5 big stories of the week

By Times Staff Writer
Published February 25, 2007

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1. Pressure builds on Universal

Universal Health Care faces liquidation if it doesn't raise roughly $200-million in reserves by March 23.

WHAT IT MEANS: A state-appointed receiver may be appointed to oversee more than 80,000 members in the St. Petersburg company's Medicare plan.

2. Sirius and XM propose marriage

The two giants in subscription satellite radio want to merge.

WHAT IT MEANS: The deal would unite media superstars Howard Stern and Oprah Winfrey. But early Wall Street money is betting regulators won't embrace a merger.

3. Jet company goes for public spin

Clearwater-based Avantair wants to go public, using investor funds to buy more jets.

WHAT IT MEANS: With the money, Avantair could more than double its fleet in the fast-growing niche of selling companies fractional ownership of corporate jets.

 

4. Catalina Marketing weighs buyout offer

Hedge fund ValueAct Capital Management bids $1.55-billion to take the St. Petersburg coupon distributor private.

WHAT IT MEANS: ValueAct, already Catalina's biggest shareholder, could be trying to trigger an auction. It would cost Catalina $230-million to buy the hedge fund out.

 

5. JetBlue offers passengers a bill of rights

The airline, hit hard by massive weather-related delays a week earlier, pledges to pay passengers when they're stuck on the ground or bounced.

WHAT IT MEANS: JetBlue is flying solo on this one. The top carriers, who are more likely to bounce passengers, are steering clear of putting such promises in writing.