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Originally posted by Kiwon
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Time to sell."Never, never ever support a punk like mraynrand. Rather be as I am and feel real sympathy for his sickness." - Woodbuck -
Shit piss fuck. This is going to hurt someone.
United Shares Fall on False Bankruptcy Report
By MICHELINE MAYNARD
Shares of United Airlines lost nearly all their value Monday morning when a false rumor swept financial markets that the struggling carrier had filed for bankruptcy protection.
United shares traded at one cent in late morning on the New York Stock Exchange, down 99.92 percent, or $12.29. Its volume was more than 29 million shares. Trading in United shares was halted at 11:08 a.m., pending news from the company. Trading resumed at 12:30 p.m., and by early afternoon, shares had nearly recovered, down 70 cents, to $11.60.
A United spokeswoman, Jean Medina, denied the bankruptcy rumor.
The circumstances surrounding the rumor were still being sorted out Monday afternoon.
In a statement, United said the rumor occurred when the Web site of The Sun-Sentinel, a Florida newspaper, posted a six-year-old story from The Chicago Tribune archives about United’s previous bankruptcy filing. The airline operated under bankruptcy protection from 2002 through 2006.
“United has demanded a retraction from The Sun Sentinel and is launching an investigation,” the airline said in a statement.
On its Web site, however, The Chicago Tribune reported a different set of events. The Tribune said a reporter for Income Securities Advisors, an investment research firm based in Miami, found a Tribune article in the Sun-Sentinel archives during a search for information about bankruptcy situations. The reporter at Income Securities posted the article to Bloomberg News, and the rumor then spread rapidly, The Tribune said.
The article did not appear on the Web site of The Chicago Tribune or The Sun-Sentinel, people with knowledge of the situation said. The Tribune said it had removed the article from its archives.
The rumor moved rapidly through airline, market and legal circles. Despite United’s denial, it may have had credence because United has struggled in the wake of record fuel costs, posting losses in the first and second quarters.
The airline, which cut jobs and eliminated its pension plans while under bankruptcy protection, has accelerated its cost-cutting this year. Like other airlines, United has announced plans to cut flights and ground aging planes. It will also eliminate 7,000 more positions.
Although some analysts have raised questions about United’s long-term outlook, another bankruptcy filing has not appeared to be imminent. United is in a battle with its pilots’ union, which has called for the resignation of its chief executive, Glenn F. Tilton. In turn, United sued pilots this summer, after they staged a slowdown that caused the airline to cancel hundreds of flights in late July.C.H.U.D.Comment
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Hopefully the assholes who spread the false rumors. Maybe they could just kill Giuliani to make up for it.Originally posted by Freak Out"Never, never ever support a punk like mraynrand. Rather be as I am and feel real sympathy for his sickness." - WoodbuckComment
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Originally posted by mraynrand
Are you a lover of his? Family member? Rudy is a scumbag as far as I'm concerned..do I wish him dead? No...if he was hit by a truck would I shed a tear? No.
C.H.U.D.Comment
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You already are on record as wishing him dead in the WTC collapse. Sorry, not letting you off the hook. Giuliani = effective politician and leader with flaws.Originally posted by Freak OutOriginally posted by mraynrand Are you a lover of his? Family member? Rudy is a scumbag as far as I'm concerned..do I wish him dead? No...if he was hit by a truck would I shed a tear? No."Never, never ever support a punk like mraynrand. Rather be as I am and feel real sympathy for his sickness." - WoodbuckComment
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Flaws? You sure America's Mayor has flaws?Originally posted by mraynrandYou already are on record as wishing him dead in the WTC collapse. Sorry, not letting you off the hook. Giuliani = effective politician and leader with flaws.Originally posted by Freak OutOriginally posted by mraynrand Are you a lover of his? Family member? Rudy is a scumbag as far as I'm concerned..do I wish him dead? No...if he was hit by a truck would I shed a tear? No.C.H.U.D.Comment
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For the love of god, don't buy anything financial sector.Originally posted by BretskyThe only time success comes before work is in the dictionary -- Vince LombardiComment
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CEO: Fannie/Freddie Bailout Makes America 'More Communist than China'
Jim Rodgers is definitely someone who is often swimming upstream. He's not afraid of stating his position whether popular or not. I respect him for it even though I may not agree.
In this case, though, I hate what the government is doing and I can't disregard his opinion.
The last few months have been a nightmare: The Farm Bill, Banking bailout, Mortgage bailout, now the Fannie, Freddie bailout with the auto manufacturers also looking for help from Uncle Sam.
Whatever happened to "the free market" with its corrections, risks and rewards?Comment
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“Bank stocks around the world are going through the roof, that’s because they’ve all been bailed out. You don’t see the homeowners in Kansas going through the roof because they’re not being bailed out.”
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Bobble says no bank stocks. This guy says bank stocks are great. Don't homeowners in Kansas and elsewhere also own banckstocks?
I'm confused. What is going to happen with Fanny and Freddie with this bailout. Are we (US govt.) just going to back them up, no matter what, forever?"Never, never ever support a punk like mraynrand. Rather be as I am and feel real sympathy for his sickness." - WoodbuckComment
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Wells Fargo wrote down around $500 million of Fannie/Freddy Preferred stocks on their balnce sheets yesterday....more banks will have to follow.
The Pfds. were down big yesterday trading around $3 down from $15 or more.After lunch the players lounged about the hotel patio watching the surf fling white plumes high against the darkening sky. Clouds were piling up in the west… Vince Lombardi frowned.Comment
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Wasn't Wells Fargo one of the banks that was in excellent financial health before during and after the housing bubble? I suspect they'll do well throughout. Bobble?Originally posted by HowardRoark"Never, never ever support a punk like mraynrand. Rather be as I am and feel real sympathy for his sickness." - WoodbuckComment
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Oil is almost back under $100 a barrel...soon people will be buying SUV's again! Now if the stock market would start going back up!Comment
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I would expect the stock market to rise with every inflow of Fed cash, like it did after the Freddie/Fannie bailout. If/When Lehman Bros. and the big three automakers get slopped at the Fed trough, expect short term gains.Originally posted by LL2
Bad news is it's likely to fall again right after because the fundamentals are so bad.One time Lombardi was disgusted with the team in practice and told them they were going to have to start with the basics. He held up a ball and said: "This is a football." McGee immediately called out, "Stop, coach, you're going too fast," and that gave everyone a laugh.
John Maxymuk, Packers By The NumbersComment
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I think they are going to let Lehman die......Originally posted by Maxie the TaxiAfter lunch the players lounged about the hotel patio watching the surf fling white plumes high against the darkening sky. Clouds were piling up in the west… Vince Lombardi frowned.Comment
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I'd be surprised. The discount window's open, so Lehman (or a purchaser) can mop up directly on Fed "loans." Would fly beneath the media radar.Originally posted by HowardRoarkOne time Lombardi was disgusted with the team in practice and told them they were going to have to start with the basics. He held up a ball and said: "This is a football." McGee immediately called out, "Stop, coach, you're going too fast," and that gave everyone a laugh.
John Maxymuk, Packers By The NumbersComment
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