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5 Big Stories: The Week in Business

A look back at the week's biggest Business stories

By Scott Long, Times Staff Writer
Published July 22, 2007

1. State Farm dumps policies

State Farm, Florida's largest private insurer, will drop windstorm coverage on 50,000 policies near the coast by Jan. 1.

What it means: The insurer will focus more on inland policies, basically reconfiguring to shed riskier customers.

2. Get used to airline delays

Forty U.S. airlines canceled 20,301 flights in June, more than twice as many as the same month last year.

What it means: Myriad reasons are to blame, depending upon whom you ask, from outdated equipment to stormy weather.

3. Naming-rights deal fizzles

Amid concerns, Wayne Morgan decides against putting the name of his company on University of South Florida's Sun Dome.

What it means: Questions about Morgan and his company ultimately cost Action Sports Media, which brokered the deal.

4. Cigars embroiled in bill

Democratic lawmakers want to raise money for a children's health bill by boosting the federal taxes on tobacco products.

What it means: Designed to attack cigarettes, the bill also targets stogies. Makers say the tax will devastate business.

5. Deep discounts for Harry

Very few folks are expected to pay the $34.99 cover price for J.K. Rowling's new book, as Wal-Mart dropped its price to $17.78.

What it means: Competition among big chains will make it tough for independents to squeeze out any profit on the book.

[Last modified July 20, 2007, 21:41:08]