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Five big stories of the past week

1. Delta and Northwest

tie the knot

The proposed merger would create the world's largest carrier.

What it means: Combining two of the biggest players in the struggling airline industry could spark more mergers and possibly higher fares.

2. Talbots turnaround gets tougher

Two banks are cutting

back credit lines for the chain, which has seven stores in the bay area.

What it means: The apparel retail industry has yet to recover from a weak holiday season.

3. A holiday from gas taxes?

Sen. John McCain and Florida Gov. Charlie Crist float the idea of a summer break from paying federal and state taxes at the pump.

What it means: Such a reprieve, which could shave off more than 30 cents a gallon when filling up, has some popular appeal but is unlikely politically in a budget-cutting climate.

4. Odyssey unveils its secrets

Tampa treasure hunter Odyssey Marine is forced in court to reveal details of its sunken treasures.

What it means: Disclosing the identity of the "Black Swan'' ship found off the coast of Spain only intensifies Odyssey's

battle with Spain over ownership of the ship's estimated

$500-million cache of coins.

5. Blockbuster goes

after Circuit City

The troubled video store chain offers $1.1-billion for the

troubled electronics store chain.

What it means: Blockbuster paints the happy picture of

creating one-stop shopping convergence for home entertainment retailing. It's a long way from happening.

Compiled by Jeff Harrington, Times deputy business editor

Five big stories of the past week 04/19/08 [Last modified: Saturday, April 19, 2008 4:33am]

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