Word: plummet
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UPMIFA was originally drafted following the collapse of the “dot-com bubble” in the early 2000s, Kerr said. Newly wealthy individuals transferred funds to foundations, only to see the value of these gifts plummet with the stock market—thereby rendering them unusable. The current economic crisis is in some ways a “repeat of the doc-com bust, but more widely spread,” Kerr said...
Bank stocks have continued to plummet since the program was started in mid-October. Two of the nation's largest banks, Citigroup and Bank of America, have had to tap the relief fund twice, yet neither bank appears any more stable. Indeed, concerns about Bank of America's insolvency have grown, not shrunk, in the past few months. What's more, none of the government money spent so far has done anything to increase lending or lower foreclosures. (See the best business deals...
...that the government is buying preferred shares and not common stock. Miller says preferred equity does nothing to help out common shareholders. That's because holders of preferred shares can demand their money back before holders of common stock can. As a result, bank stocks continue to plummet. And no matter how much total capital a bank or any firm has, if its stock goes to zero, it can't really operate...
Such optimism in the face of prevailing economic gloom is understandable given the apparently recession-proof recipe McDonald's has cooked up. Indeed, while most companies limped out of 2008 on slumping results that look likely to plummet in 2009, McDonald's on Monday announced earnings of $985.3 million in the fourth quarter of last year. While that near billion-dollar activity represented a 23% drop over the same period the previous year - due mostly to an extraordinary tax bonus accounted to 2007 books - McDonald's also revealed an 11% rise in fourth-quarter consolidated operating income to $1.5 billion...
Fiat, which began a remarkable turnaround with the whopping cash payout from GM in 2005, is also struggling again, along with the rest of the auto industry, as car sales plummet amid a deepening economic crisis. Fiat has been itching to get its stylishly economic models on the market in the U.S., and the deal with Chrysler can be seen as part of a series of "strategic partnerships" it has sealed with other automakers in recent years, including one with Tata motors and a deal to build diesel engines with Daimler-Chrysler, before the breakup last year of that German...