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

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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.