The Finance Blog header image 2


Quick Thursday Blurb

August 7th, 2008 · No Comments

Stocks took another little hit today on more financial sectors doldrums, higher consumer borrowing costs, and weaker spending. But for the good news, I saved money on my car insurance. Just kidding (although, truth be told, Georgia is a cheaper state than Washington in terms of car insurance).

The Dow Jones Industrial Average lost 220 points, and the Nasdaq composite posted a relatively mild loss of 1% with help from gains in stocks like Microsoft and Intel. Insurer AIG posted a pretty heavy loss of $5.36 Billion predominantly from writedowns stemming from the credit collapse (you might have heard of it. If you haven’t, I don’t know where you’ve been).

If you’re a Blockbuster fan, I’m sorry to have to report that they posted a $44.7 Million lost for this past quarter–even with merchandising up. Netflix is kicking their butt in terms of subscribers; Netflix has just over 8 million compared to Blockbuster’s 3.2 Million.

On a funny note, a new website made it’s debut recently–and if you’re in the mood to sue someone, you should check it out. www.whocanisue.com

Tags: Banking & Trading

0 responses so far ↓

  • There are no comments yet...Kick things off by filling out the form below.

You must log in to post a comment.

Finance blogs Search For Blogs, Submit Blogs, The Ultimate Blog Directory