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Pacific Bell Hires 2,500 Employees
The Pacific Bell will hire more than 2,500 employees in California due to the demand for new phone lines for Internet Surfers and home offices. Since the internet became so accessible more households and businessess found it necessary to get it, resulting in demand for employees to complete the process. -
S&P 500 Reach New Record Points
Standard and Poor's (S&P) 500 is a tracker of the performance od the 500 leaving United States company stocks. On this date the S&P 500 closes the stock echange closely above 1000 points for the first time. -
Tornado Sweeps the South
Tornadoe swept thrpough the South causing death and significant damage, resulting in an increase in demand for rebulding. Constuction comepanies had an increase in value due to the demand for housing. -
Motorola Plans Layoffs
Motorola plans to layoff 10% of its workers or about 15,000 employees resulting in a decrease in employement. Motorlas stocks will decrease since people are being fired and if empoyees are being layed off they will not have enough money to purchase an Motorlola devices. -
Euro is Introduced
The new currency "euro" is introduced creating a single markey in Europe. This changed the way the U.S will trade with European countries. -
Federal Funds Rate Rise
The federal funds rate rise from 4.75 to 5.00 percent, resulting in more money back to federal companies. -
Hurricane Floyd Hits East Coast
Hurrican Floyd hits the east coast resulting in an increase in contruction comopanies and lose of companies in the east coast area. -
Nation's Jobless Rate at an all Time Low
The nation's jobless rate was at 4% which was the lowest in 3 decades resulting in an increase in company activites as well as high stock rates because of consumers activity. -
Oil Price Rises
The world's oil price increase due to shortage of supply. This makes car companoes decrease in sales due to consumers not wanting to buy cars because of the high price. -
OPEC Cutrs Oil Production
OPEC cut oil production by 1.5 million barrels a day resulting in an increase in price and decrease in supply. This brings oil stocks down because consumers are more likely not going to drive becaise of the gas prices. -
Tosco Refinery Explosion
The Tosco Refinery explosion pushed gas prices to increase to a near record high. The explosion caused 4 employees to die as well as a hugh lose in oil and money. -
China Trading Statues with U.S
China was granted permanent normal trade relations staue with the U.S resulting in an increase of stock trade and diversification. -
President Bush Demand Stricter Penalties
President Bush demands stricter penalties to eradicate corporate fraud resulting in less fraud. -
Intel Eliminates 4,000 Jobs
Intel eliminates 4000 jobs lowering unemployemnt and increasing Intel productivity. -
WorldCom Filed for Bankruptcy
WorldCom filed for bankruptcy protection to eliminate possible dept. -
Major Snowstorm Hits Eastern States
Major snowstorm hits eastern states resulting in delay of stocks trade. -
WIldfire Breakout in Southern California
Wildfore breakout in Southern California resulting in burning of 743,000 acres and destroying over 3,500 homes. This made an increase in contruction companies since so many houses were lost. -
President Bush Ends Steel Tariffs
President Bush ends steel tariffs which increase the production and sales of steel. -
Cold Weather and OPEC Quota Contribute to High Oil Prices
Unexpected cuts in OPEC quota and cold weather contribe to higher oil prices which results to less demand for gas. -
Fitch Removes California from Rating Watch Negative
California was placed into negative watch but fitch removed them from it because their credit rating exceeded 50%. -
3 Hurricans hit Florida
3 hurricans hit Florida and neighboring states resulting in an increase in demand for housing and delay/decrease in Florida's company stock that were involved in the natural disaster. -
Blizzards blanketed large parts of Northeast
Lasted January 22-24,2005, thee day storm that affected large areas of the northeast part of the United Sates. Massachusetts was one of the hardest hit with 40 inches of snow. -
Iraq held its first free election in half a century
Iraq called a boycott to cast ballots for Iraq citizens to vote. They wanted America to promise them equality to secure their country. -
CPI posts biggest drop since 1949
The consumer price dropped 0.6% in November. This has lead by the plunge in gasoline prices. -
Hezbollah attacks Israel
Lebanese militant group struck an usual armored patrol with a roadside bomb. -
BP Announces plan to shutdown Prudhoe Boy oil Field.
BP shut down oil operations due to corrosion in the pipeline. During the 5 day leave 267,000 gallons of oil spilled over 1.9 acres. -
Dow Jones Industrials close above 12,000 for the first time.
The Dow Jones Industrial average first close above 12,000. The finish above 12,000 was the latestsign that the tock market continues a recovery from the losses and despair investors suffered in the early part of this decade. -
Bank of America invests $2 billion in Countrywide Financial Corporation
Countrywide Financial Corporation is in a liquidity crunch and Bank of America injected $2 billion to help the corporation from struggling. -
Blats rip Mexico Gas and Oil pipelines
There were six places that caused fires, abd gas leaks that attacked the lines. It caused immediate evalcuation for many citizens. The governemnt had to get involved to verify information. -
Citigroup, Bank of America, and JPMorganChase agree to a $75 billion superfund to restore confidence to credit markets.
All banks were in negations and decided on an agrrement of $75 billion to ease pressure within the credit market. they want to stop SIV's from ruining their assets. -
California minimum wage increased to $8.00 per hour from $7.50
Every employer has to pay their employee nothing ess tham $8.00 an hour. -
Bank of America agrees to purchase Countrywide Financial
Bank of America will focus on home lending, and they will serve as a reliable source for mortgages. -
The Federal Reserve Loans $85 billion to American International Group (AIG)
The U.S. governemnt seized control of AIG in an $85 billion deal. This was because of the concern of the danger of a collapse psing the financial system. -
U.S. Treasury Secretary unveils the Public-Private Investment Program
Treasure secreatary unveiled details of the PIPP (Public Private Investement Program). The plan was to revise the U.S. financial system from the nations banks. -
General Motors files for Bankruptcy
General Motors filed for bankruptcy. The bankruptcy is likely to lead to major changes and cuts at the battered automaker. -
Home buyer Tax Credit extended & expanded
The original tax break for first time buyers wasn't a credit. It was an interest free loan of $7,500 that buyers claimed on their returns and then paid back over 15 years when they filed their taxes. -
The Wall Street Reform and Consumer Protection Act was signed into law by President Obama
This act promotes financial stability of the United States by improving the accountability and transperency in the finanacial system. -
President Obama signed a6 moth extension of emergency jobless benefits for the long- term unemployed
President Obama signed the 6 moth extension to help 3 million people who's checks has been cut in June to find jobs. The bill revises a program that gives up to 99 weeks of income to those who need it. -
The Federal Reserve announced a second round of quantitative easing through the purchase of $600 billion in long term Treasury Bonds
The Federal Reserve in a dramatic effort to stir up a economic recovery says they will buy $600 billion of United States government bonds for 8 months.
