5 Big Stories

A look back at the week in Business

By Jeff Harrington, Times Deputy Business Editor
Published June 3, 2007

---

1. Harry Potter to hit Orlando

Universal Orlando reveals plans for a theme park called the Wizarding World of Harry Potter.

WHAT IT MEANS: Universal trumped Disney in a rare chance to capitalize on J.K. Rowling's blockbuster series. The park, which will be part of Islands of Adventure, could be an elixir to Universal's sagging attendance.

2. Tampa tower loses Trump

"The Donald" sues and severs ties with local developers planning to build a downtown Tampa high-rise.

WHAT IT MEANS: Without Trump's name, the project planned as the highest skyscraper on Florida's west coast could be doomed. Local development team SimDag has been dogged by contractor suits, construction delays and a sharp downturn in the condo market.

3. Google's world view widens

With its latest add-on, the popular search engine offers a "street view" panorama of activity in select cities such as Miami.

WHAT IT MEANS: The 360-degree image, captured by cruising public streets, may be intriguing but it has triggered privacy concerns.

4. Spain sues Odyssey Marine

Spain challenges the treasure hunters from Tampa on claims to three shipwreck discoveries.

WHAT IT MEANS: Odyssey Marine's roughest odyssey may be in the courts. Odyssey's stock nearly doubled after its recent find of a 17th-century ship became public, but it needs cash to handle a prolonged legal spat.

5. Wal-Mart scales back

The giant retailer says it will cut back on supercenter openings by more than 25 percent this year.

WHAT IT MEANS: Wal-Mart, whose mantra could be -"Always under pressure. Always" - is still searching for a way to boost sales. Less construction will help, plus it will cut its capital expenditures by $1.5-billion.