Glenn Beck's Advice: Sell Your Stuff!

But rising food prices, political uncertainty are cause for concern

(NEWSER) - The Davos World Economic Forum is an optimistic place this year—the theme is “Shared Norms for the New Reality,” meaning the post-financial-crisis reality. In a poll, 48% of the assembled CEOs said they were “very confident” of growth in the next 12 months, according to the Guardian . In his presentation today, even Nouriel “Doctor Doom” Roubini himself said the risks of a double-dip recession had lessened. But that doesn’t mean there wasn’t a lot to discuss. Here’s what CEOs were talking about: More»

Chains, retailers struggling with how much consumers can take

(NEWSER) - Despite low overall inflation, the price of basic foods is rising, presenting food companies with a dilemma: do they let rising costs erode profits, or raise prices while demand remains weak? Milk, beef, coffee, and sugar have all seen price spikes, driven by growing demand in China, India, and developing economies, the Wall Street Journal reports. The US consumer price index—minus food—rose only 0.8% over the year to September, while the food index rose 1.4%, and is expected to rise to 2%-3% next year. More»

Discount chain follows 2 bum quarters with extra 99% of a penny

(NEWSER) - The store where nothing costs more than 99¢ has become the store where nothing costs more than 99.99¢, reports the LA Times. The top price at 99 Cents Only will go up by 99/100 of a penny this month, say executives at the discount chain, who blame inflationary pressures. The move is expected to earn the chain an extra $12 million. More»

Biggest increases for 20 years forecast

(NEWSER) - Americans should get ready for pain at the supermarket checkout, reports Reuters—and squash any hopes of food prices getting better next year. A revised USDA forecast predicts a 5% to 6% leap in food prices this year—the biggest increase in 20 years—and USDA officials fear 2009 could see another 4% to 5% jump. This year's report includes surges of 9.5% for cereal and 14% for eggs. More»

(NEWSER) - Chocolate maker Hershey said today it is raising prices by about 10% to offset the new costs of ingredients, Reuters reports. Commodities like cocoa and peanuts are up between 20% and 45%, it said, yet one analyst called the price hike a "real surprise." The candy giant also predicted lower than expected profit for 2008; stocks were down 4% on the news. More»