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Marathon has agreed to sell one of its subsidiaries, Speedway, to the parent company of 7-Eleven, the Minneapolis Star Tribune and The New York Times reported Sunday.The reports say that Marathon is selling the 4,000 Speedway locations to Seven & I Holdings for billion. The New York Times reports that Seven & I will increase its store count from about 10,000 to about 14,000 with the purchase.Marathon has struggled financially in recent months had has shut down operations in two refineries. It's been seeking to sell Speedway for months as it looks to pay down debt and support dividend payments.Marathon says it expects to bring in .5 billion from the deal after-tax cash proceeds.Oil prices have plummeted in 2020 as the coronavirus has prevented people around the world from traveling. 815

Making history by bringing a lifetime of excellence, Kim Ng steps to the helm as GM. #JuntosMiami pic.twitter.com/UrYESbjTHe— Miami Marlins (@Marlins) November 13, 2020 176

Lumber stocks are at a historic high. We haven't seen these numbers since the 2008 housing boom and then crash. Experts say that's in part because of the housing market and record low mortgage rates.2020, the unprecedented year where nothing goes as expected, has brought us what realtors call a "sellers' market"."There’s plenty of buyers in the marketplace, but not enough supply so what we are seeing is multiple offers happening frequently on mid-price homes. So heavy competition in the marketplace.” Dr. Lawrence Yun, chief economist for the National Association of Realtors, said.The country's largest trade organization has 1.4 million members who help people buy and sell homes. Dr. Yun says the nation's housing market has even surpassed pre-pandemic sales. He attributes a lot of that to low mortgage rates and people realizing that working from home means they need more room.“Because of the strong demand for housing and we have a shortage of homes in the marketplace, so whatever home builders build, they can find a buyer so they build more homes. But one of the constraints is lack of construction workers along with the material cost that goes into construction, such as lumber,” says Dr. Yun, who also pointed out the country's underproduction.“Home builders have been producing below historical average for 10 straight years and the cumulative effect of underproduction is we don’t have sufficient inventory and that is the reason why home prices are rising and we need to build more homes to get into balance,” added Dr. Yun.Which is why, Laura Gonzalez, associate professor of Finance at California State University Long Beach, says we're experiencing a supply and demand situation when it comes to wood.“We just don’t have enough wood,” Gonzalez said. “It's difficult to make it ready and then transport it because of the pandemic. It's not that the industry is changing its just that we have had a shift both in supply and demand.”Gonzalez also says it's the basic equation of high demand meaning lower supply, which sends prices up and stocks soaring. Then there's the factor of where our wood comes from. She says, “We import some of our lumber from Canada both from lumber and other products. If we depend on other nations, we are more susceptible to changes in supply.”So, what comes next?“The issue of supply versus demand is going to correct in two years, but the opportunities for climate finance are ongoing that is not going to finish,” Gonzalez said.Which is why Dr. Yun says home prices will hold firm, and if you're waiting for a ‘burst’ or for prices to decrease, you might be waiting a while.“In future years, mortgage rate will certainly rise and that will choke off some of the demand, but hopefully we have adequate supply so we have a more balanced market condition where prices rise in manageable, 3-4% each year and people will feel comfortable at that rate of price appreciation,” says Dr. Yun.Dr. Yun recommends if you want or need to buy, don't overstretch your budget as the competition is fierce out there. If you want to sell, don't get greedy and overprice because your home will get stuck on the market. It's yet another aspect to this odd year that has brough the unexpected to us all. 3245

Mexico Beach, Florida, is not just destroyed. For the most part, it's not there anymore.From a helicopter, you can see many of the homes and hotels that populated this beachside town of about 1,200 are gone. A few houses and other structures remain standing, but they're the exceptions.Hurricane Michael's wind and storm surge ripped up buildings like posies and carried them inland. Where homes once stood, offering premium views of the Gulf of Mexico, a few boards lay scattered across foundations.PHOTOS: Hurricane Michael destructionCars, mattresses, grills and toilets were tossed all over town. An entire house was thrown 100 yards down the beach, landing on its side."We had furniture in our house that wasn't even ours," Scott Boutwell said, explaining that when he returned to his home Thursday the only belongings he could find was a briefcase. 862

Michigan Gov. Gretchen Whitmer announced Sunday evening measures to try and slow the growing spread of COVID-19 in her state.In a press conference Sunday evening, Whitmer and state health officials announced a "Three-Week Pause" aimed at mitigating the spread of the virus.Between Nov. 18 and Dec. 8, the state will mandate that the following operations be closed:In-person learning at high schools, colleges and universitiesTheaters, stadiums and arenasAll who are able to work from home will be required to do soDine-in restaurants and barsOrganized sports, except professional sportsBowling centers, ice skating, indoor water parksBingo halls, casinos, arcadesGroup fitness classesSeveral businesses will remain open, according to the state, including:Hair salons, barbershops and other "personal services"Gyms and pools for individual exerciseRetail storesPreschool through 8th gradeChildcarePublic transitManufacturing, construction, other work that is impossible to do remotelyThe state is also putting restrictions on private gatherings — indoor gatherings are limited to two households and 10 people, and outdoor gatherings are limited to 25 people.“In the spring, we listened to public health experts, stomped the curve, and saved thousands of lives together. Now, we must channel that same energy and join forces again to protect our families, frontline workers and small businesses,” Whitmer said in a release. “Right now, there are thousands of cases a day and hundreds of deaths a week in Michigan, and the number is growing. If we don’t act now, thousands more will die, and our hospitals will continue to be overwhelmed. We can get through this together by listening to health experts once again and taking action right now to slow the spread of this deadly virus."“Indoor gatherings are the greatest source of spread, and sharply limiting them is our focus,” said MDHHS Director Robert Gordon. “The order is targeted and temporary, but a terrible loss of life will be forever unless we act. By coming together today, we can save thousands of lives.State Senate Majority Leader Mike Shirkey, a Republican, released a statement sharply criticizing Whitmer's restrictions.“We are disappointed that Gov. Whitmer chose to go it alone, again," Shirkey said. "The Senate Republicans will continue working with our doctors and the medical community on ways we can combat this virus and are ready to work with the Governor when she decides to work as a team to fight this virus."The state has seen an upward trend in cases, with record single-day numbers. On Saturday, the state reported 7,072 new positive virus cases and 65 more deaths. On Friday, the state reached its highest single-day record to date with 8,516 new coronavirus cases reported.In the last five days, between Nov. 9 and 13, there were 35,009 cases of COVID-19 and the daily record was broken three times.More than one-fourth — about 27% — of the total cases since the pandemic began have come since the beginning of November.In one month, from Oct. 13 to Nov. 13, hospitalizations in Michigan increased 232%. There were 999 total hospitalizations on Oct.13 and 3,320 hospitalizations on Nov. 13.This story was originally published by WXYZ in Detroit. 3235

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