Tuesday, November 18, 2008

consider the lobster (latest casualty of the financial crisis)

Along the Portland waterfront, seafood shops are selling lobsters for as cheap as $3.89 a pound, which is about the price of bologna at the deli counter.


The primary factor, a drop-off in demand by penny-pinching diners, has been in place since summer. But a secondary problem recently surfaced: The global banking crisis left Canadian processors short on credit, trapping Maine lobstermen and dealers with too much supply.

From Lobster Prices Plunge in the Washington Times.

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