaded drive through one of our busiest intersections has been the focus of several construction projects.
Dinosaur from Shell Factory finds new home in Saint James City marina A dinosaur has found a new home at the soon-to-be Nauti-Dolphin Marina in Saint James City, Florida. This prehistoric attraction is already drawing attention even though it’s the only thing currently on the property. Dean Zoner, owner of the Nauti-Dolphin Marina, acquired the dinosaur from the Shell Factory, a local business that was going out […]
Florida lawmakers to vote on revamped Governor backed immigration bill on Thursday The House and Senate are set to vote on a new immigration bill on Thursday. The bill aims to address illegal immigration and support federal mass deportation efforts.
CLEWISTON Community raises concerns about Clewiston Animal Services The Clewiston Animal Shelter has made significant improvements, but there is still work to be done to bring conditions to a more humane level.
Collier County beachgoers react to Gulf of America name change The Gulf of Mexico has been officially renamed the “Gulf of America” following an executive order signed by former President Donald Trump.
ENGLEWOOD Englewood Beach’s closure impacts local economy; businesses seek answers Business owners on Englewood Beach are growing increasingly anxious as they await the reopening of the beach, which has been closed since hurricanes Helene and Milton.
FORT MYERS BEACH Food truck park proposal on Estero Blvd divides Fort Myers Beach locals The Fort Myers Beach Local Planning Agency recently voted on whether to transform a vacant lot on Estero Boulevard into a food truck park.
CCSO works with ICE to catch suspects in Southwest Florida State lawmakers are working on a new immigration bill. Here in Southwest Florida, one county has been following strict guidelines on illegal immigration for quite some time.
Burn ban in effect for Collier County The Board of County Commissioners has authorized a burn ban in Collier County.
FGCU FGCU’s Zavian McLean shares student athlete experience with podcast FGCU men’s basketball guard Zavian McLean shares what its like to be a Division I student athlete in his podcast “Truey Talks.”
Locals react to egg price increase Egg prices continue to soar. In fact, prices have gone up about 37% from where they were just one year ago, and the pricing and supply issues have started to impact Southwest Florida.
FORT MYERS BEACH Trump’s executive order on straws stirs debate in Fort Myers Beach President Donald Trump recently signed an executive order to bring back plastic straws, reversing a previous plan to reduce plastic reliance in the federal government.
Charlotte County official’s usage of racial slur prompts calls for resignation Charlotte County Commissioner Stephen Deutsch is under scrutiny after a complaint surfaced last week alleging he used the N-word during a work meeting.
CAPE CORAL Cape Coral woman finds hope with new ALS drug A breakthrough discovery of a drug offers new hope for patients with a genetic form of the disease.
Elevate Florida program to help homeowners strengthen properties against storms The Florida Dept. of Emergency Management announced the launch of its new “Elevate Florida” residential mitigation program.
FORT MYERS Drivers react to newly opened intersection on Colonial Blvd. The dreaded drive through one of our busiest intersections has been the focus of several construction projects.
Dinosaur from Shell Factory finds new home in Saint James City marina A dinosaur has found a new home at the soon-to-be Nauti-Dolphin Marina in Saint James City, Florida. This prehistoric attraction is already drawing attention even though it’s the only thing currently on the property. Dean Zoner, owner of the Nauti-Dolphin Marina, acquired the dinosaur from the Shell Factory, a local business that was going out […]
Florida lawmakers to vote on revamped Governor backed immigration bill on Thursday The House and Senate are set to vote on a new immigration bill on Thursday. The bill aims to address illegal immigration and support federal mass deportation efforts.
CLEWISTON Community raises concerns about Clewiston Animal Services The Clewiston Animal Shelter has made significant improvements, but there is still work to be done to bring conditions to a more humane level.
Collier County beachgoers react to Gulf of America name change The Gulf of Mexico has been officially renamed the “Gulf of America” following an executive order signed by former President Donald Trump.
ENGLEWOOD Englewood Beach’s closure impacts local economy; businesses seek answers Business owners on Englewood Beach are growing increasingly anxious as they await the reopening of the beach, which has been closed since hurricanes Helene and Milton.
FORT MYERS BEACH Food truck park proposal on Estero Blvd divides Fort Myers Beach locals The Fort Myers Beach Local Planning Agency recently voted on whether to transform a vacant lot on Estero Boulevard into a food truck park.
CCSO works with ICE to catch suspects in Southwest Florida State lawmakers are working on a new immigration bill. Here in Southwest Florida, one county has been following strict guidelines on illegal immigration for quite some time.
Burn ban in effect for Collier County The Board of County Commissioners has authorized a burn ban in Collier County.
FGCU FGCU’s Zavian McLean shares student athlete experience with podcast FGCU men’s basketball guard Zavian McLean shares what its like to be a Division I student athlete in his podcast “Truey Talks.”
Locals react to egg price increase Egg prices continue to soar. In fact, prices have gone up about 37% from where they were just one year ago, and the pricing and supply issues have started to impact Southwest Florida.
FORT MYERS BEACH Trump’s executive order on straws stirs debate in Fort Myers Beach President Donald Trump recently signed an executive order to bring back plastic straws, reversing a previous plan to reduce plastic reliance in the federal government.
Charlotte County official’s usage of racial slur prompts calls for resignation Charlotte County Commissioner Stephen Deutsch is under scrutiny after a complaint surfaced last week alleging he used the N-word during a work meeting.
CAPE CORAL Cape Coral woman finds hope with new ALS drug A breakthrough discovery of a drug offers new hope for patients with a genetic form of the disease.
Elevate Florida program to help homeowners strengthen properties against storms The Florida Dept. of Emergency Management announced the launch of its new “Elevate Florida” residential mitigation program.
MGN WASHINGTON (AP) – Federal regulators are directing the eight biggest U.S. banks to hold capital at levels above industry requirements to cushion against unexpected losses and reduce the chances of future taxpayer bailouts. The Federal Reserve’s action Monday means the eight banks together will be required to shore up their financial bases with about $200 billion in additional capital. The requirements also are aimed at encouraging the Wall Street mega-banks to shrink so they pose less risk to the financial system. The banks include JPMorgan Chase, Citigroup and Bank of America. Most of the banks have already put away the additional capital. JPMorgan is the only one that doesn’t already meet the requirements, which will be phased in from 2016 through 2018 and take full effect on Jan. 1, 2019. It currently falls about $12.5 billion short, according to Fed officials. The Fed governors voted 5-0 at a public meeting to impose the so-called “capital surcharges” on the eight banks. The extra capital requirements will increase in proportion to how risky the regulators deem a bank to be. A key risk factor will be how much a bank relies on short-term funding markets to borrow from other banks. Those markets seized up during the 2008 financial crisis. The government stepped in during the crisis with hundreds of billions of dollars in bailouts of the big Wall Street banks as well as hundreds of smaller U.S. banks. The Fed governors also unanimously adopted standards for new supervision by the Fed of General Electric Co.’s finance arm, which will be subject to rules similar to those governing big banks. Most of the rules would take effect by Jan. 1, 2018. GE Capital Corp. was labeled two years ago as a potential threat to the financial system by a special council of regulators. That label of a “systemically important” nonbank financial company meant that GE Capital had to increase its capital cushion, limit its use of borrowed money and submit to inspections by examiners. The company came under the Fed’s supervision. The government guaranteed up to $139 billion of GE Capital’s debt during the crisis. GE Capital issued about $51 billion in long-term debt and $17 billion in short-term debt with government backing. The company, based in Norwalk, Connecticut, issues a range of loans for consumers and companies. It had struggled during the crisis due to mounting defaults and losses on loans in areas like credit cards, commercial real estate and heavy equipment. The new Fed standards for supervision could be temporary because parent General Electric, one of the world’s biggest companies, has been selling off GE Capital’s businesses. That could lead to the “systemically important” designation being removed as the financial company shrinks. GE has announced a plan to divest about $200 billion in GE Capital assets by 2018, pulling the parent company closer to its industrial roots and away from finance. The Financial Stability Oversight Council, which is headed by Treasury Secretary Jacob Lew and includes other top regulators such as Federal Reserve Chair Janet Yellen, hasn’t yet reversed its ruling. If that happens, the Fed’s action will be cancelled. The other banks subject to the capital requirements are Goldman Sachs, Wells Fargo, Morgan Stanley, Bank of New York Mellon and State Street Bank. Stricter capital requirements for banks were mandated by Congress after the financial crisis, which struck in the fall of 2008 and ignited the worst economic downturn since the Great Depression. In recent years, the Fed and other regulators have put into effect a series of rules for banks to increase their capital buffers, as required by the 2010 financial overhaul law. The new additional layer of requirements for the biggest banks also exceeds the levels mandated by international regulators.