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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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  1. Airbag maker Takata bankruptcy filing expected in Japan, U.S.


    DETROIT — Japanese airbag maker Takata Corp. has filed for bankruptcy protection in Tokyo and the U.S., overwhelmed by lawsuits and recall costs related to its production of faulty air bag inflators.

  2. Federal agencies demand records from SeaWorld theme park


    ORLANDO — Two federal agencies are reportedly demanding financial records from SeaWorld.

    Killer whales Ikaika and Corky participate in behaviors commonly done in the wild during SeaWorld's Killer Whale educational presentation in this photo from Jan. 9. SeaWorld has been subpoenaed by two federal agencies for comments that executives and the company made in August 2014 about the impact from the "Blackfish" documentary. 
[Nelvin C. Cepeda/San Diego Union-Tribune/TNS]
  3. Legalized medical marijuana signed into law by Rick Scott

    State Roundup

    TALLAHASSEE — Gov. Rick Scott on Friday signed into law a broader medical marijuana system for the state, following through on a promise he made earlier this month.

    Gov. Rick Scott signed legislation on Friday that legalizes medical marijuana in Florida.
  4. Line of moms welcome Once Upon A Child to Carrollwood


    CARROLLWOOD — Strollers of all shapes and sizes are lined up in front of the store, and inside, there are racks of children's clothing in every color of the rainbow.

    At Once Upon A Child, you often as many baby strollers outside as you find baby furniture and accessories. It recently opened this location in Carrollwood. Photo by Danielle Hauser
  5. Pastries N Chaat brings North India cuisine to North Tampa


    TAMPA — Pastries N Chaat, a new restaurant offering Indian street food, opened this week near the University of South Florida.

    The menu at Pastries N Chaat includes a large variety of Biriyani, an entree owners say is beloved by millions. Photo courtesy of Pastries N Chaat.