- CNBC has a show called Power Lunch. Do they always introduce the show as "Today we have a special edition of Power Lunch?" I'm not home watching it enough to notice.
- 10 Financial Urban Legends up at MSN's Moneycentral. One that caught my eye only because we here about it everytime gas prices spike:
Myth No. 5: Boycotting a few gasoline brands brings gas prices down. Poor Exxon and Mobil. They often show up as the bad guys in a mass e-mail urging Americans to avoid their pumps on a particular day.
Its easy-to-understand language makes the plea plausible. The trouble lies in the fact it's too simple -- and economics don't work that way. For starters, gasoline is what's known as a fungible commodity -- if one company has an oversupply, it sells it to a competitor. No matter who you buy from, the basic supply numbers remain the same.
Furthermore, prices at all the nonboycotted outlets would rise, thanks to the temporarily limited supply and increased demand, making the original prices look cheap by comparison, according to Snopes.com.
Besides, the industry is too large for a boycott of two companies to make a dent, says Stephen Ciccone, University of New Hampshire assistant professor of finance.
- If you watch Smallville, you might like to know that WB is taking the plunge into Aquaman. (I like these escapist shows, to be honest).
- This will cause weeping and gnashing of teeth from the liberals: Wal-Mart posts a big profit. They beat estimated by 2-cents, and revenues were up 10%.
