Florida's Latest News

Brightline on track to sell some of itself to raise money

Brightline saw more passengers in June as it continues to expect to take on outside co-owners.

Brightline has been looking to raise money for months by selling equity in the train service to outside investors. The company updated bondholders in its monthly business report. Brightline said it "continues to actively progress the planned issuance of a substantial amount of equity, with a global process underway engaging with numerous potential strategic partners."

Some of those bondholders did not receive their interest payments as scheduled. Brightline skipped paying interest earlier this month to lenders holding unsecured IOUs.

Missing those regular payments could cost the company more. While it does not mean Brightline is in default of its bond agreements, postponing three interest payments may lead to the company paying higher interest rates on the bonds.

How much of the company it is looking to sell at what price and to whom isn't known. Brightline cautions that any stock sale is subject to a number of conditions, including market conditions, timing and specific terms.

"We're targeting a significant amount of equity coming to the company," said Ken Nicholson, a managing director at Brightline's owner, Fortress Investment Group, in the company's May conference call with investors.

Florida teachers to get more resources under new program overseen by Casey DeSantis

New resources are now available for educators in Florida through a program established by the Florida Department of Education (FDOE) and First Lady Casey DeSantis.

The Resiliency Florida Teachers Resources initiative was launched this month in a joint effort. The program is designed to provide 44 resources to teachers across the state, enhancing student learning.

The program of assistance is based on Florida’s 11 Resiliency Characteristics that include perseverance, grit, gratitude, responsibility, responsible decision-making, critical thinking and problem solving, self-awareness and self-management, mentorship, citizenship, honesty and empathy.

Resiliency Florida is primarily designed to help students overcome life challenges with assistance in the school systems. That assistance is based on FDOE state education standards.

“Resiliency is integral to preparing the next generation to overcome life’s inevitable challenges — both at home and in the classroom — and to face adversity head-on,” said Casey DeSantis. “I’ve championed Resiliency Florida to help kids learn how to overcome life’s struggles and to promote virtue in Florida’s classrooms. These new teacher resources build on Florida’s first-in-the-nation approach to resiliency education by equipping K-12 teachers with thoughtful, interactive activities designed to teach students about Florida’s 11 Resiliency Characteristics.”

Blaise Ingoglia sworn in as Florida’s next Chief Financial Officer

It’s official. Former Sen. Blaise Ingoglia has been sworn in as the state’s new Chief Financial Officer.

Florida Supreme Court Justice John Couriel gave the oath. Ingoglia’s wife, Julie, held the Bible during the ceremony in the Florida Capital’s Cabinet Room. 

“It is an honor that this has been bestowed upon me, but I will not take this for granted. You are not going to see anyone fight harder for the taxpayer, for the consumer, than I will, and I’m planning on hitting the ground running,” Ingoglia said afterward. “Governor and First Lady, thank you. It has been an honor of my lifetime to work alongside you.”

Gov. Ron DeSantis turned to a trusted longtime ally to fill the Cabinet position left vacant after Jimmy Patronis resigned to run for Congress.

For MAGA supporters, it was a controversial choice. President Donald Trump had endorsed former Republican Party of Florida Chair Joe Gruters for the position.

DeSantis pushed back with strong words, saying Gruters had a “linguini spine.”

Florida students could get even more public money for private school

A national voucher program, promising to help students across the country pay for private school, is likely to hand a windfall to families in the Sunshine State who can add it to one of the nation’s most generous state-paid private school subsidy programs.

The new federal program, approved earlier this month as part of the GOP’s sweeping domestic policy bill, will create a pot of money for tuition and other expenses by allowing people to contribute to nonprofit scholarship funding organizations and then subtract the value of their donations from their tax bills.

Families in states that choose to opt into the federal program will be eligible to receive vouchers they can use to send their children to private campuses or pay for other educational expenses, such as tutoring, though it’s unknown how much money might be available.

In Florida, which already spends more than $3 billion annually to send students to private, mostly religious campuses, the federal money could sweeten the deal for scholarship recipients — and potentially for private schools, as the extra infusion of funds could help justify future tuition increases.