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The Tampa Tribune

Published: June 12, 2009

Sarasota couple sued by SEC

A Sarasota couple and two out-of-state men are accused of bilking investors in a Ponzi-like scheme, according to a lawsuit brought by the Securities and Exchange Commission. In a case filed Thursday, the SEC accuses John and Marian Morgan of Sarasota, Stephen Bowman of Omaha, Neb., and Thomas Woodcock Jr. of Rockwall, Texas, of running a fraudulent investment scheme in which they told investors they were investing in a secret but legitimate banking practice.

The scheme netted about $7.8 million from 150 investors nationwide in 2006 and later collected an additional $6 million, the lawsuit states. They are accused of improperly diverting some of the money to a Danish bank account and of paying off some investors with proceeds from additional investors.

Passenger traffic falls at TIA

Passenger traffic at Tampa International Airport declined 10.8 percent in May compared with a year ago to 729,629 departing passengers, according to airport figures released Thursday.

TV stations go digital today

Today, the nation's TV broadcasters shut off their analog transmissions and start broadcasting solely in digital. People who use an analog TV and antenna to receive free TV programming over the air have to take action to continue watching their favorite shows. Nationally, 2.8 million homes, or 2.5 percent, are not ready.

Your three options are to buy a new TV with a digital tuner, subscribe to cable or satellite service or purchase a converter box. Without cable, you will still need an antenna, but your existing one should work. For the best reception, get an outdoor antenna.

You have until July 31 to get a $40 converter box coupon from the government. To apply for a coupon, call 1-888-DTV-2009 or go online to www.dtv2009.gov.

Jobless claims hit record

The number of people continuing to claim benefits exceeded 6.8 million in the week ending May 30, the Labor Department said Thursday. That was the 19th straight weekly record, after a drop last week was revised to an increase.

And that doesn't include about 2.4 million people receiving benefits through federal and state extended programs, which can add up to 53 weeks to the 26 weeks provided by most states. That means about 8.5 million people received unemployment insurance in the week ending May 23, the latest data available, triple the total of a year ago.

GM near a deal on Saab

General Motors Corp. is nearing a deal to sell its Saab unit, but nothing has been finalized, a person briefed on the negotiations said Thursday. The news came as Swedish broadcaster SVT reported that Swedish luxury sports car maker Koenigsegg Automotive AB and Norwegian investors are planning to buy Saab.

The person would not identify the final bidders for Saab but said news could come "shortly," perhaps as early as today.

A staff and wire report

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