Shareholders of The St. Joe Company ("St. Joe" or the "Company") (NYSE:JOE) are reminded of the securities class action lawsuit filed against St. Joe and certain of its officers. The class action (Civil Action No.: 10-cv-0504) pending in the Northern District of Florida is on behalf of a class of all persons or entities who purchased or otherwise acquired St. Joe securities, including purchasers and sellers of options during the period from February 19, 2008 through October 12, 2010, inclusive (the "Class Period"). The Complaint alleges violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder.

The Complaint alleges that throughout the Class Period, defendants made false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects. Specifically, defendants made false and/or misleading statements and/or failed to disclose that: (1) as the Florida real estate market was in decline, St. Joe was failing to take adequate and required impairments and accounting write-downs on many of its Florida based property developments; (2) as a result, St. Joe's financial statements materially overvalued the Company's Florida based property developments; (3) the Company's financial statements were not prepared in accordance with Generally Accepted Accounting Principles; (4) the Company lacked adequate internal and financial controls; and (5) as a result of the foregoing, the Company's financial statements were materially false and misleading at all relevant times.

On October 13, 2010, David Einhorn ("Einhorn") of Greenlight Capital Inc. detailed the need of the Company to take "substantial impairments" and accounting writedowns on many of its properties, and warned that further building by the Company would drive the stock price to zero. Einhorn's presentation noted that St. Joe's "development plans have fallen flat, leaving it with 'ghost towns' and inevitable writedowns." For example, Einhorn said he would "generously" place a value of $17.8 million on the remaining residential development at St. Joe's Windmark Beach property, while the Company is carrying the property at $164.5 million on its balance sheet. Einhorn also stated that the Company "was 'stuck' after making an aggressive bet on beachfront developments that have gone nowhere, and that it was overvaluing the real estate holdings on its books."

Ernst & Young LLP may be sued for fraud as early as today by New York Attorney General Andrew Cuomo for allegedly helping Lehman Brothers Holdings Inc. mislead investors, according to a person familiar with the matter.

Cuomo will be sworn in as governor on Jan. 1. The suit would relate to Ernst & Young’s audits of Lehman financial statements aimed at downplaying its liabilities, said the person, who wasn’t authorized to speak publicly about the case. The fraud suit would be brought under the state’s Martin Act, said the person, adding that a settlement is possible.

Richard Bamberger, a spokesman for Cuomo’s office, declined to comment. Charles Perkins, a spokesman for Ernst & Young, declined to comment. The Wall Street Journal said earlier today a lawsuit might be filed this week.

Lehman, once the fourth-largest investment bank, failed in September 2008 because of risky real estate bets and too much debt including Repo 105 trades, which it tried to hide from investors, according to bankruptcy examiner Anton Valukas’s report. Valukas, in the report, said Ernst & Young could be accused of “professional malpractice” for its role as auditor.

Repo 105 transactions are a form of short-term financing that Valukas said Lehman used to move as much as $50 billion off its balance sheet temporarily to show investors it wasn’t carrying too much debt.

Economists, pundits and politicians had little choice but to endorse the tax deal between President Obama and Congressional Republicans, because snapping back to pre-Bush tax rates would crush the economic recovery. But Washington exhibited not even the shadow of self-restraint and cut taxes far beyond what is needed or smart.

Newly emboldened Republicans demanded all the Bush tax cuts be extended. President Obama argued the country couldn't afford those for families in the highest tax brackets, but failed to apply such reasoning to temporary benefits bestowed on Democratic constituencies by his 2009 stimulus program.

Instead of compromising, with each side getting half of what it wanted, Washington feasted-everyone got everything they wanted and more. Business got its R&D tax credit and a temporary tax holiday on new investments. The wealthy got Bush-era tax rates and even lower rates through temporary elimination of income-triggered phase outs on deductions and personal exemptions. The poor and middle class got a temporary 33 percent cut in social security taxes.

Since Nancy Pelosi became speaker in 2007, government spending and the federal deficit have jumped from 19.6 percent of GDP and $161 billion to 25.1 percent and $1.5 trillion in 2011. Unfunded, increases in health care spending, the regulatory bureaucracy and fanciful experiments in industrial policy-windmills, electric cars and batteries, and the like-have bloated federal spending without credible plans to pay for it all.

Now Congress and the President compound those sins by both enacting additional "temporary" tax cuts that will be very difficult to ever let lapse. For example, thanks to Clinton and Bush tax cuts, the Social Security tax is the principal tax low- and middle-income workers pay-many pay zero or minimal personal income taxes.

The Securities Law Firm of Menzer & Hill, P.A., www.suemyadvisor.com, announced today it has filed an arbitration claim against vFinance Investments, Inc., a subsidiary of National Holdings Corporation (OTCBB: NHLD.OB ), for its failure to supervise one of its financial advisors who engaged in the unauthorized, unsuitable trading in speculative stocks resulting in the losses of an investor’s life savings.

Investors who have sustained losses due to the negligence and misconduct of their brokers are urged to explore their legal rights and options. The attorneys at the Securities Law Firm of Menzer & Hill, P.A. are dedicated to pursuing claims on behalf of investors who have suffered investment losses.

For a free case evaluation or to discuss any other investment losses, please contact the Securities Law Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com

It's the most significant new tax law in a decade, but what does it mean for you? Big savings for millions of taxpayers, more if you have young children or attend college, a lot more if you're wealthy.

The package, being signed Friday by President Barack Obama, will save taxpayers, on average, nearly $3,000 next year.

But many families will be able to save much more by taking advantage of tax breaks for being married, having children, paying for child care, going to college or investing in securities. There are even tax breaks for paying local sales taxes and using mass transit, and a new Social Security tax cut for nearly every worker who earns a wage.

Most of the tax cuts have been around since early in the decade. The new law will prevent them from expiring Jan. 1. Others are new, such as the decrease in the Social Security payroll tax. Altogether, they provide a thick menu of opportunities for families at every income level.

"The tax code wants to encourage people to invest in their homes, invest in their education, invest in their retirement, and you have to know about all of these in order to take advantage of it," said Kathy Pickering, executive director of The Tax Institute at H&R Block.