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Industry analysts predict $3.50 / gallon gas |
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Monday, 10 March 2008 |
 It's only just begun, or so they say. John Kilduff, energy analyst for MF Global, says that consumers should expect gas to reach $3.50 by late spring with some areas experiencing $4 a gallon. Unlike much of the speculation that has been priced into every barrel of oil Kilduff says that the latest price spike will be a result of decreased production and increased demand for refined gasoline. Ironically it's the low price of gasoline, in relation to crude, that has persuaded production facilities running at only 85% capacity. As it turns out the overall profit is so low given the price of raw materials that refineries have little incentive to rush seasonal maintenance and minimize downtime.
Gasoline's price spike has only just begun
While several areas will see prices over $4 a gallon, Kloza said he expects the nationwide average to peak somewhere between $3.50 and $3.75. Kilduff is calling for a high of $3.50, and Statts thinks we'll see the $3.30s.
All three analysts think prices will peak early, in April or May, then decline as the economy worsens and demand for gas - already flat or falling - continues to deteriorate.
"[The falloff in demand] that occurs around $3.25 a gallon takes a lot of the mojo out of gasoline," said Kloza. "These prices are real speed bumps for the economy."
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North Carolina may avoid recession |
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Monday, 10 March 2008 |
 A very rose colored take on the state economy if you asked me. North Carolina General Assembly researcher Dave Crotts says the chance of recession is one in three. Mike Helmar, who covers the state for Moody's Economy.com, says "We do not forecast that North Carolina will go into recession". Still I find it hard to believe that both the credit crunch and fallout in housing won't affect North Carolina. Though the state has shed traditional manufacturing jobs for service oriented employers I find it hard to believe a broad recession and decline in both cash flow and demand will not have an effect.
Experts: N.C. will skirt full-fledged recession
In no quarter in 2008 does Moody's believe North Carolina's gross state product, which was at $330 billion in 2007, will sink into negative territory. It would take two consecutive quarters in negative territory to make a recession, the classical definition.
Helmar says Moody's believes the U.S. economy will put up recessionary numbers in the first two quarters of 2008, but then improve, in part because of the effects of the recently passed tax-rebate stimulus package.
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Would Digg users sabotage a company buyout? |
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Sunday, 09 March 2008 |
Rumor has it that social bookmarking site Digg could be for sale and as a result the community is in uproar. Michael Arrington at TechCrunch cites several examples of community backlash which lead to action on the part of Digg's overseers. He surmises that if a potential suitor is found that the community could stage a very vocal protest should the buyer be someone as unpopular as Microsoft. Could this be the dramatic downside to social media or just the result of mob justice?
Digg Users Are Doing Their Best To Kill An Acquisition
Based on some of the comments to this story about Digg’s officially-not-happening (but happening nonetheless) acquisition, Digg users are getting all riled up for another fight. Particularly if the buyer ends up being Microsoft.
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Countrywide faces FBI inquiry |
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Sunday, 09 March 2008 |
Countrywide may have found a buyer but the company is not out of the woods yet. Sunday the New York Times ran a story stating that Countrywide could face an FBI criminal probe for securities fraud. Allegations range from accounting fraud and insider trading to the firm's questionable lending practices. What remains to be seen is the impact these investigations could have on Bank of America who agreed to buy Countrywide in January.
FBI starts criminal probe into Countrywide, reports NY Times
The FBI has begun a criminal inquiry into the largest U.S. mortgage lender, Countrywide Financial Corp (CFC.N), for suspected securities fraud as part of investigations into the mortgage crisis, The New York Times reported on Sunday.
Citing unnamed government officials with knowledge of the case, the Times said the investigation into whether Countrywide misrepresented its financial condition and the soundness of its loans in securities filings was at an early stage and it was not clear if any charges would result.
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First LIDAR unit deployed in Charlotte Mecklenburg |
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Thursday, 06 March 2008 |
 CMPD has unveiled its newest tool in deterring speed demons. LIDAR is a laser based speed detection system, which is effective at a range of 1000 feet, and is also difficult for radar detection devices to pick up. The first unit was donated by Wal-Mart Sam's Club and costs around $3,000. The CMPD plans to purchase more LIDAR guns but that decision will be affected by budgetary considerations.
Charlotte Police Use New Laser Technology To Nab Speeders
Charlotte Police wrote more than two dozen speeding tickets Tuesday morning in a 30-minute span.
Police are using a new detector specifically on interstates that targets drivers that police call "super speeders" or drivers that are going more than 70 mph.
It was an impressive sight on Interstate 77, with a line of motorcycles and police cars lined up along the I-77 ramp at Tyvola Road, just waiting to nab a speeding driver.
With CMPD's newest speed detector, the LIDAR gun, Officer Michael Retort never even has to move -- simply lock onto a speeding car using the gun's red laser. |
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