See how Sconza makes its candy
Sconza Candy Co. churns out about 120,000 pounds of candy a day. That includes Sconza brand confections, private-label candies and bulk products. The Sconzas are closing shop in Oakland and moving to the former Hershey Co. plant in Oakdale, where they will begin production in October. To see how some of their products are made, go to www.modbee.com/video.
The Federal Reserve reported Monday that consumer borrowing rose at an annual rate of 2.4 percent in February, just half of the 4.9 percent increase in January. The slowdown reflected much weaker demand for auto loans and other types of nonrevolving credit, which rose at a rate of 0.4 percent in February, much lower than the 3.6 percent growth rate in January. Credit card debt rose at a 5.9 percent rate.
Gas hits new high
Gas prices rose further into record territory Monday, pulled higher by resurgent oil futures and a growing belief that gasoline supplies are falling as the summer driving season approaches. Oil futures, meanwhile, jumped nearly $3 to more than $109 a barrel as traders bet the Federal Reserve will continue cutting interest rates. Comments from OPEC suggesting the cartel plans no production increases also boosted oil prices. At the pump, the national average price of a gallon of gas jumped 3.6 cents during the weekend to a record $3.339, according to AAA and the Oil Price Information Service. That's 58 cents higher than a year ago.
WaMu nearing deal
Washington Mutual Inc., the country's largest savings and loan, is close to landing a $5 billion cash infusion from private equity group TPG and other investors, a person familiar with the matter said Monday. For more information, see Page D-4
Tax time often gives small business owners some lessons in how to run their companies better, according to Small Talk columnist Joyce M. Rosenberg.