(CBS/CNN) - General Motors is disputing a report that it is losing as much as $49,000 on each Chevy Volt it builds. According to estimates by industry analysts, it costs as much as $89,000 to build a single Volt.
The base price for the plug-in hybrid vehicle is just under 40-thousand dollars. Sales for the volt are far below expectations, and the plant that makes the car will halt production for four weeks. GM admits it is losing money on the Volt, but it calls the Reuters estimate quote - "grossly wrong."
Get ready to pay up the next time you fill up. Since Hurricane Isaac forced refineries to shut down, gas prices have jumped eight cents. The average price for regular is $3.84 a gallon. Here in East Texas we're paying about $3.65 on average. The highest gas in the country is in Chicago at $4.30 a gallon. The lowest in El Paso at $3.44 per gallon.
More and more Americans are pulling the plug on watching TV the old fashioned way. According to the Nielsen Company, about five million homes no longer receive TV signals either over the air, or through cable or satellite. The report shows about three quarters of those homes have televisions, and use them to stream content, watch DVD's or play video games.
Toys R' Us is jumping into the tablet business. It plans to launch the Tabeo for kids. It features a 7-inch screen, a wi-fi connection and 50 pre-loaded kid-friendly apps. It will cost around $150 and be on the market just in time for the holidays.
Parents, if you can stand to wait until November, your kid's next haircut could be free. J.C. Penney announced the promotion in an email to customers. Starting in November, every Sunday is free haircut day for kids from kindergarten to 6th grade. The company already did a free back-to-school haircuts promotion in august and snipped away locks from more than 1.6- million little heads.