Scuttlebiz: Will Labor Day send gas prices down?

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Ah, to wax poetic about the coming of September.

Labor Day, also known as Lower Gas Prices Day, is next week.

Summer vacation is over and the kids are back in school. Those of us with some modicum of economics training say that equals lower demand and therefore lower prices.

Well, that only works in a normal market. Oil prices seem to be their own world.

I expect to see an Associated Press story one day saying the chief executive officer of Valero Energy has the sniffles, traders got skittish and the price of oil skyrocketed $50 per barrel in an hour.

(Dear traders: I've met Bill Klesse, he's the strong Texas type, don't worry.)

Think about it, the possibility of $3.25 gas for Thanksgiving.

Maybe it will make room in the family budget to drive around on the weekend and do some Christmas shopping.

Sharing my optimism about falling oil prices is Augusta's resident economist, Marc Thompson at Augusta State University. Lower prices will be welcome to businesses who can then pass on the lower shipping costs to us sticker-shocked consumers.

Mr. Thompson does a monthly economic index. He says Augusta continues to weather the national storm. In the August index, he says local employment is increasing while the national job market has signals that it is in recession.

HOLIDAY INTRUSION: If you thought it was bad that Christmas decorations appear near Halloween, what does it say when you see Halloween decorations for sale in the middle of summer? Maybe there's a bright side to these earlier holiday seasons. I can buy Halloween and Valentine's Day candy at the same time.

FAT MAN'S: The Medical College of Georgia finally closed the deal to buy the Fat Man's land on Laney-Walker Boulevard. One of its foundations paid $2.5 million for 3.79 acres.

Put away your calculators. That's $659,630 per acre.

Students will be living there in two years, the school says.

The holiday store was torn down a few months ago and students are already parking there. The restaurant still stands. Owner Brad Usry has a 90-day lease to operate Fat Man's Cafe while he spends the next three months looking for a new spot.

Broad Street or Walton Way were leading the list at last check.

SPEAKING OF A CAFE: Vera Stewart, founder of VeryVera, is doing away with her walk-in cafe at 3113 Washington Road.

Economic woes? No. Expansion.

She's going to use the space to host VeryVera's School of Good Taste. It is cooking camp for the parents of the kids who've been attending her cooking camp.

Ms. Stewart also plans on doing private cooking demonstrations there.

The cafe shuts down on Aug. 29. The final public lunch will be 11 a.m. to 2 p.m.

By the way, VeryVera's Cakes & Gourmet to Go products will also be carried by Neiman Marcus this fall. The closest locations to us are in Atlanta.

WHAT'S IN A NAME: I read an excerpt of the earnings report for a California-based dollar store chain called 99¢ Only.

Yes, everything in the store is 99 cents -- for now. They are dealing with inflation same as the rest of the country and have hinted at raising prices. Things will initially go to $1.05. As for the name, they didn't mention what might happen to the moniker.

Reach Tim Rausch at (706) 823-3352 or timothy.rausch@augustachronicle.com.

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