Go, Economy!

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Originally Posted by Yoshi

Are you sure? I know for a fact that the Kentucky plant avoids union workers like the plague.

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Oh well, Gooch took the 1000th post. :(

Anyways, Yeah the NUMMI is the GM / Toyo joint factory where I believe they employ UAW's with GM. But a union is not actually the bad guy (they can be sometimes) in the auto industry. Hyundai has union workers in South Korea and I think ze Germans do too. I can't remember if the Japanese companies have union workers back in Japan.

They avoid American unions because they know about American unions and because building cars in the states for them is mostly political posturing so they do it on the cheap and let the UAW set a wage/benefits ceiling. If the UAW fails in America look to see the wages of their workers take a hit little by little.

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Originally Posted by Bojack

Originally Posted by Yoshi
Are you sure? I know for a fact that the Kentucky plant avoids union workers like books.

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Originally Posted by MarsKitten

Short selling is a vital correctional tool. Naked short selling needs to die in a fire.

Short selling = Borrowing a stock from an investor, selling it at the current price and rebuying it later at a lower price while keeping the profit (then returning it).

Naked short selling = doing the sale without any actual stock to short, it is illegal but hardly ever enforced.

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Short selling should be outlawed. It's stupid in concept. IIRC it also can severely over value the stock(s) being short sold which is bad.

No.

it was below 8000 but bounced back up to 8150, CRISIS AVERTED

nope

credit still sucks

The old guy from the early show used words such as "biblical" and "catastrophic" to describe the market today. I chuckled.

DIABOLICAL!

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Originally Posted by kingoffighters

DIABOLICAL!

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REPREHENSIBLE!

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Originally Posted by Bojack

Short selling should be outlawed. It's stupid in concept. IIRC it also can severely over value the stock(s) being short sold which is bad.

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Um why? Its simply a bet the company is doing poorly. Unlike regular long term investing its taxed at the shortterm capital gains. Long term investors are still advantaged by ltcg lower taxes plus dividends.

Shorts can still lose money when the company does well. But has the advantage that everything is more likely to fail than suceed.

As for recovery, remember that the majority of trades are done around the closing bell. Also a one day spike does not a recovery make. I'd not declare the wallstreet crisis "officially" over until we're seeing the bailout actually in places for a few weeks.