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Business today

New company to sell, rent extreme vehicles

By Times Staff
Published November 22, 2005

Extreme Innovations Inc., a newly formed Tampa company, said Monday it is starting a retail chain, Extreme Toys, that will sell and rent motorcycles, hovercraft, a three-wheeled speedster and other unusual vehicles. President and CEO Nazarith De Woodi said the first two stores will open next month in St. Petersburg and Tampa, to be followed in early 2006 by locations in five large U.S. cities. De Woodi said the company, whose stock currently trades on the pink sheets' over-the-counter market, will soon apply to be listed on the American Stock Exchange.

Ruling does little to settle Scripps saga

A federal court judge's ruling Monday did little to clarify the status of Scripps Research Institute's construction in Palm Beach County. U.S. District Judge Donald Middlebrooks said he may allow limited infrastructure work on adjacent land to support the 44-acre Scripps' campus at Mecca Farms, but it was unclear if that would be sufficient for Scripps' needs. County officials said they would discuss the latest ruling with Scripps, whose new campus is being underwritten with more than $510-million in state and county funds. Possible alternative sites for Scripps also will be a topic at the Palm Beach County Commission meeting today. The county has spent $17-million developing the Mecca site.

Study: Wal-Mart's prices often wrong

Wal-Mart Stores Inc. charged the wrong price to shoppers in California and the Midwest at a rate that exceeds those set by federal guidelines, according to two union-commissioned university studies released Monday. Attorneys general in Illinois and California said the reports raised concerns. The two studies said random purchases at 60 Wal-Mart stores in California found that the wrong price came up 8.3 percent of the time. At 78 stores in Illinois, Indiana and Michigan, check-out scanners rang up the wrong price 6.4 percent of the time. In both states, some prices were higher, some lower. The National Institute for Standards and Technology says that no more than 2 percent of items should have the wrong price.

T-bill rates mixed

Interest rates on short-term Treasury bills were mixed in Monday's auction, with rates on three-month bills rising to the highest level since April 2001. The Treasury Department auctioned $18-billion in three-month bills at a discount rate of 3.940 percent, up from 3.910 percent last week. An additional $16-billion in six-month bills brought a discount rate of 4.155 percent, down from 4.195 percent last week.

[Last modified November 22, 2005, 10:11:07]

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