The bottom line
May sales up for Hyundai and Chrysler; A stunning performance for Fannie and Freddie; Good times for “breastaurants”; Underpaid on Broadway; Continental gets fined $120,000
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May sales up for Hyundai and Chrysler
Only two major carmakers recorded sales gains in May. Hyundai’s sales zoomed 20.7 percent ahead of May 2010’s pace, and Chrysler notched a 10.1 percent increase. Buyers flocked to Hyundai’s fuel-sipping Elantra.
The Wall Street Journal
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A stunning performance for Fannie and Freddie
The best-performing stocks since Jan. 1 are the preferred shares of troubled mortgage-finance giants Fannie Mae and Freddie Mac. The price of Fannie’s preferred shares has risen 346.53 percent as of June 1; Freddie’s shares are up 517.65 percent as of the same day.
WallStreetPit.com
Good times for “breastaurants”
Most casual restaurant chains are hurting, but not “breastaurants.” Eateries such as Hooters—which just passed $1 billion in annual sales—Twin Peaks, and Tilted Kilt are packing in male customers with burgers, beer, giant-screen TVs, and scantily clad waitresses.
BusinessInsider.com
Underpaid on Broadway
Julie Taymor, fired director of the critically panned Spider-Man: Turn Off the Dark, was paid only $125,000 for nine years of work on the $85 million production, according to her union representative. She has demanded an estimated $200,000 to $300,000 from the show’s producers, who have extensively reworked the script.
TheDailyBeast.com
Continental gets fined $120,000
The Department of Transportation has fined Continental Airlines $120,000 for excluding fuel surcharges from its fare listings. US Airways paid $45,000 for failing to inform customers of all taxes and fees that apply to airfares to Rome.
CNN.com
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