Dog Training Can Be Fun If Done Correctly

Submitted by: Brad Abbott

Dog training is essential for a healthy relationship between humans and their dogs. Neither humans nor dogs are perfect and it is necessary to train your pet to refrain from doing things which are socially unacceptable. A training procedure will help you to guide your dog to behave in a way that is to your liking.

The training of dogs proved to be beneficial during war time. Techniques were introduced and developed during the First World War. After World War II civilians adopted these ideas to keep their own dogs under control. These methods were quite harsh and the pets were often punished to get them to comply. This approach is what we call negative reinforcement.

Positive reinforcement techniques were later introduced and soon became more popular. This method creates a happy learning environment where the animal is rewarded for good behaviour. For example, the dog being trained to lie down on command will be rewarded with a tasty treat. This means he will soon lie down more readily knowing the reward will be a delicious snack. He learns to obey a new command through positive reinforcement.

[youtube]http://www.youtube.com/watch?v=mHeVrl-XPZQ[/youtube]

There is the school of thought that positive trainers never get to teach their animals what is unacceptable behaviour and what not. This is incorrect. Positive reinforcement methods do teach dogs what is unacceptable, but any form of punishment or negative reinforcement is not employed at all.

The main advantage of teaching dogs with positive reinforcement is that the lessons are always fun and enjoyable for both the owners and their pets. Understanding is easy and the atmosphere is always friendly. The lessons include obedience techniques as well as methods which help to solve antisocial problems like excessive barking and jumping on visitors.

Choke chains and shock sticks are negative training aids. They are not used in positive reinforcement lessons. A clicker is used sometimes. This is a small device that makes a click-click sound when squeezed. This sound marks the exact moment that the dog performs correctly according to your instructions.

New methods and developments have emerged in the canine classroom. The techniques used are based on the natural behavior of the animal. The trainer strives to meet his pet on a level familiar to dogs. He focuses his attention on behaviour which is instinctive and natural to the species.

These trainers vouch for the pack mentality of dogs. There is always a dominance hierarchy within a pack. The owner needs to establish himself as the leader of the pack. This is how his animals must see him. These people prefer to describe themselves as folk who are able to communicate at a deeper level with dogs. They have a better understanding of the animal and are able to communicate using body language. They often call themselves dog whisperers.

The opponents to this dog training technique claim that it is a popular theory that does not always work. Two renowned biologists showed in their extensive research that the idea of an alpha dog can be rejected. However there are many trainers having tremendous success with this dog training philosophy.

About the Author:

dog training Calgary

can be challenging, but the rewards are priceless.

puppy training

requires discipline and consistancy. When experiencing problems, consult a professional.Bark Busters In Home Dog and Puppy Training 256 East 2nd Avenue, Vancouver, BC V5T 0A7 (604) 812-8214 +1 866-418-4584

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Wikinews Shorts: May 7, 2007

A compilation of brief news reports for Monday, May 7, 2007.

A 30 meter section of a gas pipeline in Luka (near Kiev) in Ukraine has been destroyed by an explosion. Although supplies to Europe via this pipeline have stopped, Ukrainian Energy Minister Georgi E. Boyko said that supplies to Europe would not be affected.

“There are no changes in volumes of gas being transported,” Yuri Korolchuk said. “Volumes due to pass through the damaged section are being redirected through the Soyuz pipeline.”

Normal flows are reported in the Czech Republic, Hungary, Poland and Romania.

Sources

  • “Blast damages pipeline in Ukraine” — Russia Today, May 8, 2007
  • Natalya Zinets, Reuters. “Blast hits Ukraine gas pipeline” — The Scotsman, May 7, 2007

Copper prices are rising. Between record copper imports from China, and a mining strike in Peru, the prices have climbed to over $8100 (United States dollars) a tonne, for a gain of $575 dollars over the last week. However the upward trend is not new, it has been climbing for quite some time. In April 2003, the price of copper was under $2000 a tonne.

The metal market has been tending up due to growth in the Chinese industrial production. This trickles down to the local level, where the buying price at scrap yards is ever climbing, making scrap metal collection a more profitable endeavour for individual people using pick up trucks or other such vehicles to collect and cash in the scrap metal at metal buying yards. It can be collected via agreements with businesses, from the garbage, or, sometimes, by theft.

Copper prices fell today on the NYMEX commodity exchange from US$3.7545 per pound to US$3.7125 based on the July futures contract.

Sources

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
  • “Copper up but crude oil down” — Financial Express, May 6, 2007
  • Millie Munshi. “Metals Bubble Poised to Burst on Increasing Supplies” — Bloomberg L.P., May 7, 2007
  • “Commodity Futures” — Bloomberg L.P., accessed May 7, 2007

One man was killed and another injured by an exploding backpack in the parking lot of the Luxor Hotel in Las Vegas, Nevada. The explosion happened at 4 a.m. PDT when the victim tried to remove a the object left on top of his car.

Agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) are on the scene. Aerial images did not show any apparent damage.

“We believe the victim was the intended target of this,” Bill Cassell said, spokesperson for the Las Vegas Metropolitan Police Department. “This is being treated as a homicide in which the weapon used to cause death is a non-traditional weapon.”

Both of the victims worked at the Luxor.

Sources

  • Associated Press. “1 dead, 1 hurt in Las Vegas parking lot blast” — MSNBC, May 7, 2007
  • “Explosion kills man in Vegas outside Luxor hotel” — Reuters, May 7, 2007

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Microsoft to licence Windows source code

Thursday, January 26, 2006

In a move aimed to prevent fines stemming from its antitrust lawsuit filed by the European Commission (EC), Microsoft announced that it will be releasing portions of the source code to its Windows operating system.

The EC ruled in March 2004 that Microsoft had abused its position in the low-end server and media player market, and required that Microsoft “disclose complete and accurate interface documentation which would allow non-Microsoft work group servers to achieve full interoperability with Windows PCs and servers”. Microsoft reacted by making available 12,000 pages of technical documentation and up to 500 hours of technical support, but the EC came to the conclusion that it was not enough.

Announcing that “we are putting our most valuable intellectual property on the table so we can put technical compliance issues to rest”, Microsoft General Counsel Brad Smith asserted that Microsoft would be superseding the EC’s requirements as a sign of good faith. “While we are confident that we are presently in full compliance with the Decision, we wish to dispel any notion that Microsoft’s technical documents are insufficient”, said Smith.

The EC responded in a memo that it will study Microsoft’s reply to the Statement of Objections once it receives the full details. However, EC Competition Commissioner spokesman Jonathan Todd commented that “it would be premature to conclude access to the source code would resolve the problem of the lack of compliance with our decision.”

A similar offer was made by Microsoft in August 2002 during its antitrust lawsuit filed by the United States Department of Justice and several states’ Attorneys General. The resulting “Microsoft Communications Protocols Program” had suffered continuous criticism regarding excessive cost, paperwork, and non-disclosure agreements. It is unclear at this time if Microsoft’s planned “Work Group Server Protocol Program” will suffer from the same issues if accepted by the EC.

Microsoft is expected to return to the EC courts in April.

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Home And Contents Insurance In Bc

Home and Contents Insurance in BC

by

insurancevancouver

Protecting the contents of your home is one of the main concerns of BC home owners and renters.

Home Contents Insurance Vancouver allows Canadians in BC to live with peace of mind in their homes, condos or rental accommodations knowing that they are protected should anything adverse happen.

A home contents insurance policy provides insurance against not only damage but also against contents and personal properly being lost or stolen.

Whether you need Canadian home insurance, Condo Insurance Vancouver or Tenant Insurance Vancouver, it is best to have your BC insurance policy customized to meet your specific needs as living situations and valuables differ greatly from home to home.

Home contents insurance companies in BC can provide guidance and advice on how to assess your risks and how to properly value your personal property.

A proper evaluation is necessary in order to design a custom home contents insurance policy that will protect you with the best coverage possible. This is important as each individual s insurance requirements are different on many levels.

[youtube]http://www.youtube.com/watch?v=FtEp5yc-g3A[/youtube]

The home is the most valuable possession for most people and comprises of the single most expensive investment in their lives.

Risk and value assessment are crucial to obtaining the best home contents insurance policy.

Risk is calculated on the basis of the location of the home. For instance, how far away is the nearest fire station or is the home is located in an area with a high crime rate. Urban areas with a high crime rate often entail higher insurance premiums than quiet neighborhoods with little or no reported crime.

Home insurance rates also depend on the condition of the building and the safety precautions taken to protect it. For instance, how old is the building and is it equipped with a fire protection sprinkler system.

The major benefit of insuring your dwelling and personal property appropriately is that it covers all risks and not just specific losses.

Home insurance and home contents insurance coverage in BC should ideally be for more than just the initial loss. The accepted norm is replacement value so that any additional costs associated with bringing your home or personal property up to current standards will also be covered.

BC home contents insurance also protects policy holders from increased repair or replacement costs for the duration of the policy with no allowance for depreciation.

The home insurance policy should also cover any expenses should you have to move out of your home as a result of an insured loss.

Other eligible home insurance considerations may also include coverage for personal property when you are away from home temporarily as well as a student s property while at school.

In order to keep up with changing landscape of home and home contents insurance coverage in BC it is best to renew your home contents insurance policy regularly.

There are a few key factors that require your attention when purchasing home contents insurance other than the price.

But if price is an issue, one way to save money when you purchase your home contents insurance coverage is to increase the amount of your deductible.

You can also get discounts on your home and home contents insurance for having an alarm system installed or for having a fire sprinkler system in place.

It is imperative to ensure that you, your family and your possessions are adequately covered for all types of risk faced by you. The selection of the amount of coverage should be focused on your needs.

The types and levels of home and home contents insurance coverage differ from one provider to another and should be investigated thoroughly so that you can make an informed decision.

Visit us for more information on

Home Contents Insurance Vancouver

,

Condo Insurance Vancouver

and

Tenant Insurance Vancouver

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Home and Contents Insurance in BC

Gastric bypass surgery performed by remote control

Sunday, August 21, 2005

A robotic system at Stanford Medical Center was used to perform a laparoscopic gastric bypass surgery successfully with a theoretically similar rate of complications to that seen in standard operations. However, as there were only 10 people in the experimental group (and another 10 in the control group), this is not a statistically significant sample.

If this surgical procedure is as successful in large-scale studies, it may lead the way for the use of robotic surgery in even more delicate procedures, such as heart surgery. Note that this is not a fully automated system, as a human doctor controls the operation via remote control. Laparoscopic gastric bypass surgery is a treatment for obesity.

There were concerns that doctors, in the future, might only be trained in the remote control procedure. Ronald G. Latimer, M.D., of Santa Barbara, CA, warned “The fact that surgeons may have to open the patient or might actually need to revert to standard laparoscopic techniques demands that this basic training be a requirement before a robot is purchased. Robots do malfunction, so a backup system is imperative. We should not be seduced to buy this instrument to train surgeons if they are not able to do the primary operations themselves.”

There are precedents for just such a problem occurring. A previous “new technology”, the electrocardiogram (ECG), has lead to a lack of basic education on the older technology, the stethoscope. As a result, many heart conditions now go undiagnosed, especially in children and others who rarely undergo an ECG procedure.

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Replacement Window Installer Shares Secrets}

Submitted by: Robert Clarke

Are you thinking about taking on a good do-it-yourself home improvement project? With some simple tools and a few tips from a professional installer, you can take on the job of installing your own vinyl replacement windows.

Advantages

The newer vinyl replacement windows have many benefits to offer owners of older homes. First of all, its all but impossible to find stock windows at your local lumber yard or home improvement center that fit the measurement of the openings from your old windows. Since the newer vinyl replacement windows are made-to-order, the size you get will be a perfect fit.

Another advantage to considering vinyl replacement windows is, you dont have to cut the window existing opening bigger to accommodate a larger window or patch the inside walls and siding because the new window is smaller than the old opening. Since the new replacement windows will be built to fit your existing openings, no other major alterations need to happen. Usually, a little caulking and some minor touch-up painting is all thats necessary.

Some other important advantages of installing new vinyl replacement windows are also inviting. You can expect some energy savings on your fuel bill because of the better insulating properties of thermo pane glass. The glass can also be tinted to reflect heat or to block UV rays. Youll love the tilt-in panes for easy cleaning. No more risky trips up the ladder. Newer windows usually have fewer problems with condensation in winter time because of the better insulating properties of the newer glass panes.

Measuring

Youll need to take an exact measurement, height and width of each window frame to be replaced. Put a small piece of masking tape on each window and give it a number for identification. Write the number of each window on a list, along with the height and width measurements for each window. Tell your window supplier to tag each window ordered with the corresponding number from your list. This will be a great time saver later on when the windows arrive. Youll know exactly where each window goes.

When measuring, use a carpenters framing square to check each window for square. If a window is 1/8th inch out of square, youll need to deduct 1/8th inch from your measurement(s). Use a small level also to check for level and plumb. If the top and bottom of the window opening are level, yet the opening is out of square, theres a good chance that the side openings are not plumb. If the side opening is 1/8th inch out of plumb, deduct 1/8th inch from the width measurement. Usually, your window supplier can give you a printed sheet with their measuring and ordering guidelines. Dont worry; most windows are built with sliding top or side moldings to make up for out of square openings.

Installation

Its best if you have a helper, at least someone to hold the window in place while you attach the mounting screws.

From inside the home, use a flat pry bar to remove the stop moldings on the sides and top of the window. Pull the bottom sash inside. Youll have to cut the weighted ropes on each side to release the window. The lead weights will then drop down inside the wall cavity. Dont worry, you wont need them. Once the bottom sash is out, remove the top sash the same way. Use a paint scraper to clear away any paint chips that might prevent the new window frame from sitting properly. You should then brush and vacuum any debris and dust from the opening.

Slide the new window into the opening to check the fit. If all looks good, remove the window and prepare the opening for installation. Each window manufacturer may have their own specific instructions for installation. Generally, youll want to run a bead of caulking on the sill and sides for the new window to set in. Most windows will have pre-drilled openings in the sides for mounting screws, which are also usually provided.

Next, set the new window back into the opening. Press the unit forward to rest against the outside window stop moldings. Check the window for plumb on the sides. Use wooden shims to move the unit as needed. Once the frame is plumb in the opening, check it with your framing square. Again, shim as needed to get the unit square.

The next thing youll want to check is that the unit is plumb, from inside, to outside. Again, use wooden shims to force your new window unit into plumb. Youll also want to take note where the mounting screws will go and put wooden shims in, as necessary, to fill any voids where screws will be placed. After installing the mounting screws, check each window for smooth operation. You may find it necessary at this point, to remove or add shims for proper operation of the window.

After you are comfortable with the operation of each unit, youll want to slide the extension moldings on the top and sides, to take up any extra space. You can then apply a bead of caulk around all four sides of the window, inside and out.

Summary

To install new vinyl replacement windows is not rocket science. With these tips, some simple tools and printed instructions from your supplier, you can easily install your own vinyl replacement windows.

About the Author: Robert Clarke has operated several home improvement companies over the last 30 years. He is the owner of ContractorsUSA,Inc, a nationwide contractor referral service at

contractorsusa.info/

. Get more information about vinyl replacement windows at

contractorsusa.info/replacement-window-installer.html

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Acting teacher and director Milton Katselas dies at age 75

Tuesday, October 28, 2008

Acting teacher and director Milton Katselas died Friday at age 75, after suffering from heart failure at Cedars-Sinai Medical Center in Los Angeles, California. He began the Beverly Hills Playhouse in 1978 and taught acting classes there to noted actors including George Clooney and Gene Hackman. Katselas is survived by a sister and two brothers.

Katselas directed an off-Broadway production of Edward Albee‘s The Zoo Story, and received a Tony Award nomination for his 1969 direction of Butterflies are Free. Actress Blythe Danner won a Tony Award for her role in Butterflies are Free under Katselas’ direction. He moved to California to direct the film version of that play, and went on to direct films and television movies. Actress Eileen Heckart received an Academy Award for her role in the film version of Butterflies are Free.

Katselas directed the San Francisco and Los Angeles productions of the play P.S. Your Cat Is Dead! by playwright James Kirkwood, Jr. In his author’s notes in the publication of the script, Kirkwood acknowledged Katselas, and wrote that the plays were “directed with incredible energy and enthusiasm by Milton Katselas, to whom I am extremely indebted”.

Katselas directed the television movie Strangers: Story of a Mother and Daughter, and actress Bette Davis received an Emmy Award for her role in the movie. Katselas taught many famous actors including Michelle Pfeiffer, Richard Gere, Robert Duvall, Jack Lemmon, Al Pacino, Goldie Hawn, Christopher Walken, Burt Reynolds, George C. Scott, Elizabeth Taylor, Richard Burton, Alec Baldwin, and Patrick Swayze. Katselas was credited with being able to nurture actors with raw talent so that they could develop strong Hollywood careers. He utilized innovative techniques in his courses – one course called “Terrorist Theatre” had a simple premise: successfully get an acting role within six weeks or leave the course.

He grew up in Pittsburgh, Pennsylvania to parents who had immigrated from Greece, and graduated from Carnegie Mellon. He studied acting with Lee Strasberg in New York at the Actors Studio, and received advice from directors Joshua Logan and Elia Kazan.

Katselas was a prominent Scientologist, and a July 2007 profile on Katselas in The New York Times Magazine observed that some of his students stopped taking courses at the Beverly Hills Playhouse because they felt they had been pressured to join the Church of Scientology. According to the article, Katselas credited Scientology founder L. Ron Hubbard “for much of his success in life”, and one of his students works at Scientology’s Celebrity Centre. The article commented that some in Los Angeles view the Beverly Hills Playhouse as “a recruitment center for Scientology”.

Katselas met L. Ron Hubbard after moving to California, and began studying Scientology in 1965. The New York Times Magazine reported that he had reached the level of “Operating Thetan, Level 5, or O.T. V.” in 2007. According to The New York Times Magazine when Scientologists proceed up the “The Bridge to Total Freedom” they learn the story of Xenu, and that: “75 million years ago the evil alien Xenu solved galactic overpopulation by dumping 13.5 trillion beings in volcanoes on Earth, where they were vaporized, scattering their souls.” A Church of Scientology publication, Source, lists Katselas as reaching O.T. V. in 1989.

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He is brilliant, and knows me so well as a person and an actress that he gets the most out of me.

Though some actors felt pressured to join the Church of Scientology after taking courses at the Beverly Hills Playhouse, at least one individual felt Katselas was not active enough with the organization. Actress Jenna Elfman left the Beverly Hills Playhouse because she felt Katselas was not committed enough to Scientology. Katselas had previously directed Elfman in half of Visions and Lovers: Variations on a Theme, two one-act plays about relationships that he had written himself. In 1999 Katselas had planned to adapt the script of Visions and Lovers to a film version, and Elfman was set to reprise her role from the play. In an article in Variety about the project, Elfman commented on her experience working with Katselas: “He is brilliant, and knows me so well as a person and an actress that he gets the most out of me.”

Other prominent Scientologist actors who have studied under Katselas include Giovanni Ribisi, Jason Lee, and Leah Remini. According to Rolling Stone, Katselas also recruited actress Kelly Preston to Scientology. Actress Nancy Cartwright (the voice of Bart Simpson), told Scientology publication Celebrity that Katselas motivated her to get more active in Scientology, and she stated she took the organization’s “Purification Rundown” and her life “took off completely”.

Life is an endless unspooling of art, of acting, of painting, of architecture. And where did I learn that? From Milton.

Anne Archer was introduced to Scientology while studying at the Beverly Hills Playhouse, as was former Scientologist and now outspoken critic actor Jason Beghe. Beghe told Roger Friedman of FOX News in April 2008 that “He [Katselas] gets kickbacks”, and that he was brought to a Scientology center by fellow Beverly Hills Playhouse classmate Bodhi Elfman, Jenna Elfman’s husband. In a 1998 article for Buzz Magazine, Randye Hoder wrote “In his class, Katselas is careful not to label anything as a tenet of Scientology, but there is no question that the church’s influence seeps into the playhouse.”

Anne Archer’s husband and fellow Scientologist, producer Terry Jastrow, commented to The New York Times Magazine that Katselas changed the way he experiences life on a day-to-day basis: “I go out in the world and look at human behavior now. I see a woman or man interacting with a saleslady, and I see the artistry in it. Life is an endless unspooling of art, of acting, of painting, of architecture. And where did I learn that? From Milton.”

Actor Anthony Head of Buffy the Vampire Slayer spoke highly of Katselas in a 2002 interview with San Francisco Chronicle: “He’s this wonderfully intuitive teacher and his premise is basically: The only real barriers are the ones we put in front of ourselves. If you say, ‘My character wouldn’t do that’ — bollocks! Ultimately it’s you who wouldn’t say that. Who knows what your character might do.” In the acknowledgements of her 2004 autobiography Are You Hungry, Dear?: Life, Laughs, and Lasagna, actress Doris Roberts wrote: “I thank my friend and acting teacher, the incredible Milton Katselas, for his insights, wisdom, and inspiration, which have helped make me the actress that I am.”

I really care about the craft of acting. It’s absolutely necessary to take the time and patience to really develop an actor.

Katselas authored two books: Dreams Into Action: Getting What You Want, first published in 1996 by Dove Books, and Acting Class: Take a Seat, which came out earlier this month. Dreams Into Action, a New York Times Bestseller, sought to modify motivational acting exercises to the field of business.

In an interview in the 2007 book Acting Teachers of America, Katselas commented on his experiences as an acting teacher over the years: “I have very special teachers here at the Beverly Hills Playhouse—some have been with me for over twenty-five years. I believe that to make a difference over the long haul, we need to train teachers. I really care about the craft of acting. It’s absolutely necessary to take the time and patience to really develop an actor.”

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New regional jet takes off from St. Petersburg, Russia

Saturday, December 26, 2009

The new Antonov An-148 jet made its first commercial flight from Saint Petersburg, Russia to Moscow on Thursday.

Starting with one of the busiest regional routes in Russia new Antonovs are to connect the other major destinations throughout Europe.

The new aircraft was designed in the Ukraine by the famous Antonov design bureau and is manufactured in Voronezh, Russia. The twinjet features a high-wing design, glass cockpit and 68 passengers cabin with a 3.5 thousand km range at the average 800 km/h cruising speed.

The first serial airplane has recently joined the fleet of Rossiya (the “Russia”) airline under lease contract with Ilyushin Finance Company.

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Prepare Your Prom 2013 With Vintage Prom Dresses

Normal 0 7.8 0 2 false false false EN-US ZH-CN X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable{mso-style-name:nhWe are already entered January of 2013,prom 2013 is about to come. So it is high time that we should get prepared orit will be too late. Without any doubt, you would like to look your best in theprom dresses you buy. But how to achieve. Is it helpful to buy a gorgeous brandname prom attire? Probably. But the most important factor to be gorgeous is tobe yourself. You need to make sure that the attire you buy should be in linewith your characters as well as your complexion. That is means you need toconsider if you are comfortable in heels or which kind of hairstyle suits you.The dress you buy together with the accessories as well as your hairstylesshould state who you are. If this can be accomplished, you may attractive toothers.

To better state you I would like tointroduce some fancy dress styles to you:

First of all, I would like to introduce youflapper dress. It is a very good option to consider for its both classic and atthe same time different style which can make your statement stand out. If youwant to stand out from the crowds of floor length satin gowns in hot pink andbaby blue, the Flapper is for you. It is sophisticated, luxurious and, mostimportantly, it is absolutely the best style of dress to dance the night awayin. Flapper dresses tend to come in two lengths, the mini and the midi: bothare practical and stunning, what is more you can make some alternation byadding some delicate beading.

The what kind of designs can you get?Common designs are tasseled, for a hypnotic sway, or encrusted with shimmeringbeads and sequins for a stunning effect. Both are gorgeous, but for prom – whenyou want the best photographs possible of your night – shimmer might be thebest way to go. A simple silhouette prom attire would be good option to presentthe best image of yourself.

I have to mention another advantage of thevintage prom dresses they are cheap and easy to match up some accessorieswith the attires. Sequins and studs mean that jewelry can be kept minimal; youcan even go with just a hair band or simple cuff. With shoes both heels andflats work, but don’t go too high if you want to retain some of theauthenticity of the 1920s style. At the time most women wore flats or kittenheels, both of which you can easily find in a range of colors and styles; youdon’t have to sacrifice style for practicality. Go for a clutch in acomplementary shade to your dress. This doesn’t mean matching! For example, adark blue dress will benefit from a grey, silver or purple clutch. Look at thepieces together and if they seem right, go with your instincts. Beautiful smileis also a kind of embellishment, one of the most attractive.

Formore information about promdresses 2013, promdresses UK and bridesmaiddresses 2013, please read the read the related articles.

US stock markets reach 12-year lows

Thursday, March 5, 2009

US stock markets dropped to twelve-year lows on Thursday, amidst falling confidence in the financial sector and worries over whether the US automobile manufacturer General Motors will be able to keep operating.

The Dow Jones Industrial Average dropped by 4.08%, or 280.52 points, at the closing bell, reaching a level of 6595.32, a new 12-year low. The Nasdaq Composite lost 54.15 points, or 4%, to 1299.59, while the Standard & Poor’s 500 plunged by 30.27 points, or 4.25%, closing at 682.60.

Every stock in the Dow Jones, other than Wal-Mart, either lost ground or remained even, and all stocks in the S&P 500 index lost ground.

General Motors’ shares lost 15.5% after the auto firm announced that its auditors had “substantial doubt” over whether it would be able to keep operating.

Shares of financial companies were lower by nine percent, with Bank of America losing 11.7% and Citigroup falling by 9.7%.

“What’s most worrisome is that we haven’t hit the crescendo yet,” said Bill Groeneveld, the head trader for vFinance Investments. “Asset-management divisions are getting calls to just liquidate everything, and we haven’t seen the big players come back in at all.”

“This is one of the worst bear markets in the last 100 years; it started out with the credit crisis and the subprime [loans], but it is like a forest fire that has raced across the clearing and ignited other parts: Autos, auto parts, the insurance companies have been hit very hard. The credit crisis is causing an unraveling of industry after industry because the banks don’t lend,” said David Dreman, the chief investment officer of Dreman Value Management.

European markets were also lower today, with the London’s FTSE index losing 3.2% and the DAX index of Germany falling by five percent.

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