On Wild Day, Dow Rallies In Final Minutes
The markets have had a wild ride, with the Dow Jones industrial average falling more than 700 points at one stage before closing down 128 points. More than once, the Dow fell below 8,000 points. Roben Farzad, senior writer for BusinessWeek, says fear has gotten the best of everyone.
Amid Turmoil, Credit Markets Remain Tight
The measure of the markets that makes policymakers most nervous is the availability of credit. Will Aston-Reese, vice president for money-market sales at Tradition Asiel Securities, says watching the credit markets over the past few weeks has been akin to watching paint dry.
G-7 Ministers Meet To Plan Financial Recovery
Central bankers and finance ministers from the Group of Seven industrialized nations are meeting with President Bush Friday and Saturday. They are looking at ways to restore order to financial markets and avert a lengthy recession.
Economy, Accusations Cap Week In Politics
The campaigns of Barack Obama and John McCain are hurling negative adjectives at each other. David Brooks of The New York Times says they are not focusing enough on the big issue at hand: the economic crisis. E.J. Dionne of the Washington Post says the campaign has swung Obama's way because of the crisis, and he hopes it will bring a more serious discussion of how the government can help people.
As Economy Reels, Automakers Feel The Pain
The stock prices for Ford and General Motors have taken a beating this week and there are new concerns that the companies might not survive the economic downturn. The companies have spent three years undergoing massive restructuring and cost cuts.
Amid Financial Woes, Business Schools Adapt
Teachers and professors across the nation are using the financial crisis as a lesson for their students. A class on global economics in the MBA program at Thunderbird School of Global Management in Phoenix examines the downturn.
Portland, Ore., High School Eyes Money Crisis
At Lake Oswego High School outside of Portland, Ore., Gerrit Koepping brings current events into the classroom every day. High school students at Koeppings' U.S. government classes are learning from the current economic crisis.
Author Offers Tips On Explaining Economy To Kids
In these days of grim and anxious economic news, how can parents effectively talk with their children about finances? Janet Bodnar, deputy editor of Kiplinger's Personal Finance Magazine and author of Raising Money Smart Kids says it's important to be honest about the situation but not overload children with information.
Will Sports Weather The Economic Storm?
Sports have historically been recession-proof. Sportswriter Stefan Fatsis says events like the Sept. 11, 2001, attacks had little impact on the sports business. But, he says, in the present economic climate three issues must be considered: the credit market, corporate fallout and fans.
Exploding Pumpkins: Gourd, What A Mess
It's turning out to be a bad year for pumpkins in the Northeast. Thanks to an unusually wet year, giant pumpkins are growing too fast and are spontaneously bursting. Growers of smaller pumpkins also say the crop is the worst it's been in years.