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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 October 28, 2007

1. WellCare offices raided

About 200 FBI agents seized records at the Medicare insurer's Tampa offices Wednesday.

What it means:The nature of the probe was under wraps as of Friday. But WellCare is paying a steep price, shedding $3-billion of its $5-billion market cap in a stock freefall Thursday, then losing nearly an additional $700-million in value Friday.

2. Tampa gets Charlotte envy

Tampa business leaders visit Charlotte, N.C., seeking tips on revitalizing downtown.

What it means:What's Charlotte have? Start with a low office vacancy rate, wealthy hometown corporations and a new $463-million light-rail commuter line.

3. Emerge Tampa crosses bay

The Tampa chamber of commerce program for young professionals will expand to encompass North Pinellas.

What it means:Chambers of commerce aren't known for working together, but Clearwater chamber leaders didn't want to reinvent the wheel.

4. SRI inks maritime deal

In the biggest deal in its short history, SRI's fledgling St. Petersburg operation wins a $36.5-million contract to upgrade port security.

What it means:The integrated security system, developed for the ports of Tampa and Manatee, could become a national model.

5. Tab for business travel headed up

American Express' annual survey predicts an average business trip will rise 4 percent for domestic travel and 8 percent for international travel.

What it means:Blame three factors: packed flights, high oil prices and high-occupancy hotel rates.

[Last modified October 26, 2007, 21:10:35]