Things To Do In SW Florida

By DAVID KOENIG

DALLAS (AP) — A federal judge on Thursday rejected a deal that would have allowed Boeing to plead guilty to a felony conspiracy charge and pay a fine for misleading U.S. regulators about the 737 Max jetliner before two of the planes crashed, killing 346 people.

The ruling by U.S. District Judge Reed O’Connor in Texas creates uncertainty around the criminal prosecution of the aerospace giant in connection with the development of its bestselling airline plane. Boeing and the Justice Department could try to negotiate a new plea agreement.

The Justice Department and Boeing did not comment immediately.

Paul Cassell, an attorney for families of passengers who died in the crashes, called the ruling an important victory for the rights of crime victims.

“No longer can federal prosecutors and high-powered defense attorney craft backroom deals and just expect judges to approve them,” Cassell said. “Judge O’Connor has recognized that this was a cozy deal between the government and Boeing that failed to focus on the overriding concerns — holding Boeing accountable for its deadly crime and ensuring that nothing like this happens again in the future.” read more

Chapter 7

Central Florida individuals and businesses that have filed for liquidation under Chapter 7 of the U.S. Bankruptcy Code include:

Fasst Trucking LLC, 5225 Ganhill Court, Orlando. Filed: Nov. 29. Assets: $0. Liabilities: $289,208. Major creditors: North Mill Equipment Finance LLC, Norwalk, Conn., $70,040; Westlake Financial Services, Los Angeles, $45,650; Pawnee Leasing Corp., Fort Collins, Colo., $35,268. Creditors meeting: Jan. 6.

Chapter 11

Central Florida individuals and businesses that have filed for reorganization and protection from creditors under Chapter 11 of the U.S. Bankruptcy Code include:

MTL Partners LLC doing business as Collier’s Furniture Expo, 101 Towne Center Blvd., Sanford. Filed: Nov. 27. Assets: $97,460. Liabilities: $2,244,021. Major creditors: Google, Mountain View, Calif., $270,000; Itria Ventures LLC, New York City, $263,943; Natuzzi, High Point, N.C., $185,000. Creditors meeting: Dec. 23.

Restaurant Corp. Unlimited LLC, 1000 Savage Court, Suite 200, Longwood. Filed: Dec. 4. Assets: $1,000,001-$10 million. Liabilities: $1,000,001-$10 million. Major creditors: Not available. Creditors meeting: Not available. read more

By DAVID KOENIG

The Biden administration said Thursday it will take steps toward requiring airlines to pay cash compensation and cover lodging and meals for passengers who are stranded when an airline causes flights to be canceled or changed.

Such a rule would go far beyond the current requirement for airlines to pay ticket refunds. It would make U.S. policy more closely resemble airline consumer protections in Europe.

But with less than seven weeks until President Joe Biden leaves office, the fate of additional regulations on airlines will be left in the hands of President-elect Donald Trump’s administration.

The industry trade group Airlines for America said the Biden administration’s proposal would drive up ticket prices.

“In this highly competitive industry, carriers don’t need further incentive to provide quality service,” the group said in a statement. “This proposal is simply one in a long string of ill-conceived and rushed rules from an administration intent on reregulating the U.S. airline industry.” read more

By CHRISTOPHER RUGABER, AP Economics Writer

WASHINGTON (AP) — President-elect Donald Trump campaigned on the promise that his policies would reduce high borrowing costs and lighten the financial burden on American households.

But what if, as many economists expect, interest rates remain elevated, well above their pre-pandemic lows?

Trump could point a finger at the Federal Reserve, and in particular at its chair, Jerome Powell, whom Trump himself nominated to lead the Fed. During his first term, Trump repeatedly and publicly ridiculed the Powell Fed, complaining that it kept interest rates too high. Trump’s attacks on the Fed raised widespread concern about political interference in the Fed’s policymaking.

On Wednesday, Powell emphasized the importance of the Fed’s independence: “That gives us the ability to make decisions for the benefit of all Americans at all times, not for any particular political party or political outcome.”

Political clashes might be inevitable in the next four years. Trump’s proposals to cut taxes and impose steep and widespread tariffs are a recipe for high inflation in an economy operating at close to full capacity. And if inflation were to reaccelerate, the Fed would need to keep interest rates high. read more

By WYATTE GRANTHAM-PHILIPS, AP Business Writer

NEW YORK (AP) — Bitcoin topped $100,000 for the first time as a massive rally in the world’s most popular cryptocurrency, largely accelerated by the election of Donald Trump, rolls on.

The cryptocurrency officially to rose six figures Wednesday night, just hours after the president-elect said he intends to nominate cryptocurrency advocate Paul Atkins to be the next chair of the Securities and Exchange Commission.

Bitcoin has soared since Trump won the U.S. presidential election on Nov. 5. The asset climbed from $69,374 on Election Day, hitting as high as $103,713 Wednesday, according to CoinDesk. And the latest all-time high arrives just two years after bitcoin dropped below $17,000 following the collapse of crypto exchange FTX.

Bitcoin fell below $102,000 by midday Thursday, but its price is still up nearly 7% over the last day. Even amid a massive rally that has more than doubled the value of bitcoin this year, some experts continue to warn of investment risks around the asset, which has quite a volatile history. read more