Business Notebook: Missouri boasts nation's lowest gas prices; Diamond Motel up for sale

Posted: Dec. 26, 2012 3:43 pm Updated: Jan. 17, 2013 1:15 pm

Herald-Whig Senior Writer

Holiday travel was up according to AAA with gasoline prices lower than they had been most of the year.

Missouri had the nation's lowest average gasoline price on Christmas Eve at $2.97.4 per gallon.

Iowa was in 18th pace at $3.12.5, and Illinois was in 33rd place at $3.27.2.
Quincy gas prices averaged $3.18 later in the week as statewide fuel prices were rising.


Motel for sale

Quincy's Diamond Motel is for sale at an asking price of $175,000.

The property at 4813 N. 12th is along U.S. 24 near Spring Lake Country Club. The 20-unit motel sts on a nearly five-acre property and has 20 units.

The facility has been the site of several arrests involving the production of methamphetamine. It had been closed most of this year after the hotel owner was arrested in April on suspicion of possession of a controlled substance and other charges.



Personal income rose 0.6 percent and spending rose 0.4 percent in November, according to the U.S. Commerce Department. The savings rate rose to 3.6 percent during the month. Economic growth during the second quarter was an annualized 3.1 percent. ... Wealthy Chinese buyers have made top-end bicycles a hot item. Reuters reports that limited-edition bikes costing $16,000 to $39,000 are not unusual, with executives and industrialists snatching them up. ... Missouri had the nation's lowest average gasoline price on Christmas Eve at $2.97.4 per gallon. Iowa was in 18th pace at $3.12.5, and Illinois was in 33rd place at $3.27.2. ... Retirement planning officials say recent news accounts of the death of Walter Samaszko Jr. might boost demand among prospective customers. The recluse from Carson City, Nev., died with about $7 million in gold coins and no will to indicate where how his estate should be divided. A first cousin living in California is the likely heir. ... Bloomberg and Morningstar Inc. have calculated that Americans who were nervous about another financial collapse missed out on nearly $200 billion in stock gains in the past five years. There has been a 94 percent rise in the Standard & Poor's 500 Index and an 85 percent increase in equity mutual, exchange-traded and closed-end funds since the bull market began in March 2009.


The good

The United States remains the world's top manufacturing nation, accounting for 18.2 percent of the world's manufactured goods. China is in second place with 17.6 percent, according to the National Association of Manufacturers and World Bank.


The bad

Employee paychecks will be wrong all over the United States in January because of the fiscal cliff. Even a last-minute fix by Congress would be too late to allow the Internal Revenue Service to get withholding tables out in time for 2013's first pay periods.


The ugly

More than 11.5 million Americans were victims of identity fraud in 2011, according to Javelin Strategy & Research. The average victim reported losses of $472.

Quote of the Week

"There's a high possibility that the tax filing season could be further delayed. We're recommending that people be aware of that."

-- Kathy Pickering, executive director of the Tax Institute at H&R Block, on delays expected because of the fiscal cliff deadlock in Congress