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Delta Air Lines Inc. emerged from bankruptcy protection Monday as an independent carrier after surviving a hostile takeover bid during a 19?-month reorganization that first viewed it eliminate jobs, reduce costs, restructure its fleet and concentrate more on international flying.Delta’s chief bankruptcy lawyer, Marshall Huebner, said in a 10:21 a.m. e-mail for the Associated Press the wire transfers for the $2.5 billion loan — letting it to pay back lenders who gave Delta money to help it operate whilst in bankruptcy — were completed.”This is surely an amazing day on an extraordinary company, which includes reclaimed its heritage and possesses emerged from Chapter 11 as being a fierce, determined and well-capitalized competitor,” Huebner said.Delta has undergone a major facelift during its bankruptcy, as well as other changes are on just how as the nation’s No. 3 carrier exits Chapter 11. Among other things, it has set aside $10 million for a rebranding effort, , Huebner said in the court recently. Executives at Delta also have said that once the company exits bankruptcy, it’ll consider shedding Comair, a Delta subsidiary that delivers regional service to the airline. Delta’s outgoing chief executive, Gerald Grinstein, said last week he didn’t expect any “immediate action” on Erlanger, Ky.-based Comair since Delta carries a new board of directors. Doug Abbey, a person in the aviation consulting firm The speed Group, said he expects Delta to make a decision on Comair fairly quickly. “I suspect that’s among the first orders of business appearing out of bankruptcy,” Abbey said. “I can’t even predict how that will go.” Delta’s board can also be looking for a new CEO to replace Grinstein, 74, who has said he plans to step down once his successor is appointed. Meanwhile, a Delta spokeswoman, Betsy Talton, said “additional investments in Delta’s image will be unveiled” at a news conference with the company’s Atlanta headquarters a couple of hours after the airline exits bankruptcy protection. Talton declined to present details ahead of the announcement. Repainting its planes is one thing that could help Delta featuring its brand image, but would take time to complete for a fleet consisting of several hundred aircraft, Abbey said. “I think it’s appropriate since this is clearly a new Delta, but also in and of themselves, these products tend to be a very long-term project,” Abbey said.A fresh advertising campaign also could possibly be in Delta’s future, Abbey said.The initiatives could be on top of major changes that Delta put in place after entering Chapter 11 on September 14th, 2005. During bankruptcy, the airline restructured its fleet, expanded international service and improved aircraft cabins, while cutting about $3 billion in annual costs and eliminating 6,000 jobs.About the financial side, existing shares of Delta’s stock will likely be canceled at the time the airline exits bankruptcy. Shares of latest stock will be issued and begin trading publicly on the New York Stock Exchange on Thursday. That day, Delta executives will ring the closing bell in the floor of the NYSE.Delta passengers are unlikely to notice any tangible differences. But MyVacationPassport.com President Terry Trippler says you could see “a bounce within the step” and “a smile on the face” of Delta employees this morning. To call up a firm snapshot: Delta Air Lines (DALRQ) cheap mulberry bags
To view videos for that week of Oct. 21 – 27, 2001, Click this link.CBS News’ Tom Fenton reports on the new video of Bin Laden calling Bush a ‘Crusader.’CBS News Correspondent Lee Cowan reports the most recent emerging details through the anthrax investigation.Defense Secretary Rumsfeld won renewed Russian support today in Uzbekistan, CBS News’ Wyatt Andrews is with him on his visit.David Martin reports rainwater forced a special operations crew to land in Afghanistan.Many of the recent layoffs were fallout from Sept. 11, Anthony Mason reports.The Western states alert scaled like information from the Customs Service, Jim Stewart reports.Lee Cowan’s Eye On America directory the scuffle between NYC police and firefighters.Anti -Taliban forces acquire wish: heavier bombardment. CBS News’ Maureen Maher Reports.Clearing the way in which for action by ground forces is no easy task, David Martin reports.Maureen Maher influences field with the Afghan opposition.Tom Fenton reports on worry about some Pakistani nuclear scientists sharing secrets with al-Qaida.The governor of California’s stunning announcement took federal officials by surprise.Elizabeth Kaledin reports on what’s been aware of the NYC anthrax death.CBS News’ Maureen Maher reports on increased bombing inside Afghanistan.CBS News’ Jon Frankel reports on investigators attempting to track down the source of Anthrax that killed a New York City hospital worker.Your head of the International Atomic Energy Agency comments on terrorists possibly targeting nuclear facilities.CBS News’ Hattie Kauffman sat down using the 16-year-old son of murdered Afghan guerrilla commander, Abdul Haq.CBS Early Show Anchor Bryant Gumbel speaks with United Front Envoy Haron Amin about U.S. ground troops in Afghanistan.CBS News Medical Correspondent Elizabeth Kaledin reports about the mysterious NYC death.CBS News National Security Correspondent David Martin reports for the campaign against Afghanistan.CBS News Chief White House Correspondent John Roberts reports on Ashcroft’s new immigration crackdown.CBS News Correspondent Richard Schlesinger reports on the detainees held in the U.S. considering that the attacks.CBS News Correspondent Jim Axelrod reports around the bombinof Taliban front lines.CBS News’ Correspondent Tom Fenton reports around the heaviest bombings launched on the Taliban front lines by U.S. jets in Afghanistan.CBS News’ Anchor Dan Rather has a tour beneath “Ground Zero” in Ny.CBS Early Show Co-Anchor Jane Clayson speaks with Surgeon General Dr. David Satcher in regards to the investigation into how recent Anthrax victims contracted the condition.A woman with no apparent ties to mail or the media has inhalation anthrax, Elizabeth Kaledin reports.Investigators are experiencing trouble finding out who’s behind the anthrax assault, Jim Stewart reports.Government entities said a threat from Osama bin Laden ‘s for the latest terror alert.Sandra Hughes’ Eye On America report on the airport security regimen.David Martin reports the air bombardment in Afghanistan is relentless.CBS News Correspondent Diana Olick reports about the FBI’s second warning in recent weeks there could be new terrorist attacks in America.CBS News Correspondent Bill Plante reports on a survey suggesting America has become uneasy about U.S. war efforts in Afghanistan.Tom Ridge,director of Homeland Security, offers tips on how to deal with a “high alert” to the second time in less that 21 days.CBS News Correspondent Maureen Maer reports from Northern Afghanistan about the latest allied attacks up against the Taliban.Opposition leaders have praised the the bombing of the Taliban, but are calling for more air strikes.Government entities says there is evidence the U.S. would be the target of another attack within the next week.A N.J. woman who is now recovering from skin anthrax could be the latest case, John Roberts reports.CBS’ Byron Pitts reports on mail, fear, what is and isn’t being done about it.The U.S. is now more actively supporting anti-Taliban forces on the ground, CBS’ David Martin reports.Anthrax or even the flu? Correspondent Elizabeth Kaledin has the facts.Lee Cowan reports for the solace sought by victims’ families at ground zero.Maureen Maher reports for the struggles of the Northern Alliance.CBS News’ Tom Fenton reports for the latest casualties of war.Diana Olick reports around the possibility of U.S. ground troops.CBS News Correspondent Randall Pinkston reports on Pakistan’s Christian casualties. To watch videos for the week of Nov. 4 – 10, 2001, Click this link.(C)MMI, Viacom Internet Services Inc. All Rights Reserved. These toppers may not be published, broadcast, rewritten, or redistributed. The Associated Press led to this report mulberry messenger bag
I’m very happy that I don’t are already pregnant right now. I am not just talking about my avoiding the weird thing together with the belly button or ankles that swell up to be the size of grapefruits – or all the stares I’d receive from people who aren’t accustomed to seeing a pregnant man. I just feel it’s a very puzzling time to be pregnant: Don’t eat this, eat that. Don’t drink that, drink this. Don’t take a breath this stuff, don’t live near that stuff. It’s actually a puzzling time to have a baby inside of you, and I wonder if all the knowledge we have today just makes people more nervous. And, naturally, stress is one of the things expectant women are supposed to avoid.The most recent research indicates that what parents eat and breathe is usually more of a determining element in how the child seems than their parents’ genes. Obviously, should you be pregnant and happen to work in a nuclear waste plant, you might want to look for other employment. But seemingly innocent things may affect that baby, too. For example, a study in “Human Reproduction” reported when a pregnant woman eats a lot more than seven servings weekly of beef, the son which will be born is more planning to have “poor sperm quality” as he grows up. The baby’s not really out yet, along with to worry about his ability to have babies?Needless to say, pesticides, pollution, and poisons are typical bad for the baby. And of course, if you eat a lot of high-fat, high-sugar foods during your pregnancy, baby may be predisposed to becoming obese later.However it is not all bad news. You can do some things to help that unborn baby. All those obnoxious fathers who brag that the reason their kid is so good at playing shortstop happens because he has “Dad’s genes” are in for the rude awakening. Women that are pregnant who take supplements of omega-3 fatty acids are more likely to have children with good hand-eye coordination. So, cool off, Dad. It could be the pills that Mom took that will make Junior an All-Star.Needless to say, you can get omega-3 fatty acids from some fish, but doctors warn pregnant women not to eat a lot of fish because they could possibly be tainted with mercury as well as other toxins. But nobody knows exactly how much is too much fish. Confusing? It’s maddening. Somehow, most mothers and babies become just fine. But that does not mean you’re home free. After the baby is born, there is a confusion over what toys are Alright to buy. Lately, good news has reported more toy recalls than slips made by presidential candidates. Toy after toy has been found to be decorated with lead paint. Other toys were found to explode or possibly burn the kids playing with them. Primary recalls involves something called “Aqua Dots.” If swallowed, these products turn into a powerful “date rape drug.” Now that’s something my parents did not have to worry about when I was in that playpen with the little girl from down the block.And when you think you’ll get some slack by putting the baby in front of the television set, forget it. The actual writers’ strike effects children’s programs along with adults’. And who among you doesn’t think your kids is smart enough to share with a rerun from a new show?Just as in previous generations, the joy one gets coming from a child should replace all the confusion and difficulties. Obviously, there has been much progress that has made prospective parents more informed and babies healthier in recent times. But sometimes it seems that many of the scientific advances make pregnancy more stressful. So eventhough it would be nice for strangers to make available to carry things personally and for my friends to see me that I’m “glowing,” I’m still happy that men can’t become pregnant. But I guarantee you that scientists somewhere work on making that possible right now. And I’ll bet nearly all of those scientists are women. Lloyd Garver has written for several television shows, ranging from “Sesame Street” to “Family Ties” to “Frasier.” He has also read many books, many of them with pregnant pauses within them. By Lloyd Garver mulberry laptop case
Vials found in the motel room assertive hospitalized in critical condition tested positive for your deadly toxin ricin, authorities said Friday.There was no indication of any link to terrorist activity, Vegas police Deputy Chief Kathy Suey said at the press conference.Recently, terrorists have used ricin, reports CBS News correspondent Drew Levinson. In 2003, the Secret Service intercepted an envelope filled up with the substance which was addressed to the White House. It absolutely was also found in the Senate mailroom plus a postal facility in Structured.The man was admitted to Spring Valley Hospital in Vegas in critical condition on Feb. 14, hospital spokeswoman Naomi Jones said. Suey said he had made an emergency necessitate help because of breathing problems. His name was not made public.The investigation with the apparent ricin didn’t begin until Thursday, police said, after someone Suey recognized as “a friend or relative” went to the sick man’s college accommodation to retrieve his belongings and located “several” vials of a powder and brought it towards the motel manager. Police were ultimately called on the Extended Stay America Motel several blocks west with the Las Vegas Strip.Seven people, like the man who found the ricin, the manager, two other motel employees and three police were decontaminated at the scene and brought to hospitals for examination but none have shown any signs of being affected by ricin, Suey said. All were released overnight.Ricin is constructed from processing castor beans and is extremely lethal. As little as 500 micrograms, or in regards to the size of the head of a pin, can kill a person, according to the Centers for Disease Control and Prevention in Atlanta.”During our investigation we did realize that there was a subject who had been a previous occupant of the hotel room who is currently hospitalized in critical condition here locally for result of exposure to ricin,” Suey said.Two preliminary tests, one by police then one by the Nevada National Guard, figured that the substance was ricin. A third test from a local lab confirmed the outcome, Suey said.”There is no information to steer us to believe that is the result of any terrorist activity or in connection with any possible terrorist activity,” she said. “We don’t even know that it was him that’s in possession of the ricin.”Police said the sick man, considered to be in his 40s or 50s, isn’t considered to be a criminal suspect. Suey said he was unconscious, and police was not able to interview him.Suey may not say how many vials put together or how much ricin they contained. Officials said the vials were inside a plastic bag, and castor beans also were found in the room.Police said they spent 12 hours containing and cleaning the site.”My understanding is cleanup may be done. There should not be a threat to anybody at the moment,” said Dr. Lawrence Sands, chief health officer with the Southern Nevada Health District.Jones, a medical facility spokeswoman, said nobody at the hospital is at risk of exposure.”The patient who may have been exposed just isn’t contagious to anyone else, as ricin has to be injected, ingested or inhaled. Were following the universal blood-borne pathogen protocols and cooperating with investigators currently,” Jones said.The motel manager had begun an eviction since the sick man hadn’t paid his bill, in which he who found the vial went to the room to retrieve his belongings. Suey said he claimed to become a relative of the sick man.Suey said there are several pets in the room when officers arrived. Your pet dog was found dead nevertheless the animal had gone at least a week without food or water, Suey said, and she did not attribute the death to ricin. sundance ugg boots
Russia on Tuesday launched a satellite for Israel the Israelis say will be employed to spy on Iran’s nuclear program.The Eros B satellite was released from a mobile pad in the Svobodny cosmodrome in the Far East, said Alexei Kuznetsov, a spokesman for that Russian military space forces.About 20 minutes later, the satellite successfully reached orbit, Russian news agencies reported, citing the room forces’ press service.”The Israeli satellite reached its target orbit and has been transferred to the client’s control,” Kuznetsov was quoted as saying by the ITAR-Tass news agency.Israel’s Channel 10 TV reported that the launch was successful, nevertheless the satellite would not deploy its power panels for another day and a half.The satellite is made to spot images on the floor as small as 27? inches, an Israeli defense official said. That level of cla of resolution would allow Israel to gather information on Iran’s nuclear program and it is long-range missiles, which are capable of striking Israel, he explained.The satellite, that may remain in orbit for six years, can photograph the identical spot on the Earth once every four days, according to ITAR-Tass.”The most important thing in a satellite is its ability to photograph and its resolution,” the state said, speaking on condition of anonymity as a result of sensitive subject matter. “This satellite has very high resolution, and (state-run) Israel Aircraft Industries carries a great ability to process information that is certainly relayed.”It could take as much as 10 days to see perhaps the images that are transmitted are sharp and clear, he explained.Russia, which has developed ties with Israel since collapse of the Soviet Union, is also a major commercial partner of Tehran and is building an $800 million nuclear power station in Bushehr, southern Iran.Nonetheless it insists that the transfer of nuclear technology to Iran will not endanger the non-proliferation regime and has rejected U.S calls to abandon the project as well as halt military sales to Tehran. The Russian defense minister confirmed Monday that Moscow goes ahead and supply Iran with sophisticated anti-aircraft missiles.Israel has for many years regarded Iran as the primary threat towards the survival, disputing Tehran’s claims what has nuclear program is peaceful. Iranian President Mahmoud Ahmadinejad has made this threat more tangible by repeatedly questioning Israel’s directly to exist, most recently on Monday, while he said Israel was a “fake regime” that “cannot logically carry on living.”Interim Israeli Prime Minister Ehud Olmert said Tuesday that they takes threats by Ahmadinejad to wipe Israel over map “very seriously.””We do not take on it lightly,” Olmert said, speaking from Jerusalem by satellite relay to an Anti-Defamation League meeting in Washington. “We are powerful and capable to defend ourselves.”An attempt to launch a military spy satellite, Amos 6, failed this past year. Amos 5 is still in orbit, and Channel 10 reported Israel offers to launch another spy satellite the coming year.Iran’s threatening comments about Israel had special resonance , which Israel marked as Holocaust remembrance day. Israeli Nobel peace laureate Shimon Peres, in Poland for observances, drew a parallel between Ahmadinejad and Adolf Hitler.”We will haven’t recovered using this (the Holocaust) and I still hear these calls from Iran to eliminate Israel,” Peres said.Ahmadinejad’s words, he added, “are enough to put us all on alert.”By HENRY MEYER and AMY TEIBEL ugg tall boots pink
It seems inconceivable: Just how can Somali pirates in speedboats foil warships from your world’s most powerful navies to be able to prey on shipping lanes imperative to the oil supply? The short answer – it’s actually a big ocean no one wants to be top cop.NATO and the U.S. Navy say they are unable to cover everywhere, and American officials are urging ships to buy private security. Warships patrolling off Somalia have succeeded in stopping some pirate attacks as they happen. But outright military assaults to wrest free a speed boat are highly risky.Yet when pirates took their biggest prize yet over the weekend – a Saudi supertanker carrying $100 million importance of crude oil – it raised the stakes dramatically. The pirates struck numerous miles off the coast of East Africa, far out to sea where ships had presumed these folks were safe.Governments, navies, oil companies and ship owners are scrambling for solutions, and finding few options are ideal. At least one private security company said it has been flooded with requests from shipping companies for defense, including from Saudis.A serious Norwegian shipping group ordered its greater than 90 tankers to sail around Africa instead of use the Suez Canal after Somali pirates seized the Saudi supertanker.The U.S. and also other naval forces decided against intervening within the seizure of the supertanker. The pirates captured an Iranian cargo ship Tuesday, the seventh vessel seized in 12 days.The capture of the Saudi Sirius Star opened up a totally new front further outside the Indian Ocean – as far from the Gulf of Aden as Paris is from Moscow. It signalled a threat to another key route, the one which rounds Africa’s southern tip which is used by vessels too big to traverse the Suez Canal with full cargos.”Shipping companies need to understand that naval forces can not be everywhere. Self-protection measures are the most useful way to protect their vessels,” U.S. Vice Adm. Bill Gortney, commander with the Combined Maritime Forces under the 5th Fleet said as soon as the Sirius Star’s capture.In Dubai you will find there’s specialist team on alert, looking forward to the pirates to produce contact again. These negotiations can be long and drawn out, reports CBS News correspondent Shelia MacVicar. A Ukrainian ship, carrying Russian tanks and weapons, which was seized in September, is still being held by Somali pirates. For the modern-day swashbucklers, it’s all about the money. And a growth industry. In three years, the pirates have netted an estimated $30 million. For the pirates, you will find three sources of revenue out of ship seized; ransom to the crew, the cargo, as well as the ship itself which can be repainted, reflagged and resold.They’ve invested the profits and upgraded their gear, MacVicar reports, now furnished with GPS, sophisticated communications and rocket launchers. And after this they’re going after bigger prizes.”They climb the ship we’re referring to an operation that would take only a few minutes,” says Mustapha Al Ani, using the Gulf Research Council.Pirates usually attack in small speedboats, using ropes and ladders to climb a ship’s hull and seize the crew. When they have a ship, military action to free it holds dangers. The pirates are trained fighters, heavily with automatic weapons and rocket-propelled grenades, and they’ve the crews as hostages.Odfjell SE, the Norwegian shipping group, claimed it made the decision to divert its ships after pirates seized the Saudi Arabian supertanker a huge selection of miles off the coast of Kenya, one of the most brazen attack yet by Somalian pirates.”We don’t expose our crew to the risk of being hijacked and held for ransom by pirates from the Gulf of Aden,” said Terje Storeng, Odfjell’s president and us president. “Unless we are explicitly committed by existing contracts to sail through the bradenton area, as from today we will reroute our ships around Cape of proper Hope.”The Gulf of Aden, off Somalia, connects on the Red Sea, which in turn is linked to the Mediterranean by the Suez Canal. The route is thousands of miles and a lot of days shorter than open the Cape of fine Hope off the southern tip of Africa.”This will incur significant extra expense, but we expect our customers’ support and contribution,” said Storeng.”Odfjell is frustrated by the fact governments and authorities generally seem to take a limited fascination with this very serious problem,” he added, describing the seizures as “ruthless, high-level organized crime.” no previous page next 1/2 ugg and jimmy choo
This story was written by Tameka Kee. SNL’s Samberg chooses YouTube: With nearly 9 million views since being posted December 6, Andy Samberg’s “Jizz inside my Pants” is the most watched clip on YouTube this month. More noteworthy is viewers have been capable to access the music video-style Saturday Night Live skit on the internet at all. NBC is meticulous about keeping unauthorized clips off of the site in favor of its video properties, but since Samberg and his production company The Lonely Island own the rights on the clip, they chose to serve it to YouTube’s larger audience. CNET says Samberg’s decision “raised some eyebrows,” but that it makes sense because he’s attempting to expose the skit for the widest possible audience. While NBC.com and Hulu have reach, neither site can top YouTube in terms of mass appeal. Samberg also offers a record deal with Universal Wedding ring in the works, and given YouTube’s success regarding music promotion, developing a loyal fan base on the webpage is a no-brainer. People like streaming video in the office: Now there’s a shock … Nielsen Online’s latest VideoCensus report discovered that, in October, 65 % of online video viewers watched one or more clip from 9 a.m. to p.m. on a weekday, the most popular daypart for streaming. A lot of those work-week streamers had broadband access, a possible factor contributing to their consumption. The other most popular daypart was weekends 6 a.m. – 8 p.m., with 51 percent of viewers watching a minumum of one clip. 49 percent of folks streamed video on weeknights from 5 p.m. – 8 p.m.; while just 43 percent of viewers watched Web clips during TV’s traditional primetime: 8 p.m. – 11 p.m. Release. Machinimia.com hooks writers looking for 15 new shows: On the web site Machinimia.com got $3.85 million in funding in November, and will also be using some of that cash to develop 15 new shows. Kotaku says writers from TV shows like The Simpsons, Family Guy, King of Queens as well as the Fresh Prince of Bel Air have signed to craft scripts to the shorts, which will be a part of “The Machinimia Comedy Lab.” No date may be set for the first pilot. More following your jump. Current and Rotten partner in series: And yet another original series play … Al Gore-backed media company Current will partner with IGN’s Rotten Tomatoes to submit a weekly show that digs into the latest movie news. NewTeeVee says the show will incorporate the crowd-sourced reviews and commentary that Rotten Tomatoes is known for, though not sure yet on if this will launch.NBC, *CBS* attract ad dollars with original Web series: Develop original online series or push existingshows to the Web? That’s just one of the questions the tanking economy is forcing broadcast networks to inquire about themselves, according to TV Week. But a steady flow of ad dollars makes the original content route a lucrative one for NBC and CBS (NYSE: CBS) particularly. NBC already has nine original Web series planned for 2009, four ones have brand sponsors aboard. It will pitch the rest of the five to advertisers beginning in January. CBS has two, together with a companion show for its “Harper’s Island” horror series. On the other hand, ABC and the CW have scaled back on developing new online shows for creating short clips which can be tied to their TV existing series, or simply porting said series online. By Tameka Kee tall chestnut uggs
NEW YORK (MarketWatch) — With even Microsoft Corp. struggling to predict the future, the market industry is likely facing for weeks ahead a steady stream of companies offering equally murky views of year, in what analysts think of as part of the bottoming process for stocks.”You’ve had positive news — Apple — and negative news — Microsoft and EBay — and, while bad and the good, mostly bad, the stock market has just traded sideways for around three months now,” said Dan Greenhaus, equity strategy group, Miller Tabak & Co.This, he added, “is the product in question as markets enter a bottoming process.” Others start to see the same process in the economy.”The difficulty for the information mill on the one hand, the economic data is dismal, and we get reminded of these on an almost daily basis. However, there are a few early indicators we might be in a bottoming process for economy,” said Michael Sheldon, chief market strategist at RDM Financial Group Inc.Those early indicators include rates on mortgages rising falling back below 5%, and improvement in the TED spread, which measures emotional stress, from 4.6% after Lehman Brothers went bust close to 1%, said Sheldon.Thursday afternoon, the market staged a sizeable comeback from losses that followed a pre-opening jolt when software titan Microsoft reported an earnings drop and said hello plans to shed as many as 5,000 workers. It declared itself unable to offer a forecast through out 2009, citing economic uncertainty. “We’ve been rallying since noon and rallying quite hard since 1:40 m. Eastern] on the backs of financial and tech names which have come off their lows considerably,” said Greenhaus, who gave Microsoft, IBM and Ebay Inc. as examples.Meantime, Apple Inc. pulled all-around its high of the afternoon, And in the financial space, Morgan Stanley and Goldman Sachs Group Inc. became popular, “and the market followed suit,” said Greenhaus.EBay Inc. reported its first-ever earnings decline after Wednesday’s market close. .Bucking the negative trend, Apple Inc. reported quarterly profit that topped expectations, featuring its shares rising 7.2%.The patchy results overall — combined with bleak economic data on jobs and housing — had the Dow Jones Industrial Average falling roughly 250 points, plus more recently off 152.29 points, or 2%, at 8,075.81, with 28 of its 30 component stocks exchanging the red.The S&P 500 declined 17.21 points, or 2.1%, to 823.03, with financials once again pacing the losses that stretched to feature eight of the index’s 10 industry groups.The Nasdaq Composite declined 45.95 points, or 3.1%, to be at 1,461.12.Bear bottomsLooking back at previous bear markets, the so-called ‘V-shaped bottom’ doesn’t generally look like in evidence. Instead, equities fall to “whatever level becomes the underside, then in] horizontal trading” for a period of time, said Greenhaus.When the stock market found its bottom in 2000, it moved sideways for about 11 months, as the 1990 bear market involved six months of lateral trade, the analyst said.With respect to the length and depth of the recession, “we could exchange this channel for two main years. We have to take into account the possibility that we could trade laterally for longer than most people think,” said Greenhaus.For your S&P, Greenhaus expects the trading range to be from about 800 to at least one,000.”At 740 (for the S&P), the marketplace started to get a handle on valuations going forward, if you assume earnings going forward are $60.00, along with the market tends to look for a bottom at 12 or 13 times forward earnings, saying 60 times 13 is 720 – 12 or 13 times 60 bucks is around where the market found a bottom,” he was quoted saying.”If you assume marketplace is going to earn 60, 65 bucks going forward, then fair value is reached in upwards 700s. In spite of this, if this current recession proves deeper and longer, so we have continued earnings revisions o the side effects, that would further depress stock prices. That is the issue moving forward, to what positive effect do these government moves have?”To that end, Thursday’s session included a Senate panel’s approving Timothy Geithner to be the next Treasury secretary, with the nomination now moving to the full U.S. Senate.”As we closer to the confirmation of Geithner as the new Treasury secretary, that could help lift market spirits as desires for the second part of TARP (Troubled Asset Relief Program] enters focus along with the quick passage in the Obama stimulus package,” said Cardillo.By Kate Gibson mulberry tillie tote

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