| Citigroup downgrade pushes Wall Street lower
NEW YORK - Stocks opened lower on Monday as a brokerage downgrade of Citigroup, the No. 1 US bank, stirred fresh concerns about mounting credit losses.
The Dow Jones industrial average was down 62.35 points, or 0.47 percent, at 13,114.44. The Standard & Poor's 500 Index was down 7.10 points, or 0.49 percent, at 1,451.64. The Nasdaq Composite Index was down 15.96 points, or 0.61 percent, at 2,621.28. .
International Forecaster November 2007 (#5) - Gold, Silver, Economy + More
The following are some snippets from the most recent issue of the International Forecaster. For the full 20 page issue, please see subscription information below. THE INTERNATIONAL FORECASTER SATURDAY 111707(5)_IF P. O. Box 510518, Punta Gorda, FL 33951-0518 An international financial, economic, political and social commentary. Published and Edited by: Bob Chapman E-Mail Address: International_forecaster@yahoo.com CHECK OUT OUR WEBSITE www.theinternationalforecaster.com 1-YEAR $159.95 U.S. Funds US AND CANADIAN SUBSCRIBERS: Make check payable to Robert Chapman (NOT International Forecaster), and mail to P.O. Box 510518, Punta Gorda, FL 33951-0518. Please include name, address, telephone number and e-mail address.
Don't let overdraft fees drain your account
Star Tribune (Minneapolis)(MCT)It was late Friday afternoon. With a thin envelope from my bank in hand and a sick feeling in my stomach, I sped to the nearest branch to beg them to reverse about $100 worth of insufficient funds fees. Fresh out of college, I couldn't afford the charges and was frustrated and confused about how I had screwed up to begin with. Fortunately, the banker took pity on me and reversed three of the four fees.Flash forward to today. I recently wrote a story about a Center for Responsible Lending report that found that 18- to 24-year-olds pay about $1 billion per year in overdraft fees. I was relieved to find that many of the students I spoke with about the findings had never overdrawn their accounts. Some others, such as 21-year-old Nadia Labyad, a senior at Hamline University, have tried to no avail to get their banks to reverse some fees.
Service to honour John Ilhan today
A PUBLIC memorial service will be held today for multimillionaire businessman John Ilhan. The founder of mobile phone empire Crazy John's died after suffering a heart attack while on a morning walk near his home in the southern Melbourne suburb of Brighton on October 23. Speakers at today's event include Victorian Premier John Brumby, Crazy John's managing director Brendan Fleiter, Channel Nine personality Eddie McGuire and National Australia Bank boss Ahmed Fahour. Vanessa Amorosi will perform at the service and Mr Ilhan's wife Patricia will also pay tribute, a statement said. Close to 5000 mourners gathered to farewell the mobile phone tycoon at a traditional Muslim funeral ceremony on October 26. Mr Ilhan migrated from Turkey with his family at the age of five and settled in Broadmeadows, where his father became president of the mosque.
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