Island property purchases on the rise
ANNA MARIA -- Two Anna Maria Island property owners have picked up a little more real estate on Manatee County's island beach destination.
On Aug. 14, Gail Temianka paid $1.58 million for a .38-acre waterfront property on the Intracoastal Waterway. County records show the lot is vacant.
Temianka, who lists a Holmes Beach condominium as a home address, bought the property from Roger and Sophaphan Davis. The Davis' purchased the property in 1983 for $170,000.
Three days later, Lawson Macarty, a Spring City, Pa., resident, purchased a new, five-bedroom vacation rental home at 122 White Ave. in Anna Maria for $1.5 million. Macarty previously purchased another home on the island at 313 Hardin Ave. for $925,000 in April, records show.
The home is listed for rent with Island Real Estate of Anna Maria Island.
Farm profits to fall second consecutive year
DES MOINES, Iowa -- It will be a less profitable year for farmers as low grain, milk and hog prices cut into income, U.S. Department of Agriculture officials say.
The abundance of grain leftover from last year's crop and 2015's anticipated harvest of the third-largest corn crop and second-largest soybean crop on record have kept prices below the cost of production, while the cost of seed, fertilizer and land has dropped only slightly.
Net farm income is expected to decline 36 percent to $58.3 billion, the USDA said in a report released Tuesday. That's down from last year's $91.1 billion and the lowest in nine years.
Just two years ago, net farm income was the highest ever, $123.7 billion. Last year, sliding grain prices were offset in part by record livestock prices. This year, both are down; crop receipts are expected to fall 6.2 percent and livestock receipts will be down 9.1 percent. Expenses, however, won't drop very far -- less than 1 percent.
The pinch will translate into many farmers having to dip into savings or increase borrowing.
Walmart to stop selling AR-15s, similar weapons
LITTLE ROCK, Ark. -- Walmart will stop selling the AR-15 rifle and other semi-automatic weapons at its stores because fewer people are buying them, a spokesman said Wednesday.
The AR-15 rifles and other modern sporting rifles were being sold at less than a third of the company's 4,600 U.S. stores. Company spokesman Kory Lundberg said Wal-Mart Stores Inc. will remove the remaining inventory as stores transition from summer to fall merchandise, which should take a week or two to complete.
Lundberg said the decision to remove the weapons was not political and that the Bentonville, Ark., retailer made the decision earlier this year.
Lundberg said stores would increase inventory of other models of shotguns and rifles popular among hunters.
-- Herald staff and wire reports