Word: stockly
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...pictures of the stock market crash...
Financial stocks were a big drag on Thursday's market - banks fell 6.6%, led by Bank of America's 14% decline. Real estate-related sectors were also sharp decliners, with home construction stocks falling 9%. Both sectors, finance and housing, are at the heart of the goverment's efforts to address the financial crisis. On February 10 Treasury Secretary Timothy Geithner unveiled a multi-pronged plan for troubled banks, and on Wednesday President Barack Obama announced a $275 billion program to stem foreclosures and support the housing market. Today's stock market action suggests investors are still in doubt about...
...National Press Club and said that the federal effort to address the financial crisis could produce improvements in 2009. But he also cautioned that there was no economic momentum, and that inadequate federal action could result in a continued deterioration in the economy. (Find out why the stock market keeps dropping...
...Gang, or VG, an Oslo-based afternoon daily often cited as a model for how to thrive in the brave new newspaper world. VG is owned by Schibsted, a media conglomerate that embraced the Net early and rode out seven years of heavy losses before getting it right. The stock market wanted CEO Kjell Aamot's head, and Schibsted's board was fully prepared to give it to them. Only Tinius Nagell-Erichsen, the revered former chairman who controlled the Schibsted family's trust, said no. Now VG's website, VG.no, is Norway's biggest destination, period...
None of this gets to the core of the issue. What distinguished Wall Street pay in recent years was less its short-term nature (even before the crisis, a large chunk of bonuses was paid in restricted stock that couldn't be cashed in for years) than its staggering generosity. This remunerative largesse extended far beyond the top five or even top 25 executives at big firms. Shortly before its merger with Bank of America at the beginning of this year, Merrill Lynch paid bonuses of at least $1 million to 700 employees--after the firm's worst year ever...