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Morning Meltdown 6-2-11

  • Posted on September 6, 2011 at 5:59 pm

Morning Meltdown June 2, 2011 May auto sales dip as price strategy backfires Car sales sputtered in May, slumping to levels that were much lower than expected as higher vehicle prices led consumers to put off purchases in the face of a weakening economy. Monthly car sales figures are among the first snapshots of consumer demand. The May results joined a string of downbeat economic data in recent days, from weak hiring to shrinking consumer confidence, that has raised concerns that the US recovery is running out of steam. Data firm TrueCar.com estimated that the average transaction price for light vehicles in the United States was $29817 in May, the highest ever recorded in data going back to 2002. news.yahoo.com —- Skid Row shelter charges fees as economy toughens For decades, four missions have given out “three hots and a cot” for free in downtown Los Angeles’ Skid Row, where 4000 down-on-their-luck people cram a 50-block area to form the nation’s densest concentration of homeless people. The overflow from the shelters – nearly 1000 people – spills nightly onto urine-stained sidewalks in a bedlam of tents, cardboard boxes and sleeping bags. Two months ago, Union Rescue started charging $7 for an overnight stay, and cut its three free meals a day to one. The move was driven by budget woes caused by the pinch of plummeting funding and soaring demand. hosted.ap.org —- Flash mob turned ugly at Brandeis A senior prank involving a flash mob of hundreds of Brandeis High …

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