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Talk of the bay: At last, all the money we make is actually ours

By Times staff
Published April 28, 2007

Here's a reason to get up and go to work next week: You'll finally be working for yourself instead of the government. Florida TaxWatch calculates that Sunday is "Florida Taxpayer Independence Day." The group figures that every dime you've earned from Jan. 1 through today was needed to pay your federal, state and local tax obligations. Or to put it another way, nearly a third of the average Floridian's income goes to taxes of all varieties. Independence day falls on the same day this year as last year, but it's seven days later than it was in 2004 as the tax burden has grown.

Delta to take off bankruptcy-free
For the first time in a year and a half, you won't see the word "bankrupt" in front of Delta Air Lines in news stories Monday. That's when the third-largest U.S. airline and No. 2 at Tampa International Airport officially exits bankruptcy court protection. Delta will unveil a new aircraft paint scheme Monday that reportedly will bring back the airline's triangle-shaped logo, nicknamed "the widget." Employees who endured deep pay and benefit cuts will receive cash payouts Tuesday under the final bankruptcy settlement. Company stock resumes trading Thursday on the New York Stock Exchange. Executives will ring the opening bell from Hartsfield-Jackson Atlanta International Airport, then fly to New York to ring the closing bell on the exchange floor.

Banker given honor of special interest
Hugh McColl Jr., the banker who arguably played as big a role as any in turning Florida into a banking colony, is getting another dose of national recognition in his retirement. McColl was named to the U.S. Business Hall of Fame this week, joining a class that included such notables as Black Enterprise magazine founder Earl Graves Sr. and Papa John's founder John Schnatter. As head of what eventually became Bank of America, McColl strung together a relentless parade of deals that turned his Charlotte, N.C., institution into Florida's biggest bank - at least until recently rivaled in this state by competitor Wachovia. McColl's crowning deal from a Florida perspective: snapping up Florida's homegrown Barnett Banks, which, at the time in 1997, was the state's biggest.

[Last modified April 27, 2007, 23:16:19]