Things To Do In SW Florida

By JOSH BOAK and FATIMA HUSSEIN

WASHINGTON (AP) — Donald Trump has big plans for the economy — and a big debt problem that will be a hurdle to delivering on them.

Trump has bold ideas on tax cuts, tariffs and other programs, but high interest rates and the price of repaying the federal government’s existing debt could limit what he’s able to do.

Not only is the federal debt at roughly $36 trillion, but the spike in inflation after the coronavirus pandemic has pushed up the government’s borrowing costs such that debt service next year will easily exceed spending on national security.

The higher cost of servicing the debt gives Trump less room to maneuver with the federal budget as he seeks income tax cuts. It’s also a political challenge because higher interest rates have made it costlier for many Americans to buy a home or new automobile. And the issue of high costs helped Trump reclaim the presidency in November’s election.

“It’s clear the current amount of debt is putting upward pressure on interest rates, including mortgage rates for instance,” said Shai Akabas, executive director of the economic policy program at the Bipartisan Policy Center. “The cost of housing and groceries is going to be increasingly felt by households in a way that are going to adversely affect our economic prospects in the future.” read more

More than 41,000 attendees made it to last week’s IAAPA Expo, a record number for the event, the Orlando-based International Association of Amusement Parks and Attractions reports.

The Expo hosted 1,100 exhibitors and 27,000 buyers from 20,000 buying companies at Orange County Convention Center, IAAPA says.

Jakob Wahl, CEO of IAAPA, said the rise in attendance coincides with members’ improved outlook for the industry.

“The summer was a little flat, and then, in talking to many operators, they had at a very strong autumn. … You see an enthusiasm on the show floor,” Wahl said during the event.

“We are slightly above last year. Which would be great because I didn’t think that in the summertime we were that optimistic, considering where the industry stood,” he said.

The Expo, held annually in November in Orlando, has evolved beyond the usual theme parks and manufacturers, he said.

“You see more and more of those additional attractions coming. You see shopping malls coming. You see you see ski resorts,” Wahl said. “You have some newbies right now, and that’s great because our industry gets broadened.” read more

By MICHELLE CHAPMAN, AP Business Writer

Macy’s reported weaker-than-expected sales for the third quarter and said it’s delaying the release of its full quarterly results after it discovered an employee intentionally hid up to $154 million of expenses over several years.

The department store chain, which also operates Bloomingdale’s and Bluemercury cosmetics chain in addition to its namesakes stores, was expected to report quarterly results on Tuesday.

The retailer said Monday that it identified an issue related to delivery expenses in one of its accrual accounts earlier this month. An independent investigation and forensic analysis found that a single employee with responsibility for small package delivery expense accounting intentionally made erroneous accounting accrual entries to hide roughly $132 million to $154 million of expenses from the fourth quarter of 2021 through the fiscal quarter ended November 2.

The company recognized about $4.36 billion of delivery expenses during the same time period. read more

DEAR TRAVEL TROUBLESHOOTER: Air Canada destroyed my Rimowa suitcase on a recent flight from Toronto to San Francisco. The airline instructed me to send the suitcase to a repair agent in Texas. The agent declared the suitcase unrepairable, despite the fact that they have no contract with Rimowa and no product expertise in this brand.

Air Canada then offered me a choice of inferior replacement bags, which I declined, and recently sent me a $230 check in proposed compensation. I paid roughly $1,000 for my Rimowa bag, and it was of a quality to last a lifetime. So, neither of these options is acceptable to me.

I have had multiple unsuccessful phone calls with Air Canada. I’ve escalated my complaint to the CEO by email using the contact information on your website. I have received no response. I would like Air Canada to either send the luggage to an authorized Rimowa repair shop and pay for the repairs or refund me for the luggage. Can you help?

— Donna Wells-Boyle, Portola Valley

ANSWER: Air Canada should have handled your luggage with care. And if your checked baggage was damaged while it was in the airline’s custody, it should have promptly paid for a repair or replacement. Under the Montreal Convention, which governs international flights, Air Canada’s maximum liability is $3,800, which is considerably more than you were claiming. read more

By DAVID KOENIG, AP Airlines Writer

DALLAS (AP) — Just as there are good odds the turkey will taste dry, airports and highways are expected to be jam-packed during Thanksgiving week, a holiday period likely to end in another record day for air travel in the United States.

The people responsible for keeping security lines, boarding areas and jetliners moving — from the U.S. transportation secretary and airline chiefs on down the line — swear they are prepared for the crowds.

Airline passengers might get lucky like they did last year, when relatively few flights were canceled during the holiday week. A repeat will require the weather’s cooperation. And even if skies are blue, a shortage of air traffic controllers could create delays.

U.S. flights appeared to running relatively normally on Monday, with fewer than 40 canceled but more than 1,600 delayed by midday on the East Coast, according to FlightAware.

Thanksgiving, by the numbers

Auto club and insurance company AAA predicts that nearly 80 million Americans will venture at least 50 miles from home between Tuesday and next Monday. Most of them will travel by car. read more