Bank of America is down 90 per cent

March 2009 Archives

SubscriptionsGo to the Subscriptions Centre to manage your:My ProfileOne cheap jordan sneakers of the truly shocking aspects of the current recession is the collapse in the stock price of iconic American companies. General Motors, in its 101st year, is on the verge of bankruptcy, saved only by billions of government aid. Citibank, a global colossus only last year, has lost 95 per cent cheap jordans in china of its share value. Bank of America is down 90 per cent. General Electric, once the most valuable company in the world, is off cheap jordans from china by cheap jordans online 75 per cent and had to cut its dividend. Even Microsoft has lost almost half of its value.Many books will be written in future years to explain how this could have happened, but one major factor stands out. Investors have encouraged companies to manage for higher short term profit at the expense of long term stability.Budgets are cut, your coworker just got the old heave ho, and now you’re picking up cheap jordans china the cheap jordans shoes pieces at work. After so many late nights getting caught up, it’s enough to make anyone lash out.But is losing your cool at work a good idea especially if your job cheap jordans for sale could be on the line?Most of us wouldn’t think so. But according to new research published in the Harvard Study of Adult Development, those who repress their frustration are at least three times more likely to admit that they’ve hit a glass ceiling in their careers. And they cheap jordans in china say they cheap Air max shoes have disappointing personal lives. Federal Reserve chair Ben Bernanke certainly caught the market by surprise earlier this week when he announced the Fed would be buying $300 billion in medium to long term treasuries.Of course, this was one of the next steps it had to consider because the other source of firepower to deal with the ongoing economic malaise, interest rates, had no room to move because rates are effectively at zero.The effect of buying treasuries is the quantitative easing that the Fed talked about when it dropped interest rates to the current, historically low levels.Working with CBC Radio has been a highlight of my professional life. One of the particular joys in this job is receiving listener feedback. I get intelligent criticism and commentary and terrific ideas for future columns.For example, Michelle Coutreau, from Prince Edward Island, who identifies herself as belonging to an upper middle income household with strong environmental concerns, asks whether her spending and saving habits buying local, car pooling, mending clothes rather than just throwing them away and eschewing conspicuous consumption should be the subject of praise or scorn.At the end of the month, when there’s money cheap air force left over, would good citizenship mean going on a spending spree for its own sake?I know that some of our clients cheap air jordan don’t cheap yeezys open the mail we send them. For them, ignorance may not be bliss, but it is better than facing the harsh reality of the past six months. cheap adidas I know we also have clients who monitor their portfolios constantly through the day and who watch business television for hours on end. For these clients, there can never be too much information. I think both of these www.mcjordanshoes.com groups are getting it wrong.It is obvious that no matter how much you watch the market, watching will not make it go up. It is equally true, though, that watching too much can make your spirits go down. Daily and even hourly fluctuations become like hits of a powerful mood altering cheap jordans free shipping drug. A sudden rally leads to exultation and a last minute slump causes a depression.These days, every form of media is taking a financial beating, and this beating started way before the unpleasantness in the current market. Whether it is television, newspapers or radio, the ad revenue is just not coming in the way it used to. There’s a major sea change going on in the way companies are choosing to spend their advertising dollars, and it’s hurting the industry to such an extent that television stations are closing down, magazines are disappearing off the shelves, and institutions like our own beloved CBC are planningA stock market crisis cheap jordans on sale is a double edged sword or as the ancient Chinese proverb cheap nike shoes defines crisis, “danger plus opportunity.” Cheap jordans Watching your investment portfolio dropping in value, no matter how little or much you have saved, creates ever increasing anxiety as we watch our gains disappear and slowly erode the original investment, creating a certainty in our mind that this all will go to zero.But is it really time to run for the hills or does that second part of the definition of crisis hold true.

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