Oil goes into new waters!

With the price of Oil hitting above 100$, it is that time of the year where we should all start looking for alternative means of transportation. With the Oil at new heights and with the middle east in an uneasy condition, one can only wonder how much further is this going to go to.
Of course, all eyes are on the OPEC but going by what they did the last time there was a hike in the Oil price, they would not do much this time either. The cost of the Gasoline has already shot up and naturally the prices of the essential commodities are also getting hiked. Our wallets are growing thin and now with this Oil hike, it is becoming micro, getting by on our salaries is really turning into a struggle of sorts these days.

Wachovia Corp loses a cool 10% profit!

Wachovia Corp., the nation's fourth largest bank, had its profit plummet nearly 10% as a result of the sub prime and the credit mess. With economic data indicating a bleak future ahead for the corporates at least for quite some time to come, the bank may find its next Q statement a revelation of sorts. The bank has in the meantime decided to let a few people of the 110,000 staff that it employs, go. While there are some who may accuse the bank of having a 'knee jerk' reaction to the loss of a 10% profit, the weak economic trends are continuing and will do so for sometime to come. Therefore, this is a right decision for the bank to take under the circumstances.

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