Posts tagged economic crisis 2008
It’s just too pitiful…. I...
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Dow closes below 8,000
Wall Street hit levels not seen since 2003 as the fate of Detroit’s Big Three automakers and the economy disheartened investors.
By SARA LEPRO
The Associated Press
NEW YORK — Wall Street hit levels not seen since 2003, with the Dow Jones industrial average falling below the [...]
Hmmm… when you need money, shou...
The state is starting to cut the budget to try to close a now five-billion-dollar gap.
Chosing to bypass asking pan-handlers in Pioneer square for the money, they went directly to the second poorest group of citizens…. college students.
Yep, tuition and fees are going up, and opportunities will be going down.
Here is the story
Our o [...]
At least Renton is paid for
Today the Seattle Times published an upbeat story about a local family doing just fine in the tough economy. Hard work, smarts, and good values were keeping them afloat. The nicest part…they are an “average” Renton family!
When I read the article it reminded me of a quip that I used to hear from Donald Custer, who is a fre [...]
Bummer! Kenworth to suspend productio...
Here is the latest update from our Economic development department. We will deeply regret the loss of jobs, and the loss of prestige that comes from manufacturing the best 18-Wheelers on the highway. Let’s hope Kenworth maintains the option of restarting in Renton when the economy improves.
My sincere sypathy to you readers that are [...]
Retirement fund losses on our minds&#...
While I’m trying not to think about it too much, it’s tough not dwell a little on my retirement fund (401-K) losses from the last year–the last few months in particular. Everything looked so great a year ago; like many other people at my day job, I even kicked around ideas of trying to retire when I hit 55. Now, who knows [...]
What would have happened if we had bo...
The discussion on another thread got me wondering about other possible outcomes of our highland renewal debates two years ago. I think fate, and uppity citizens, may have helped us dodge a bullet; credit has dried up, property owners are losing equity, and and builders are taking losses on their projects.
Here are my thoughts on the topic. [...]
Lehman Brothers Boss Defends $484 Mil...
Please don’t miss this story on ABC News.
There’s nothing like seeing the Lehman Brother’s Boss seething with anger at the government for not bailing out his company AFTER he had taken $500 million in compensation over the last eight years.
You could not write fiction like this… no one would believe it.
Main Street turns on Wall Street; For...
Fortune Magazine points out we will be see lots of renewed debate about regulation in the coming years as a result of this latest bailout. The challenge may be to keep the pendulum from swinging too far the OTHER way now, as people begin pushing to regulate everything.
Here is a quote from the story:
Union leaders like the AFL-CIO’ [...]
Get ready for another crazy Market da...
Apparantly, the White House “bailout” meeting did not go quite as well as first reported today.
Click here for the Market Watch story.
Tomorrow will be another wild day on Wall Street. I’m hopeful that I will still be able to retire by age 75, but we’ll see after the market opens.