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Gas City Files for Chapter 11 Bankruptcy
CHICAGO, Ill. -- Gas City Ltd., a Frankfort, Ill.-based chain of independent gas stations, filed for Chapter 11 bankruptcy protection this week, according to a Crain's report.
D'oh!
Friday: No Major Economic Releases
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[image: Mortgage Rates] Note: Mortgage rates are from MortgageNewsDaily.com
and are for top tier scenarios.
Friday:
• At 10:00 AM ET, *University of Michig...
1 hour ago
2 comments:
I got into a usenet argument ~7 years ago about how retail gas was NOT a profitable biz.
Totally commoditized, prices have to be posted visible from the street (!), too many retailers, not enough wholesalers, price-sensitive demand, easy to buy from other area vendors, etc.
Troy,
Very well said. Let's not forget that gas stations are often "evil" in the minds of consumers when prices rise too. I think I'll pass on ever wanting to own and operate a gas station.
Gas jumps a dime to $1.18
From the comments...
It's corruption and collusive price fixing. Strange how every single station has the exact same price at the same time. - Daniel
Coca Cola and Pepsi soda prices are often the exact same price when purchased at QFC, Albertsons, and Safeway in my area when they are on sale. "Strange" how that happens. That's two different company's products at three different stores! Where's the outrage? ;)
Prices may not be posted visible from the street as you say with gasoline, but they are posted visible within the grocery ads that all come to me in the mail on Tuesdays. "Strange" how all the ads come to me on the same day and bundled together like that. Very "strange". ;)
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