Toyota's Scion brand topped the list of most reliable cars in Consumer Reports' annual vehicle reliability rankings, as Asian automakers took the top 10 places in the survey. Meanwhile, Chrysler vehicles saw their scores fall sharply from 2007, while Ford's nameplates gained ground over their Detroit rivals. The study compiled responses from Consumer Reports readers for more than 1.4-million vehicles this spring.
People are skittish about the economy's immediate future, but a great many are optimistic about prospects a year from now, according to an Associated Press-GfK poll. While 53 percent said the economy would be better in three months, 75 percent said it would improve in a year. Most say they expect more jobs and higher real estate values.
The fatality rate for crashes involving motorcycles equipped with antilock brakes was 38 percent lower than the rate for similar motorcycles without ABS systems, a study by the Insurance Institute for Highway Safety found. ABS systems help vehicle operators stop abruptly without locking up wheels or fishtailing. Antilock systems are more typically found on touring bikes.
The price of Maine lobster, which accounts for 80 percent of the U.S. catch, is tanking. The primary factor, a dropoff in demand by penny-pinching diners, has been joined by a secondary factor: the global banking crisis that has left Canadian processors short on credit, trapping Maine lobstermen and dealers with too much supply. Along the Portland waterfront, seafood shops are selling lobsters for as low as $3.89 a pound, about the price of bologna.
"We are getting a ton of apparel, handbags, shoes."
PATRICK BYRNE, CEO of Overstock.com, which offers brand-name merchandise at discount prices and is reaping the benefits of a sharp drop in consumer spending
1,825 JOBS Chrysler is cutting by eliminating a shift at a Toledo, Ohio, Jeep plant and accelerating the closure of its sport utility vehicle factory in Newark, Del.
THE BOTTOM LINE: Goldman Sachs to trim about 3,260 jobs, or about 10 percent of its work force ... Xerox to cut 3,000 jobs, 5 percent of its work force ... Defense contractor Raytheon's 2Q earnings rise 42 percent ... Ticketmaster to pay $150M for majority stake in talent agency Front Line Management Group Inc.