Archive for November 17th, 2007

High cost lowers demand for premium gas

Saturday, November 17th, 2007

If you’ve tuned into the financial news lately, you know that oil prices have fallen dramatically in recent weeks. As I write this, the price of a gallon of regular is now about $3.70 on average nationwide.

That’s encouraging, but the fall has not happened as quickly as the rise. So consumers are right to remain concerned.

There’s another trend that may help consumers at the pump, and that’s a subtle turn away from premium-grade gasoline by automobile manufacturers — mostly Ford and General Motors — and an even greater shift among consumers.

(more…)

Posted in Auto | Comments Off

The facts on the FDIC

Saturday, November 17th, 2007

Barely a day has gone by during the past several weeks without a mention in the news of the FDIC, the agency that is best known for handling the disposition of the assets of failed banks and making sure consumers receive their insured deposits.- advertisement -

To date, failures due to the current crisis in the financial world haven’t caused undue concern. But the size of some of these institutions, such as IndyMac, have some people wondering how much the FDIC can handle before it needs a bailout.

The FDIC doesn’t receive any tax dollars; instead it’s funded by the premiums paid by banks and thrifts for insurance coverage on deposits. Its deposit insurance fund is really just an accounting entry with the Treasury Department.

(more…)

Posted in Today's stories | Comments Off