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June 27, 2002  
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Times 50Our annual report rates the 50 most successful public companies in the Tampa Bay area. Who's shaping our economy and why. Special report
Today’s headlines
Markets jolted; SEC smacks WorldCom with fraud charge
Just when stocks are thought to have seen the worst, another scandal has investors counting more losses.

Fallout: distrust, uncertainty
WORLDCOM: The latest scandal isn't a surprise to some. Others await the next financial debacle.

Fallout: distrust, uncertainty
MCI: Thinking of switching long-distance carriers? There's no need to, experts say, but many will.

Martha Stewart probe may widen; stock falls
NEW YORK -- Shares of Martha Stewart Living Omnimedia Inc. tumbled nearly 24 percent Wednesday, fueled by reports that the decorating maven may be facing a wider investigation of her sale of ImClone Systems Inc. shares, including possible charges of obstruction of justice and making false statements.

Business digest
HEALTH COST TAX RULES CLARIFIED: The IRS says that money employers provide for workers' out-of-pocket health costs will not be subject to taxes. The decision clears up a gray area by ensuring that money in these Health Reimbursement Arrangements that is left over at year-end can be rolled over to the next year tax-free. The IRS also set up specifics on how a plan qualifies for tax-free status. The ruling could clear the way for more companies to offer such benefits.




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