So much for the Dow’s 2009 high. Good news on jobs is bad news for stocks
Filed under: Economy, Investing
It was silly season on Wall Street Friday. November’s unemployment figure — still a dismal 10% and subject to revision — came in stunningly better than expected and the markets immediately soared to fresh 2009 highs. The Dow Jones Industrial Average ($INDU) alone shot up as much as 150 points in early trading.
And then, at about 11 a.m. Eastern, everybody decided to sell. “I don’t know what happened,” says David Wyss, chief economist at Standard & Poor’s. “Some of it was probably just profit taking, but anybody who believes in rational markets hasn’t looked at them very long.”
Continue reading So much for the Dow’s 2009 high. Good news on jobs is bad news for stocks
So much for the Dow’s 2009 high. Good news on jobs is bad news for stocks originally appeared on DailyFinance on Fri, 04 Dec 2009 18:45:00 EST. Please see our terms for use of feeds.
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So much for the Dow’s 2009 high. Good news on jobs is bad news for stocks
Tags: a-friend-via, carry trade, davidwyss, dennis gartman, gold, infocus, jobs, markets, oil, season-on-wall, street-friday-
Cans of Slim-Fast recalled nationwide due to possible health risk
Filed under: Company News, Economy, Healthcare
Dieters who drink Slim-Fast shakes to curb their appetites may find the product works rather differently than planned — at least that’s what the maker of the popular ready-to-drink nutritional supplement is concerned about. Citing possible micro-organism contamination, New Jersey-based Unilever United States has voluntarily recalled all cans of Slim-Fast because they may cause diarrhea and possibly nausea and vomiting.
Unilever said the nationwide recall involves all 11-ounce cans of Slim-Fast, including those sold in four-, six- and 12-packs as well as individual cans, regardless of flavor, use-by date, lot code or UPC number. The likelihood of any “serious health consequences” caused by ingesting Slim-Fast is remote, Unilever said.
Continue reading Cans of Slim-Fast recalled nationwide due to possible health risk
Cans of Slim-Fast recalled nationwide due to possible health risk originally appeared on DailyFinance on Fri, 04 Dec 2009 17:30:00 EST. Please see our terms for use of feeds.
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Cans of Slim-Fast recalled nationwide due to possible health risk
Tags: carry trade, dennis gartman, gold, infocus, nationwide, oil, season-on-wall, slimfast, the-nationwide, unilever, what-the-maker
As interim CEO, GM’s Whitacre wastes no time in shaking up management
Filed under: Company News, People, General Motors
General Motors Co. Chairman Ed Whitacre Jr. urged the troubled automaker’s employees to forget their old bureaucratic culture, telling them Friday not to fear being fired for taking risks.
Whitacre, who also announced key management changes, wants to speed up the automaker’s shift to an entrepreneurial culture where decisions are made quickly.
“We want you to step up. We don’t want any bureaucracy,” Whitacre told employees, strolling back and forth across a stage at the company’s headquarters here. “We’re not going to make it if you won’t take a risk,” he told the audience of 800.
Continue reading As interim CEO, GM’s Whitacre wastes no time in shaking up management
As interim CEO, GM’s Whitacre wastes no time in shaking up management originally appeared on DailyFinance on Fri, 04 Dec 2009 16:44:00 EST. Please see our terms for use of feeds.
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As interim CEO, GM’s Whitacre wastes no time in shaking up management
Tags: automaker, carry trade, ed whitacre, edwhitacre, entry, general-motors, infocus, the-automaker-, whitacre
California gives green light to space-based solar power project
Filed under: Energy, Company News, Green
Beaming solar power down from outer space is A-OK according to the California Public Utility Commission. The regulatory body voted unanimously Thursday to approve a “Power Purchase Agreement” signed between the state’s largest utility, Pacific Gas & Electric (PCG), and Solaren Space. The Southern California start-up is developing technology for what it hopes will be an orbiting solar power collection system that could add a whopping 200 megawatts to the Golden State’s increasingly green grid. The project will cost $2 billion, Solaren executives estimate.
The concept is not new. Satellites orbiting far enough outside our atmosphere can capture solar energy around the clock, and without power-reducing cloud cover or atmospheric interference. The satellites use photovoltaic panels, much like those that are installed on ordinary buildings, to capture solar energy and convert it into electricity.
Continue reading California gives green light to space-based solar power project
California gives green light to space-based solar power project originally appeared on DailyFinance on Fri, 04 Dec 2009 16:30:00 EST. Please see our terms for use of feeds.
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California gives green light to space-based solar power project
Tags: a-gives-green, antenna, carry trade, entry, fresno, golden-state, green, infocus, orbit, power-purchase, regulatory-body, satellite, solaren, solarpower
