The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every week on BoatingIndustry.com.
1. Florida Supreme Court upholds property tax shield for public marinas
Rejecting arguments by a private marina that said it was put at a competitive disadvantage, the Florida Supreme Court ruled that city-owned marinas are not required to pay property taxes, as reported by PalmBeachPost.com.
The unanimous decision, which focused on marinas owned by the city of Fort Pierce and the Fort Pierce Redevelopment Agency, raised constitutional questions about whether property-tax exemptions for government property should also apply to publicly owned marinas.
2. Trump announces revisions to parts of Obama’s Cuba policy
President Trump, denouncing what he called his predecessor’s “terrible and misguided” opening to Cuba, outlined a new policy Friday that seeks to curb commercial dealings with the government in Havana and to limit the newfound freedom of U.S. citizens to travel to the island, according to The Washington Post.
The details of Trump’s new policy remain unwritten. In a presidential directive he signed at the end of his speech, he ordered the Treasury and Commerce departments to draw up new regulations to replace elements of Obama’s policy changes. White House officials said that actual changes remain months away.
3. NMMA, Industry Allies Represented During Senate Committee Hearing on E15 Expansion
Senate Committee on Environment and Public Works held a hearing last week, on Senator Deb Fischer’s (R-Neb.) Consumer and Fuel Retailer Choice Act (S. 517) to expand the sale of fuel blends with 15 percent ethanol through the summer months, making it available year-round, according to the National Marine Manufacturers Association.
NMMA has been against E15 in the marketplace for years due to the serious threat E15 poses to boater safety, by way of the proven damage it causes marine engines. Prior to the hearing, NMMA and partners (MRAA, CSP, BoatU.S., TRCP and ASA) submitted a letter for the record outlining the industry’s concerns with the bill.
4. How Managers Drive Results and Employee Engagement at the Same Time
Harvard Business Review recently provided insights on how the best leaders are the ones who are results-drive and engage employees, and the traits =that allow leaders to achieve this.
“Our examination of 360-degree assessment data from more than 60,000 leaders showed us that leaders who were rated in the top quartile of both skills ranked in the 91st percentile of all leaders. It seems that not only is it possible to do both things well, but the best leaders are the very ones who manage to do both.”
5. Selling your business? Consider taking a gap year
Columnist James S. Cassell writes in the Miami Herald that while gap years are often associated with taking a break between high school and college, taking a break between selling your business and retirement is equally beneficial.
“I have witnessed highly successful individuals take gap years after selling their businesses, when they are not yet willing to retire but want to take some time off. They have used the time very wisely to attain even greater professional and/or personal success and fulfillment.”