Dow Jones dropped by over 400 points at mid-day

XDCX · 08-04-2011, 12:49 PM

It appears concerns about the world economy are shaking nerves in Wall Street - the Dow Jones average was down over 400 points earlier today.

As I type this the slide seems to be continuing - the market is down over 473 points.

rd3311 · 08-04-2011, 12:58 PM

Can you say October 1987?

XDCX · 08-04-2011, 01:30 PM

It looks like the market finished on the lows of the day and closed down 512 points.

There seem to be a lot of news reports predicting a "double-dip" recession. I was never convinced the economy emerged from the first recession.

steve_biegler · 08-04-2011, 01:36 PM

I hope tomorrow isn't a bloodbath!

jayhawk · 08-04-2011, 02:52 PM

ANY MFGR. PUSHING FOR FACILITY REHABS IN THIS BUSINESS CLIMATE IS JUST NUTS !! theyr'e supposed to have economists on board, what do they read?? our PARTNERS should have been preaching facility expense restraint, not demanding upgrades no prudent business person would choose to do at this time. just wish i had more stop losses in place.

Txflyer · 08-04-2011, 04:58 PM

Wish I had gone with my gut and sold off the stocks again about 2 months ago. The only investment that's done worth a crap for me in the past several years is Au.

SHACOS · 08-04-2011, 05:25 PM

In my new work world at CH2M HILL, business is picking up. Problem is, it's internationally, specifically Brazil and Canada. Anyone want to start a dealership in Brazil with me?

The StraightShooter · 08-04-2011, 05:43 PM

I'm moving to Chile.

XDCX · 08-05-2011, 02:45 PM

Quote:

Originally Posted by steve_biegler

I hope tomorrow isn't a bloodbath!

The Dow was down by 240 points at one point in the day but managed to ralley and finished up 60 points.

XDCX · 08-05-2011, 02:50 PM

Quote:

Originally Posted by jayhawk

ANY MFGR. PUSHING FOR FACILITY REHABS IN THIS BUSINESS CLIMATE IS JUST NUTS !! theyr'e supposed to have economists on board, what do they read?? our PARTNERS should have been preaching facility expense restraint, not demanding upgrades no prudent business person would choose to do at this time. just wish i had more stop losses in place.

I totally agree with your point.

Additionally, I get the impression that a lot of the OEMs are putting pressure on their dealers to upgrade facitlities - especially Lincoln/Mercury stores who are getting pressure to upgrade or terminate.

I wonder how many of the Toyota and Lexus Superstores are losing money today because they built $10 - $20 Million facilities during the good times? (The photo of the Lexus dealership that's on the DealershipForum header is of a $20 Million Lexus store in Bellevue, WA owned by a former NFL Football Player.)

XDCX · 08-05-2011, 02:56 PM

Quote:

Originally Posted by Txflyer

The only investment that's done worth a crap for me in the past several years is Au.

It took me awhile before I remembered what Au was - but I managed to figure it out with out looking it up on Google. (It was a flashback to the Periodic Table in High School Physics that solved the mystery....)

Based on what I've read gold will continue to perform well as the U.S. is forced to print money and permit inflation as a means of dealing with our enormous debt problem.

XDCX · 08-05-2011, 02:58 PM

Quote:

Originally Posted by SHACOS

Anyone want to start a dealership in Brazil with me?

That would be awesome. Warm weather, coastal access, beautiful women and a growing economy. Maybe you can open up a BMW store in Brazil?

SHACOS · 08-05-2011, 05:58 PM

Serious question, does BMW make engines that run on ethanol? That's all they have down in Brazil.

Txflyer · 08-05-2011, 08:00 PM

Monday should be fun, with the S&P downgrade of the USA's credit rating.

possum · 08-06-2011, 06:06 AM

I've held on, and now, cannot afford to sell. Just ride it out. Bank of America got so cheap at $9.12 I just got impulsive and bought in....then it fell to $8.77. Friday I went to the Manheim Auction, but before I left I put in another "buy" if it hits $8.01. It hit as low as $8.03, so I missed another "opportunity", and now Monday it will go into the $7 range, I think.

08-04-2011, 12:49 PM	#1
XDCX Administrator Join Date: Nov 2007 Posts: 14,869	Dow Jones dropped by over 400 points at mid-day It appears concerns about the world economy are shaking nerves in Wall Street - the Dow Jones average was down over 400 points earlier today. As I type this the slide seems to be continuing - the market is down over 473 points.

08-04-2011, 01:30 PM	#3
XDCX Administrator Join Date: Nov 2007 Posts: 14,869	Market finished down 512 points It looks like the market finished on the lows of the day and closed down 512 points. There seem to be a lot of news reports predicting a "double-dip" recession. I was never convinced the economy emerged from the first recession.

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08-04-2011, 12:58 PM	#2
rd3311 Senior Member Join Date: Sep 2010 Posts: 171	Can you say October 1987?

08-04-2011, 01:36 PM	#4
steve_biegler Senior Member Join Date: May 2010 Posts: 1,497	I hope tomorrow isn't a bloodbath!

08-04-2011, 02:52 PM	#5
jayhawk Senior Member Join Date: May 2008 Posts: 290	ANY MFGR. PUSHING FOR FACILITY REHABS IN THIS BUSINESS CLIMATE IS JUST NUTS !! theyr'e supposed to have economists on board, what do they read?? our PARTNERS should have been preaching facility expense restraint, not demanding upgrades no prudent business person would choose to do at this time. just wish i had more stop losses in place.

08-04-2011, 04:58 PM	#6
Txflyer Senior Member Join Date: Jan 2009 Posts: 953	Wish I had gone with my gut and sold off the stocks again about 2 months ago. The only investment that's done worth a crap for me in the past several years is Au.

08-04-2011, 05:25 PM	#7
SHACOS Super Moderator Join Date: Jan 2008 Posts: 838	In my new work world at CH2M HILL, business is picking up. Problem is, it's internationally, specifically Brazil and Canada. Anyone want to start a dealership in Brazil with me?

08-04-2011, 05:43 PM	#8
The StraightShooter Senior Member Join Date: Aug 2009 Posts: 518	I'm moving to Chile.

08-05-2011, 05:58 PM	#13
SHACOS Super Moderator Join Date: Jan 2008 Posts: 838	Serious question, does BMW make engines that run on ethanol? That's all they have down in Brazil.

08-05-2011, 08:00 PM	#14
Txflyer Senior Member Join Date: Jan 2009 Posts: 953	Monday should be fun, with the S&P downgrade of the USA's credit rating.

08-06-2011, 06:06 AM	#15
possum Senior Member Join Date: Jan 2009 Posts: 1,122	I've held on, and now, cannot afford to sell. Just ride it out. Bank of America got so cheap at $9.12 I just got impulsive and bought in....then it fell to $8.77. Friday I went to the Manheim Auction, but before I left I put in another "buy" if it hits $8.01. It hit as low as $8.03, so I missed another "opportunity", and now Monday it will go into the $7 range, I think.