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    CNN Money: Top business headlines for May 17

    5:15 AM, May 17, 2013   |    comments
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    NEW YORK (CNN) -- CNN Money's Maribel Aber has your top business and financial news on this Friday, May 17.

    UA building successful startups, this year led by Picasolar
    Startups launched from the Walton Business College at the University of Arkansas in Fayetteville are earning both accolades at national business-plan competitions and money as viable, high-growth businesses. Picasolar is the latest graduate-level UA startup to fare well on the national business-plan circuit. Since 2008, the UA entrepreneurship program has launched 10 startup ventures that grew to become high-growth businesses. Those firms employ roughly 100 Arkansans and pay above-average salaries, and they've raised more than $16 million in private investments, grants and incentives.

    "Overworked" IRS unit treated like a "stepsister"
    The Internal Revenue Service group under fire in the current scandal was overworked, understaffed and lacked a layer of experienced middle managers, according to two former IRS employees. "You have agents muddling through, trying to do their best with the law they're given, the workload they're given and with the folks they have at that office," said former IRS attorney Philip Hackney, who worked in Washington from 2006 to 2011, and advised Lois Lerner, director of the unit that approved applications from groups seeking tax-exempt status.  Staffing was "too small" to "quickly and accurately" review the volume of applications it was dealing with, according to Hackney.

    Google Maps to get big, personal redesign
    Google Maps are getting personal. The next version of the widely used maps tool, previewed on Wednesday at the Google I/O conference in San Francisco, will soon have a different look and some splashy new features including displays of real-time accidents and personalized recommendations. The new Maps is only in beta, but people interested in testing it can sign up for an invitation at google.com/maps/preview.

    Summer air travel prediction: crowded airports and planes
    Airports will be crowded this summer and empty cabin seats extremely rare as Americans take to the skies in numbers that are expected to edge closer to the pre-recession peak. Nearly 209 million people will fly on U.S.-based airlines this summer, up 1% from last summer, according to a projection released Thursday by the trade group for the nation's airlines. The travel forecast by Airlines for America would mark the fourth year in a row that passenger totals have increased, climbing close to the all-time high of nearly 218 million in 2007.

     

     

     

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