Business

<< Previous   of   Next >>   ADVERTISEMENT   CONTACT THE HERALD Mike Benbow, Business Editor benbow@heraldnet.com   Published: Saturday, October 18, 2008 Marysville Linens 'n Things to close Specialty retailer Linens 'n Things, which filed for bankruptcy protection in May, plans to shut its Marysville store on Twin Lakes Avenue. A manager for the Marysville store confirmed the store is closing but declined to give a date. The company plans to begin liquidation sales at its stores as early as Thursday after failing to find a buyer that wanted to operate the firm. Oil rallies, closes at $71 a barrel Oil prices recovered some ground Friday, rallying above $71 a barrel on speculation that OPEC could slash output in an effort to stop crude's downward spiral. But pump prices kept falling and appeared poised to drop below $3 a gallon nationally -- a level not seen in eight months. Light, sweet crude for November delivery rose $2 to settle at $71.85 a barrel on the New York Mercantile Exchange after earlier rising as high as $74.30. On Thursday, prices lost $4.69 to settle at $69.85 a barrel. Despite Friday's modest rally, oil is still down $75 -- or 51 percent -- since catapulting to a record high of $147.27 on July 11. UPS raises general shipping rates United Parcel Service Inc. on Friday announced a general rate increase of 5.9 percent for 2009. UPS, the world's largest package delivery company, will raise ground shipment rates by an average of 5.9 percent and increase rates on air express and international shipments bound from the U.S. by an average of 4.9 percent. The rate hikes take effect Jan. 5. Delta checks 757s for engine cracks Delta Air Lines Inc. said Friday it will inspect the engines on its 132 Boeing 757 jetliners after one engine failed and another on an American Airlines plane developed cracks. The National Transportation Safety Board has asked the Federal Aviation Administration to order the inspections, citing "serious concerns that warrant immediate action by the FAA." As of Friday, the FAA had not made a decision. It has said it needs to determine if all Pratt & Whitney PW2037 engines need inspections, or just those made during a certain time period. Hyundai recalls Elantra sedans Hyundai Motor Co. is recalling about 150,000 Hyundai Elantra sedans because of potential electrical problems that could prevent air bags from deploying. Hyundai said Friday the recall involves Elantras from the 2001 model year. If a liquid is spilled near the cupholder, it could drip into the air bag control module electrical connector, contaminate the module, preventing air bags from deploying in a crash. The Korean automaker also is recalling about 75,000 Elantras from the 2001 and 2002 model years because of issues with an air bag wiring harness that could prevent the side air bags from deploying. From Herald staff and news services READER COMMENTS Be the first to comment. You must be a registered user and verify your e-mail address to post comments to blogs or articles on HeraldNet. To register, click here. To read other terms and conditions, click here. Log out

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