<ul class="summary-list"><li><keyword id="6357385" type="LOCATION" weightage="60" keywordseo="florida">Florida</keyword>'s population grew by 14.6% in the last decade - and the pandemic has accelerated this.</li><li>The state famously has no personal-income tax, and its banking and finance industries are booming.</li><li>But the rise in remote working, its lack of lockdown, and attractive house prices are also drawing people in.</li></ul><p>More and more workers are moving to Florida during the pandemic - and the sunny climate isn't the only reason why.</p><p>Top companies are opening new offices in the state, and the rise in remote working is giving staff more freedom to choose where they want to live.</p><p>Florida's population grew by 2.7 million - or 14.6% - between 2010 and 2020, according to <a href="https://www.census.gov/data/tables/time-series/dec/popchange-data-text.html">US Census data</a>. This is double the rate of overall US population growth.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/wall-street-move-florida-goldman-sachs-elliott-real-estate-2020-12">Is Florida the new Wall Street?</a></em></p><p>"It's not just retirees - it's tech workers leaving San Francisco," John Boyd, the CEO of The Boyd Company, said.</p><h2>Businesses are flocking to Florida</h2><p>"Florida certainly has a winning formula for business attraction," Boyd told Insider.</p><p>In particular, Florida is becoming a hotspot for banking and financial services, while <keyword id="15641" type="COMPANY" weightage="60" keywordseo="Miami">Miami</keyword> is as emerging as "one of the hottest new tech hubs in North America today," he said.</p><p>Hedge fund <a href="https://www.bloomberg.com/news/articles/2020-10-21/singer-s-41-billion-hedge-fund-moving-headquarters-to-florida">Elliott Management</a> is moving its headquarters to West <keyword id="89445" type="COMPANY" weightage="60" keywordseo="Palm-Beach">Palm Beach</keyword>, private-equity firm <a href="https://www.businessinsider.com/how-to-get-hired-blackstone-private-equity-jobs-interview-questions-2020-10?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Blackstone</a> plans to open an office in Miami, and <a href="https://www.businessinsider.com/goldman-sachs-reportedly-considers-moving-asset-management-to-florida-2020-12">Goldman Sachs</a> is considering the state for its asset management division. Even <a href="https://www.businessinsider.com/subway-moves-jobs-from-connecticut-headquarters-to-miami-2021-3">Subway is shifting some business units to Miami</a>.</p><div type="image" title="360 rosemary related companies office building west palm beach" height="1999" width="2666" msid="82833315" hostid="261"></div><p>Software company Civix and Sonesta International Hotels are opening new offices in <keyword id="67774" type="COMPANY" weightage="60" keywordseo="Orlando">Orlando</keyword>, too.</p><p><a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">Boca Raton's Mayor Scott Singer</a> said there had been "tremendous interest" from companies in relocating to the city, through a combination of both inbound calls and targeted advertising in the <keyword id="6355838" type="LOCATION" weightage="60" keywordseo="new-york">New York</keyword>, Chicago, and San Francisco markets. Singer added that there had also been interest from executives with businesses overseas wanting to open offices or even relocate to Boca Raton.</p><p>Deloitte has invested $63 million in Orlando since 2014, while KPMG chose Orlando for its $450 million global training center, the largest capital investment in KPMG history, according to Casey Barnes, vice president of business development at the Orlando Economic Partnership.</p><p>Colliers previously told <a href="https://www.businessinsider.com/hedge-funds-florida-office-space-commercial-real-estate-2020-12?r=US&amp;IR=TIR=T">Insider</a> that interest from out-of-state firms in South Florida <keyword id="6354553" type="COMPANY" weightage="60" keywordseo="real-estate">real estate</keyword> is "torrential" - and they're looking for much bigger officers than before, too.</p><h2>Average salaries are climbing</h2><p>As these businesses open offices in Florida, the job-market in the state is booming, too. And though more workers are moving to Florida, local residents are also benefiting from this job creation, too, West Palm Beach Mayor Keith James said.</p><p>Andrew Hunter, co-founder of job search engine <a href="https://u7061146.ct.sendgrid.net/ls/click?upn=4tNED-2FM8iDZJQyQ53jATUcWyXiKAAK5HX77EGAKkF9U-3DKawb_cAthpJulO9NLVvdXWXCrp6FfYHUA2w0BLsoUdzG7B08TEFarxttvDzXtafzCSNKANC7LJUv7S7PHf-2FrNlVaftZUUywn4-2BWcwH-2FJDOhj0TCm-2FPNeNUMyYLL-2BPOsYgV240ZtVd9GeyfVloOKFcjUtev6lEOfF-2FPYlj-2FolgGjTZFY7O9sFK2P7A3cq7BMxvQ-2BKz7uk1yxjW0mvOersVT85LjMwBW6yoHCwv9TvlbVXbUpPVxtt9CejLw3-2FYvGsgNZaQQnZlDVaWbSk914Jf-2BQVb0Y4dM47DFQPXbs-2Bcxd0JmBlliaITtdL32Mm83qPL9IxOJT21bE4csU7T3kwutxv0nTvGwkeknQkDC6tRKBAuXxQ-3D" target="_blank" rel="noopener">Adzuna</a>, told Insider Florida's job vacancies are back at pre-pandemic levels and the number of unemployed is reaching record lows while average city salaries are climbing.</p><p>The number of financial-services employees in Florida has almost returned to pre-pandemic levels with nearly 600,000 people working in the sector. New York, on the other hand, is rebounding much slower, and still has around 30,000 fewer employees in the sector than it did in early 2020, according to data from the <a href="https://www.bls.gov/regions/new-york-new-jersey/new_york.htm#eag">US Bureau of Labor Statistics</a>.</p><p>In Orlando alone, Deloitte has created more than 2,200 new jobs since 2014, Barnes said.</p><p>Adzuna said that tech company Oracle is the top company hiring in Florida on its site. Boyd said that financial services and tech workers are leaving cities like Boston, Chicago, and New York to move to Florida, but some are coming from overseas in India and Brazil, too.</p><p>And billionaires including <a href="https://www.businessinsider.com/wall-street-move-florida-goldman-sachs-elliott-real-estate-2020-12?utm_source=markets&amp;utm_medium=ingestgest" target="_blank" rel="noopener">Charles Schwab</a>, <a href="https://www.businessinsider.com/a-list-of-all-the-powerful-people-moving-to-florida-right-now-2021-1">Carl Icahn</a>, <a href="https://www.businessinsider.com/a-list-of-all-the-powerful-people-moving-to-florida-right-now-2021-1">Tom Brady</a>, and <a href="https://www.businessinsider.com/peter-thiel-bought-miami-estate-featured-on-the-real-world-2021-1">Peter Thiel</a> have all bought homes in the state. Palm Beach County alone has around 44 billionaires, Smallridge told Insider.</p><div type="image" title="carl icahn billionaire miami" height="1371" width="1828" msid="82354611" hostid="261"></div><p>The state is encouraging companies to create new jobs for local workers alongside relocating their existing workforce. James said that <a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">West Palm Beach has offered financial incentives</a> to companies moving to the city based on the number of jobs they create, including expedited permit reviews and tax exemptions.</p><p>And it's not just finance and tech workers who are benefitting from Florida's growing <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>. The state is also <a href="https://www.businessinsider.com/florida-minimum-wage-rise-vote-amendment-15-tipped-employees-workers-2020-11">hiking up its minimum wage to $15 per hour</a> by 2026, too.</p><h2>Working remotely gives people more freedom</h2><p>Florida is traditionally <a href="https://www.businessinsider.com/personal-finance/best-cities-achieve-early-retirement-2020-11">associated with retirees</a> but Troy McLellan, CEO of the <a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">Boca Chamber</a>, said this trend seems to be fading as more and more families and young high-flyers move to the area.</p><p>The rise of remote working has made it easier for workers to relocate independently of their employers.</p><p>Boyd said that the pandemic has created "a time of historic mobility for both companies and people." Companies are increasingly letting staff work from home on a permanent basis, which allows them to save on real estate costs, he said.</p><p>"The <a href="https://www.businessinsider.com/ibm-ceo-on-return-to-work-and-hybrid-remote-plans-think-2021-5">office environment of New York City</a> is not what it was," <a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">Boca Raton Mayor Scott Singer</a> told Insider.</p><p>There is growing momentum for companies to let employees <a href="https://www.businessinsider.com/workers-want-hybrid-model-to-see-work-friends-survey-finds-2021-3">work from home permanently</a>. <a href="https://www.businessinsider.com/facebook-staff-work-from-home-after-coronavirus-pandemic-twitter-2021-4">Facebook</a>, <a href="https://www.businessinsider.com/twitter-tells-employees-they-can-work-from-home-permanently-2020-5">Twitter</a>, <a href="https://www.businessinsider.com/salesforce-employees-can-work-from-home-permanently-2021-2">Salesforce</a>, and <a href="https://www.businessinsider.com/ford-general-motors-toyota-remote-work-home-pandemic-coronavirus-office-2021-3">Ford</a> have said their employees can remotely post-pandemic, and some companies are <a href="https://www.businessinsider.com/salesforce-cancels-san-francisco-office-space-report-2021-3">canceling office leases</a>.</p><p>"Orlando was an ideal place to live, work, and play prior<em> </em>to COVID-19, and the region's offerings will only be more valuable to professionals in the pandemic's wake," Barnes told Insider.</p><div type="image" title="West Palm Beach" height="1060" width="2121" msid="82833316" hostid="261"></div><p>This was something Alexandra Scherbich, global head of B2B marketing at Tenth Revolution Group, found when she relocated to Tampa from London in April 2019. She told Insider that managing her colleagues in the UK could be challenging from abroad because of the time zone differences, but that she is able to now dedicate her afternoons to meetings with clients on the West Coast, which would have been much harder in the UK because of the eight-hour time difference.</p><p>"People can work from anywhere, so why not work from paradise?" <a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">Singer</a> said.</p><h2>Florida has a pro-business environment</h2><p>Though business <keyword id="56025" type="ORGANIZATION" weightage="60" keywordseo="Migration">migration</keyword> to Florida has accelerated during the pandemic, this was already a well-established trend pre-COVID.</p><p>Florida famously doesn't have a personal income tax, and this is one of the major motivators for migration, Boyd told Insider. He added that many people moving to the state come from high-tax states that don't have such a pro-business environment, like Connecticut and New Jersey, as well as <a href="https://www.businessinsider.com/new-york-income-tax-wealthy-florida-cuomo-miami-budget-2021-4">New York</a>, which recently announced plans to <a href="https://www.businessinsider.com/new-york-income-tax-wealthy-florida-cuomo-miami-budget-2021-4">bump up its income-tax rates</a> for its wealthiest residents.</p><p>"And the other part of all this is, you know, economic development really comes down to leadership at the end of the day," Boyd said.</p><p>"Governor DeSantis is a good salesman-in-chief of the state of Florida," he said. He added that Miami Mayor Francis Suarez was positioning the city as a major tech market.</p><div type="image" title="ron desantis florida vaccine 60 minutes" height="1638" width="2184" msid="82354613" hostid="261"></div><p>Troy McLellan, CEO of the <a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">Boca Raton</a> Chamber, told Insider that the city has three college campuses and was trying to create a pipeline of future talent for businesses.</p><h2>Florida has sun, sea, and no lockdown</h2><p>Florida has also remained largely open during the pandemic compared to other states. This led to people choosing to make Florida their primary residence for the pandemic, Kelly Smallridge, CEO of the Business Development Board (BDB) of Palm Beach County, told Insider.</p><p>"When [states like New York were] closed down, we had plenty of recreation space and great weather year-round, and people are understanding more and more that this is where they want to be," Singer said.</p><p>When people relocated to Florida, they started enrolling their children at nearby schools, and soon found themselves settled down in the state, Smallridge said.</p><p>Barnes said that many companies are choosing to expand in or relocate to Florida because "they see it as a destination that will attract workers and their families."</p><div type="image" title="miami florida" height="1414" width="1885" msid="82354615" hostid="261"></div><p><a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">Palm Beach County</a>, for example, has an average temperature of 75 degrees Fahrenheit, compared to 53 degrees Fahrenheit for <a href="https://en.climate-data.org/north-america/united-states-of-america/new-york/new-york-1091/">New York State</a>, <a href="https://discover.pbcgov.org/pages/pbc_facts.aspx">hasn't had snow since 1978</a>, and has <a href="https://discover.pbcgov.org/pages/pbc_facts.aspx">around 47 miles of coastline</a>.</p><p>"Most executives will go take a swim in the beach before they even go to work," the BDB's Smallridge said. "And, you know, they never have to shovel snow and they don't have to ride with the subway."</p><div type="image" title="West Palm Beach" height="1060" width="2121" msid="82833320" hostid="261"></div><p>Scherbich said that, alongside work opportunities, the climate was part of her reason for migrating. She added that she's settled into the city well and that it has a large UK expatriate community.</p><h2>Housing and living costs are lower than New York</h2><p>House prices have gone up <a href="https://www.zillow.com/palm-beach-county-fl/home-values/">around 10%</a> over the past year as more people move to the state, but Florida still has a "very attractive" real-estate market compared to some other major markets in the US, Boyd said, adding that there are affordable housing options "in virtually all parts of Florida."</p><p>The average price for a house in Florida is $277,429, rising to $323,094 in Palm Beach County and $407,245 in Miami, according to <a href="https://www.zillow.com/palm-beach-county-fl/home-values/">data from Zillow</a>. In New York, in comparison, average house prices are $323,094 for the state and $649,490 for the city.</p><p>And it isn't just houses that cost less in the Sunshine Site. Overall living costs in Orlando are 6% lower than the US average, Barnes said.</p><p>But this migration is having an impact on the availability of property in the area.</p><p>Sales of million-dollar single-family homes in Palm Beach County increased by more than 140% year over year, according to the <a href="https://www.businessinsider.com/wealthy-move-to-vacation-towns-long-term-during-pandemic-2021-2">2021 Luxury Outlook report by Sotheby's International Realty</a>, while Jay Boodheshwar, Palm Beach's deputy town manager, said that <a href="https://www.businessinsider.com/palm-beach-county-florida-migration-businesses-financial-services-new-york-2021-4">the town of Palm Beach</a> was experiencing the lowest inventory of available homes "in decades."</p><h2>Florida's transport networks are growing</h2><p>There are a lot of transport developments in the pipeline for Florida, too, Boyd said. This includes <a href="https://www.businessinsider.com/virgin-trains-investor-wes-edens-interview-brightline-florida-passenger-rail-2019-4">Brightline</a>, a rail system with investments from Richard Branson's Virgin, which connects Miami to West Palm Beach, with expansion plans Orlando and Tampa.</p><div type="image" title="Boring company los angeles" height="1334" width="1778" msid="82354617" hostid="261"></div><p>And North Miami Beach official told <a href="https://www.businessinsider.com/north-miami-beach-says-early-talks-elon-musk-boring-company-2021-3">Insider's Grace Kay</a> the city is in early talks with Elon Musk's The Boring Company over a possible plan to build a one- to two-mile tunnel to tackle congestion.</p><p>The state has more than 100 public airports, and Tampa's direct flights to London were part of Scherbich's decision to relocate to the city.</p><p>Orlando in particular bills itself as the "tomorrowland of transportation," Barnes said. This includes serving as a hub for one of the world's first <a href="https://www.businessinsider.com/florida-getting-all-electric-flying-taxis-hubs-2021-1">jet-powered flying taxis</a>, which will depart from more than 10 locations across Florida. The aircrafts by German startup Lilium will be based at Orlando's Lake Nona, which Barnes said it "a growing testbed" for smart city technology.</p><p>"The signal is really ahead of the curve," Boyd said.</p><p><em>Have you relocated to Florida? Got a story you want to tell? Email this reporter at gdean@insider.com.</em></p>

Tech jobs, sun, and no income tax: experts explain why Florida is poised to keep growing even after the pandemic

<p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener"></a><p class="source"><span>Oka-B</span></p></div><p></p></div></div></p><ul class="summary-list"><li style="font-weight: 400;"><strong><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener">Oka-B</a> has created the perfect shoe for rainy days - a water-resistant ballet flat.  </strong></li><li style="font-weight: 400;"><strong>There are 10 different styles in various colors, but each one is water-resistant, flexible, easy to clean, non-slip, made with recycled materials, and have arch support. </strong></li><li style="font-weight: 400;"><strong> I have the <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia">Georgia Matte Ballet Flat ($44),</a> which comes in six different colors. </strong></li><li style="font-weight: 400;"><strong>I've worn them during light drizzles, heavy downpours, and even on sunny days, and find that they're comfortable and cute enough to wear all day long. </strong></li></ul><p><span style="font-weight: 400;">When it rains during the summer, there aren't a lot of options when it comes to appropriate women's footwear. </span></p><p><span style="font-weight: 400;">Sure, there are short rain boots, but at the end of the day, they're still boots and not something you want to wear when it's 90 degrees outside but also pouring. </span></p><p><span style="font-weight: 400;">In the past, I've worn old ballet flats that were still good enough for a commute, but those ended up getting soaked through a few seconds after leaving my building. I've also tried wearing flip-flops but I live in New York City, and commuting in the rain on the subway is gross. So when I found a water-resistant flat that didn't fall apart in the rain, kept my feet protected from NYC grime, and looked cute enough to wear all day at work, I knew I had to try them.</span></p><p><span style="font-weight: 400;">Meet </span><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener"><span style="font-weight: 400;">Oka-B Ballet Flats</span></a><span style="font-weight: 400;">. </span></p><p><span style="font-weight: 400;">They come in 10 styles with shiny and matte finishes, many color options, and different embellishments. I have the </span><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener">Georgia Matte Ballet Flat ($44)</a><span style="font-weight: 400;"> in black - they're simple, classic and would match much of my (mostly black) wardrobe easily. Though the shiny styles are cute - especially the </span><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Feaston" target="_blank" rel="noopener"><span style="font-weight: 400;">Easton</span></a><span style="font-weight: 400;"> - I thought they looked a little too plastic-y and like an intentional rain shoe rather than a casual shoe you'd wear all day.</span></p><p>Unlike the jelly shoes of the '90s that gave us all blisters and made everything smell like w<span style="font-weight: 400;">eirdly comforting plastic</span>, the <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener">Oka-B ballet flats</a> are actually comfortable. I was able to wear the Georgias right out of the box with no break-in period and was surprised throughout the day at how well they fit and how much they felt like slippers. </p><p><span style="font-weight: 400;">As someone with wide feet, I was concerned about these shoes being too narrow, but they actually fit perfectly. I usually wear a size 8.5, but the shoes are only available in full sizes, ranging from 6 to 11. Per <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener">the instructions on the Oka-B website</a>, I went up a size and ordered a 9. This was completely the right call.</span></p><p><span style="font-weight: 400;">One of the issues I've had with flats in the past is that a lot of them - especially the cheaper ones - have no arch support. That's not the case with these, which have arch support with massaging beads on top of it. The rest of the soles are made of a grippy light-blue, snakeskin-looking material that helps keep your feet in place all day.</span></p><p><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener"><span style="font-weight: 400;"><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Courtesy of Elizabeth Yuko / Business Insider</span></p></div><p></p></div></div></span></a></p><p><span style="font-weight: 400;">The first time I wore these shoes in the rain, it was drizzling. It felt great to have the confidence to just walk like a normal person and not do that thing where you only walk on the balls of your feet to try and avoid puddles. They also dried off quickly once I got to my destination and I went on with my day.</span></p><p><span style="font-weight: 400;">But what about a </span><em><span style="font-weight: 400;">serious</span></em><span style="font-weight: 400;"> rainstorm? Good news - they're effective then too. This is where the traction on the soles of the shoes really came in handy - again, I wasn't sliding around. But I did accidentally step into a deceptively large puddle - one of New York City's iconic sights. Yes, it was gross, but the shoes stayed on my feet and came out unscathed. Given that they were totally submerged though, water did get inside so after I crossed the street, I had to take a minute to stop and empty them out, but that's definitely preferable to having your shoe soak up puddle water like a sponge and get ruined.</span></p><p><span style="font-weight: 400;">Like a lot of shoes from <a href="https://www.businessinsider.com/allbirds-vs-rothys-flats" target="_blank" rel="noopener">emerging footwear brands like Rothys and Allbirds</a>, the <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener">Oka-B flats</a> are made from recycled materials, and the brand offers a recycling program in which customers can send back their worn shoes for 15% off their next purchase. </span></p><p><span style="font-weight: 400;">Despite being durable, water-resistant, and non-slip, the shoes are still pretty flexible and can fold in half. They're also super easy to clean. I just run mine under the faucet in the bathtub, but the Oka-B website says that you can wipe them clean, or throw them in the washing machine or dishwasher. </span></p><p><span style="font-weight: 400;">The biggest problem I've had with the shoes is that if I'm wearing them when it's not raining and it's hot outside, my feet get very sweaty inside. Like, so sweaty that they've flown off my feet mid-walk and I had to find a public restroom to get paper towels to wipe off the soles of my feet. This hasn't been an issue when I've worn them during the rain or in cooler weather, like 75 degrees <span>Fahrenheit </span>and below. </span></p><p><span style="font-weight: 400;">The <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener">Oka-B flats</a> are the ideal summer rain shoes as they'll keep your feet dry and comfortable all day. </span><span style="font-weight: 400;">I've already converted my sister to these flats - she now owns two pairs. </span></p><p><span style="font-weight: 400;">At $44, it's a reasonable  investment for a pair of shoes that'll make it through the rainy days of spring and summer and take you right into fall. And considering that I've worn them several times when it wasn't even raining - just because they were comfortable and matched an outfit - I do think they're worth it.</span></p><p><span style="font-weight: 400;">I'm a fan of the simple Georgia style, but I'm also very tempted <a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Faspen" target="_blank" rel="noopener">to order the Aspen next</a>. They're very similar but have a nice buckle embellishment at the front of the shoe. That also explains why they're also a few dollars more than the the Georgia. </span></p><p><span style="font-weight: 400;">If you're looking for alternatives though, the </span><span style="font-weight: 400;"><a href="https://www.amazon.com/gp/product/B079FZ4NNS/ref=as_li_tl?ie=UTF8&amp;tag=biipf_062519_oka-b-ballet-flats-review-20&amp;camp=1789&amp;creative=9325&amp;linkCode=as2&amp;creativeASIN=B079FZ4NNS&amp;linkId=548bcc3f8a34c14f8acbf9b67af443d1" target="_blank" rel="noopener">Blondo Becca</a> is similar in style, but</span><span style="font-weight: 400;"> they're nearly double the price. The </span><a href="https://www.crocs.com/p/womens-crocs-laura-flat/204014.html?cgid=women-footwear-flats&amp;cid=410#start=1"><span style="font-weight: 400;">Crocs Laura Flat</span></a><span style="font-weight: 400;"> is cheaper than the Oka-B ones, but lost their shape quickly when I wore them so they weren't as durable or cute. </span></p><p><span style="font-weight: 400;"><strong>Pros:</strong> Water-resistant, classic and stylish ballet flat style, easy to clean comfortable, fit wide feet</span></p><p><span style="font-weight: 400;"><strong>Cons:</strong> Made my feet very sweaty in warm non-rainy weather, no half sizes so you need to size up</span></p><h3><a href="http://shareasale.com/r.cfm?b=999&amp;u=1088116&amp;m=24579&amp;afftrack=biipf_062519_oka-b-ballet-flats-review&amp;urllink=www.oka-b.com%2Fcollections%2Fballet-flats%2Fproducts%2Fgeorgia" target="_blank" rel="noopener">Buy the Oka-B Georgia Matte Ballet Flat for $44</a></h3><p class="tagline"><p><a href="http://e.businessinsider.com/join/ci/insider-picks">Subscribe to our newsletter.</a><br><br>Find all the best offers at our <a href="https://coupons.businessinsider.com/">Coupons page</a>.<br><br>Disclosure: This post is brought to you by the <a href="http://www.businessinsider.com/insiderpicks">Insider Picks</a> team. We highlight products and services you might find interesting. If you buy them, we get a small share of the revenue from the sale from our commerce partners. We frequently receive products free of charge from manufacturers to test. This does not drive our decision as to whether or not a product is featured or recommended. We operate independently from our advertising sales team. We welcome your feedback. Email us at insiderpicks@businessinsider.com.</br></br></br></br></p></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="https://www.businessinsider.com/tesla-elon-musk-ceo-net-worth-makes-spends-billion-money-2019-6">How Tesla CEO Elon Musk makes and spends his $19.2 billion</a></h3>        <div>                    </div>    </div>

These $44 water-resistant flats look like any other pair, but they hold up perfectly in the rain and are easy to clean

<ul class="summary-list"><li><keyword id="1362260" type="PERSON" weightage="60" keywordseo="Palm-Beach-County">Palm Beach County</keyword>'s grew twice as fast as the US average over the past decade.</li><li>This has accelerated during the pandemic as remote workers sought a sunnier climate during lockdown.</li><li>Three locals explained why both people and businesses are flocking to the county.</li></ul><p><keyword id="6357385" type="LOCATION" weightage="60" keywordseo="florida">Florida</keyword> has been one of the few states to see real economic progress during the pandemic.</p><p><a href="https://www.businessinsider.com/florida-growth-jobs-economy-population-new-york-pandemic-employment-miami-2021-4">Both businesses and companies have flocked to the US' third-largest state</a> over the past year because of its pro-business environment, including a lack of personal-income tax, alongside its sunny climate that made it an alluring place to spend lockdown.</p><p>And <a href="https://www.businessinsider.com/wealthy-move-to-vacation-towns-long-term-during-pandemic-2021-2">Palm Beach County</a>, located just north of Miami, has stood out. Elliott Management is planning on moving its headquarters there, Citadel Securities based its trading-floor's COVID-19 bubble at a hotel there, and hundreds of families have relocated to the county.</p><p><em><strong>Read more: </strong><a href="https://www.businessinsider.com/ibm-new-york-city-agile-office-remote-work-hybrid-2021-4">IBM is hunting for a smaller NYC office now that 80% of its employees won't come in every day. It's a sign of the times.</a></em></p><p>Insider spoke to parties involved in the local <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, including the mayors of <keyword id="398561" type="CITY" weightage="60" keywordseo="Boca-Raton">Boca Raton</keyword>, <keyword id="332058" type="CITY" weightage="60" keywordseo="West-Palm-Beach">West Palm Beach</keyword>, and <keyword id="89445" type="COMPANY" weightage="60" keywordseo="Palm-Beach">Palm Beach</keyword> town, to understand what's driving people to move to the area.</p><h2>'We punch above our weight in terms of business strength'</h2><p>Palm Beach County has been working to drive a <keyword id="56025" type="ORGANIZATION" weightage="60" keywordseo="Migration">migration</keyword> of businesses for around 10 years, Kelly Smallridge, CEO of the county's Business Development Board (BDB), told Insider.</p><div type="image" title="West Palm Beach" height="1060" width="2121" msid="82655712" hostid="261"></div><p>The county realized that executives were buying second houses or coming for vacations in Florida, but owned a large business in another state. So the BDB approached them about bringing their business to Florida, Smallridge said.</p><p>"That initiative has turned out to be the most lucrative economic development initiative in the last 40 years," Smallridge said.</p><p>The BDB isn't the only group actively recruiting businesses to move to the county. West Palm Beach mayor Keith James told Insider that the city had been reaching out to financial-services companies for years - not just in <keyword id="6355838" type="LOCATION" weightage="60" keywordseo="new-york">New York</keyword> but in other Northeast states including Vermont and Connecticut, alongside some companies as far afield as California.</p><p>"We've seen tremendous interest in companies relocating to Boca Raton," Scott Singer, the mayor of Boca Raton, told Insider.</p><p>He said the city had been fielding "plenty" of inbound calls, but that it had also launched targeted advertising in the New York, Chicago, and San Francisco markets, including promoting its technology business hub.</p><p>The three mayors told Insider they had especially noticed increasing levels of interest from venture capital, private equity, hedge fund, and financial-services companies, feeding into a state-wide trend.</p><div type="image" title="360 rosemary related companies office building west palm beach" height="1999" width="2666" msid="82655714" hostid="261"></div><p>Hedge fund <a href="https://www.businessinsider.com/miami-florida-office-space-demand-leasing-microsoft-citadel-elliott-management-2021-1">Elliott Management</a> is in final-stage talks to move its headquarters from Manhattan to West Palm Beach, while Maryland-based mortgage company <a href="https://www.bdb.org/index.php?src=pages&amp;ref=financialservicesices">New Day USA</a> is leasing 50,000 square feet of office space as a second headquarters in the city.</p><p>And <a href="https://www.businessinsider.com/citadel-remote-summer-internship-wisconsin-resort-palm-beach-2020-8">Ken Griffin's Citadel Securities</a> chose Palm Beach's Four Seasons as the location for its trading floor's COVID-19 bubble in April 2020.</p><p>Almost 2,500 financial-service firms have offices in the county, employing 37,000 people in total, according to the <a href="https://www.bdb.org/index.php?src=pages&amp;ref=financialservicesices">BDB</a>.</p><p>But other industries are growing, too. <a href="https://www.wpb.org/home/showpublisheddocument/569/637194293849430000">West Palm Beach</a> is targeting the marine and medical industries for future growth, while Singer said that Bacon Raton has been a tech hub for decades, noting that <a href="https://www.bocahistory.org/our-history-ibm/">IBM</a> developed the first personal computer there in 1981.</p><div type="image" title="Palm Beach's marina" height="1060" width="2121" msid="82655715" hostid="261"></div><p>Singer said Boca Raton had the number of corporate headquarters you'd expect from a city of four or five times its size. These include the headquarters of The Office Depot, ADT, and Bluegreen Vacations.</p><p>"We punch above our weight in terms of business strength," Singer said.</p><div type="image" title="ADT's HQ" height="863" width="1727" msid="82655716" hostid="261"></div><p>The county also has a <a href="https://www.pbconventioncenter.com/">350,000 square foot convention center</a> with 19 meeting rooms for businesses to hold events, conferences, and trade shows.</p><div type="image" title="Palm Beach County Convention Center" height="400" width="800" msid="82655718" hostid="261"></div><p><a href="https://www.businessinsider.com/florida-growth-jobs-economy-population-new-york-pandemic-employment-miami-2021-4">Florida doesn't have a personal-income tax</a> but it has a variety of other business benefits, too, Troy McLellan, CEO of Boca Raton's Chamber of Commerce, said.</p><p>He said Boca Raton has a "rich entrepreneurial environment" and "an ecosystem that supports business and entrepreneurs," in part thanks to actions of Florida Gov. Ron DeSantis. He also points to the collaboration between groups such as the Palm Beach's BDB, the regional Chamber, and Enterprise Florida.</p><p>Boca Raton alone has three college campus that create a pipeline of intellectual capital for businesses relocating to the area, McLellan said.</p><div type="image" title="Florida Atlantic University campus" height="1065" width="1420" msid="82655723" hostid="261"></div><p>There are a lot of transport developments either in place or in the pipeline for Palm Beach County, too.</p><p>The county has an international airport, which more than six million passengers pass through each year. Even the most northern part of the county, Jupiter, is located just 90 minutes' drive from Miami and Fort Lauderdale airports for a wider range of long-haul flights.</p><p>Boca Raton also has its own general aviation airport, while West Palm Beach is planning to launch a study into the feasibility of direct flights from the city to the Caribbean to benefit its marine sector.</p><p>And traveling from West Palm Beach to the rest of Florida is getting easier after it was connected to Miami through <a href="https://www.businessinsider.com/virgin-trains-investor-wes-edens-interview-brightline-florida-passenger-rail-2019-4">Brightline</a>, a rail system with investments from Richard Branson's Virgin, John Boyd of the Boyd Company said. The route will be expanded to include Orlando and its airport as well as Tampa, too.</p><div type="image" title="Brightline train" height="1900" width="3800" msid="82655724" hostid="261"></div><p>This transport network is luring both businesses and people to the county.</p><p>Singer said there had been "tremendous interest" from executives with businesses overseas, who wanted to open offices or even locate to Boca Raton because of its transport links. Meanwhile, West Palm Beach <a href="https://www.wpb.org/government/development-services/economic-development/why-west-palm-beach">says</a> it has "one of Florida's most walkable central business districts," reducing the need to commute.</p><h2><strong>People were already migrating - but the pandemic sped this up</strong></h2><p>Not only have businesses been moving to the county but people have flocked there, too.</p><p>Palm Beach County's population grew by around 14.2% over the past decade, according to estimates from the <a href="https://www.census.gov/programs-surveys/popest/technical-documentation/research/evaluation-estimates/2020-evaluation-estimates/2010s-counties-total.html">US Census Bureau. </a>This is almost double the rate of overall US population growth. Its population sits at around 1.5 million, making it Florida's third-largest county by population and second-largest by size.</p><p>This growth isn't just because of the natural population increases that you would expect over time. There has also been soaring rates of both domestic and international migration. The county's net migration was around 11,500 in 2020, according to US Census Bureau estimates - compared to a net migration loss of 23,625 for New York County, which has a similar population.</p><div type="image" title="West Palm Beach" height="1833" width="2444" msid="82655725" hostid="261"></div><p>Florida is traditionally <a href="https://www.businessinsider.com/personal-finance/best-cities-achieve-early-retirement-2020-11">associated with retirees</a> but McLellan said this trend <a href="https://www.businessinsider.com/wealthy-move-to-vacation-towns-long-term-during-pandemic-2021-2">seems to be fading as more</a> and more families and young high-flyers move to the area.</p><p>Many of these migrants are coming from the Northeast. Around two in five people moving to Palm Beach County come from the New York City area, per a <a href="https://f.hubspotusercontent20.net/hubfs/2931123/Emerging%20Areas%20in%20SE%20Florida%20(2).pdf">report by Unacast</a>. But some also come from cities like Boston, Chicago, and San Francisco, or even from countries like India and Brazil, Boyd said.</p><p><a href="https://www.forbes.com/assets/billionaires/billionaires-2020-map/?v=5">Forbes</a> identifies Palm Beach County as Florida's billionaire hub. The 2,600-square-mile county has around 44 billionaires, Smallridge said. This is roughly as many as there are in the entirety of Los Angeles, <a href="https://www.businessinsider.com/where-do-billionaires-live-top-cities-worldwide-ranked-2019-5">according to Wealth-X's 2020 Billionaire Census</a>, and includes Interactive Brokers founder Thomas Peterffy, hedge-fund manager David Tepper, and food-and-drink entrepreneur Jude Reyes, per <a href="https://www.forbes.com/assets/billionaires/billionaires-2020-map/?v=5">Forbes</a>.</p><p>It's also the home of <a href="https://www.businessinsider.com/inside-trump-mar-a-lago-club-photos-2018-1">Mar-a-Lago</a>, the US's second-largest mansion, owned by former President Donald Trump.</p><div type="image" title="Mar a Lago better" height="2000" width="2666" msid="82655727" hostid="261"></div><p>The county also has around 71,000 millionaire households, Smallridge said. <a href="https://www.businessinsider.com/larry-ellison-tearing-down-palm-beach-mansion-staying-in-hawaii-2021-4">Oracle Founder Larry Ellison</a> recently bought an $80 million house in the county, though he plans to stay living in Hawaii full-time, and fashion designer <a href="https://www.businessinsider.com/a-list-of-all-the-powerful-people-moving-to-florida-right-now-2021-1#tommy-hilfiger-9">Tommy Hilfiger</a> sold his house in Greenwich, Connecticut to move to Palm Beach.</p><p>Danielle Moore, the mayor of the town of Palm Beach, said it had a reputation as "the hometown of 'captains of industry,'" which she said motivated even more people to move there.</p><p>People had already been migrating to the county before the pandemic but COVID-19 forced people to address their work-life balance, alongside the deterioration of office culture, the mayors said.</p><p>Alongside companies opening up offices in the city, the rise in remote working during the pandemic has led to digital nomads flocking to the county.</p><p>Moore said the town of Palm Beach was experiencing the lowest inventory of available homes "in decades," and house prices across the county have gone up <a href="https://www.zillow.com/palm-beach-county-fl/home-values/">around 10%</a> over the past year as more and more people relocate.</p><div type="image" title="West Palm Beach housing" height="2016" width="3024" msid="82655730" hostid="261"></div><p>Some of these people are incredibly wealthy. Sales of million-dollar single-family homes in Palm Beach County increased by more than 140% year over year, according to the <a href="https://www.businessinsider.com/wealthy-move-to-vacation-towns-long-term-during-pandemic-2021-2">2021 Luxury Outlook report by Sotheby's International Realty</a>.</p><p>Florida has remained largely open during the pandemic compared to other states. This led to people choosing to make Florida their primary residence for the pandemic.</p><p>"People can work from anywhere, so why not work from paradise?" Singer said.</p><p>"That trend is likely to continue because <a href="https://www.businessinsider.com/ibm-ceo-on-return-to-work-and-hybrid-remote-plans-think-2021-5">the office environment of New York City</a> is not what it was," he said. He added that <a href="https://www.businessinsider.com/new-york-income-tax-wealthy-florida-cuomo-miami-budget-2021-4">New York State was also hiking its taxes</a>.</p><p>"When they were closed down, we had plenty of recreation space and great weather year-round, and people are understanding more and more that this is where they want to be," he added.</p><div type="image" title="West Palm Beach marina" height="1060" width="2121" msid="82655733" hostid="261"></div><p>Alongside retirees, Florida is also associated with seasonal residents who move to the state for the colder winter months, and Moore said that the town of Palm Beach's population more than doubles during the peak season.</p><p>But when people relocated to Florida, many started enrolling their children at nearby schools, and soon found themselves settled down in the state, Smallridge said.</p><p>Palm Beach County's median age is 43.6, "and that number is probably going to stay steady even as we all age because younger people are being born and coming here every day," Singer said.</p><p>The climate has attracted people, too. The county has an average temperature of 75 degrees Fahrenheit, compared to 53 degrees Fahrenheit for <a href="https://en.climate-data.org/north-america/united-states-of-america/new-york/new-york-1091/">New York State</a>, <a href="https://discover.pbcgov.org/pages/pbc_facts.aspx">hasn't had snow since 1978</a>, and has <a href="https://discover.pbcgov.org/pages/pbc_facts.aspx">around 47 miles of coastline</a>.</p><div type="image" title="Palm Beach" height="1155" width="2310" msid="82655734" hostid="261"></div><p>"Most executives will go take a swim in the beach before they even go to work," Smallridge said. "They never have to shovel snow and they don't have to ride with the subway."</p><p>But even as more people migrate to the county, some to work remotely while others to work for the companies opening new offices in the area, this trend is ultimately creating more employment opportunities for local residents, James said. He added that West Palm Beach has offered financial incentives to companies moving to the city based on the number of jobs they create, including <a href="https://www.wpb.org/home/showpublisheddocument/569/637194293849430000">expedited permit reviews and tax exemptions</a>.</p><p>McLellan, meanwhile, said Boca Raton was trying to create a pipeline of future talent for businesses in the area, and that the Chamber was working to discourage residents from migrating away from the city.</p><p>Ultimately Palm Beach County is positioning itself as not just a major financial-services hub, but also a destination for families, young graduates, and high-flying execs to move to.</p><p>This is perhaps best summed up by West Palm Beach's tagline: "business, life, balanced."</p>

Palm Beach County has around 44 billionaires. The super-rich are flocking there for business opportunities, convenient transport links, and a chance to live in 'paradise.'

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"></div><p></p></div></div>Good morning! The weather in New York is pretty boring lately, in a good way. It's going to be sunny with a high in the mid 80s today. Let's news it:</p>
<ol>
<li><a href="http://valleywag.gawker.com/rumor-benchmark-may-invest-in-tinder-at-a-valuation-as-1616510533"><strong>Tinder, the dating app that has a major investment from IAC, might be raising new money from Benchmark at a $1 billion valuation.</strong></a></li>
<li><a href="http://bits.blogs.nytimes.com/2014/08/06/ubeam-technology-will-enable-people-to-charge-devices-through-the-air/"><strong>A startup called uBeam has made progress on being able to charge devices through the air much like WiFi connects our gadgets through the air.</strong></a></li>
<li><a href="http://www.businessinsider.com/mark-zuckerberg-early-management-tactics-and-temper-2014-8"><strong>When Mark Zuckerberg was a young CEO, he was kind a jerk of a boss.</strong></a><span style="line-height: 1.5em;"> He supposedly dumped water on someone's keyboard and called their work "shit." He also carried around a samurai sword.</span></li>
<li><a href="http://www.theverge.com/2014/8/6/5930539/the-makers-mark-yves-behar-fuseproject-profile"><strong>The Verge profiled Yves Behar, the industrial designer who made the Jawbone Up, and the Jambox, as well as many other products.</strong></a></li>
<li><a href="http://www.businessinsider.com/foursquare-launches-new-app-2014-8"><strong>Foursquare's transition is complete.</strong></a><span style="line-height: 1.5em;"> It launched a new version of its app, which is supposed to be a Yelp 2.0. It looks nice, but it's unclear if it will gain users.</span></li>
<li><strong style="line-height: 1.5em;"><a href="http://9to5mac.com/2014/08/06/apples-paul-deneve-brings-ysls-europe-president-and-retail-head-into-the-cupertino-fold/">Apple poached Yves Saint Laurent's Europe President and Retail Head Catherine Monier.</a> </strong><span style="line-height: 1.5em;">She will report to Paul Deneve, the former YSL CEO who is working on special products.</span></li>
<li><a href="http://www.businessinsider.com/microsoft-new-fifth-avenue-store-neighbors-apple-2014-8"><strong><span style="line-height: 1.5em;">Microsoft is in talks to open a store in New York City, a few blocks away from Apple's iconic glass cube store on 5th avenue.</span></strong></a></li>
<li><a href="http://qz.com/245763/netflix-now-has-more-subscription-revenue-than-hbo/"><strong>Netflix now has as much revenue from subscribers as HBO.</strong></a> But Netflix CEO Reed Hastings says, "They still kick our ass in profits and Emmy's, but we are making progress."</li>
<li><strong><a href="http://blogs.hbr.org/2014/08/an-insiders-account-of-the-yahoo-alibaba-deal/">Former Yahoo executive Sue Decker has a long account of what it was like to close the Alibaba investment.</a></strong> The Alibaba deal has turned out to be incredibly important for Yahoo, since you could argue its entire valuation is tied to Alibaba.</li>
<li><a href="http://variety.com/2014/digital/news/survey-youtube-stars-more-popular-than-mainstream-celebs-among-u-s-teens-1201275245/"><strong>YouTube stars are more popular with teenagers than mainstream celebrities.</strong></a></li>
</ol>

10 Things In Tech You Need To Know This Morning

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span><a href="http://pictures.reuters.com/C.aspx?VP3=SearchResult&amp;VBID=2C0BXZ5VQFUN5&amp;SMLS=1&amp;RW=1440&amp;RH=718#/SearchResult&amp;VBID=2C0BXZ5VQFUN5&amp;SMLS=1&amp;RW=1440&amp;RH=718&amp;PN=3&amp;POPUPPN=127&amp;POPUPIID=2C04080TQ9V0">Reuters</a></span></p><p class="caption">It whiffs!</p></div><p></p></div></div>Cheap and cheerful clothing giant Primark says "warmer and wetter weather across Europe" led to "weaker" sales over Christmas.</p><p>Associated British Foods (ABF), the owner of Primark, <a href="http://www.investegate.co.uk/assoc-british-foods--abf-/rns/trading-update/201601140700068032L/">put out a trading update on Thursday</a> with some mixed signals in it. Revenue for the 16 weeks to 2 January is up 3%, but down 2% at current exchange rates, for example. So the underlying business is doing well but getting whacked by currency fluctuations.</p><p>Then there's Primark - sales in the period are up 7%, or 3% at today's exchange rates. But the picture is a little more complex than that.</p><p>Primark has opened loads of new shops in the year since last Christmas, including breaking into America and six alone in the period covered. These growth figures include sales from new stores, which is something analysts and investors don't usually like to see. They want to see sales growing in stores, not growth just coming from new openings - spending money to make money.</p><p>If you strip out sales from new shops - so-called "like-for-like" sales - ABF says the retailer had seven good weeks thanks to the warm autumn, followed by nine bad weeks due to the warm and wet winter. Basically, people want to buy more summer clothes in a hot autumn, but nobody buys your winter stock if it's still sunny by December.</p><p>Not only does that imply disappointing Christmas sales - ABF didn't break out the specifics - but it also paints a picture of a downward trend, with sales losing momentum.</p><p>Still, Primark is ploughing ahead, with plans for six new US stores this year, its first shop in Italy, and a new 1.1 million square foot warehouse in the <keyword id="6354868" type="COUNTRY" weightage="60" keywordseo="UK">UK</keyword>.</p><p>ABF's other big business, sugar, is showing signs of improvement, with 2016 set "to be the first year of global sugar deficit for five years which has resulted in some improvement in world prices." A performance improvement plan is also on track.</p><p>But ABF concludes the update by saying it expects profits for the year to take a £25 million hit due to unfavourable exchange rates and it "continue[s] to expect currency pressures to lead to a modest decline in adjusted operating profit and adjusted earnings for the group for the full year."</p><p>ABF shares are down just over 1% at 10:05 a.m. GMT (5:05 a.m. ET).<div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><span>Investing.com</span></p></div><p></p></div></div></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/regret-avoidance-in-lottery-tickets-powerball-sell-profit-probability-cognitive-bias-2016-1">We tested an economic theory by trying to buy people's Powerball tickets for much more than they paid</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="VlOTU2MDE6tCw0GqSor_wM7L40EQEVfv" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

It looks like Primark's Christmas was a stinker

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div></p>
<p>Wall Street has taken to a new vacation spot this recently - the sunny shores of Anguilla.</p>
<p>It only takes a few bankers to open the floodgates:</p>
<p>"I went to Anguilla for the first time this Christmas as a guest of my bud," one senior executive at a major bank told Business Insider. "It's kind of like Davos. People go to say they go."</p>
<p>Laid-back yet luxurious, Anguilla is loved for its white sand beaches, turquoise ocean and tropical weather. It makes for a more quiet and reserved vacation, the main draw being relaxing scenery and simplicity, rather than touristy attractions and noisy night life.</p>
<p><span>That's what has always drawn wealthy visitors and high profile celebrities to the small Caribbean island, says Debbie Haines from Trophy Properties. It's only in recent months, though, that the company has noticed an uptick in Wall Streeters.</span></p>
<p>"There were more private planes over the Christmas/New Year timeframe than we can even house on island so they need to park at a neighboring island of St. Martin," Haines wrote in an email to Business Insider.</p>
<p>She said Trophy Properties is in currently discussion with a handful of interested buyers who work at investment banks, hedge funds and private equity firms. </p>
<p>Located on the northernmost tip of the Leeward Islands, Anguilla is only 16 miles long and 3 miles wide, making it easy to get to any of its 33 public beaches. The ocean water is well suited for wind and kite surfers, but will occasionally see some bigger waves. St. Martin is a short ferry ride away, and visitors can sometimes spot other nearby islands such as Saba and St. Bart's from <a href="http://www.bostonglobe.com/lifestyle/travel/2014/04/19/liming-like-celebrity-anguilla/hyYhq2iW35Z2BDdZJds55O/story.html">Anguilla's shorelines</a>.</p>
<p><span>Anyone looking to scope out the island can check into some of the </span><a href="http://travel.usnews.com/Hotels/Anguilla/">island's popular hotels</a><span>: Cap Juluca, the super luxurious Viceroy Anguilla, CuisinArt Resort and Spa or Malliouhana Hotel and Spa. </span></p>
<p>Haines attributes the influx of Wall Street interest in the island to several factors: bonus season, privacy and a convenient flight from the East Coast. But the biggest reason for the trend, she said, is Wall Street's ability to recognize a growing market.</p>
<p>"The price points here though are actually quite enticing compared to NY or the Hamptons for comparable properties," she said. "This is probably the last year they can buy relatively low as the market is now on the rise after a period of time where it was relatively slow."</p>
<p> </p>

The island of Anguilla is Wall Street's hot new vacation spot

<div style="width: 100%; overflow: hidden;">
<p><span style="color: #000000; text-decoration: none; font-size: 13px; font-family: Georgia, Times New Roman, serif;"><em>This is the third of the six-part "<a href="http://www.businessinsider.com/category/inspired-to-strive" target="_blank">Inspired to Strive</a>" series, in which business leaders of middle-market companies share their stories of success. "<a href="http://www.businessinsider.com/category/inspired-to-strive" target="_blank">Inspired to Strive</a>" is sponsored by CIT.</em></span></p>
</div>
<p><strong><a href="http://www.businessinsider.com/category/inspired-to-strive"><span style="color: #000000; text-decoration: initial; font-size: 13px; font-family: Georgia, 'Times New Roman', serif;"><em>See more Inspired to Strive &gt;&gt;</em></span></a></strong></p><p>It is hard to believe that <keyword id="9753" type="ENTERTAINMENT" weightage="60" keywordseo="New-Jersey">New Jersey</keyword>, a state <a href="http://www.mnn.com/earth-matters/energy/stories/new-jersey-an-unlikely-leader-in-solar-energy" target="_blank">where only 3 in 8 days are sunny</a>, is the second largest <keyword id="45681" type="UNKNOWN" weightage="60" keywordseo="Solar">solar</keyword> <keyword id="6357014" type="ENTERTAINMENT" weightage="60" keywordseo="energy">energy</keyword> producing state, after California.<br /> <br />While New Jersey lacks California's large population and sunnier weather, the state has developed other strategies to harness solar power. <br /><br /><a href="http://www.petrasolar.com/" target="_blank">Petra Solar</a>, a solar energy <span style="line-height: 1.5em;">technology</span> company that pairs its "smart energy modules" with other vendors' solar panels, has emerged as one of the success stories of the New Jersey's solar power revolution. <br /><br />Instead of focusing on developing solar panels and solar farms, the company has come up with unique technology to distribute and control solar power gathered by the panels in the most optimized way possible.</p>
<p>It combines its smart-grid technology modules with traditional solar panels, which are mounted on roofs or <a href="http://articles.marketwatch.com/2011-06-16/industries/30688874_1_panels-megawatts-of-solar-power-utility-poles" target="_blank">even utility poles in 30 minutes</a>, and works with utility companies rather than individual residential projects.</p>
<p>In 2009, <keyword id="1753199" type="UNKNOWN" weightage="60" keywordseo="Petra-Solar">Petra Solar</keyword> has inked a mammoth $200 million contract with PSE&amp;G, the largest utility company in New Jersey, to distribute and install its solar energy solution all throughout the state.</p>
<p>Rachid Sefrioui, president of Petra Solar with years of experience in investing and in the solar energy field, explains how the company became the leader in the industry, its expansion from Jersey to the Middle East, and what the future holds for solar energy in the <keyword id="21654" type="COMPANY" weightage="60" keywordseo="video">video</keyword> below.<br /><br /></p>
<div style="display:none;" id="kalturavideoplaceholder">kalturavideoplaceholder</div>
<p><em>Produced by Business Insider Video</em></p>

Petra Solar Wants To Solve A Basic Problem For The Industry

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>Reuters</span></p><p class="caption">Residents evacuated from their homes after last week's explosions at Binhai new district, hold placards bearing images of their damaged houses, at a rally demanding government compensation outside the venue of the government officials' news conference in Tianjin, China.</p></div><p></p></div></div>The death toll of the gigantic chemical blasts that leveled part of Tianjin, the fourth largest city in China, now stands at 114.</p><p>There are up to 70 people still missing. And t<span style="line-height: 1.5em;">here are still questions surrounding exactly what chemicals were spilled.</span></p><p>The government has tried its best to <a href="https://www.hongkongfp.com/2015/08/13/cnn-local-chinese-media-struggle-to-report-on-tianjin-explosion/">censor journalists</a> and calm dissent online, but global interest in what's going on means that information is getting through China's "red fire wall."</p><p>For a combination of reasons, this disaster is more calamitous for the government than any economic crash.</p><p>This cuts directly to the heart of what scares the Chinese government the most - political dissent.</p><p>China has a complicated relationship with environmental reform. It's the only issue where China's authoritarian government has left room for protest.</p><p>In March, a famous Chinese television journalist named Chai Jing put a documentary called <a href="https://www.google.com/url?sa=t&amp;rct=j&amp;q=&amp;esrc=s&amp;source=video&amp;cd=1&amp;cad=rja&amp;uact=8&amp;ved=0CCYQtwIwAGoVChMIzfGet4izxwIVxIoNCh2ZRQT9&amp;url=http%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DT6X2uwlQGQM&amp;ei=K1_TVY2wB8SVNpmLkegP&amp;usg=AFQjCNEctXiWYtAD7w2dyVCLWNr-PA2asA&amp;sig2=3UA8YR6ehSn0XD962pFfWQ&amp;bvm=bv.99804247,d.dmo">'Under the Dome' </a>on the internet.</p><p>It's a heart wrenching investigation into the roots and results of China's huge pollution problem. The well researched presentation replete with facts and in depth interviews immediately went viral.</p><p>Observers were surprised it was allowed to even exist on the internet. It had over 150 million views in a matter of days, <a href="http://www.washingtonpost.com/news/energy-environment/wp/2015/03/16/this-documentary-went-viral-in-china-then-it-was-censored-it-wont-be-forgotten/">according to the Washington Post</a>.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Reuters</span></p></div><p></p></div></div></p><p><span style="font-size: 15px; line-height: 1.5em;">The government took it down after three weeks. </span></p><p>That wasn't the end of it, though. When reporters asked Chinese Premier Li Keqiang about the documentary's damning findings, instead of shutting them down, <a href="http://www.chinadaily.com.cn/china/2015twosession/2015-03/15/content_19815052_5.htm">he actually responded</a>:</p><p style="padding-left: 30px;">I want to tell you that the Chinese government is determined to tackle environmental pollution, and tremendous efforts have been made in this regard. The progress we have made still fall far short of expectation of our people. Last year I said that the Chinese government would declare a war against environmental pollution. We are determined to carry forward our efforts until we achieve our goal.</p><p style="padding-left: 30px;">We must get the focus of our efforts right. This year our focus will be to ensure the full implementation of the newly revised environmental protection law. All illegal production and emissions will be brought to justice and held accountable. We need to make the cost for pollution too high to bear. More support, including capacity building, needs to be given to these environmental law enforcement departments.</p><p>This doesn't happen every day in China - in fact it rarely happens at all.</p><p>China has made big overtures at environmental safety, spending billions investing in alternative energy and pledging to cut carbon emissions. </p><p>It has laws on the books to promote environmental safety too, but as 'Under the Dome' shows over and over again, people don't follow them. There's always a way for powerful people to skirt requirements, which turns this into another issue the government has vowed to combat - corruption.</p><p>For over a year, President Xi Jingpin has been engaged in an anti-corruption probe that has taken down thousands of business people and government officials, "powerful tigers" and "lowly flies" alike.</p><p><div class="KonaFilter image-container display-table"><div><div class="image on-image"><p class="source"><span>Reuters</span></p><p class="caption">Hospital workers hold a moment of silence at a commemoration ceremony for the victims of last week's massive explosions at Binhai new district in Tianjin, China.</p></div><p></p></div></div>This is what makes Tianjin so dangerous. With a lot of issues - for example, religious or political freedom - Chinese people expect to be censored by their government. They often even preemptively censor themselves.</p><p>The environment and corruption, though, are two issues where they expect the government to do something - where, in fact, the government has promised to do something.</p><p>For days, after the blast the Chinese government shot silver-iodide into approaching clouds, keeping rain from falling on what has become a ghost city, according to <a href="https://instagram.com/p/6W0KuBtD-K/">Associated Press journalist Helen Franchineau</a>.</p><p>This is a common practice ahead of big events in the country, like the Olympics. The chemicals dissipate rain clouds and make the weather nice and sunny.</p><p>On Tuesday, though, it rained, <a href="http://shanghaiist.com/2015/08/18/first_rainfall_since_tianjin_explos.php">covering the city in a mysterious white foam.</a> Residents complained of burning sensations on their lips and skin.</p><p>They'll expect the government to do something about that.<span style="line-height: 1.5em;"> </span></p><p></p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/the-powerful-trailer-for-the-man-in-the-high-castle-2015-7">Ridley Scott is about to show us a world where the Allies lost World War II</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="dta241djpRYxOJPwswWRVKuVkW494WCf" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div>

The Tianjin blasts are a way bigger threat to China than any economic meltdown

<p class="p1"><span class="s1"><em>The Insider Picks team writes about stuff we think you'll like. Business Insider has affiliate partnerships so we may get a share of the revenue from your purchase.</em></span></p><p>Today's deals are brought to us by our partners over at <a href="http://www.techbargains.com/?source=bizinsidr" target="_blank">TechBargains</a>...</p><h3><a href="http://zdbb.net/u/dib">Online courses in entrepreneurship, web development, finance and more</a></h3><p><div class="KonaFilter image-container float_right"><div class="image"><a href="http://zdbb.net/u/dib"></div><p></p></div></span></a></p><h3><a href="http://zdbb.net/u/di1">GE LED bulbs</a></h3><p><span style="font-size: 15px; line-height: 1.5em;">These GE LED Bulbs generally sell for $20 a piece, but in this combo you get TWO bulbs and the starter WiFi HUB controller that can dim, turn off or on the bulbs, either in groups or individually all at the touch of your smartphone or tablet. </span><a href="http://zdbb.net/u/di1" target="_blank">GE Link 2 LED Bulb + Automation Hub for <strong>$24.97</strong></a><span style="font-size: 15px; line-height: 1.5em;"> (list price $49.99)</span></p><p><a href="http://zdbb.net/u/dif"><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container float_right"><div class="image"></div><p></p></div></span></a></p><h3><a href="http://zdbb.net/u/dif">An awesome drone</a></h3><p><span style="font-size: 15px; line-height: 1.5em;">This is a fun beginners quadcopter without dropping a few hundred. It is easy to fly, has a built-in camera, and can fly 6-9 minutes on a single charge </span><a href="http://zdbb.net/u/dif" target="_blank">UDI U818A 6-Axis RC Quadcopter w/ Camera for <strong>$49.99</strong></a><span style="font-size: 15px; line-height: 1.5em;"> (list price $69.99)</span></p><p><a href="http://zdbb.net/u/di4"><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container float_right"><div class="image"></div><p></p></div></span></a></p><h3><a href="http://zdbb.net/u/di4">A GoPro</a></h3><p><span style="font-size: 15px; line-height: 1.5em;">GoPro's are rarely discounted but we are now seeing them go on sale with this being the largest discount on the GoPro Hero 4 Black at $100 off. The Hero 4 Black can record not only at 4K but at 120FPS at 1080p for slow motion video. These also make awesome HD wireless video monitors since they are connected by WiFi. </span><a href="http://zdbb.net/u/di4" target="_blank">GoPro Hero 4 Black 4K Action Camera for <strong>$399.99</strong></a><span style="font-size: 15px; line-height: 1.5em;"> (list price $499.99)</span></p><h3><a href="http://zdbb.net/u/di5">A bag-less robot vacuum</a></h3><p><div class="KonaFilter image-container float_right"><div class="image"><a href="http://zdbb.net/u/di5"></div><p></p></div></span></a></p><h3><a href="http://zdbb.net/u/dik">An external hard drive</a></h3><p><span style="font-size: 15px; line-height: 1.5em;">This is a whole mess of storage for $100. This is even cheaper than if you were buy the bare drive by itself and comes down to a $0.024 cents per gigabyte. </span><a href="http://zdbb.net/u/dik" target="_blank">Seagate Expansion 4TB USB 3.0 External Hard Drive for <strong>$99.99</strong></a><span style="font-size: 15px; line-height: 1.5em;"> (list price $129.99)</span></p><p><a href="http://zdbb.net/u/di9"><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container float_right"><div class="image"></div><p></p></div></span></a></p><h3><a href="http://zdbb.net/u/di9">A water sprinkler controller</a></h3><p><span style="font-size: 15px; line-height: 1.5em;">This nifty smart water sprinkler controller controls up to 8-zones and will manage the watering schedule for you based upon sprinkler type, slope type, soil type, shady or sunny location AND adjust its watering based upon weather data. </span><a href="http://zdbb.net/u/di9" target="_blank">Skydrop 8-Zone Smart Water Sprinkler Controller for <strong>$269.99</strong></a><span style="font-size: 15px; line-height: 1.5em;"> (list price $299.99)</span></p><p><a href="http://zdbb.net/u/dij"><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container float_right"><div class="image"></div><p></p></div></span></a></p><h3><a href="http://zdbb.net/u/dij">Laptop backpacks</a></h3><p><span style="font-size: 15px; line-height: 1.5em;">SwissGear laptop backs are a highly durable, functional and well-rated laptop bags and Amazon is discounting one of the widest ranges of backpacks we've at discounts that are are up to 75% off the list price. </span><a href="http://zdbb.net/u/dij" target="_blank">Over 40% off SwissGear Laptop Bags starting at <strong>$33.99</strong></a><span style="font-size: 15px; line-height: 1.5em;"> (list price $69.99)</span></p><p><a href="http://zdbb.net/u/din"><span style="font-size: 15px; line-height: 1.5em;"><div class="KonaFilter image-container float_right"><div class="image"></div><p></p></div></span></a></p><h3><a href="http://zdbb.net/u/din">Get a free Dell Venue Tablet with a premium Dell Laptop</a></h3><p><span style="font-size: 15px; line-height: 1.5em;">This is an awesome bonus deal where you receive a Free Dell Venue Tablet on a premium Dell Laptop with aluminum construction, backlit keyboard and high resolution 1920x1080 display with touchscreen and Gorilla Glass scratch protection. Note that an additional $100 discount applies in cart. </span><a href="http://zdbb.net/u/din" target="_blank">FREE VENUE Tablet with Dell Inspiron 15 7000 Intel Core i5 Laptop with 1080p Touchscreen for <strong>$599.99</strong></a><span style="font-size: 15px; line-height: 1.5em;"> (list price $1049.99 - Extra $100 discount in cart)</span></p><h2>For more great deals check out on electronics, computers and more at <a href="http://www.techbargains.com/?source=bizinsidr" target="_blank">TechBargains</a>.</h2><p class="tagline">Disclosure: This post is brought to you by Business Insider's Insider Picks team. We aim to highlight products and services you might find interesting, and if you buy them, we may get a small share of the revenue from the sale from our commerce partners, including Amazon. Jeff Bezos, CEO of Amazon, is an investor in Business Insider through his personal investment company Bezos Expeditions. We operate independently from our advertising sales team. We welcome your feedback.Have something you think we should know about? Email us at insiderpicks@businessinsider.com.</p>    <div class="margin-top">        <h3>NOW WATCH: <a href="http://www.businessinsider.com/iphone-headphones-tricks-2015-2">14 things you didn't know your iPhone headphones could do</a></h3>        <div>            <div>        <div class="ooyala-video-player" data-video-autoplay="false" data-video-id="o2OGM3czpWcydnvhjbkDBd6feXPuExiD" data-player-variable="ooyalapopvideo" id="ooyalaplayer_popvideo" style="width:1280px;height:720px"></div>        </div>        </div>            </div></hr></hr></hr></hr></hr></hr></hr></hr></hr></hr>

TECH DEALS OF THE DAY: Drones, laptops, robot vacuums and more

<p><div class="KonaFilter image-container float_right"><div class="image"><p class="source"><span><a href="http://www.flickr.com/photos/wlcutler/4104461307/sizes/l/in/photostream/">Flickr/WLCutler</a></span></p></div><p></p></div>Larry Ellison has huge, impressive plans for the Hawaiian island of Lanai, <a href="http://www.businessinsider.com/a-virtually-untouched-hawaiian-island-is-on-sale-for-600-million-2012-6">which he bought in 2012</a>.</p>
<p>It will become "a laboratory for building the next generation two-way power grid, which will be a mix of photo-tech (solar), with a little bit of wind with a backup of liquefied natural gas," he told attendees at an event in Las Vegas Thursday evening.</p>
<p>The island is a "special case" that can be used "to demonstrate that green energy can be economical," he explained.</p>
<p>Ellison is CEO of Oracle and the event was held to talk about the company's HR cloud software. But in the Q&amp;A session, he invited the audience to ask him "anything," and that was a part of the evening that he clearly relished.</p>
<p>An Oracle employee and Hawaiian native stood up and asked about his long-term plans for Lanai. Since buying the island, Ellison, though his company Lanai Resorts LLC, has also bought two Lanai airlines, refurbished the hotels and invested in everything from wind farms to local businesses.</p>
<p>"I was just looking at the Lanai five-year budget and wow, it's expensive," Ellison joked. He's one of the world's richest men, worth $41 billion, <a href="http://www.forbes.com/profile/larry-ellison/">Forbes estimates</a>.</p>
<p>But his true motive has less to do with running a profitable resort than saving the planet.</p>
<p>Ellison says that North America is not running out of fossil fuels, especially a "transitional energy called liquefied natural gas."</p>
<p>In the past five years, North America has found 100 years worth of natural gas, he says, and we're sure to find more. In order to compete, the green energy industry needs someone to show that it can be just as affordable as traditional energy.</p>
<p>He explained his plan in detail:</p>
<p style="padding-left: 30px;">We think we can demonstrate that green energy can be economical. Right now green energy is considerably more expensive than conventional fossil fuels.  The island of Lanai is small enough, it can serve.</p>
<p style="padding-left: 30px;">One of the great things about Lanai is that the weather is always fabulous. Always 82 degrees and sunny. The problem is that, like California now, Lanai needs more water. It's in the rain shadow of Maui ...</p>
<p style="padding-left: 30px;">We're going to use our solar power, our wind power grid to convert sea water to fresh water ... desalination. We think we can do that in a very effective way and use that fresh water to bring back commercial agriculture.</p>
<p style="padding-left: 30px;">Lanai at one time grew 98% of the world's pineapples. But the world's pineapples are now grown in two places, Costa Rica and Panama, because no one wants to spend $45 for a pineapple from the United States.</p>
<p style="padding-left: 30px;">We're using computers to distribute the water through drip irrigation. There's sensors in the drip irrigation heads so you know when to turn the head on and off. If part of the field is in shadow, you put less water on that part of the field. If part of the field has higher acidic content, you fertilize that part of the field differently. ...</p>
<p style="padding-left: 30px;">We think this is what agriculture is going to look like 20-30 years from now. We're trying to model all of that and do it in a way where it can be very cost effective. ...</p>
<p style="padding-left: 30px;">We're empowering the locals to start their own businesses, [whether that's] in agriculture or a juice bar in Lanai City. We're providing them with the appropriate mentoring and help.</p>
<p style="padding-left: 30px;">If they are growing all these wonderful organic crops, we'll figure out how to get them to market.</p>
<p style="padding-left: 30px;">We can fly the products from Lanai to Honolulu and then ship them to Japan. We have an airline that takes people around during the day and an airline that takes produce around in the evening. Fresh produce picked on Thursday can show up in a Japanese or Chinese restaurant on Friday.</p>
<p style="padding-left: 30px;">We're also improving the schools and free public facilities for the people of Lanai. There are 3,200 people that live on the island. We've done a bunch of things in terms of building community pools, basketball courts and for the first time Lanai has a football field where the high school can have home games.</p>
<p style="padding-left: 30px;">We think if we do a good job of taking care of the locals, the locals will do a good job of taking care of our visitors.</p>

Billionaire Larry Ellison Has A Brilliant Plan To Make Green Energy Affordable With His Hawaiian Island

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"></div><p></p></div></div>Tesla CEO Elon Musk <a href="https://twitter.com/elonmusk/status/517486950589014016/photo/1">tweeted</a> Wednesday night about something called "D," which will be officially unveiled October 9. </p>
<p>The <a href="http://www.businessinsider.com/elon-musk-tesla-d-2014-10">photo that accompanied the tweet</a> was of a partially opened garage door, with what looks a lot like a Tesla Model S peeking out. Everything was in black. Mysterious!</p>
<p>Musk also said that in addition to "D," Tesla will pull the cover off "something else."</p>
<p>So what's coming from the electric-car startup, which could actually use some good news as its stock has declined over the past several weeks (it was down almost 20% from a trading peak of $291 on Sept. 4 - but it's on the rise Thursday morning)?</p>
<p><div class="KonaFilter image-container display-table"><div><div class="image"></div><p></p></div></div></p>
<p><strong>An All-Wheel-Drive Version of the Model S</strong></p>
<p>This is almost certainly what's in Tesla's Black Garage. An AWD version of the Model S has been rumored since the beginning of the year, and now that the company's Fremont, Calif., factory has been retooled to build the Model X SUV (arriving next year), the technology is in place to construct an AWD Model S. All-wheel-drive is an important variant in luxury cars - AWD offers more stable driving dynamics than rear-wheel-drive and is obviously better in bad weather. The Model S is currently available only with rear-wheel drive, tricky in the snow, and Tesla isn't invested in only selling cars in sunny California.</p>
<p>The Model X will come what what Tesla has labeled a "dual motor" AWD system, so that's where the "D" comes in. This was my guess when I spotted Musk's tweet, and speculation has been widespread on the Internet that's "D" indeed means "dual." Explanation: The Model S "D" will need two electric motors, one for the front wheels and one for the back.</p>
<p><strong>High-Performance Model S?</strong></p>
<p>The existing Model S is already pretty snappy, but it's also pitched at buyers who love tech, love the Tesla story, and love the planet - more than they love going very fast in a straight line or around corners. The skunkworks nature of the photo in the tweet suggests that Tesla could be starting its own high-performance division, maybe aimed at racing. Mercedes has AMG, BMW has M Sport, Audi has S models. This is something that Tesla lacks and that would add a bit of dash to the company's story. And there's now a new electric-car racing series, <a href="http://www.businessinsider.com/a-spectacular-crash-could-boost-interest-in-electric-car-racing-2014-9">Formula E</a>. Presto, Elon Musk becomes Silicon Valley's Enzo Ferrari - on the weekends!</p>
<p>My money is on this one!</p>
<p><strong>It's a Diesel</strong></p>
<p>Hahaha! But seriously, maybe Tesla has decided to deal with "range anxiety" by incorporating a diesel-electric hybrid engine into its designs, perhaps as a result of the company's relationship with Daimler (Germans love diesels!). Of course, a diesel-hybrid Model S - or any diesel-hybrid Tesla - would run 100% counter to what the company stands for: 100% all-electric <keyword id="34991" type="ORGANIZATION" weightage="100" keywordseo="transportation">transportation</keyword>.</p>
<p><a href="http://www.autoblog.com/2014/10/02/tesla-model-d-teaser/?icid=autoblog|check-these-out">Autoblog's Noah Joseph also suggests this possibility</a>.</p>
<p><strong>It's the SpaceX Mars Rover</strong></p>
<p>Okay, probably not.</p>
<p><strong>It's A Model S That Runs Entirely On D Batteries</strong></p>
<p>This is Tesla's new battery-swapping plan. It will take several days to replace the Model S's existing lithium-ion battery pack with perhaps thousands of D batteries, but D batteries are pretty easy to find and you don't need to build a <a href="http://www.businessinsider.com/teslas-winning-formula-for-nevada-gigafactory-2014-9">$5-billion Gigafactory</a> to get them.</p>
<p><strong>It Stands For "Debt"</strong></p>
<p>Tesla doesn't currently have its own finance arm - if you want to to take out a loan to buy a Model S, you have to go through Wells Fargo or US Bank. I once asked Musk if Tesla was interested in becoming its own bank at some point - which makes sense if Tesla matures as a carmaker, given that it can make a lot of money through what's called "captive financing," especially if it can sell directly to the consumer at its stores - but he scoffed at the idea. That was a couple of years ago, however.</p>
<p><strong>Convertible?</strong></p>
<p>This theory is making the rounds as well. But it would imply that there will be a coupe version of the Model S, as well. Not a crazy idea. But some of this stuff is limited by the fact that Tesla doesn't really have enough production lines to build numerous variants of its cars.</p>
<p><strong>An Updated Roadster</strong></p>
<p>The Roadster was Tesla's first car, with components supplied by Lotus (although not, according to what Tesla's called a "<a href="http://www.teslamotors.com/blog/mythbusters-part-2-tesla-roadster-not-converted-lotus-elise">myth</a>," entirely by Lotus). It would be kind of good if Tesla could keep the Roadster going in some form, simply to have a sportier model in the lineup. But then again, the Roadster was more of a means to and end, and a sexy proof-of-concept for Tesla's electric-car business model.</p>
<p><strong>Driverless Tesla?</strong></p>
<p>Musk has said that all Tesla's will have self-driving capability in a few years, so maybe. But it doesn't really fit with the whole "black garage" thing.</p>
<p><strong>What about the "something else?" </strong></p>
<p>I'm guessing it's a smartwatch.</p>

Elon Musk's Tantalizing Tesla Tweet: What Could 'D' Be?

<p><div class="KonaFilter image-container display-table float_right"><div><div class="image on-image"><p class="source"><span>REUTERS/Stringer </span></p><p class="caption">An employee works in front of newly made giant dolls of Fuleco the Armadillo, the official mascot of the FIFA 2014 World Cup, at a factory in Tianchang, Anhui province January 6, 2014. The 2014 World Cup will be held in Brazil from June 12 through July 13. </p></div><p></p></div></div>Good morning! Here's what you need to know.</p>
<ul>
<li>The U.S. is set to experience unprecedentedly cold weather over the next 48 hours. <a href="http://www.ft.com/intl/cms/s/0/7c342e04-7626-11e3-b028-00144feabdc0.html?siteedition=intl#slide0">The FT says</a> the "polar vortex" sweeping down from the Arctic will likely cause energy prices to spike, and endanger crops. Tuesday alone could be the coldest day in 20 years. Flights across the U.S. remain delayed or canceled, and cities across the Midwest, including in Chicago, which rarely takes such measures, have closed schools.</li>
<li>Turkey's Lira fell to another record low against the dollar as the country's corruption crisis rolled on. <a href="http://www.ft.com/intl/cms/s/0/0bbab266-76b6-11e3-807e-00144feabdc0.html?siteedition=intl#axzz2pcOnOd8K">As the FT's Robin Wigglesworth reports</a>, "Mehmet Simsek, Turkey's finance minister and a former Merrill Lynch economist, admitted to the Financial Times that the lira's slump "obviously has some negative implications for the Turkish economy", but said the country could still hit its 4 per cent growth target this year. Many investors are more skeptical, and have highlighted Turkey as perhaps the most vulnerable of the so-called "fragile five" emerging markets to the US Federal Reserve's decision in December to start scaling back its bond-buying programme."</li>
<li>Spain's services sector purchasing manager's index <a href="http://www.businessinsider.com/spain-service-pmi-2014-1">surged to 54.2 in December</a> from 51.7 in November, with activity and new orders rising at the sharpest pace in six years, aided by discounting. Job cuts also slowed down considerably.  </li>
<li>But Italy and France both saw their services sector purchasing managers indices contract, registering <a href="http://www.markiteconomics.com/Survey/PressRelease.mvc/81f6dcfaf618459cadc3bd4bcc1449bd">47.9</a> and <a href="http://www.markiteconomics.com/Survey/PressRelease.mvc/dae24bc1c4b74ffda157de48b9511a5b">47.8</a>, respectively. (Anything below 50 is considered contraction.) It was the second-straight month of contraction in Italy, and a six-month low for France.</li>
<li>Markets in Asia were lower across the board. European markets were barely higher. U.S. futures were pointing higher.</li>
<li>Men's Wearhouse put in yet another offer for rival Jos. A. Bank, this time bidding $57.50/share in cash, or about $1.6 billion. That is  a 52% premium over the close on Oct. 8--the day before Jos A. Bank's initial attempt to buy its rival--and a 5.7% premium over Friday's close of $54.41, <a href="http://www.marketwatch.com/story/mens-wearhouse-offers-16-bln-for-jos-a-bank-2014-01-06?link=MW_home_latest_news">according to Marketwatch</a>. "Although we have made clear our strong preference to work collaboratively with Jos. A. Bank to realize the benefits of this transaction, we are committed to this combination and, accordingly, we are taking our offer directly to shareholders," Men's Wearhouse Chief Executive Doug Ewert said.</li>
<li>The specter of deflation is now stalking Europe, <a href="http://online.wsj.com/news/articles/SB10001424052702303640604579298310546064636">the Wall Street Journal's Stephen Fidler writes</a>. "...inflation is stubbornly low, under 1% on average across the 18-nation bloc, despite the money that the European Central Bank has been pumping into the economy with the aim of spurring investment and growth, actions that often push up inflation. That is way under the ECB target of 'below, but close to 2%,' and, if the average is below 1%, more economies using the euro are at risk of deflation." </li>
<li>Liz Cheney, daughter of Dick Cheney, <a href="http://www.businessinsider.com/liz-cheney-drops-out-wyoming-senate-race-2014-1#ixzz2pcKo7luh">announced</a> she is abandoning her Senate bid to unseat Wyoming Senator Mike Enzi. BI's Brett LoGiurato says her five-month campaign had been a <a href="http://www.businessinsider.com/liz-cheney-drops-out-wyoming-senate-race-2014-1#ixzz2pcKo7luh">"disaster"</a> compounded by a feud that had erupted with her sister, Mary, who is gay. Liz Cheney had said she continued to oppose gay marriage, and Mary told the New York Times that the two hadn't spoken since this summer.</li>
<li>We get two important economic datapoints at 10 a.m. today: factory orders, which are expected to climb 1.6% month-over-month; and the ISM's manufacturing survey, which is expected to further expand to a reading of 54.8 in December, up from 53.9 in November.</li>
<li>The "post-American Middle East" is rapidly spiraling out of control, <a href="http://www.nytimes.com/2014/01/05/world/middleeast/power-vacuum-in-middle-east-lifts-militants.html">the New York Times says</a>. "...the bloodshed that has engulfed Iraq, Lebanon and Syria in the past two weeks exposes something new and destabilizing: the emergence of a post-American Middle East in which no broker has the power, or the will, to contain the region's sectarian hatreds. Amid this vacuum, fanatical Islamists have flourished in both Iraq and Syria under the banner of Al Qaeda, as the two countries' conflicts amplify each other and foster ever-deeper radicalism. Behind much of it is the bitter rivalry of two great oil powers, Iran and Saudi Arabia, whose rulers - claiming to represent Shiite and Sunni Islam, respectively - cynically deploy a sectarian agenda that makes almost any sort of accommodation a heresy."</li>
</ul>

10 Things You Need To Know Before The Opening Bell

<p><div class="KonaFilter image-container display-table"><div><div class="image"><p class="source"><a href="http://books.google.com/books?id=U1IEAAAAMBAJ&amp;printsec=frontcover#v=twopage&amp;q&amp;f=true">Screenshot of digitized copy of "LIFE" from Nov. 29, 1963.</a></p></div><p></p></div></div></p>
<p class="s4"><em>Excerpted from "<a href="http://www.amazon.com/Shooting-Kennedy-JFK-Culture-Images/dp/0520229851">Shooting Kennedy: JFK And The Culture Of Images</a>" by <a href="http://users.wfu.edu/lubindm/">Professor David M. Lubin of Wake Forest University</a>:</em></p>
<p class="s4">THIS WAS THE LAST TIME <span class="s5">they would see blue sky together. What a lovely day it had turned out to be. When they awoke that morning in Fort Worth, the sky was seeping rain. Not pouring, mind you. It wasn't a hard rain that fell in Fort Worth, only a drear November rain that now seems an omen of tears to come. Everything always looks different in retrospect, and never more so than with the Kennedy assassination.</span></p>
<p class="s5">Had the rain continued, for example, the president's Secret Service agents would have shielded the passenger compartment of the presidential limousine with a protective glass covering that was used to keep rain off the ?rst couple. It wouldn't have stopped an assassin's bullet, but it might have obscured his view. Even if the rain had not subsided, the president would most likely have waved off the bubbletop, had he been on his own. He thrived on direct contact with the crowds that turned out to see him and would not have minded a drenching if it granted him more eye-to-eye engagement.</p>
<p class="s5">It would not do, however, for the ?rst lady to get soaked. Spectators who turned out for the presidential motorcade, as eager to gape at her as at her husband, would have been disappointed if she were partially hidden from sight by the rain-de?ecting bubbletop. But Jackie's hair, her makeup, her elegant clothing-in a word, her image-were not meant for inclement weather. Or so, apparently, the president thought, and thus, had the rain continued, he probably would have agreed to the use of the bubbletop.</p>
<p class="s5">By the time they got to Dallas, the sky had dried its eyes. The day smiled upon them.</p>
<p> </p>
<p><em>LIFE</em><em>'</em>S FULL-PAGE COLOR PHOTO depicting the presidential couple arrive at Love Field opens the magazine's coverage of the assassination. The rest of the pictures in the report are in black and white, as if the very colors of human life, not to mention happiness, had bled out of them. Blurry enlargements from the 8-millimeter Zapruder film, they look like smudges on the page.</p>
<p>In contrast, the Love Field arrival shot, taken by the Veteran <em>Life </em>photographer Arthur Rickerby, seems larger than life - vividly colored, crisply focused, it fills the page. <span style="line-height: 1.5em;">The Kennedys look tall and vibrant. They come so close to the photographic picture plane that they seem within our reach, giants among us. </span><em style="line-height: 1.5em;">Life</em><span style="line-height: 1.5em;">'s editors clearly intended Rickerby's photo as a resplendent, magical, wonderful </span><em style="line-height: 1.5em;">before </em><span style="line-height: 1.5em;">to the drab, dismal, and violent </span><em style="line-height: 1.5em;">after </em><span style="line-height: 1.5em;">in what turned out to be the best-selling issue of the magazine in its ?fty-some-year history.</span></p>
<p>It is impossible to look at this image with a historically innocent eye. It comes to us today, as it did to viewers in 1963, replete with the poignancy of the conditional. The principals in the photograph, frozen in history, are forever poised on the precipice, <span style="line-height: 1.5em;">about to suffer-he to die, she to scream-and Lyndon Johnson, that minor bumbling character who can be seen bending over behind Jackie, about to become the most powerful man in the world.</span></p>
<p>The photograph has the formal density of a carefully constructed painting. It is ?lled with intriguing visual symmetries and repetitions. Consider, for example, how the notched lapel of the ?rst lady's suit echoes that of her husband's, but more loosely and expansively, or how the stripes of his shirt connect to the broad blue stripe on the jet and the stripes of the ?ag, as well as to the piping on her suit and the subtle striped pattern in its warp and weft. Note, too, how the geometric pattern of his necktie, with its neat rows of rounded rectangles, harmonizes with the bouclé fabric of her wool jacket as well as with the row of porthole windows on the jet and the three zeroes of the plane's call number lined up beneath the ?ag. The president's pocket handkerchief, the vice president's white carnation, and the ?rst lady's white glove form an inverted triangle, compactly framing her. Particularly delicate is the way husband and wife ?eetingly touch arms, his hand going one way, hers the other. Regardless of its original journalistic purpose and subsequent historical signi?cance, the Rickerby pho- tograph stands on its own as a richly complex visual artifact.</p>
<p>The accompanying text from <em>Life </em>commences, "Now in the sunny freshness of a Texas morning, with roses in her arms and luminous smile on her lips, Jacqueline Kennedy still had one hour to share the buoyant surge of life with the man at her side." Here is that sense of the conditional I mentioned that is the staple of legends about heroes, saints, and martyrs. <em>Life</em>'s designers laid out the opening two pages of the re- port so that Jack, on the far left, seems almost to look past Jackie to the facing page, on which an uncaptioned black-and-white photo shows a bouquet of white roses aban- doned on the back seat of the vice president's car. The direction of his gaze, as in Re- naissance paintings, establishes a before-and-after narrative: triumphal entry of the hero on one side and on the other, as if he alone foresees it, a melancholy emblem of his imminent martyrdom.</p>
<p>Mrs. Kennedy carries a bouquet of red roses. Apparently all the local ?orists were<span style="text-decoration: underline;"> </span><span style="line-height: 1.5em;">sold out of yellow roses because of the many Democratic festivities planned. (The yellow rose is popularly associated with Texas, though the state ?ower is the bluebonnet.) Red was the next-best color available for welcoming the ?rst lady. Lady Bird Johnson, the vice president's wife, and Nellie Connally, the governor's wife, according to William Manchester, received white roses. </span><em style="line-height: 1.5em;">Life </em><span style="line-height: 1.5em;">shows one of those bouquets left behind in the vice president's car; the other (whose roses look yellow, not white, despite Manchester's account) can be seen in the Zapruder ?lm ?ying out of Mrs. Connally's arms when the president's head shatters.</span></p>
<p>Red roses have a long-standing tradition. Since the Middle Ages they have signi?ed the spilling of holy blood, the martyrdom of a saint. <span style="line-height: 1.5em;">Although it was pure happenstance that Mrs. Kennedy received red roses instead of yellow, and though no one at Love Field, including the photographer, had any idea what was to take place a mere eight miles away, in retrospect-the only way in which anyone has </span><em style="line-height: 1.5em;">ever </em><span style="line-height: 1.5em;">viewed this photo-it prophesies death to come. It is a modern-day equivalent to a late Gothic or early Renaissance painting such as Stefan Lochner's </span><em style="line-height: 1.5em;">Madonna in the Rose Garden </em><span style="line-height: 1.5em;">(1450) or Martin Schongauer's </span><em style="line-height: 1.5em;">Madonna and Child in a Rose </em><em style="line-height: 1.5em;">Arbor </em><span style="line-height: 1.5em;">(1473), both of which count on the viewer to invest the lovely red ?owers on display with a sense of the mortal tragedy to unfold. Although the roses in the photograph in no way predicted the assassination, they have given that photo a sense of ineluctable tragedy, conferring on John Kennedy, whose political ratings were slipping, a beati?c aura he did not possess at the time of his death.</span></p>
<p><div class="KonaFilter image-container display-table float_right"><div><div class="image"><p class="source"><a href="http://www.amazon.com/Shooting-Kennedy-JFK-Culture-Images/dp/0520229851">www.amazon.com</a></p></div><p></p></div></div></p>
<p>Indeed, under normal circumstances an alternative cultural signi?cation would have emerged from the photo. From ancient Rome to the Tournament of Roses parade in Pasadena each New Year's Day, roses have also been a sign of victory, pride, and triumph. That meaning is still visible in the Love Field photograph but inevitably tinged with a sad or bitter irony.</p>
<p><em>Republished with permission from <em>"<a href="http://www.amazon.com/Shooting-Kennedy-JFK-Culture-Images/dp/0520229851">Shooting Kennedy: JFK And The Culture Of Images</a>" by <a href="http://users.wfu.edu/lubindm/">Professor David M. Lubin of Wake Forest University</a>.</em></em></p>

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