The government has been investigating oil speculators for the past six month, it revealed today. Not many details were released, but the focus of the investigation is possible price manipulation.
Oil prices are up 42 percent since December. See article here.
The next time your trash bill comes, think about how angry you would be if someone started stealing it before the garbage man came in the morning.
Angry? You'd be delighted, right? No more having to pay the bill if someone hauls it away on a regular basis free of charge. But who would want to steal your trash, right?
Because spam is so cheap and last seemingly forever, its sales are up and maker Hormel sale profits increase 14 percent in the second quarter.
You can check the full story here.
Are you buying more spam? Or what other measures are you taking to deal with rising food prices?
My wife and I don't get to the movies very often, but we were talking for months about going to see the new Indiana Jones flick. Then, those who went before us had a warning: Don't waste your $9.
Wait, what did they say? The movies are $9 per ticket?!!! Definitely not going now, especially with the reviews I've been hearing from people I trust making it sound like Rocky V.
So instead of the relief from day-to-day monotony found in a cinema, I took my fly rod and waders and took off toward Delta, stopping just short of the hamlet for a little Sulphur and Rusty Spinner action on Muddy Creek near Bruce. I already paid for my fishing license, so it was free.
Well, pretty much free. It used to be pretty much free.
So I went home this weekend and visited a friend of mine who is into demolition derby. He's working on a car that runs on alcohol because it supposedly lights on fire less easily (I've been to his demo derbies, and that's a large problem).
Anyhow, he said the fuel is cheaper than gas -- only $3 per gallon. Wow, I thought, why doesn't everyone start doing this.
Then, like the ethanol boom that hasn't been, he dropped the other shoe. His car eats alcohol about three times faster than gas. So it's actually about $9 to do what $4 gasoline would do.
Do you think we'll ever come up with an easy alternative to gasoline?
Another week's just about over and we have a long, holiday weekend to look forward to. I'm excited and I'm sure you are too.
But before we part ways until Tuesday, here's a quick look at the top business news.
For hundreds of years we have been discriminating against the blind.
No one is buying high-priced clothes because the economy stinks.
Hate to beat a dead horse here: Oil prices are up.
Let's add another fee to air travel.
Nothing like high gas prices to make me want to get away this weekend.
If that news all depresses you, just think in a few hours you can be sipping one of these in one of these.
Hybrids may have been hip, trendy cars a few years ago, but now for some people they are becoming a necessity as gas prices continue to rise.
Because they are in such high demand, car dealerships are seeing them fly off the lots.
One dealer quoted in this story said, "I'm selling every one I can get my hands on. The day the car comes in is the day the car goes out,."
He has a 30-day wait list for the Prius and only one Camry hybrid left on his lot.
Have you considered buying a hybrid to help with the gas costs?
Apparently it's not worth it anymore to let your engine run when you are stopped instead of idling it. Modern fuel injection takes care of those problems, so just turn your engine off when you're going to be stopped for more than a few moments.
That was just one of the good fuel-savings tips in an article I saw on CNN this morning.
The list was one big duh (don't tailgate or drag race away from traffic lights and stuff like that) until I got to No. 5. That one was a paragraph filled with a bunch of old wives' tails about idling your engine that were contradicted. No. 6 wasn't bad either.
To see the list, click here.
Perhaps because he had so few finances to manage while we were growing up, my father kept his financial advice simple:
Always pay yourself first.
Four simple words. Yet this concept is almost guaranteed to make a millionaire out of anyone who adheres to it.
Here’s how it works:
This morning, my phone rang, and on the other end was John Shelley, owner of John Shelley's Garden Center and Nursery, a southern York County landscaping business that caters to those who want new landscaping designs for their homes using higher-end plants.
And after two minutes on the phone, I wish I would have gotten him into a story that was already in today's paper.
What he told me was this: He got out of the vegetable gardening business years ago, but starting recently, his ornamental landscaping customers began requesting something a bit odd. They wanted raised garden plots - patches framed with timbers for growing vegetables -incorporated into their designs.
"People want to grow a Victory Garden in their backyard," Shelley told me, referencing a government initiative during World War II.
No, it wasn't in the middle grade or premium column. It was for regular. Saw it on my way in to the office this morning on Carlisle Road.
Last night, I was relaxing in my living room watching a not-so-cool Arnold Schwarzenegger movie when my door bell rang. Standing on my porch was my next door neighbor tying to explain that a man was in her home vacuuming her mattress.
Ok, you have my attention. I'm listening.
It seems that a door-to-door vacuum cleaner salesman has talked himself in to her home and, at the moment, was demonstrating for her husband the magical powers of said super sucker. Like her husband, I too was impressed with the cleaning ability of this space-aged vacuum cleaner.
If you didn't file your taxes electronically the last time around, your stimulus check is coming in the mail, but it's taking longer than those getting direct deposits because they did file electronically.
I just wanted everyone who is electronically challenged (like me) and back-burnered to know that the checks are finally showing up. I got mine yesterday in the mail. What glee! I'm rich!
I began thinking about all the things it could pay for:
* Three months of car payments
* Three months of student loan payments
* A month's rent
* Utility bills for the next two to four months
"Wow," I thought. "I'm on easy street. No bills for a full month, I can go out and stimulate the economy by buying crap I don't need."
Technically the free gas giveaway at Rutter's doesn't start until next Monday, but I still wanted to fill you in because right now I love the thought of free gas.
Basically if you stop by a Rutter's from May 26 to Aug. 24 and buy select convenience store specials you receive an entry form. The more entry forms you collect the better chance you have of winning.
There will be four drawings to select the four winners.
You can check here for all the details on how you could possible win a gas card worth more than $8,000.
Just before you leave work, here's the big biz stories of the week.
Oil prices keep climbing.
Who's surprised the Saudis aren't going to produce more oil?
We're not going to put oil in reserves anymore.
Pamper the cows and they'll produce more milk.
Craigslist is throwing punches.
The big story on Money & More this morning (Tightening up on tips) is about how people who earn tips are suffering as people who give tips tighten their purse strings. It's a story my mother could have seen coming in this economy.
Mom worked a lot of part-time jobs when we were growing up. Most involved long hours on her feet, smiling at unsmiling people. They usually relied on tips. And when you really rely on those tips, you learn how to get blood from a stone.
One of the most valuable lessons she ever taught me came on the night of Nov. 6, 1979; the night Ronald Reagan defeated Jimmy Carter in the presidential election. Mom knew that would be a prime night to earn tips.
When our religion reporter was at the gas station this morning, she heard one customer saying he put more than $73 worth of gas into his tank. Ouch.
Food prices made the biggest jump they've made since 1990 in April increasing 1 percent, but while that number may be troubling for some, the Bureau of Labor Statistics is taking a more positive look.
According to the number released yesterday, core inflation, which doesn't include gas and food prices, rose only 0.1 percent.
The story of my colleague Sean and I fixing his lawnmower on our own began to circulate in the office the other day. It started with a murmur on the other side of the room, and before I knew it, two of our editors were next to my desk.
I don't want to think about the hours of time in classes they spent (and that I have spent for that matter) to learn a specialization, only to have something so basic to everyday life as getting the lawn mowed be a blind spot of knowledge.
This is Steve. It's also how April is spending her stimulus check. Read on for more details.
I have to give major props to the Consuming Interests blog at the Baltimore Sun for introducing me to the best link ever.
Seriously, I'm not exaggerating, How I Spent My Stimulus is hilarious.
People from all over the country send in pictures and little blurbs of what they are doing with the money from Uncle Sam.
Here's a sampling of what people said:
Don't think that you're the only one using your tax rebate check to pay for gas and food while your friends are out buying big-screen TVs and clothes. A National Retail Federation survey has found that more people are spending the bulk of their checks on necessities like gas and food than discretionary purchases. Check out the survey. How have you spent your check?
Consumer sales dropped 0.2 percent in April, according to the Commerce Department.
The biggest drop was seen in the auto industry, where sales dropped 2.8 percent reflecting the problems the auto industry is having because of high gas prices.
If you remove the auto industry from the equation, consumer spending actually rose 0.5 percent in April.
Economists say this increase shows a resilient American consumer even though times are tough.
Growth in 401(k) plans has slowed in recent years, in contrast to the expansions they saw in previous years, but those who had plans were accumulating considerable wealth, said Craig Copeland, the author of the the Employee Benefit Research Institute study today.
Here's a quick rundown of what the study found according to the news release.
That's the picture emerging from a recent study by the Bureau of Labor Statistics. I glanced at this at first, and figured someone was reaching a bit for conclusions. Then I took a look at the numbers.
In roughly the past six months, women have gained about 300,000 jobs. Men have lost 700,000 jobs. Check out the reasoning yourself and see if you agree.
As we're about to close out another week, it's time for the weekly round up of top biz stories this week.
Speed networking is all the rage.
The Business and Tech expo was on Tuesday.
First quarter homes sales weren't so good.
Even fairly well off people are turning to discounters.
Flying just keeps getting more expensive.
And because I hate to leave you with depressing news on a Friday afternoon, check out this video shot by photographer Paul Kuehnel.
Right now, my home is a pile of clutter three times what the quarter-house apartment can hold. It's my wife's belongings (we just got married), my belongings from my previous apartment, and all the stuff we got for wedding presents so we could start our lives together.
Too much stuff. I just want to purge. But I just can't. It's possibly stuff someone could use. Or maybe not. How did it get this bad?
Do you feel like clutter is imposing on your life? What do you do about it?
When money gets tight, you'd be surprised what you can do yourself. My colleague here on the business staff broke his lawn mower the other day, and it sounded like a simple fix, so I decided to help him out with it last night.
It was either that, or he would have to pay a few hundred dollars for a new lawn mower, or get put on a two-week waiting list at the local repair shop.
No offense to my father and mother, my sister, and my new cousin-in-law. But I don't want to drive an average of 400 miles per weekend to see them for the rest of this month.
But these people are close to me. They are family. I want to cut out the driving, not seeing them.
So really, what are my options here?
The York County Chamber of Commerce Business and Technology Expo is tomorrow at the Toyota Arena.
According to the news release, here's a few things you can expect to see if you check it out:
* Integrity Bank will focus on their Express Banker remote banking product. The bank provides a desktop scanner that allows a customer to make all of their business deposits of checks from the convenience of their desk.
* Dallastown Area School District is demonstrating a “smart” classroom highlighting the use of laptop computers, LCD projectors, a smart board—an electronic whiteboard—and student response systems, as well as using software to show the educational uses of these tools.
I'm trying to get as much mileage as I can out of my trip to Europe last month. The way the economy is going, it's the last time I'll be there until after I'm dead. And that's only if I get cremated and my ashes get blown all the way across the Atlantic.
Anyway, they have a lot of these Smart cars over there, and I think the coolest thing at first glance is that you can back into a parallel parking spot, with your bumper to the curb and the hood toward traffic. And you still don't stick out any farther than a normal sized car.
I wanted one.
Then I got back to the states, and realized why no one has one here: SUVs.
While the weekend forecast might not be looking so sunny, I think we can all agree that Friday afternoons are a bright spot in the week because the weekend is thisclose.
To help you make the final push through the last few hours of the week, check out the hot business stories of the week.
You probably shouldn't be resting your eyes at work.
Have you gotten your rebate check yet?
Everyone's trying to figure out what the falling gas prices mean.
Rice is in short supply.
Things look good for Comcast.
Call me a conspiracy theorist. But, it seems odd that now, when people have started to receive their tax rebate checks, that gasoline prices have started to drop. If one were to speculate, one could deduce that the fall in gas prices are working to lull people into a false sense of financial security allowing them to be more free with their discretionary income, or tax rebate funds. It's just a theory. What do you think? Will gas price jump again?
Did anyone notice that regular gas prices have dropped? Local regular gas prices dropped 0.3 percent today from a Wednesday high of $3.644 to $3.633 per gallon, according to AAA’s Daily Fuel Gauge Report. Do you think gas prices will continue to drop or is this just a minor speed bump on our way to $4 a gallon?
Are you getting ulcers from layoff worries and want to find something with a little more job security, but don't know where to start?
Perhaps it's time to get back to basics, and ask yourself this question: If you were a customer, how bad would things get before you would stop buying the product you are selling or making, or service you are providing?
I have a laptop that blew up on me going on two years ago. I haven't fixed it. My wife and I have a desktop that serves our needs OK. I can spend that money elsewhere, like on food.
I did a story the other day about Glatfelter's push into making coffee and tea filter papers. No one will give up a morning cup of coffee or tea until well after they've started sewing their own clothes and supplementing their grocery shopping with the backyard garden, or so the logic goes.
It's an example of a company looking to make their business as recession-proof as they can.
Are you plotting a move to a "safer" career? If so, let us know where you are now and where you want to go.
