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Wednesday, March 20, 2013

Chop-suey-ing restaurant bills

Americans Cut Restaurant Spending as Taxes Bite: EcoPulse - Bloomberg: "Even as consumers open their wallets for bigger-ticket purchases including cars and furniture, weakness has surfaced at full-service companies such as Brinker International Inc. (EAT) and Darden Restaurants Inc. (DRI), as well as limited-service chains including McDonald’s Corp. (MCD) and Yum! Brands Inc. (YUM)
Shrinking Paychecks
U.S. paychecks have shrunk this year after Congress and President Barack Obama let the tax that funds Social Security benefits revert to 6.2 percent from 4.2 percent. Meanwhile, the average price of a gallon of regular unleaded has risen about 12 percent since Dec. 31, to $3.69, including a one-week jump of 17 cents between Jan. 27 and Feb. 3, based on data from Heathrow, Florida-based AAA, the largest U.S. motoring organization."

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