| High anxiety: Wall Street waits for Fed to make move on rate cut
In the 20 years Mike Marcotullio has worked on Wall Street, he's seen historic market reversals that pushed weaker men to the brink of despair. Like Jan. 23, when the Dow whipsawed 625 points in one day, fueling drama on the trading floor that ranked up there with the fallout from the crisis in the Long Term Capital Management hedge fund in 1998 and the technology bust of 2000 and 2001. "There has been a lot of fear, panic and insecurity in the markets and the U.S. economy based on the housing decline," said Marcotullio, senior principal in American Capital Partners, an investment bank in New York City. This week, the stock market has been buoyed by hopes Federal Reserve Board Chairman Ben Bernanke will announce a one-half percentage point decrease in the Fed's key rate today, and until he does, stocks will still be subject to wild swings, fueled by concern the unfolding housing crisis could lead to more write-downs in the financial sector and tip the country into recession.
Qwest stock dips under $6 after AT&T statement
Qwest stock dropped below $6 for the first time in nearly two years Wednesday, a day after larger peer AT&T told investors it is seeing a slowdown in the consumer wire-line and Internet businesses. Shares of Denver-based Qwest dropped 20 cents, or 3 percent, to close at $5.92, the lowest close since the stock ended at $5.84 on Feb. 15, 2006. The stock tumbled nearly 11 percent during intraday trading before a late rally Wednesday. Other land-line carriers also took hits over fears that their residential-phone customer base — already on the downswing amid competition from cable and cellphone companies — may further erode because of the economic slowdown. AT&T stock dropped 16 cents to $39, Embarq fell 51 cents to $46.54, and CenturyTel plummeted $2.91 to $36.41. "I think the markets in general are worried about a recession," said Donna Jaegers, an analyst with Janco Partners.
Jayees plan Fright Night; other Halloween events scheduled
MASON CITY — The Mason City Jaycees will be hosting Fright Night on Tuesday, Oct. 30, at the Olson Building at the North Iowa Fairgrounds.Fright Night is a low-cost event for all ages. The movie "The Corpse Vanishes" will be shown starting at 7 p.m. Doors will open at 5:30 p.m.Tickets for the event are $3 in advance and are available at CoffeeCat in Mason City, from any Mason City Jaycees member, HyVee East and West in Mason City, the Mason City Chamber of Commerce, and both Mason City locations of First Citizens National Bank.Tickets cost $4 at the door. Group discounts are available; four tickets will cost $10. Prior to the movie, a costume contest will take place and refreshments will be available. Door prizes will be awarded."The Corpse Vanishes" was made in 1942. It stars Bela Lugosi as the evil Dr.
Latest ULM blog: Outback Classic golf approaching fast
Since completion of the 2007 football season, the Warhawks coaches have been busily visiting prospects on the recruiting trail.On December 19th, we received our first real glimpse at the 2008 class as Coach Weatherbie announced the signing of six touted junior college prospects to national letters of intent during the early signing period for junior college prospects. With the early signings, ULM filled three immediate needs, replacing departing seniors Kendall Mouton and David Cooper on the defensive line, Quintez Secka and Darrius Battles in the defensive backfield, and Rimington Award and Lombardi Award candidate Adam Hill who has anchored the offensive line for the past four years. Among the six early signees are five junior college prospects that received a three-star rating by ESPN's national recruiting service Scout Inc.
Conservative wildcard a hit with young voters
The ones who are on-line all the time (like me) trying to get the message out. We hear about them all the time and they are sometimes used against his campaign. Who the mass media doesn't know yet is the silent majority. By defination they do not say much until it's time to vote. I have been looking at the presidential primary vote's of the 1996 and 2000 elections. These were the last times Republicans had choices for a canidate. The numbers are startling to say the least. Did you know Alan Keyes generally takes 15% of the vote. Also most winners take no more than 35% with few exceptions. Then factor in that the field has never been this wide open in my lifetime (I am 28). Dr. Paul will surprise most but not me. NH he is a lock, SC he'll be 2nd maybe 1st and probably a weak 3rd in Iowa. Then within three weeks super tuesday will tell us alot, as several states have open primaries (not mine- OK sucks but Tulsa's cool).
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