The world economy is in such shambles that OPEC has generously decided to leave outputs unchanged.

OPEC ministers agreed on Sunday to leave existing output targets unchanged, but promised to enforce those curbs more strictly and said they would meet again at the end of May.

The decision reflected concern for the world economy and a belief production curbs so far have begun to take away some of the over-supply from oil markets, the Organization of the Petroleum Exporting Countries said in a communique after the nearly five-hour conference.

Is it the economy or the fact that prices were tanking that made them make this decision?

Do they really think that GMAC failed to obtain ‘bank holding status’? The powers that be at Team RePO would never let that happen.

Even after a crucial deadline came and went, the financing arm of General Motors Corp. remained silent Saturday on whether it cleared a final hurdle to become a bank holding company and gain access to billions in federal bailout money.

Analysts have speculated that if GMAC Financial Services LLC doesn’t obtain financial help it would have to file for bankruptcy protection or shut down, which would be a serious blow to parent GM’s own chances for survival.

I have no doubt they made it, and I have no doubt that my hard earned tax money will be flowing into the GMAC and GM coffers anytime (if they haven’t already).

Wal-Mart, and AT&T, are doing nothing to squash this rumor.

Answering an inquiry from BetaNews about Wal-Mart’s reputed plans to sell an iPhone 3G for $99, a spokesperson today issued a statement that neither confirms nor denies the rumors.

“We have made no official announcement on offering the iPhone at Wal-Mart,” said spokesperson Kelly Cheeseman today, when asked by BetaNews for comment on published reports that the retail chain will start selling a 4 GB version of Apple’s iPhone 3G for $99 just before New Year’s Day.

What do you think? Could it be true? Are $99 iPhones coming to your neighborhood Wal-Mart?

Another automaker may be locating nearby.

The U.S. State of Alabama will be the likely home of a new Volkswagen manufacturing plant, beating two other states, German industry newsletter Automobilwoche said on Saturday, citing senior company sources.

This is only good news if they are planning to manufactur the new volkswagen bus, also known as the Kombi at that location. If not, I could care less.

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I don’t know about you, but I have seen far worse while walking by the Abercrombie & Fitch store at the mall.

Police, saying they were responding to citizen complaints, carted away two large promotional photographs from the Abercrombie & Fitch store in Lynnhaven Mall on Saturday and cited the manager on obscenity charges.

Adam Bernstein, a police spokesman, said the seizure and the issuance of the summons came only after store management had not heeded warnings to remove the images.

The citation was issued under City Code Section 22.31, Bernstein said, which makes it a crime to display “obscene materials in a business that is open to juveniles.” He did not say what was being done with the pictures and when the manager, whose name was not released, is scheduled to appear in court.

If these images are obscene, what is going to happen over at Victoria’s Secret? Ouch.