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15 Oct 2010 20:46

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Biz: Countrywide’s former CEO nailed with massive fine by SEC

  • You know Countrywide? Of course you do, if you have any knowledge of big evil companies that screwed millions of good people by convincing them to get into subprime mortgages. Before the proverbial doo-doo hit the fan, the company’s former CEO, Angelo Mozilo, cashed out big time, using his insider knowledge to ensure a big payday. Now, a couple years after the fact, the SEC twisted his arm until he agreed to forfeit a bunch of that money. The details:
  • $140 million in stock sold, based on insider information
  • $22.5
    million     the size of the fine Mozilo will have to pay to settle securities fraud charges
  • $45 million the amount Mozilo will have to give back due to the charges source
Posted by Ernie Smith • 0 Comments • Permalink

13 Oct 2010 10:54

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Biz, Tech: Don’t own any Apple stock? Start kicking yourself now, loser

  • $300.20 Apple’s opening stock price this morning, which is the first time it’s been above $300
  • 43% the stock’s increase this year alone; guess that iPad pushed it over the edge or something source
  • » And it gets better: In the time that Steve Jobs has been behind the wheel – since 1997 – the stock has increased immensely. It’s 30 times bigger than it was just seven years ago, when everyone was first going gaga over the third-generation iPod.
Posted by Ernie Smith • 0 Comments • Permalink

05 Oct 2010 20:10

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Biz: Hey, stocks had their first really good day in a long while

  • 10,944 the Dow’s close at the end of today – after a huge gain
  • 11,151 the Dow’s close on May 3, the last time it was this high source
Posted by Ernie Smith • 0 Comments • Permalink

03 Oct 2010 02:07

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Biz: Remember the stock market “Flash Crash”? Here’s how it happened

  • 1 click of a mouse in Kansas caused the stock market to dip 600 points

 

 

  • $4.1B the amount in futures the mutual fund was trying to sell that fateful day
  • 75k the number of contracts the company dropped onto the market
  • 20 the number of minutes it took for them to flood everything source
Posted by Ernie Smith • 0 Comments • Permalink

11 Aug 2010 21:57

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Biz: Increased trade deficit + nervous investors = SELL! SELL! SELL!

  • 18.8% increase in the trade deficit, to $49.9 billion
  • 2.5% decrease in the Dow because of this news
  • 2.8% fall in the S&P 500 for the same reason
  • 3% dip in the Nasdaq today; sigh source
Posted by Ernie Smith • 0 Comments • Permalink

16 Jun 2010 09:46

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Biz: Fannie & Freddie’s stocks so crappy right now, they’re getting delisted

  • what Fannie Mae and Freddie Mac, the two massive government-backed mortgage companies, are trading so lo that they’re about to be delisted.
  • when Expect both stocks to get removed from the New York Stock Exchange by July 8. They’ll trade in the the over-the-counter market instead. source
Posted by Ernie Smith • 0 Comments • Permalink

25 May 2010 10:01

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Biz: The stock market’s looking pretty cruddy in early trading

  • -2.6% the decline of the Dow Jones industrial this morning
  • -2.8% the decline of the S&P 500 in early trading this morning
  • -2.9% the decline of the NASDAQ; all have had cruddy months source
Posted by Ernie Smith • 0 Comments • Permalink
 

20 May 2010 20:04

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Biz: Stocks are in an even bigger correction mode than Rand Paul

  • 376 the Dow Jones’s loss today, the biggest this year source
  • » Is it a correction? Yes, yes it is. The Dow has fallen 10 percent since its April highs, meaning, by any technical definition, that it’s a correction. source
Posted by Ernie Smith • 0 Comments • Permalink

20 May 2010 10:34

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Biz: Jobless claims went up this weekend; stocks freak out

  • +25,000 the jump in new initial jobless claims, the first jump in over a month
  • -3% the size of the average drops for the three major stock indexes source
Posted by Ernie Smith • 0 Comments • Permalink

10 May 2010 09:59

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Biz: How Thursday’s “flash crash” might have happened

  • one A bunch of sell
    requests went in
    all at once. These trades were made automatically using computers.
  • two The older New York
    Stock Exchange’s
    circuit breaker went
    off – an automated
    attempt to cool off
    the market.
  • three The computers
    didn’t understand
    this, and totally
    freaked out
    because of the
    lack of buyers.
  • four The stock market
    “flash crash” sped
    up. In other words,
    one system didn’t
    understand the
    other. source
Posted by Ernie Smith • 0 Comments • Permalink
 
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