Kevin Horan: December 2008 Archives

Michael Ohl, of Red Lion, took out a $58,000 home equity line of credit from Sovereign Bank during the summer to install a pool in his backyard -- something he had wanted since building his house in 1994.

Taking out the line of credit made Ohl eligible for Sovereign's sweepstakes, which he won.

The prize: $50,000 toward his home equity line of credit, meaning he'll only have to pay back $8,000.

Imagine that -- taking out a hefty loan, only to find out later that you only have to pay back a small portion of it.

What would you do in a situation like that? If you could take out a $50,000 loan, knowing you wouldn't have to pay it back, how would you spend the money?

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In other business news today, Sean Adkins reports on fines levied against the York Casket Co. by the Pennsylvania Department of Environmental Protection.

Last week, the Hess station at 253 S. Queen St. charged $1.69 for a gallon of regular gasoline.

Meanwhile, the Hess station at 1129 W. Market St. charged $1.61.

Aren't all Hess stations the same?

Apparently not. Chris Stremmel, who works at the South Queen Street Hess station, explained that it is independently owned by his father. Since gas prices began their rapid descent last month, independently owned stations have had to charge more for a gallon of regular gasoline than their corporate-controlled counterparts.

You can read all about it in the 'Money & More' section of Tuesday's York Daily Record.

In the meantime, the Associated Press is reporting that the price of crude oil, gasoline and heating oil are on the rise.