Dow at 11,006, down 46 points.
NEW YORK (AP) — Stocks are finishing November on a down note as
investors worry that Europe’s debt crisis will continue to
Major indexes pared their losses Tuesday after President Barack
Obama and Republican leaders said they would try to find a way to
extend Bush-era tax cuts.
According to preliminary calculations, the Dow Jones industrial
average fell 47, or 0.4 percent, to 11,006.
The S&P 500 fell 7, or 0.6 percent, to 1,181. The Nasdaq
composite index fell 27, or 1.1 percent, to 2,498. All three
indexes are down for the month.
Two shares fell for every one that rose on the New York Stock
Exchange. Trading volume came to 1.5 billion shares.
lll Call me this morning, Wednesday, at (206) 498-0920 until I
get over some phone difficulties with my regular number. Rachel
Some of you have called asking how the estate sale of two
historic Bremerton families went. The sale for the King and
Benbennick families took place in the family home on Burwell Nov. 5
I wrote about it here:
Contained in the sale is an almost untouched collection of
burnished mahogany furniture, silver, jewelry, Persian rugs,
delicate linens, a Native American basket collection and
Mike Wall, the appraiser handling the sale, got back to me since
and reported the event was nearly a sell-out, and that the estate
will be delighted. There is only one niece remaining, in Tennessee,
and some various and sundry extended relatives.
I had my doubts about the sale, I admit. Parking is almost
And so, the final chapter, complete.
Rachel Pritchett, reporter
Kitsap Mall stores all open at 4 a.m., except Kohl’s, which will
open at 3. Rachel Pritchett
Dow now down 89 points at midday, to 11,113.
NEW YORK (AP) — Broad stock indexes are down sharply in midday
trading as concerns grow that the European financial crisis will
Ireland requested financial assistance Sunday from the European
Union and International Monetary Fund.
It was the second time that the EU has come to the rescue of one of
the 16 countries that use the euro. Traders worry that Portugal and
Spain may also need bailouts in order to repay their debts, which
would could cause the value of the euro to fall. The euro is down
0.7 percent against the dollar.
The Dow Jones industrial average is down 86, or 0.8 percent, to
11,118. The S&P 500 is down 7, or 0.6 percent, to 1,192.
The Nasdaq composite index is up 1, or less than 0.1 percent, to
Today, an average gallon of unleaded is going for $3.10, up
three cents from a month ago and up 25 cents from a year ago,
according to the auto club AAA.
Midday Dow at 11,269, up 77 points.
NEW YORK (AP) — Stocks rose Monday following a spike in
corporate dealmaking and news that retail sales jumped to the
highest level in seven months in October.
Consumer spending rose 1.2 percent last month thanks to higher
demand for automobiles, the Commerce Department reported. The gain
was nearly double what analysts were expecting. Shares of Ford
Motor Co. rose 5.5 percent following the annoucement.
Caterpillar, the world’s largest construction machinery maker, said
it would buy mining equipment maker Bucyrus International Inc. for
$7.6 billion in cash, a 32 percent premium over the company’s
closing price on Friday. Shares of Caterpillar rose 2.7
Data storage company EMC Corp. also announced that it had reached a
deal to buy competitor Isilon Systems Inc. for $2.2 billion in
cash. It is offering $33.85 per share, a 29 percent premium over
its closing price on Friday.
The push for mergers and acquisitions is a good sign for investors,
said Uri Landesman, the president of Platinum Partners, a hedge
fund in New York City. “It’s a statement that companies are moving
out from under the bombshells of 2008 and 2009 and that they don’t
think there will be another disaster,” he said.
Corporations are holding records amount of cash on their balance
sheets. Using that cash to buy rivals or to expand into new areas
could be a sign that companies are less concerned about the
possiblity that that economy will slide into another recession
The Dow Jones industrial average rose 66.07, or 0.6 percent, to
11,258.65 in afternoon trading.
By Rachel Pritchett
The two sides in protracted grocery-store labor negotiations
will return to the bargaining table.
According to a statement issued Friday from the United Food and
Commercial Workers Local 21, their negotiators and those from
Allied Employers, which represents Albertsons, Fred Meyer, QFC and
Safeway, will begin a new round of talks next Thursday and
The decision was made Friday morning.
This week, 94 percent of the thousands of grocery-store workers
throughout Western Washington voted to authorize a strike. Many
hundreds participated in two voting opportunities in Bremerton.
The strike-authorization vote followed months of contract
extensions affecting a core 15,000 workers after their contracts
expired beginning in May. It remains in effect.
Issues centered on pay for all days workers were sick, and new
wage, hour and benefit levels in a recessionary economy.
I have just learned that UFCW 21 and Allied Employers,
representative of the “Big Four” grocery stores, are heading back
to the table. A new set of labor negotiations will be on Thursday
and Friday, Nov. 18 and 19. Look for my story soon.
Rachel Pritchett, reporter