TBO.com - TBO is Tampa Bay Online

BIZ BITS

ADVERTISEMENT

The Tampa Tribune

Published: February 18, 2009

Liberty Investing In Satellite Radio

Sirius XM Radio staved off a possible bankruptcy filing Tuesday when Liberty Media agreed to invest $530 million in the ailing satellite radio company.

The deal ultimately could give Liberty Media Chairman John Malone, whose holdings include a 48 percent stake in El Segundo, Calif.-based DirecTV Group, a major stake in Sirius XM, the nation's only satellite radio provider.

Economy Halts High-Rise

A developers' attorney says a proposed $400 million New Orleans high-rise involving real estate mogul Donald Trump is on hold pending the recovery of the national economy.

Attorney Stephen Dwyer said Tuesday that developers hope to resume the high-end condominium and hotel project by the end of the year. Dwyer says it's not a matter of whether the project will go forward but how big it will be when it does.

City planners, who vetted the project in 2007, say that - as proposed - the building would be the city's tallest, rising 716 feet with a 126-foot spire.

Dollar Cuts Wal-Mart's Profit

Wal-Mart Stores Inc., the world's largest retailer, said Tuesday that its fourth-quarter profit fell 7.4 percent as it was hurt by the strong dollar and a charge from settling a labor lawsuit. The company also said first-quarter earnings could miss Wall Street expectations.

The Bentonville, Ark.-based discounter has been one of the few bright spots in retailing as it benefits from shoppers looking for cheaper options and focusing on necessities during the recession. But it is now being forced to adjust to the deteriorating economy.

A wire report

Share this:

Loading Comments...

Email Print

ADVERTISEMENT