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Smelling the sweet scent of taxpayer blood in the water, nearly one hundred automotive suppliers have signed a petition seeking access to the $3.5 trillion $700 billion granted under the Troubled Asset Relief Program (yes they're covering the problem with a TARP) the US government handed over to the financial industry with little or not regulation or oversight. This of course is far easier than standing up to ridiculous pricing demands from buyers at the not-so-Big Three and fighting against constant design changes that drive prices through the roof. Simplified, this breaks down to three steps. More »
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If you haven't been paying attention lately, the price of a barrel of crude oil has dropped over the last month, trading today at a 13-month low of $78.61 in mid-day trading. Analysts are pointing toward the continued disintegration of the financial markets which could lead to drops in global productivity and thus fuel consumption. The gaspocalypse is indeed easing as we've seen such craziness as above, regular on sale for under the $2.99 figure right at our corner fuel stop. Sure is a far cry from that trade-halting $120-a-barrel price spike three weeks ago. [CNN Money]
Check out Gawker Media's full Financiapocalypse coverage at Economy.Consumerist.com! More »
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