Down another 500
The Dow has reached the depths of 9450 or thereabouts. Maybe one day you can tell your grandchildren about the time when it stood at 14,000+. What's amazing about today is how Fed Chairman Ben Bernanke strongly suggested during a speech that interest rates would be cut again - the kind of news that in other times would move up the markets. Not now. "At this point it just doesn’t seem to be doing it. It’s the attitude of sell regardless of what the news is," Steve Sachs, director of trading at Rydex Investments, told the NYT.
1:02 PM Tuesday, October 7 2008 • Link
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© 2003-2008 • About LA Observed • Contact the editor
| The new owner is Minneapolis-based US Bancorp, which suddenly becomes a much bigger player in California and Arizona.
| Forget plastics, the real action these days is arranging going-out-of-business sales.
| Without referencing its recent layoff, the Ventura County Star's editor says the suburban LA paper is now "more streamlined and, in many ways, much more efficient."
| We stripped the Indians of their ponies, and now we're doing it to ourselves.
| When the sun looks like that, there's a big fire somewhere regardless of whether we see or smell smoke.
Lee Abrams, Tribune Company's chief innovation officer, doesn’t seem too impressed with the Los Angeles Times. That’s the feeling I got when he appeared at the Los Angeles Press Club.
Seven or fifteen minutes from now I can definitively say I didn't hear the sound of sirens.
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