Desperate Drivers Pay The Price At NMB Gas Station « CBS Miami

Desperate Drivers Pay The Price At NMB Gas Station « CBS Miami



MIAMI (CBS4) — Some South Florida drivers double checked their gas bills as they pulled away from the pumps ahead of Tropical Storm Isaac and wondered why it cost so much to fill up.
It’s no surprise now to learn the State of Florida could be very busy with alleged price-gouging cases around South Florida.
Cory Davis thinks the $4.49 a gallon price tag of regular unleaded at his local North Miami Beach gas station gouges local consumers.
He thinks the price hike came as desperate drivers were looking to fill up as Tropical Storm Isaac threatened South Florida.
“They‘re taking advantage of us man, $4.49, the gas prices are ridiculous. Come on man,” complained Davis.
CBS4 found other gas stations in the area selling unleaded regular from about $3.79 to $3.89 a gallon. The $4.49 price tag at the station Cory Davis visited is about sixty-cents more a gallon than other stations in the area.
Under the state’s price gouging laws, it’s illegal to raise prices on critical emergency supplies like gas, but only after a state of emergency is declared.
Formal complaints can be filed with The State Division of Consumer Services at 800-HELPFL or  800-435-7352. 

Attorney General Pam Bondi also activated the Price Gouging Hotline on Saturday.
She urged Floridians to report any suspected price gouging at 1-866-9-NO-SCAM (1-866-966-7226).
The cashier at the station charging $4.49 said he doesn’t know when prices were raised and told CBS4′s Al Sunshine that the manager was not working.
If any business is found to have violated state or local  price-gouging laws, they can face up to a $10,000 fine.

Nike to sell new LeBron James sneakers for $300 | Sports - Home

Nike to sell new LeBron James sneakers for $300 | Sports - Home

"Nike is selling LeBron James' newest sneaker for over $300. According the Wall Street Journal, LeBron's next shoe, the "LeBron X" will cost around $315. The shoe debuted at the 2012 Olympic gold-medal game between Spain and the United States.

This will be LeBron's 10th shoe release. His first shoe was released in 2003. It was called the Nike Zoom Generation and cost around $110. Nike told the Journal that it is passing along price increases because of the increased cost of materials like cotton.

Alan Reynolds discusses measures of income inequality on C-SPAN

Alan Reynolds discusses measures of income inequality on C-SPAN

No Horses, But Detroit Water Department Employs 'Horseshoer' [Michigan Capitol Confidential]

No Horses, But Detroit Water Department Employs 'Horseshoer' [Michigan Capitol Confidential]

EXCERPTS:

"Despite having no horses, the water and sewerage department for the city of Detroit employs a horseshoer.

Yet even with a department so bloated that it has a horseshoer and no horses, the local union president said it is "not possible" to eliminate positions.

Union rules have turned the department into a government jobs program, some critics say.
The horseshoer’s job description is "to shoe horses and to do general blacksmith work … and to perform related work as required." The description was last updated in 1967.

The Detroit Water and Sewerage Department (DWSD) has a large debt, rising water prices and inefficient services — using almost twice the number of employees per gallon as other cities like Chicago.

MWF 10 Class

1. First day. 8/20/12 Monday. Comments about the course. Print and read the syllabus. Read chapter 1 of the text.
2.  Wednesday. Definition of economics through scarcity.

To protect ethanol, Obama seeks to inflate meat prices | WashingtonExaminer.com

Examiner Editorial: To protect ethanol, Obama seeks to inflate meat prices | WashingtonExaminer.com

EXCERPTS:

"Campaigning in Missouri Valley, Iowa, yesterday, President Obama announced yet another government spending program -- this time designed to inflate meat prices in Midwest swing states. "Today the Department of Agriculture announced that it will buy up to $100 million worth of pork products, $50 million worth of chicken, and $20 million worth of lamb and farm-raised catfish," Obama explained to reporters in front of a drought-stricken cornfield.

"Prices are low, farmers and ranchers need help, so it makes sense," Obama explained. "It makes sense for farmers who get to sell more of their product, and it makes sense for taxpayers who will save money because we're getting food we would have bought anyway at a better price."

QUESTIONS:

1.  Who will benefit from the government purchasing more agricultural products (increasing the demand)?
2. Who will be hurt (bear the cost) by this plan?

Economic Lessons from the Olympics | Richard W. Rahn | Cato Institute: Commentary

Economic Lessons from the Olympics | Richard W. Rahn | Cato Institute: Commentary

EXCERPTS:

"Civilization can only advance when individuals are both encouraged and rewarded for excellence. The men and women who designed, built, and succeeded in placing the new SUV-sized rover on Mars receive and deserve our acclaim. The late Steve Jobs is widely admired for creating the world's most valuable company and for being a genius in product innovation and marketing. Thomas Edison was even more innovative a century earlier — the light bulb, the phonograph, the electrical generation and distribution system, etc. — and he also built one of the world's largest companies, General Electric.

The good side of humanity is revealed when we praise and reward such people. The bad side of humanity is shown by those who wish to punish success. According to legend, Ivan the Terrible was so impressed by the stellar achievement of the architect he had commissioned to design St. Basil's Cathedral in Moscow that he had him blinded so no other ruler could hire him to produce an equal or greater feat.

The modern day equivalents of Ivan the Terrible are those who pander to the envious and jealous by demanding higher and higher tax rates on the successful. They seek to punish success with the childish demand that they "give back." We pay our successful athletes and musicians a great deal of money because their performances "give" us great pleasure. Sam Walton made tens of billions of dollars because he developed and "gave" us a superior marketing and distribution system that enabled all of us to buy tens of thousands of products at lower prices. Those "evil" real estate developers are the ones who take great risks to build hugely expensive buildings and hire great architects who "give" the rest of us the profile and structures of the cities where we live and work.

We want an economy that produces many well-paying jobs. These are produced by entrepreneurs and businessmen, many of whom have spent considerable time developing their skills, learning from their own mistakes, and often risking their own money. Every job they create is "giving" something to those who are not as equally ambitious, talented, resourceful, hard working or skilled. Why then should the job creators be expected to "give" even more?"