Things To Do In SW Florida

By CHRISTOPHER RUGABGER, AP Economics Writer

WASHINGTON (AP) — Federal Reserve Chair Jerome Powell has asked an inspector general to review the cost of the central bank’s building renovations that White House officials have attacked as “ostentatious.”

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A spokesperson for the inspector general, an independent watchdog, confirmed the request and declined further comment. The request was previously reported by Axios.

The Fed has been renovating two of its office buildings in Washington for several years at a current cost estimate of about $2.5 billion, $700 million more than originally expected. The project was first approved by the Fed’s governing board in 2017. Trump administration officials have seized on the expense and some alleged amenities in the remodeled buildings to extend their criticism of Powell, whom the president has attacked for not reducing the Fed’s short-term rate. read more

A ride vehicle from the old, old-school version of Dumbo the Flying Elephant attraction sold for $150,000 at a recent auction of Disney props and memorabilia.

The 9.5-foot-long piece, which came from the Disneyland version of the ride, was sold in the Celebrating the Disney Studio and Parks auction of Van Eaton Galleries, based in Studio City, California.

This particular elephant has an auction history, Van Eaton said. In 1992, during the first Disneyana Convention, it became the first Dumbo ride ever publicly sold by Disney.  After being removed from the ride, the unit was transformed into a grounded photo op.

A certificate of authenticity from Disney says the vehicle is from 1955, meaning a Disneyland original. But the gallery thinks it’s from a 1960s redesign because the sold piece’s ears were not designed to move like the originals did. So, Dumbo buyer, beware.

Other notable sales from the recent auction included a life-size “Star Wars” stormtrooper statue once purchased at Disneyland’s Star Wars Launch Bay. At the recent auction, it went for $10,500. read more

Sesame Workshop was trying to regain full control over its Elmo account on the X platform Monday after a hacker gained access and posted a string of racist and antisemitic messages.

“Elmo’s X account was compromised by an unknown hacker who posted disgusting messages, including antisemitic and racist posts. We are working to restore full control of the account,” a Sesame Workshop spokesperson said Monday. Sesame Workshop is the nonprofit behind “Sesame Street” and Elmo.

The account was compromised over the weekend and instead of the usual posts of encouragement and kindness, Elmo’s 650,000 followers were given antisemitic threats and a profane reference to the Jeffrey Epstein sex trafficking investigation. Those tweets were soon deleted, though Elmo’s account retains a link to a Telegram channel from a user who takes credit for the hack.

X did not immediately respond to a request for comment.

Elmo’s social media account has lately become a place for mental health awareness. Last year, the red fuzzy monster, eternally 3 ½, caused a sensation when he asked: “Elmo is just checking in! How is everybody doing?” It prompted responses from then-President Joe Biden and Chance the Rapper. read more

Brightline, the high-speed railroad that runs between South and Central Florida, will be late with a scheduled July 15 interest payment to investors who hold tax-exempt bonds that were issued last year, the company confirmed Friday.

The unrated bonds, which command 10% and 12% interest rates, were sold through the Florida Development Finance Corp., which reportedly is about to consider another $400 million borrowing for Brightline to expand to Tampa from Orlando.

Bloomberg was the first to report the decision to delay the interest payout.

The deferral does not constitute a default, an event that would occur if the rail line missed three interest payments in a row, according to bond documents.

In a statement forwarded to the South Florida Sun Sentinel after the close of business Friday, the railroad acknowledged the decision to delay the payment, and said it was allowed under the terms of the bond issue. But the delay will come at a cost.

“As a result, annual interest due will increase by a step-up rate of 2.00%,” the statement said. “Following July 15, 2025, we intend to make the deferred interest payment with operating cash flow or proceeds from equity and debt financings that we are actively pursuing.” read more

By Saijel Kishan, Bloomberg News

The vast tract of land off Route 85 was meant to be a symbol of Made-in-America manufacturing. A billion-dollar battery factory was going to rise, bringing thousands of new jobs. The business announced, “Get Ready Arizona,” the governor said the state was thrilled and even the U.S. president gave the project a shoutout.

But here, in the boomtown of Buckeye, less than an hour away from Phoenix, the 214-acre lot sits empty. Work on the site had started, said Shelby Lizarraga, who manages the gas station next door, “but then it went all quiet.”

Four years after the fanfare, battery maker Kore Power Inc. abandoned its plans for a plant in Buckeye. The company’s chief executive officer stepped down and a promised $850 million federal loan was cancelled.

Kore isn’t alone in its dashed ambitions. In Massachusetts, a wind turbine cable factory set to be built on the site of a former coal power plant was scrapped. In Georgia, the construction of a facility that would have made parts for electric vehicle batteries was suspended more than halfway through. And in Colorado, a lithium-ion battery maker said it wouldn’t go forward with its factory there, at least for now. read more