Rockwell Automation (ROK)

[Investorman]

More serious problems -

Lobster prices tank as diners claw back spending
By CLARKE CANFIELD
Associated Press Writer
The Associated Press
updated 9:24 p.m. MT, Wed., Oct. 22, 2008

PORTLAND, Maine - The price of Maine lobster, which accounts for 80 percent of the U.S. catch, is tanking.

The primary factor, a drop-off in demand by penny-pinching diners, has been in place since summer. But a secondary problem recently surfaced: the global banking crisis left Canadian processors short on credit, trapping Maine lobstermen and dealers with too much supply.