|EconNews Online is South-Western College Publishing's service to provide summaries of the latest economics news stories. Review the brief summaries and, for stories of interest, select the full summary.|
||Blue crabs are thriving in Chesapeake Bay, Maryland this year. In a bad year, fishers might bring in total catches of 50 million lbs. This year, they’ve caught upwards of 80 million lbs. With such a huge harvest, prices of the popular seafood have plummeted.
(Updated June 2006)
||Go to Yiwu, China, just south of Shanghai in Zheijiang province, and you'll find the largest collection of vendors willing to engage in serious price competition.
(Updated January 2005)
|| Brazil's ability to produce many agricultural products at low prices is making farmers in other countries stand up, notice, and start to fear the worst. Already the largest exporter of soybeans, Brazil is quickly becoming a world leader in production and export of sugar, coffee, orange juice and cattle products.
(Updated September, 2004)
||Wheat prices are rising
due to droughts and monsoons around the world, overcoming the effects of
a strong dollar and trade sanctions. Farmers are starting to make more than
it costs to grow corna.
(Updated October 10, 2002)
||Disposable gloves sales
are skyrocketing, mainly due to fear of disease. However, the last U.S.
plant producing latex gloves is threatened by lower labor costs in Asia.
(Updated May 1, 2002)
||Failures in the trucking
industry are at record levels due to higher fuel, insurance and labor costs
and a sagging economy. Low trade-in prices for trucks and a loose labor
market mean bankruptcy does not provide a way to stay in the industry. Trucking
prices may rise unless more individuals enter the industry.
(Updated September 1, 2001)
||Pay phone usage is decreasing
as cell phone usage increases. Pay phone companies are removing phones because
they are not economic. Some are trying to reinvent them for Internet access.
(Updated March 1, 2001)
||The Winn-Dixie supermarket
chain is closing some stores, increasing the size of others, centralizing
functions, and eliminating management positions because its operating margin
is slim, sales are down, and it is losing market share. Restructuring may
not be sufficient.
(Updated June 1, 2000)
|| The Eastern U.S. drought
of 1999 has increased the price of hay, causing some farmers to sell their
cattle. The increase in cattle at auction has reduced the price of animals,
but consumers are largely unaffected.
(Updated October 1, 1999)
||The world price of steel
fell dramatically in 1998. Industry and labor want tariffs to be imposed
on steel that is sold below cost. Many are resistant because it would hurt
countries recovering from the financial crisis as well as U.S. producers
who use steel.
(Updated March 1, 1999)
|| The 8 percent commissions
that travel agencies receive for selling international airline tickets have
been capped at $100 for a round-trip ticket.
(Updated February 1, 1999)
|| Upper Midwest farmers
are angry at increases in imported grain from Canada because lower grain
prices are resulting. Others believe that low prices are also due to high-yield
harvests in the Northwest and lower demand from Asia. Either way, farmers
are losing money, and their communities are said to be suffering.
(Updated November 11, 1998)
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