• Areva delays construction of new building
• Richmond-based Chesapeake Corp. may file for bankruptcy
• Deal to purchase Alpha Natural Resources falls through
• Sabra Dipping Co. to open manufacturing plant in Chesterfield
The Dow Jones Industrial Average plunged 679 points in late-afternoon trading Thursday as the U.S. Treasury’s proposal to invest in bank assets failed to soothe investors. Virginia stocks plummeted as well.
On the one-year anniversary of the Dow’s all-time high, it plunged to below 8,700 points, the first time since 2003. The S&P 500 fell 7 percent and the Nasdaq Composite fell 5.5 percent.
Another blow to stocks came when ratings agency Standard & Poor’s announced it was putting GM on credit watch negative.
Virginia stocks continued to take a beating as well. Richmond insurer Genworth Financial saw its stock prices fall 20.85 percent to $3.72. The insurance company has been hit hard by recent turmoil. Its stock was trading at $16 per share as recently as early September. Another Richmond insurer, LandAmerica Financial Group was slammed Thursday when its stock fell 37.07 percent to $12.85.
Other significant drops include: McLean-based Sunrise Senior Living, which fell 27.47 percent to $7.02, student lender SLM Corp. which fell 18.47 percent to $ 6.40, and Media General, which fell 17.65 percent to $8.91.
Here are how Virginia’s 15 largest stocks performed:
Altria, down 72 cents, $17.38
General Dynamics, down $4.64, $60.92
Dominion Resources, down $2.50, $35.05
Smithfield Foods, up 20 cents, $13.18
AES, down 46 cents, $8.63
Circuit City Stores, up 2 cents, 43 cents
Capital One Financial Corp., down $2.38, $8.63
Genworth Financial, down 98 cents, $3.72
Norfolk Southern, down $1.22, $31.27
CarMax, up 28 cents, $10.10
Gannett, down $1.24, $13.37
MeadWestvaco, down $1.45, $18.88
Owens & Minor, down $3.11, $38.93
NVR, down $33.21, $514.94
Advance Auto Parts, down $1.43, $27.97
The People Who Struck The Match, Set The Fire, and Fanned the Flames Which Are Burning Our Economy To The Ground Are
Conspiring To Shift Blame And Avoid Jail Time. And One Of Them Is Set To Be Our Next Attorney General.
The Major Players Including Jamie Goerlick, Franklin Raines, Daniel Mudd, and Jim Johnson are at the heart of this meltdown.
Aided By Chris Dodd, Barney Frank, Chuck Schummer, Henry Waxman, Maxine Waters, Artur Davis, Gregory Meeks, Lacy Clay, Harry Reid, John Kerry, Barrack Obama, and Nancy Pelosi.
http://www.youtube.com/watch?v=_MGT_cSi7Rs
These people owe the American People an explanation, an apology, and perhaps some jail time. Don’t take your eye off the ball.
These are the people who lit the match and fanned the flames. One Of The Players, Jamie Goerlick is set to be our next attorney General. We simply CAN’T let this happen or they will all go free.
http://www.wnd.com/index.php?pageId=67068
And You Certainly Can’t Dismiss Acorns Involvement In The Melt Down. Acorn Was Heavily Involved In Pressuring Banks To Make Less Than Credit Worthy Loans In Economically Depressed Areas.
Obama Was Their Lawyer When They Threatened or Sued Those Banks To Make The Worthless Loans
http://www.onenewsnow.com/Blog/Default.aspx?id=279960
GeraldD of Alabama
Oct. 9, 2008 at 10:20 PM
