Word: kadlec
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...straight day on the slippery slope, the Dow Jones Industrial Average stands at 6,477.35, down 8.6 percent from its 7,085.16 high of March 11. It's not a bear market yet. But it doesn't look good. "I think we're in trouble," says TIME's Daniel Kadlec. "Usually during a downturn, people are tempted to buy, but this time they're afraid to step up." Right now, the reason for that fear is Friday's employment report. An unexpectedly high number, enough to spur Alan Greenspan to raise interest rates again, could send the markets reeling anew...
...Daniel Kadlec...
...Daniel Kadlec is TIME's Wall Street columnist. Reach him at kadlec@time.com
...Daniel Kadlec questioned why Reebok appeared on the California Public Employees' Retirement System's list of laggard companies [MONEY IN MOTION, Feb. 24]. He overlooked 12 reasons: the members of the Reebok board. The sneaker company's "lean years" landed it on the CalPERS list, and rightfully so: $100 invested in its stock in 1991 was worth only $122 five years later, vs. $232 for industry competitors. Sure, Reebok's stock has seen the light in the past 10 months, but this glitch hardly gives CalPERS assurance of the company's future long-term success. Our putting Reebok...
...Daniel Kadlec is TIME's Wall Street columnist. Reach him at kadlec@time.com