Oil prices shot up $3.50 a barrel, more financial businesses admit problems, and stocks moved lower right from the opening bell.
The Dow ended the trading day down 220.40 points to close at 11,842. The Nasdaq also closed down 55.97 points at 2,406.
Frontier Airlines will stop service in Louisville on August 26th. Frontier began service here with two flights daily to Denver last year. Frontier says high fuel costs are forcing a reduction in flights.
Flying Continental Airlines in and out of Louisville will mean fewer flight choices beginning in September. Right now Continental has 13 daily flights serving Louisville. But Continental is cutting its flights by 11 percent this fall with service being discontinued between Cleveland and 24 cities including Washington, D.C.
As in all things business these days, Continental is blaming gas prices for the cuts. The cutback in flights takes effect September 3rd.
A Louisville record store is honored as one of the 17 coolest record stores in America. Paste, a monthly entertainment magazine celebrates the top 17 stores still standing in its July issue.
In this age of downloading music rather than shopping in a store, Ear X-Tacy has managed to remain standing while staying relevant and more important, successful.
Ear X-Tacy has joined a coalition of record stores nationwide to develop its digital download website.