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Business today
By Wire services
Published March 25, 2006
Radio Shack closing 3 bay area stores Radio Shack will close three Tampa Bay area stores as part of a restructuring that will close 480 stores nationwide. Clearance sales will begin in May and the stores will be empty by Aug. 1, Radio Shack said. Two of the stores are in Largo, at 885 W Bay Drive and 12905 Walsingham Road, and one is in Tampa at 10025 N Dale Mabry Highway. Two Orlando advisers told to pay $8-million A bankruptcy judge has slapped an $8-million judgment on two former financial advisers linked to Evergreen Security Ltd., which bilked thousands of investors of more than $200-million while operating in Orlando in the 1990s. The judge ordered Jon Knight and Jack Anthony Huggins to pay almost $5-million in principal and $3-million in interest related to illegal loan transactions involving the Evergreen investment fund, court documents said. Through an offshore "sham corporation" called Mataeka Ltd., the Orlando advisers misled and defrauded Evergreen creditors by misappropriating millions of dollars from the fund, U.S. Bankruptcy Judge Arthur Briskman concluded in his ruling. Tim Hortons shares debut up 22 percent Shares of Canadian coffee and doughnut chain Tim Hortons Inc. jumped nearly 22 percent Friday in their trading debut on the New York Stock Exchange. The shares, trading under the symbol THI, rose $5.01 to close at $28.17, up from its initial public offering price of $23.16 per share set Thursday. They traded as high as $33. Nearly 26.5-million shares were traded. Yield on 5-year CDs at four-year high The average yield on five-year savings certificates of deposit has risen to 4 percent for the first time in nearly four years, Bankrate.com said Friday. The last time five-year CDs were paying that rate was in July 2002, said Bankrate.com, a financial information service in North Palm Beach. Creator of AltaVista search engine dies Paul Flaherty, a computer engineer who helped create the pioneering AltaVista online search engine, has died. Mr. Flaherty, 42, died March 16, 2006, of a heart attack at his home in Belmont, Calif., about 20 miles south of San Francisco, family members said Friday. Mr. Flaherty came up with the idea of indexing Web pages that made the AltaVista search engine one of the most popular Internet search tools in the mid 1990s. Google shares soar Google Inc.'s shares surged 7 percent Friday as Wall Street reacted to the company's addition to the Standard & Poor's 500 index on March 31. Google's shares soared $23.91 to close at $365.80 on the Nasdaq Stock Market.
[Last modified March 25, 2006, 02:38:21]
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