Things To Do In SW Florida

DETROIT (AP) — General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.

The workers, mostly white collar, were notified about the decisions early Friday. The company confirmed the layoffs in a statement but gave few details.

“We need to optimize for speed and excellence,” the statement said. “This includes operating with efficiency, ensuring we have the right team structure and focusing on our top priorities.”

GM and other automakers have been navigating an uncertain transition to electric vehicles both in the U.S. and worldwide, trying to figure out where to invest capital and how fast the switch will happen.

The company has had to develop and update gas-powered models while investing in EV battery and assembly plants as well as minerals and other parts for the next generation of electric vehicles.

By RIO YAMAT, Associated Press

LAS VEGAS (AP) — Hundreds of hotel workers at a casino near the Las Vegas Strip went on strike just before dawn Friday after a long and highly publicized fight for a new contract.

The strike at Virgin Hotels Las Vegas marks the first open-ended strike in 22 years for the Culinary Workers Union, the largest labor union in Nevada, with about 60,000 members.

The union posted on the social platform X on Friday morning: “@VirginHotelsLV casino is ON STRIKE! Virgin hotel workers are walking out RIGHT NOW at Virgin Las Vegas for a fair contract! Stand with the workers, DO NOT CROSS THE STRIKE LINE!”

“24/7 picket lines around the property” would be in place during the strike, the union said in a news release, urging customers to cancel reservations or check out and to choose a union accommodation.

The company’s proposal worked out to an estimated $0.30 per year to wages over five years after deducting money for benefits, Culinary Union Secretary-Treasurer Ted Pappageorge said in the news release. read more

The City of Kissimmee closed on the $14 million acquisition of the Kmart and Big Lots property on W. Vine Street and plans to seek a development partner in 2025 for the 22+-acre site.

The City Commission voted unanimously in June to buy the property, which sits on three parcels and also includes a vacant lot fronting N. Thacker Avenue. Kissimmee hopes ultimately to convert the site from aged and blighted big-box stores to commercial and residential, perhaps including affordable housing, but believes a public purchase and redevelopment process is needed for that to happen.

The Kmart store has been closed since 2017. It’s 101,000 square feet. The Big Lots, which is 36,380 square feet, has a lease that expires in 2026 and generates $120,000 a year in rental income, which the city can use toward the holding costs of the property.

Big Lots filed for Chapter 11 bankruptcy protection in September and announced plans last month to close nearly 500 stores nationwide, but the Kissimmee store was not on the closure list. read more

By Taylor Getler, NerdWallet

After four years of living in her home in Athens, Georgia, experienced house flipper Charissa Bright realized she needed more space and an updated layout for herself, her husband and their two teenage boys. It was 2021, and working from home meant that her own office was a priority, along with some wishlist items like a bigger kitchen and a patio. Searching for a home that checked all her family’s boxes without needing additional updates proved to be a real challenge, and anyway, she preferred to stay in her current location.

“Renovating let me control the timeline and make my home exactly how I wanted, but it can be a lot of work,” says Bright. During renovations, the family alternated between living in the home and a rented camper in the backyard.

Costs and effort are likely to play a role in your choice between remodeling or moving, but emotional components also matter. If you like your neighborhood and you don’t mind taking on a project, a remodel may get you the changes you’re looking for. read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — Chair Jerome Powell said Thursday that the Federal Reserve will likely cut its key interest rate slowly and deliberately in the coming months, in part because inflation has shown signs of persistence and the Fed’s officials want to see where it heads next.

Powell, in prepared remarks for a speech in Dallas, said that inflation is edging closer to the Fed’s 2% target, “but it is not there yet.”

At the same time, he said, the economy is strong, and the Fed’s policymakers can take time to monitor the path of inflation.

“The economy is not sending any signals that we need to be in a hurry to lower rates,” the Fed chair said. “The strength we are currently seeing in the economy gives us the ability to approach our decisions carefully.”

Economists expect the Fed to announce another quarter-point rate cut in December, after a quarter-point reduction last week and half-point cut in September.

But the Fed’s steps after that are much less clear. In September, the central bank’s officials collectively signaled that they envisioned cutting their key rate four times in 2025. Wall Street traders, though, now expect just two Fed rate reductions, according to futures pricing tracked by CME FedWatch. read more