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Latest Ellen Simon Stories

2008-09-18 09:00:15

By ELLEN SIMON By Ellen Simon The Associated Press NEW YORK Stocks took another nosedive Wednesday as the American banking system appeared even shakier and investors worried that the financial crisis is spinning so far out of control that even government rescues can't stop it. The Dow Jones industrial average, which only two days earlier had suffered its steepest drop since the days after the Sept. 11 attacks, lost another 449 points . About $700 billion in investments vanished....

2008-09-05 09:00:11

By ELLEN SIMON By Ellen Simon The Associated Press NEW YORK Conventional wisdom had long held that some industries would collapse if oil topped $100 a barrel. As oil neared $150, sending costs higher for everything from jet fuel to plastic jars, the question was how many companies would succumb. The surprising answer: Not many. Some have even thrived. Companies have culled unprofitable products, cut production costs and passed along price increases. Airlines have laid off...


Word of the Day
penuche
  • A fudgelike confection of brown sugar, cream or milk, and chopped nuts.
'Penuche' is a variant of 'panocha,' a coarse grade of sugar made in Mexico. 'Panocha' probably comes from the Spanish 'panoja, panocha,' ear of grain.
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