Nothing but bad news....
- The Dow dropped 4.2% yesterday to 6763.29, its lowest close since April 1997.
- The Dow lost more than half its value since its high in October 2007.
- Citigroup dropped 20% and General Electric dropped 11%.
- The Institute for Supply Management said its measure of manufacturers' employment plans fell to its lowest level since monthly records began in 1948.
- Toyota Financial Services requested bailout funding from the state agency Japan Bank for International Cooperation-- they are asking the Japanese government for as much as $2 billion in emergency loans.
- The Commerce Department reported that construction spending declined 3.3% in January, but for the first time since the housing bust began the drops in nonresidential construction outpaced the fall in the residential sector.
- Gartner said that the personal computer industry “will experience its sharpest unit decline in history,” with worldwide PC shipments set to decline 11.9%.
- MBIA released 2008 results Monday, saying it lost $2.67 billion, up sharply from losses of $1.92 billion a year earlier.
- Of the 1.98 billion shares changing hands on the Big Board, just 38 million represents advancing volume, and the advances trailed declines, 185 to 2,934
 Bob DeMarco is a citizen journalist, blogger, and Caregiver. In addition to being an experienced writer he taught at the University of Georgia , was an Asociate Director and Limited Partner at Bear Stearns, was CEO of IP Group, and is a mentor. Bob currently resides in Delray Beach, FL where he cares for his mother, Dorothy, who suffers from Alzheimer's disease. Bob has written more than 500 articles with more than 11,000 links to his work on the Internet. His content has been syndicated on Reuters, the Wall Street Journal, Fox News, Pluck, BlogCritics, and a growing list of newspaper websites (15). Bob is actively seeking syndication and writing assignments. |
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