Word: stockely
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...that he plans to prune the company's offerings in the coming months. It will also try to monetize some previously ad-free products like Google Finance and News. Such efforts may help it weather the economic storm without resorting to layoffs, even if it doesn't bring its stock price any closer to the November 2007 high of $732 per share. (It closed on Wednesday at $279.) And it's still got some $14 billion in cash reserves. So for now, at least, the free lunches are still...
...think she was courting controversy. "I was saying things that seemed completely milquetoast," she recalls. Ghilarducci did bring up a bold proposal to replace the 401(k) with a mandatory, government-run pension plan and suggested that Congress immediately allow retirees to swap 401(k)s battered by the stock market's collapse for monthly payouts from the government. But she had floated both ideas before, to little effect. (See pictures of the global financial crisis...
...pictures of the stock market crash...
...just the lawmakers but also the public. As Congress was debating whether to bail out Wall Street, public opinion began to turn when folks lost half their 401(k) investments practically overnight. Though the failure of just one of the Big Three could have similar repercussions on the stock market, the public is not feeling the pressure just yet to support such a move. A recent USA Today/Gallup poll found that 47% of Americans believe that providing relief to the industry is not very important...
...bubble burst. Since the announcement did not come as a surprise—many economists have been warning of a recession for months—Poterba said he thought that the psychological consequences of the official declaration would be modest. Though there was a broad selloff in the stock market yesterday, including a nearly 700 point decline in the Dow Jones Industrial Average, Harvard Kennedy School professor Jeffrey A. Frankel, who is also on the committee, said that he does not think the announcement was responsible. Though the committee does not recommend steps to pull the nation...