This Just In: New on the Net

Bo Diddley died this morning in Florida. Unfortunately, even though he was a huge influence on the development of rock music, evil recording contracts kept for him from earning the fortune he so richly deserved. Anyway, here’s the news:

• Gas prices already have people howling, but if hurricane season really batters the Gulf Coast, we could be looking at paying six dollars a gallon. Experts are predicting a some burly storms this year, but given they’re almost always wrong, I think that’s an encouraging sign. CNN
• Cerberus has reportedly sold half of its interest in Chrysler, but the company is denying dumping any shares of Ma Mopar. How long before it retracts the denial? Freep
• The General has seen better days, and more bad news might be in the mail. It’s percentage of the market dropping lately, and might have fallen below 20% in May. Auto Observer
• Sky-high fuel prices could turn out to be a great turn of events for Honda. The automaker is actually having to raise production to keep up with demand. Motor Authority
• Just when Detroit needs a little TLC, the organizers of the North American International Auto Show are threatening to hold the event elsewhere. They say that the current COBO hall isn’t big enough, and want Motown to fund an expansion, but right now, the city doesn’t have a lot of cash to throw around. Detroit News via Jalopnik