Oil prices continue to fall as OPEC nations fail to reach an agreement on production. The ministers could not speak with one voice on oil output and therefore production will remain the same, contributing to the supply glut and low prices. Meanwhile, gas prices nationwide fell to $2.03 a gallon, according to AAA. Some energy analysts say states with refineries could see gasoline fall to $1.00 a gallon in the next few months. General Electric (GE) has called off its planned sale of its appliance division to Europe’s Electrolux. The sale was called off due to regulatory hurdles at the Department of Justice. Activist Investor Carl Icahn disclosed he has taken a 12% stake in Pep Boys-Manny Moe and Jack (PBY). Icahn said he will continue to discuss a strategic combination between Pep Boys and Auto Plus, which is owned by Icahn Enterprises.
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