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Those gas-efficient hybrids may be bigger drinkers than you think. Ford (NYSE: F ) became the latest company to pay for making claims that just aren't holding up.
Ford's C-MAX Hybrid gas-electric car will go from promising 47 miles per gallon to just 43 miles per gallon. It's not the first hybrid car maker to lower its EPA mileage, and just as others have in the past, it's going to do right by those who have already put their money into the car. Ford will make what it calls "goodwill payments" of $550 to buyers and $325 to those who leased the C-MAX Hybrid before the change.
It may seem inevitable for electric or gas-electric hybrids to grow in popularity, but for now they remain a very limited market. Every revolution has its bumps in the road.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
- Himax Technologies (NASDAQ: HIMX ) stumbled after posting mixed quarterly results. The stock has been on a tear this summer since it was reported that it will be a component provider for Google Glass.
- Green Mountain Coffee Roasters (NASDAQ: GMCR ) has been a big gainer over the past year, and its exchange has noticed. The company behind the Keurig single-cup brewing system was tapped to become part of the Nasdaq-100 index.
- Millennium Media (NYSE: MM ) took a hit after posting quarterly results that came in lighter than expected on the top line. The mobile-display marketer also announced an acquisition that the market didn't rally behind.
- Jos. A. Bank Clothiers (NASDAQ: JOSB ) was undressed after the apparel retailer warned that its quarterly results will come in shy of expectations. Several retailers have provided uninspiring financials lately. Could we really be in a shopper-less recovery?
Plug-in cars will make more sense if gas prices keep rising
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