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 February 3, 2008
1. Microsoft targets Yahoo
Microsoft makes an unsolicited $44.6-billion bid for the ailing search engine giant Yahoo.
What it means: The proposed acquisition, the largest by Microsoft, would create a more formidable competitor to Google and perhaps spark more consolidation.
2. Ex-workers sue U.S. Sugar
A suit accuses U.S. Sugar of secretly rejecting a $575-million buyout offer and then paying its fired CEO $10-million not to talk about it.
What it means: The sugar giant counters that it didn't disclose the bid to employee shareholders because it was too low to be considered. But a court fight could open up the private company to rare public scrutiny.
3. Tousa files for bankruptcy
The developer of Live Oak Preserve in New Tampa vows to continue operating as it files to restructure.
What it means: Tousa follows Levitt & Sons as the second Florida home builder to seek bankruptcy protection in the wake of a severe housing downturn.
4. Slots arrive in South Florida
The Seminole Hard Rock Casino in Hollywood rolls out Las Vegas-style slot machines.
What it means: A deal with the state allowing the expanded gaming will pour millions into the state's hard-hit budget, unless it's sidetracked by a legal challenge.
5. SEC stuns Stinger
Regulators accuse Robert Gruder, CEO of the Tampa stun gun maker, of misleading investors.
What it means: The suit backs up allegations stemming back to 2004 when Stinger's price quadrupled on its first day of trading.
[Last modified February 1, 2008, 21:00:49]
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