| Sales LKR 222 mn
Assume our imaginary person, a delivery man, gets an income of 100 rupees a day and that all of his consumption is imported. He spends 96 rupees on petrol and four rupees on other things. Assume further that petrol is raised to 97 rupees. The nature of energy is such that there is an economic imperative to consume it. Our man has to go to work for example. People are willing to spend on energy because they seem to get huge returns from doing so, like going to work. So demand for oil is fairly inelastic. If he continues to use petrol, paying 97 rupees, he has to cut down other imported goods to 3. There is simply no other alternative unless our imaginary person gets into debt. So the bulk of the import compression in a fuel price rise in the very short term will come not from oil but from other imports.
Feliz nears Giants exit
Ex-Giant Torres traded: Former Giants pitcher Salomon Torres, who led the league in appearances in 2006, was dealt Friday by the Pirates to the Brewers for pitching prospects Marino Salas and Kevin Roberts. The Brewers are rebuilding their bullpen after losing Francisco Cordero to Cincinnati and Scott Linebrink to Chicago via free agency. Torres, now 35, made 94 appearances in 2006 after pitching in 78 games in 2005 and 84 in 2004. Last season, Torres had recurring problems with a sore right elbow, limiting him to 56 appearances. He was 2-4 with a 5.47 ERA and lost the closer's job. The right-hander is due $3.2 million in 2008. Inge wants out: The Tigers are open to trading third baseman Brandon Inge, who lost his job to newly acquired Miguel Cabrera.
Valley briefing
Aurora University will offer information on adult degree completion programs at 6 p.m. Wednesday at the Perry Theatre in the Aurora Foundation Center for Community Enrichment, 1305 Kenilworth Place. University representatives will discuss admission procedures, academic programs and financial aid. Adult degree completion programs are available in accounting, business administration, communication, criminal justice and nursing. Call (630) 844-5294 or e-mail AUadmission@aurora.edu. Fox Valley Extension launches 'Hortanswers' site A new Web site that allows home gardeners and professional horticulturists to gain information about plant pests, diseases, and performance in the USDA's hardiness zones 4, 5, and 6 has been launched by University of Illinois Extension.
STATE OF THE STATE: Text of Delaware governor's prepared address
Lieutenant Gov. Carney, President Pro Tem Adams, Speaker Spence, members of the 144th General Assembly, members of the Delaware judiciary, other elected officials, members of my Cabinet, state employees, distinguished guests, my family and my fellow Delawareans
I am particularly proud to appear before you for this State of the State address as it kicks off my last year as your Gov.. As you all know, my career in elected public office started in this Chamber, where so much of what I worked on as your Gov. began as a priority for me as a legislator.
My annual appearances before you, my legislative friends, have not only been an opportunity to remember my roots but also reaffirm my long-standing priorities, such as creating world-class schools, protecting our precious environment, fighting to keep and create jobs, and working to make Delaware a healthier state.
The Other Women to Watch
Mulcahy had a next act after she helped engineer Xerox's recovery from a near financial collapse in 2001. She also has expanded Xerox's business beyond traditional copiers and printers into the computer systems used by customers to manage documents. After radically paring back Xerox's debt, she has leveraged the company's financial strength in the past 18 months to buy three smaller companies that make software for managing legal evidence, mortgage originations and personalized mailings. Ms. Mulcahy, 54 years old, has said she doesn't have any plans for retirement. But this year, the Xerox board named an heir apparent, long-time lieutenant Ursula Burns, to replace Ms. Mulcahy as president. --William M. Bulkeley * * * .
Experts: Rutherford economy fine,
Local financial leaders say that while Murfreesboro and Rutherford County's economies aren't in dire need of stimulation, a shot in the arm from the federal government wouldn't hurt. President George Bush announced Friday he would like to provide a $140 to $150 billion economic stimulus package to jump-start a lagging economy. .
Hardware Intel Responds to EU Charges With Demands of Its Own
Intel insists its innocence as it responds to antitrust allegations from the European Union Intel revels in the glory of being the CPU industry leader, at least for the time being. However, like many industry leaders, they have found themselves the primary target of the crosshairs of criticism. Further, as with any company that is dominating the market, allegations of antitrust violations become a serious threat to the company worldwide. AMD said Intel's anti-competitive practices established a monopoly in the microprocessor market. AMD then sued Intel in U.S. courts in June of 2005. The company since mounted a long-standing legal battle that included ads in major newspapers and the a website chastising Intel who it portrays as sinister and monopolistic. AMD received an ally in the form of the European Union. In July 2007, it announced that based on evidence collected in a multi year investigation, including materials found in a June 2005 raid of European Intel offices, it was filing charges against Intel for engaging in anticompetitive practices.
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