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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 February 17, 2008

1. The rebates are coming

President Bush signs off on an economic stimulus package that includes rebate checks that could exceed $2,000 for some families.

What it means:Even Social Security-only recipients who normally don't file taxes are eligible for a rebate. The "stimulus" problem: polls show most people will use the money to pay off debt (or save) instead of shopping.

2. Cable rivals raising prices

Verizon and Bright House Networks raise some prices for browsing the Internet and channel surfing.

What it means: The hikes are pinpointed and, in some instances, more modest than in previous years, as the two telecom giants continue their battle to win customers.

3. Tourism ads highlight woes

Pinellas County'stourism agency warn residents that they could lose their favorite restaurants if there's a 25 percent drop in tourists.

What it means: The political undertone to the message: persuading local governments to allow developers to build more hotel rooms per acre as now allowed by the county.

4. Holland & Knight chief to step aside

Howell "Hal" Melton Jr., head of the 1,150-lawyer Florida firm, won't run for re-election.

What it means: Melton, who told the company he wanted to avoid a divisive election, was praised by some for increased profits and criticized by others for painful cuts and how he handled a sexual harassment scandal in the Tampa office.

5. First boomer cashes in

Kathleen Casey-Kirschling, 62, becomes the first of the baby boomer generation to cash a Social Security check.

What it means:Brace yourself. The coming tsunami of retiring boomers is about to put unprecedented pressure on the Social Security system, ratcheting calls for a fiscal overhaul.

[Last modified February 15, 2008, 19:42:20]