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Business fun facts!
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At the end of 2008 approximately 7 out of 10 people in the US owned a home. The US population is over 303 million.
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In 2008, $3.3 Trillion was the total loss in value for the US housing market. In early 2006 housing market value was close to $9.4 Trillion.
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| Not so fun fact…there are over 15 million home owners with questionable mortgage loans. Experts believe that 2/3 or over 10 million have potential of foreclosure. |
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Put it in perspective-
US GDP is close to $14 trillion; US national debt is over 11 trillion; DOW market value decline is close to $8 trillion; China GDP is over $3 trillion; Wealth of Forbes’ 400 richest people is over $1.5 trillion.
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If you spend a dollar to buy goods or services, 70 cents of the dollar directly goes to boost the economy.
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| Do you know that one out of three mortgage applications are rejected because of poor credit history? Read why it is important to be responsible with money? Volume 12 |
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Six out of 10 teens consider learning about managing money their top priority.
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Unemployment rate rises to 8.9% – The job market shows some signs of improvement, however, unemployment remains 25-year high. The Labor Department reported that employers cut 539,000 jobs in April, which is better than March when 699,000 people lost their jobs. So far this year 2.63 million people have lost their jobs!
In April, the unemployment rate rose to 8.9% from 8.5% in March. The US total population is over 303 million. Of which over half or approximately 155 million people are in the US workforce. The unemployment rate of 8.9% means that there are close to 14 million people without jobs now. Of these 14 million people without jobs, one out of four people has been out of job for over six months!
 The DOW closed up 361 points, or 4.4%, the S&P500 was up 50 points, or 5.7%, and the NASDAQ up 5 points, or 0.3%, for the week ending May 8th. Year-To-Date (YTD) S&P500 is up 2.8%, the DOW is down -2.3% and the NASDAQ is up 9.2%. Oil closed at $58.63 per barrel this week. Why is oil price suddenly going up? We will talk about it next week.
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Compare the Great Depression and Current Recession (What is a Recession? What is a Depression? Click and read Volume 48.)
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Source-CNN, Federal Reserve, Commerce Department, and estimates |
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__________####___________
Please keep your feedback and comments coming. THANKS! Just click
contact@businessnewsforkids.com
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… Throughout our news page, we have created links in red color which provide you with additional information …you will see two types of links…One when clicked takes you to a new page for more information…Other are pop-ups, and if you bring your cursor over red link words, then additional information will pop up…
For example, just move your cursor to Starbucks (Ticker SBUX) and you should see the following text pop-up-
“Starbucks Corporation (Ticker SBUX) has sales of over $10 billion. It sells whole bean coffees, brewed coffees, cold blended beverages, various complementary food items, coffee-related accessories and equipment, a selection of premium teas, and a line of compact discs, through its retail stores worldwide. As of September 30, 2007, the company operated 8,505 retail stores. Starbucks Corporation was founded in 1985 and is based in Seattle, Washington.”
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Learn more about…
What is Credit History? Why is it important to have a good credit history? Volume 12.
What is Economy, Business, Workers, Goods, Services, Stock, DOW, S&P500, and NASDAQ? Volume 16.
Does it pay to study hard? Volume 17.
What is the Currency and Foreign Currency Exchange rate? Volume 14. What is a stronger or weaker currency? Volume 20. What does the dollar slide mean? Volume 32.
How does money grow in a bank? Volume 21.
What are the Fed Funds rate and Discount rate? Volume 22
What does the interest rate cut mean for you? What is APR? Volume 23.
How to read stock information? Volume 25.
What is “Black Monday”…Crash of 87”? Volume 31.
Who are the CEO, CFO, Shareholders, and the Board of Directors? What is SOX? Volume 33
What does “$4.95 + Tax” mean? Volume 47.
What is a Recession? What is a Depression? Volume 48.
What is Mergers & Acquisition (M&A)? What is a Merger? Volume 49.
What is ADR? Volume 62.
What does buying back of shares mean? Volume 63.
Why is consumer confidence so important? Volume 64.
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May 4-8, 2009
Weekly Stock Market
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Markets Up!
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Index
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Change
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Last
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DOW
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Up 361
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8,575
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S&P500
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Up 50
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929
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NASDAQ
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Up 5
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1,739
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Foreign Exchange Rate
$1 is equal to
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Currency
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Change
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Last
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Euro (€)
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-0.02
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0.73
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Yen (¥)
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-0.64
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98.49
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Pound (£)
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-0.01
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0.66
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Yuan ( )
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0.00
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6.83
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Rupee (Rs.)
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0.52
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49.15
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Canadian (C$)
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0.03
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1.15
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Your Favorite Stocks
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Company
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Bought one stock in Jan-09
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This week stock is?
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Your gain or loss?
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$23.92
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$25.46
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$1.54
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$45.05
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$42.83
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-$2.22
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$63.75
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$54.92
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-$8.83
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Resources
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Teaching Kids Entrepreneurship
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We use multiple information resources, such as, websites, companies, stock exchanges, newspapers, text books, and others.
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