Good day, Bad day
GOOD DAY FOR: Rush Limbaugh, after Clear Chanel agreed to pay the radio host about $400 million through 2016. That is second only to Howard Stern’s reported $500 million, five-year deal with Sirius Satellite Radio. Limbaugh’s current eight-year contract, worth $285 million, expires next year. The deal comes as traditional radio faces a rough challenge from satellite radio and iPods. (The New York Times)
BAD DAY FOR: A sweet tooth, after sugar futures hit a four-month high amid speculation that rising oil prices will push demand for sugar-based ethanol. Brazil, the world’s No. 2 ethanol producer, uses sugarcane to make the fuel. With consumption rising, it has put 62 percent of its new cane crop toward ethanol production, leaving only 38 percent for sugar. (MarketWatch)
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