US Economy - News, Updates and Discussion

[Davey Crockett]

Had a number of appointments in PHX yesterday so spent pretty much all day there. Everywhere I went, gas was $4.69-4.79 across the board. #2 diesel was $2 higher!

Coming home, I stopped off in Cordes Junction to get gas at the Pilot. Both they and Love's are cheap, relatively speaking, compared to the stations in town. E85 was $4.39. Now, I'm not a big fan of E85 due to performance issues. My engine was built to run on it still........

#2 was $6.69.

While getting a receipt, was talking with a trucker. He wasn't happy.

Seeing rumors online there will be an owner-operator strike starting October 1st over diesel prices.

Where I grew up in Michigan, regular is now $5/gallon.

Bedroom community, most drive 80-100 miles a day for work. Gas now cost them ~$400 a month!

 

[AZ_HighCountry]

Discussions of owner-operator strikes Oct. 1st are on every forum I hang or lurk.

Given that approximately 49% of the US trucking industry is made up of owner-operators, that is a significant number of upset people. Nationally, over 72% of all freight moves by truck.

Latest data shows that 91.5% of the trucking companies operate 10 or few trucks. If they shut down, a lot of freight in the US stops. Right now. The impact to the economy will be devastating.

 

[ghazi52]

Warren Buffett steps down as chairman of Berkshire Hathaway​

Chris Isidore
CNN

Warren Buffett, who ended his decades-long tenure as CEO of Berkshire Hathaway at the end of last year, is giving up the chairman post he has held since 1970.

Buffett, 96, will remain on the board to serve as chairman emeritus. His son Howard, a board member since 1993, will take over the role as chairman.

Known as the “Oracle of Omaha,” Buffett built Berkshire into one of the world’s most valuable companies using his theory of value investing, greatly outperforming the broader market. He also became the world’s 10th richest person and one of the most generous philanthropists. Today, he has a net worth of $145 billion, according to Bloomberg’s Billionaire Index.

Shares of Berkshire (BRK.A) were little changed on the news.