GOOD DAY FOR: Drawing the Trump card, after Ed McMahon was bailed out by The Donald, who agreed to buy McMahon’s nearly foreclosed-upon Beverly Hills home and let him and his wife continue to live there. “I don’t know the man, but I grew up watching him on TV,” Trump said. (Los Angeles Times)
BAD DAY FOR: ’80s nostalgia, after U.S. drivers spent more on gas than cars in May and June, for the first time since 1982. Gas made up 4.4 percent of U.S. spending in June, versus 3.9 percent for autos and auto parts, the U.S. Bureau of Economic Analysis said. Cars have been getting cheaper, while gas prices are “hugely higher,” said Comerica Bank chief economist Dana Johnson. “The two trends have crossed.” (Bloomberg)
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