Saturday, October 25, 2008

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Pump prices return to levels of a year ago

Christian Smith doesn't break the bank at the pump these days. "I don't feel like I'm making life decisions when I go the gas station now," the West Ashley resident said as he pumped $5 in regular gasoline into his car Friday, paying $2.69 a gallon at a Hess Station on Sam Rittenberg Boulevard. A month ago he dished out at least $1 more per gallon for the liquid gold that carries him around Charleston.

Pump prices return to levels of a year ago

Christian Smith doesn't break the bank at the pump these days. "I don't feel like I'm making life decisions when I go the gas station now," the West Ashley resident said as he pumped $5 in regular gasoline into his car Friday, paying $2.69 a gallon at a Hess Station on Sam Rittenberg Boulevard. A month ago he dished out at least $1 more per gallon for the liquid gold that carries him around Charleston.

No cutbacks on bankers' pay

NEW YORK â€" Despite the Wall Street meltdown, the nation's biggest banks are preparing to pay their workers as much as last year or more, including bonuses tied to personal and company performance. So far this year, nine of the largest U.S. banks, including some that have cut thousands of jobs, have seen total costs for salaries, benefits and bonuses grow by an average of 3 percent from a year ago, according to an Associated Press review.

Fed exec: It's not the worst of times

A recent Time magazine cover showed the food lines during the Great Depression under the headline "The New Hard Times." If the idea was to compare then and now, it's not even close, according to Gerald Dwyer, vice president of the Federal Reserve Bank of Atlanta. "There is a lot of overwrought discussion," Dwyer told about 120 business students Friday at the College of Charleston.

Forecast looks brighter for holiday travel

ATLANTA â€" Minneapolis business manager Roque Rossetti plans to make his annual trip home to Sao Paulo, Brazil, for Christmas. The 35-year-old said the sagging economy gave him no second thoughts about shelling out $1,200 for the ticket. "If I wait longer, I'd probably pay more, and I might not end up going," he said. But, he added, "I'm secure. I don't have kids or a wife. My house is paid for."










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