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Money & Markets

Even pumps can’t take it

May 13, 2008

REARDAN, Wash. — Mom-and-pop service stations are running into a problem as gasoline marches toward $4 a gallon: Thousands of old-fashioned pumps can’t register more than $3.99 on their spinning mechanical dials.


The pumps, throwbacks to a bygone era on the American road, are difficult and expensive to upgrade, and replacing them is often out of the question for station owners who are still just scraping by.


Many of the same pumps can only count up to $99.99 for the total sale, preventing owners of some SUVs, vans, trucks and tractor-trailers to fill their tanks all the way.


As many as 8,500 of the nation’s 170,000 service stations have old-style meters that need to be fixed — about 17,000 individual pumps, said Bob Renkes, executive vice president of the Petroleum Equipment Institute of Tulsa, Okla.

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Cablevision purchases Newsday for $650m

May 13, 2008

NEW YORK — Cablevision Systems Corp. is buying the Long Island-based newspaper Newsday from Tribune Co. for $650 million, the companies announced Monday.

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Stocks up as oil price drop eases some fears of inflation

May 13, 2008

NEW YORK — Wall Street rallied Monday as oil prices fell back and alleviated some of investors’ concerns about accelerating inflation. The Dow Jones industrials gained 130 points.

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Business Highlights — May 13, 2008

May 13, 2008

HP in talks to buy EDS for $12-13B

SAN FRANCISCO — Hewlett-Packard Co. is negotiating to buy information technology services provider Electronic Data Systems Corp.

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Monsanto is the gorilla controlling the seed industry

May 12, 2008

Fred Stokes, a prominent figure in the Organization for Competitive Markets wrote: “As you know, the seed industry has become highly concentrated, with Monsanto becoming the dominant global player in the industry.

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Sizzling commodities market puts the heat on farmers

May 12, 2008



NEW ORLEANS — Farming has always been a risky business, at the mercy of bad weather, wars and drought.

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