Is it just me? or are the out of state business markets trying to get their last big buck before the summer is officially over? I have noticed that markets such as Panama City Beach and Orange Beach for example, have most of their hotel rooms marked up to what is was during peak summer season. However, just a few weeks ago, many places had their rooms marked less than what labor day prices would be. That trend is also being seen in many of the local clothing stores. They mention how some of their merchandise is a certain percent off, only to get there and see any of their items were marked up (most certainly name brand) material. So that led me to ask my self, is this a good business ethic? I guess it can be debated but someone is willing to pay what the store is asking, I guess they felt it was a good buy. I for one, will see past the advertising methods and find the best deal.
In this weeks blog, I wanted to write about the effect that hurricanes can have on the gas and oil industry. Not just that the prices will go up because production is limited, but the price gouging aspect of it. To me, its very unethical for oil companies to raise the price of oil before a storm even hits. They paid a much smaller rate on that oil in their reserve than what their next shipment of oil would have been. As Hurricane Harvey hit the state of Texas last week, I noticed gas prices had sky-rocketed days before the shortage of gas arrived, even in states like Alabama where I live. I think we all understand that when oil production is ceased, the price will go up, but I think we all expect that price raise should occur after the oil they have now is used up. In Texas, some spots were over 5.00 per gallon. In Alabama, I have seen such places that have raised gas prices to 2.65 without having a new shipment of oil. Gas was prices under 1.86 the day before Harvey made landfall whe
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