Oil Hits $76 a Barrel

The AP is reporting that "Wall Street suffered sharp losses for a second straight session Thursday as a new record for oil prices and discouraging analyst remarks about Wal-Mart Stores Inc. intensified concerns about consumer spending.

"Escalating tension in the Middle East carried oil past $76 a barrel..." (Here's the link to the article.)

This month's issue of the magazine includes an article by staff writer Stephanie Clifford, on how companies are coping with rising fuel prices. Obviously, record prices will affect/hurt any company with a fleet of vehicles or with a supply chain that spans the globe. But as Stephanie points out, one of the more interesting wrinkles of the problem is that high gas prices tend to create friction between employers and workers, who feel like they're getting hammered at the pump.

In response, more companies are instituting commuter benefits and okaying telecommuting arrangements. Have you done anything to placate workers over high gas prices?

Mike Hofman was previously editor of Inc.com and a deputy editor at Inc. magazine, which he joined in 1996. The site was nominated for a National Magazine Award for Digital Media in 2010, and was named the best business website by Folio Magazine. In 2006, Hofman was part of a team of writers nominated for a Webby Award for best business blog. He lives in New York City. @mikehofman