Word: fallenness
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...Shares of Colonial had fallen as low as $1.44, plunging 46% in a week, on fears the firm wouldn't qualify for government assistance. On Thursday, though, the firm said it had applied to receive TARP funds. The company's shares rallied on the news to a recent $1.98. Colonial, based in Montgomery, Ala., is one of the nation's largest regional banks, with more than 340 branches in Alabama, Florida, Georgia, Nevada and Texas, and $16.8 billion in customers' deposits...
...real estate downturn. The bank, based in Columbus, Ga., with 34 branches and 440 ATMs in Georgia, Alabama, South Carolina, Florida and Tennessee, had a loss of $40 million in the third quarter. Synovus made $135 million in the same quarter a year ago. Its shares have fallen 40% in the past year, to a recent...
...Spectrem Group, a Chicago-based consultancy that tracks the habits of Americans worth between $5 million and $25 million, reported that the wealthy were dropping hedge funds from their portfolios. In 2005, Spectrem said, 38% of high-net-worth individuals invested in the funds; by 2007, the proportion had fallen...
...good news is that the commodity cycle eventually turns in your favor, and this time it is happening in a hurry. Corn prices were down more than 50% by November from their summer peak. Aluminum prices were down 20%, which makes can stock cheaper, and oil costs have fallen a third. That will help make international expansion less costly...
...northern Democrat, Barack Obama, win the Sunshine State in a presidential election for the first time since Franklin Roosevelt won it in 1944. Obama also took Pinellas County, which includes Crist's hometown of St. Petersburg. And Obama only lost nearby Sarasota County - which since 1944 hasn't fallen to any kind of Democrat, Yankee or otherwise - by a mere 237 votes...