GOOD DAY FOR: A good lawyer, as the IRS is seeking $143.6 million in back taxes from billionaire Philip Anschutz, according to The Wall Street Journal. The IRS says that Anschutz earned $429 million in capital gains from so-called prepaid forward taxes, in which he received cash and a share of future increases in stock price; Anschutz said the deals were not completed sales, for tax purposes. (The Denver Post)
BAD DAY FOR: Broken records, after the national average price for gas finally broke through the $4 barrier yesterday, according to AAA. The gas price follows the record gains oil made Friday, when the price per barrel jumped $10 to near $140. (AP in Yahoo! Finance) The price of corn also reached a new high, after rising 8.6 percent last week. Corn prices are up 47 percent this year. (Bloomberg)
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