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Month: February 2024

The past has presence at 1881 Restaurant & Bar in Kissimmee

The past has presence at 1881 Restaurant & Bar in Kissimmee

Uzbekistan was a significant nation on the Silk Road, a network of trade routes that, for more than a thousand years, saw goods passing from Europe to East Asia and back. Silks and spices and all manner of goods moved along this ancient superhighway, carried by all manner of people, disseminating art and culture as readily as tea and textiles. Exchanges that have withstood the test of time.

Chef Akram Isamov shows a plate of Fried Lagman, “Stir-fried hand-pulled noodles in a mix of beef, egg and vegetables,” at the 1881 Dubai Restaurant. (Ricardo Ramirez Buxeda/ Orlando Sentinel)

China, Greece, Russia and Turkey are just a few nations that have left a mark on Uzbek culture, rich in all ways, not the least of which is its food. Delicious mixed grill meats, bright salads, beef-stuffed pastry and dumplings and hand-pulled noodles were among the delicacies I expected to sample when I headed out to 1881 Restaurant & Bar in Kissimmee.

What I didn’t expect was to find them being served in a historic complex with vibes far better suited to a Zane Grey novel than a stop in ancient Samarkand.

Kissimmee cowboy culture is the latest to mesh with that of the Uzbeks, it seems. And Osceola County is that much richer for it. read more

Condo sales fell in Florida because of rising insurance and HOA fees, report says

Condo sales fell in Florida because of rising insurance and HOA fees, report says

Sharp increases in what it costs to own a condominium in Florida are driving down prices that owners can get when they sell their condos in the state, according to a report released Tuesday by national real estate brokerage Redfin.

The report, written by Redfin data journalist Dana Anderson, cited higher costs of insurance and homeowner association fees as reasons that the number of condo listings in Florida increased by 28.2% in January compared to the previous January, and compared to 11.1% in the nation overall.

“Condos are sitting on the market much longer than they used to, with less interest from buyers,” the report quoted Jacksonville Redfin Premier agent Heather Kruayai as saying. “Sky-high HOA costs are pushing buyers out of their monthly budget.”

Median sales prices, the report said, increased by just 2.4% in Florida compared to 8.4% nationwide over that time period. Median prices fell 6.5% in Jacksonville, by 4.8% in Orlando, 2.5% in Miami and by 1% in Tampa.

Increases in median sales prices in Cape Coral (6.5%) and North Port (7.1%) occurred largely because they were at a low point a year ago following Hurricane Ian, the report said. read more

The Savings Game: Bond investments and taxation in 2024

The Savings Game: Bond investments and taxation in 2024

If you held bonds in 2022, you likely faced a significant paper loss in your portfolio. When interest rates increase, the value of bonds, especially long-term bonds, decreases. I will be reviewing some of the options you may have to take advantage of conditions in today’s market.

As a result of the significant increase in interest rates in 2022, a substantial number of fixed-income bond funds still have billions of dollars of unrealized losses. Because of this, current and future returns will not be subject to ordinary tax treatment.

For decades prior to 2022, yields fell and the prices of bonds increased. Capital losses were rare for bonds that had high ratings, and for bond index funds that held these bonds. So, if you held individual bonds in your portfolio, or in an index fund that held high-rated bonds on a long-term basis, the income you received was taxable at ordinary income tax rates. So, for high-income individuals, the tax rate was significant, perhaps as high as 40%.

Because of the significant increase in interest rates in 2022, many bond mutual funds and exchange-traded funds (ETFs) hold bonds with significant paper losses. When these bonds are redeemed, investors in these funds and ETFs will be able to report taxes at capital-gains rates that apply to investments made for one year or longer. The maximum rate is 20%, which is significantly lower than the ordinary tax rate of high income individuals. read more

Starbucks and Workers United, long at odds, say they’ll restart labor talks

Starbucks and Workers United, long at odds, say they’ll restart labor talks

By DEE-ANN DURBIN (AP Business Writer)

Starbucks and the union organizing its U.S. workers said Tuesday they have agreed to begin talks with the aim of reaching labor agreements.

The announcement was a breakthrough for the two sides, which have been at odds since Workers United first organized baristas at a Starbucks store in Buffalo, New York, in late 2021.

“Starbucks and Workers United have a shared commitment to establishing a positive relationship in the interests of Starbucks partners,” Starbucks said in a statement. Workers United echoed those comments in a similar statement.

Workers have voted to unionize at more than 370 company-owned Starbucks stores in the U.S., but none of those stores has reached a labor agreement with the company.

The process has been contentious. In multiple cases, federal courts have ordered Starbucks to reinstate workers who were fired after leading unionization efforts at their stores. Regional offices of the National Labor Relations Board also have issued at least 120 complaints against Starbucks for unfair labor practices, including refusal to bargain and reserving pay raises and other benefits for non-union workers. read more

With proposed $20M land buy, Orlando eyes Lake Eola expansion, ‘iconic restaurant’ and housing

With proposed $20M land buy, Orlando eyes Lake Eola expansion, ‘iconic restaurant’ and housing

In the latest move to boost its urban center, Orlando is aiming to buy four downtown properties in the coming weeks, making a roughly $20 million investment into turning dormant locations into “iconic” places.

The proposed purchase includes 205 E. Central Blvd. and 215 E. Central Blvd., allowing the city to open up its signature Lake Eola Park to the rest of downtown. Also in the portfolio are 30 S. Orange Ave., a vacant lot leased to the city as a park, and 1 N. Orange Ave., a 1880s-era bank building that has been empty for about 15 years.

“What I think you really see us doing is positioning ourselves in ways to be in the driver’s seat for downtown to make the changes that I think we’re all excited to see made,” said David Barilla, the executive director of the city’s Community Redevelopment Agency.

The purchases go before the CRA Advisory Board Wednesday, and if approved, head to the city council for a vote on March 11, said Ashley Papagni, a city spokesperson.

The proposed buys come as city officials have been planning for a downtown of the future, shifting its focus from a nightlife hotspot into a neighborhood with well-rounded amenities for residents and visitors. An updated downtown master plan, titled Project DTO 2.0, is due later this year and is expected to chart a roadmap to create more public spaces, and drive more foot traffic throughout. read more