Victory For RaceTrac

Atlanta-based RaceTrac Petroleum has been awarded more than $3.4 million from a Financial Industry Regulatory Authority (FINRA) arbitration panel for damages the gas station chain sustained after it invested in the Bear Stearns hedge funds that imploded in 2007, Hedgefund.net reported. The FINRA arbitration award was issued in December, but was recently announced via the

Flying J Files Reorganization Plan

Ogden, Utah-based Flying J Inc., which filed for bankruptcy in December 2008, has filed a plan of reorganization through which it would repay all senior creditors by divesting most of its assets, including its travel center and trucking operations, Reuters reported. Flying J filed for bankruptcy due to a drop in oil prices and tighter

Colorado C-stores Take Step Toward Full-Strength Beer

Colorado’s convenience-store owners won a victory this week when the state’s House Business Affairs and Labor Committee approved a measure Wednesday that would allow c-stores of under 5,000 feet to sell products with a higher alcoholic content than the reduced-strength beer that they now are limited to selling, Denver Business Journal. The proposal won by a

Cigarette Excise Tax, Ohio Cigarette Tax Changes Bring Higher Prices

An Ohio coalition refutes the findings of a recent report claiming that increasing Ohio’s cigarette tax by $1 per pack would bring the state $299.7 million per year. The report released yesterday, entitled, Tobacco Taxes: A Win-Win-Win for Cash-Strapped States is based on national and state surveys of registered voters. “Any economist will tell you

NATO Fights New York On Proposed Ban of Flavored Tobacco

This week, the National Association of Tobacco Outlets (NATO) sent a letter to all 213 members of the New York state legislature urging them to defer legislative action on Bill Number A.9482, which aims to prohibit the sale of all flavored tobacco products in the state except for products with a tobacco, menthol, mint or

The Pantry Chooses KSS for Fuel Price Management

The Pantry Inc. has selected a suite of KSS products to provide day-to-day fuel price management and optimization at more than 1,600 retail locations in the southeastern U.S.  The Pantry will use the PriceNet, PriceNet Web, KSS Analytics, KSS Mapping and KSS Visualizer solutions.
 The Cary, N.C.-based company will implement these KSS products to enable

BP Aims To Offer Price Rollback Technology Network-wide

BP Products North America Inc. plans to be the first fuel company in the U.S. to deliver price rollback technology that awards instant cents-off-per-gallon savings at the pump to consumers throughout its BP-branded network. As of Jan. 31, more than 350 eligible sites have begun the BP-funded and managed technology deployment process with the remainder of

Del Monte’s Fresh Vending Line Debuts at Universities

Students and faculty now have healthier snack options to eat on-the-go, as Del Monte fresh fruit and vegetables are being sold in vending machines across university, college and school campuses, nationwide. The University of Notre Dame, The University of Miami and Miami-Dade College are among the first higher education institutions taking concrete steps to help

Kansas C-Stores Offer Compromise on Beer

A struggle over liquor laws in Kansas continues, the Kansas City Star reported. C-stores and grocery stores have for years sought the right to sell full-strength beer in Kansas, but liquor stores have successfully blocked the legislation. This year the grocers and convenience store owners came up with a compromise for state lawmakers-allow c-stores to

American Airlines Center Opens 7-Eleven Franchise

American Airlines Center (AAC) is in final negotiations with the Dallas-based convenience store chain to open a 7-Eleven store accessible from inside and outside the building, the Dallas Morning News reported. AAC, home to the Mavericks and Stars professional sports teams, plans to place the 7-Eleven at the arena’s northeast corner near its parking garage, could

Casey’s Sponsors USMTS National Tour

Casey’s General Stores is continuing its tradition of being the title sponsor of the U.S. Modified Touring Series (USMTS) National Tour and the Hunt for the USMTS National Championship for at least the next three seasons, USMTS reported. For the seventh straight year, the USMTS Casey’s General Stores National Tour campaign will kick off with

Suncor Sells Non-Core Assets in Northeast B.C.

Calgary, Alberta-based Suncor Energy has reached an agreement with Progress Energy Resources Corp. to sell certain natural gas properties for about $390 million (in Canadian dollars). Current production on these lands is about 43.8 million cubic feet equivalent per day (mmcfe/d). The sale includes properties known as Jedney, Beg and Blueberry, which are located in

Study Disputes Claims Made By E-Cigarette Manufacturers

A study at Virginia Commonwealth University found that electronic cigarettes, through which customers can inhale nicotine vapor instead of smoke do not deliver as promised, CNN reported.   “They are as effective at nicotine delivery as puffing on an unlit cigarette,” said Dr. Thomas Eissenberg, at the school’s Institute for Drug and Alcohol Studies. His

C-Stores In Baltimore Contend With Snow

After a huge snow storm hit Baltimore and with more snow predicted to hit today and tomorrow, businesses are wonderng what the week will bring, WBALTV Baltimore reported. Several grocery and convenience stores told the news station they can’t stock the shelves fast enough, and gas stations said they are running out of fuel. The

Tennessee Fuel Prices Drop

Gas prices in Tennessee have dropped nearly 10 cents a gallon since the beginning of 2010, the Memphis Business Journal reported. The fall mirrors the average price per gallon in the U.S., which also has declined, according to reports from AAA Auto Club South. The average price per gallon in Tennessee for regular unleaded is

Bumpy Ride for Gasoline Prices

By Brian L. Milne, Refined Fuels Editor, Telvent DTN The first week in February saw the most price volatility in the wholesale gasoline market since late September 2009 when crude oil started its march higher into October and pulled fuel prices up too, with wild price swings triggered during periods of market uncertainty. Interestingly though,

Soft Drink Industry Squashes Tax Plan

The soft drink industry has successfully stopped a plan that aimed to tax sugared beverages, the Los Angeles Times reported. Advocates had said the proposed tax would have reduced obesity and helped finance healthcare reform. And public health advocates assumed the tax would accepted by congressional Democrats searching for revenue to fund expanded health insurance

NOCO Express Kicks Off Shamrock Campaign

Tonawanda, N.Y.-based NOCO Express Stores are joining with their guests and associates to “share the shamrock spirit” in support of the Muscular Dystrophy Association (MDA). For just a $1.00 donation, guests can purchase a paper shamrock to benefit MDA of Western New York at all NOCO Express locations beginning Feb. 8 through March 17. This

U.S. Gasoline Prices Fall

The average price of regular gasoline at U.S. filling stations declined to $2.67 a gallon as gasoline futures plunged and demand weakened, Bloomberg reported. Gasoline lost 5.8 cents in the two weeks ended Feb. 5, according to a survey ending on the same day of 5,000 filling stations nationwide by Trilby Lundberg, an independent gasoline

Hess Launches ’Gas Giveaway’ for East Coast Drivers

Hess, the leading independent gasoline convenience store marketer on the Eas Coast, has launched Hess Gas Giveaway, an online contest for residents of 12 states to win up to a year’s worth of free gas. Residents 18 years of age or older who live in Connecticut, Florida, Georgia, Maine, Massachusetts, New Hampshire, New York, North

Slot Machines Enter Ohio Gas Stations

Eight Spee-D-Foods gas stations in Akron and Canton, Ohio are a new type of slot machine, where customers win based on skill, the Associated Press reported. The machines are marketed by Flanders, N.J. -based Reel Vegas Slots, which devised the game by converting real slot machines from Atlantic City. While traditional slots use computer chips

Consumer Trends To Watch In 2010

The International Dairy Deli Bakery Association (IDDBA) has released “What’s In Store 2010”, a trends report that reveals which consumer shopping trends will have the most impact in the next five years. According to the report, the demand for low prices, health and wellbeing, convenience, sustainability, and food safety and quality are the trends to

Diet Coke Unveils New Packaging, Heart Health Message

For the third consecutive year, Diet Coke is partnering with Klum and the National Heart, Lung, and Blood Institute (NHLBI) in a national heart health awareness campaign called The Heart Truth. To bring heart health into the spotlight during February, American Heart Month, Diet Coke will distribute special limited-edition packaging in support of the campaign.

Shell to Cut 1,000 Jobs After Fourth Quarter Decline

Royal Dutch Shell Plc is planning new, deeper cuts to its oil refining and retail operations after downstream weakness caused a 75% decline in fourth-quarter profits to $1.18 billion, Reuters reported. According to CEO Peter Voser, in 2010 the company plans $1 billion in cost cuts and 1,000 job cuts, mainly to come from the

Valero Renewables Acquires Jefferson Ethanol Plant

Valero Renewable Fuels Company LLC, a wholly owned subsidiary of San Antonio-based Valero Energy Corporation has closed on the purchase of an ethanol plant from Renew Energy. The plant, located near Jefferson, Wis., has an annual production capacity of 110 million gallons. Valero paid $72 million for the plant. The purchase gives Valero Renewables a

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