Archive for June 20th, 2008

Stocks slumped Friday, ending a tough week on a low note as renewed worries about the credit market crisis and inflation sent the Dow to a three-month low.

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Let me tell you about Bill Gates. He is different from you and me. First off, the billionaire co-founder of Microsoft has always been something of a utopian. In his mind, even the world's knottiest problems can be solved if you apply enough IQ. Accordingly, Gates, who has been spotted on Seattle freeways reading a book while driving himself to the office, covets knowledge. It's as if he's still trying to make up for dropping out of Harvard, as he spends just about any spare waking minute reading, studying science texts, or watching university courses on DVD.

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The Treasury Department said Friday that it sent out 9.1 million economic stimulus checks this week, totaling $6.9 billion.

An economic and housing rebound may be a ways off but Wall Street is already in recovery mode. And that should translate into happier times for investors during the second half of the year.

With sales of full-size pickups in a steep decline, Ford Motor Co. said Friday it is delaying the launch of its new, redesigned Ford F-150 pick-up by two months.

Concerns about supply in the Iranian, Nigerian, and Chinese oil markets sent crude through another volatile trading session Friday, with prices rising nearly $5 before settling higher by less than $3.