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...gain it had logged since mid-November's low of 741. The financial news, spiked with bankruptcies, bank losses, surging foreclosures, rising unemployment and a slew of lifestyle stories on how to live on less, is unnerving investors. On Thursday they confirmed their wariness by taking the Dow Industrials below 8000 briefly before boosting the index back to close at 8212, up 12.35 points...
...ascended to office on Jan. 20, 2001. The country witnessed a struggle for the presidency that lasted over a month past Election Day and President Bush faced the challenge of uniting a divided country. He also had to grapple with an inherited recession immediately upon assuming office. The Dow Jones reached its high in January 2000, one year before President Bush took the oath of office. However, these challenges paled in comparison to the extraordinary tragedy that befell the nation eight months later.The president’s most important accomplishment has been keeping America safe since 2001. Following the terrorist...
...Wednesday went down to predictable defeat on the Senate floor by a vote of 52 to 35 (failing to meet the 60-vote threshold to cut off a filibuster). The last time Congress failed to pass a bailout plan that most had assumed was a done deal, the Dow Jones industrial average dropped 777 points in one afternoon. The stock market on Friday morning was down only modestly, however, most likely reflecting Wall Street's expectation that Bush will step in. (See the 50 worst cars of all time...
...role in the current financial crisis may seem dated. The two and a half months since Lehman Brothers collapsed have been rather eventful—a presidential election, A.I.G.’s bailout, Citigroup’s bailout, a 2,000 point decrease in the Dow, Iceland becoming insolvent, a requested bailout for the Big Three automakers, and as of Monday a bona fide, American-made recession. Because of all of this, it’s easy to forget what started this debacle—the subprime mortgage fiasco. If you’ve forgotten, then...
...costs as a means to help the environment. Certain companies, driven by opportunities for increased profit, have shown that cutting back CO2 emissions is possible, he said. IBM and STMicroelectronics were able to cut their emissions by 6 percent while looking for ways to reduce costs. Similarly, when the Dow Chemical Company invested in efficiency rather than buy more fuel, it ended up with a $3.3 billion profit. From a consumer’s perspective, Lovins stressed efficiency over fuel consumption by addressing wasteful engineering in vehicles. “One hundred times the vehicle’s weight...