‘Don’t Say Gay’ Florida lawmaker indicted on fraud charge

Florida state Rep. Joe Harding listens during a Local Administration and Veterans Affairs Subcommittee hearing in a legislative session on Jan. 13, 2022, in Tallahassee, Fla. Harding has been indicted for defrauding a loan program offered by the federal government to help small businesses during the coronavirus pandemic, officials said Wednesday, Dec. 7, 2022. (AP Photo/Phelan M. Ebenhack, File)

TALLAHASSEE, Fla. (AP) — The Florida lawmaker who sponsored the controversial law critics call “Don’t Say Gay” has been indicted on charges of defrauding a federal coronavirus loan program for small businesses, officials said Wednesday.

Federal prosecutors said Rep. Joe Harding, 35, illegally obtained or tried to obtain more than $150,000 from the Small Business Administration in pandemic aid loans. He is being charged with two counts of wire fraud, two counts of money laundering and two counts of making false statements.

Harding, a Republican, became nationally know this year over his sponsorship of a law that forbids instruction on sexual orientation and gender identity in kindergarten through third grade, as well as material that is not deemed age-appropriate.

Harding did not immediately return an emailed request for comment. A voicemail left at his office was not immediately returned. It is unclear if he has hired a lawyer.

The Republican speaker of the Florida House of Representatives has temporarily removed Harding from his committee assignments in the Legislature.

A trial is scheduled for Jan. 11.

This article presents seven large-cap stocks that are regarded as cheap based on their price-to-earnings ratio. The price-to-earnings ratio tells an investor how much they are paying per share for every dollar of a company’s profit.

You can find a stock’s P/E ratio by dividing its stock price by its earnings per share. That looks like this:

P/E Ratio = Stock Price/Earnings per share (EPS)

For example, if a company is reporting earnings of $3 per share and their stock is selling for $30 per share, the P/E ratio is 10 ($30 per share/$3 per share). Many investors will look at a benchmark index like the S&P 500 as their guide for defining if a company’s P/E ratio makes a stock cheap or expensive. At the time of this writing, the average P/E ratio for stocks in the S&P 500 was   14x to 17x. That is the range we’re using for determining if a stock is cheap.

Of course, what is considered a “good” P/E ratio may depend on the market sector. For example, technology stocks tend to have a higher P/E ratio than the S&P average because they are projected to have stronger earnings and stock price growth than the broader market.

View the Stocks Here

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