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5 Big Stories: The Week in Business

A look back at the week's top Business stories

By Jeff Harrington, Times Deputy Business Editor
Published June 24, 2007

1. Florida is back on top

Florida regains the top spot from California in a national survey of tourists' favorite vacation spots.

WHAT IT MEANS: Last year's California triumph was the first time in 14 years the Sunshine State wasn't No. 1. But with California breathing down as a very close second this time, there's not much gloating.

2. Wal-Mart expands financial offerings

The retail giant is introducing a prepaid Visa debit card and rapidly adding Money Centers in hundreds of locations.

WHAT IT MEANS: Wal-Mart was rebuffed from a full push into national banking. Here's the next best thing: money centers that will offer check cashing, bill paying and money orders.

3. Home Depot sheds HD Supply

The Atlanta retailer sells its wholesale construction supply biz to private- equity investors for $10.3-billion.

WHAT IT MEANS: Home Depot had cobbled together the supply unit by buying St. Petersburg's Cox Lumber and Orlando's Hughes Supply. With the failed experiment, the trimmed-down Home Depot will focus on its retail business.

4. Blockbuster picks sides

Blockbuster will rent high-definition DVDs only in the Blu-ray format when it expands its high-def offerings next month.

WHAT IT MEANS: Blu-ray's arch-rival, HD DVD, has suffered a big setback in convincing consumers that its format will dominate in the future.

5. Housing smackdown for Hulkster

Pro-wrestling icon/reality TV star Hulk Hogan has put his Belleair estate back on the market seeking $17.9-million, down from the $25-million listing price before Hogan (a.k.a. Terry Bollea) took it off the market last year.

WHAT IT MEANS: It's a sign that the housing slump is affecting high-end homes as well as more modest dwellings.

[Last modified June 22, 2007, 22:22:51]