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Bluefield Daily Telegraph in Bluefield, West Virginia

09 Dec 2008

Page 14

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Bluefield Daily Telegraph December 9, 2008 Page 14 old newspaper archives

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Newspaper

Bluefield Daily Telegraph

Location

Bluefield, West Virginia, United States of America

Date

Dec 09, 2008

Page

14

Stocks rise on Obama plan boosting hopes for economy

U.S. stock indexes climbed for a second straight session as investors bet Barack Obama's public works plan will revive growth. The Dow surged 298.76 to 8,934.18, S&P 500 rose 33.63 to 909.70, Nasdaq up 62.43 to 1,571.74, with Alcoa and Caterpillar leading gains. Bond yields edged higher while the dollar and gold moved mixed.

MENTIONED IN THIS ARTICLE

AES Corp AMR At&t Inc Alcoa Altrias Ambach Amowill AmExp AmintiGo Anadarko Bncolaus Mo Barricks Boaing Boston Se Dow Industrials Dow Transportation BrMySq Dow Utilities CBS B Nyse Composite Ciitgp Amex Caterpillar S&p Cemex SAP MidCap Russell Wilshire Chevron Citigro Cocac CVRD Cvrd Pt Amex ConocPhil A Nasona Corning DJIA Disney Citizfstb DuPont Genworth Nthno&g N Ocharleys Lannett Duke Engy TRW Autoo Targacept Titan Mercadol FannieMac Excelm TrValley Aldnevg JamesRiv Fordm Aurizon TBS FredMac Patriot GenElec AllosThera Golderpg Bikvamb Insure.com Prouksem Pscrudeds GrtFlaBk Hewlettp Waemmit Evinspa Pscrudedl Microsoft Ishemkts Facl SP Mid Cisco ProUltFin LibtyAcq Intel Isease EkotAm ElderGid G Apple Inc Prouitsp GranTra Yahoo Isr1ikg Shemkts Brevidiatr Dell Inc Isrustk BootsCts Comcast Ishr2k Jpmorgch FrkStPro Qualgom Iswrest Ishfnse Keycorp Kraft Kroger LS Corp Ie Lvsands Lowes Macys Merck HomeDp IBM NY BakrHu NY JohnJn NY Mitsuufj Os NY Kroger Mitufu Wi Chevron NY Lowes NY MorgStan Cocac NY Marathono Motorola Microsoft Nasd Ra NY Mylan Consol Newscpa Penne NY NokiaCo PepsiCo NY Nucor Scs NY Pfizer NY DuPont NY PhilMorn NY OcciPet DukeEngy NY Praxair NY Onsvht RexStrs NY Peabdye Emersone NY ExxonMbi NY Templeins NY SearsHidgs Nasd Petrbrs FrontierCm UPS GenElec NY US Steel Britain Canada Euro Proushtfn Japan Proulre Nth Mexico U.S ProdGam ProLogis Prudent Min Init Pulteh Minsmo of Loai QwestCm PIMCO Grthama m LG Schergp CpWidGriAm WS Schimbrg Invcoama m LV SprintNex Fidelity Contra SP Matis Incamera m MA Consum Wamutinva EurPacGrAm SP Inds Cox Stock Te Vanguard Instrux Suncorps Balamia Cox Transcen Vanguard Rd Wellin Fidelity GrowCo LG Valeroe Visan Morningstar Wachovia WalMart Wells Fargo WendyArby Aia al Ha Yamanag New York Barack Obama Obama Alcoa Inc Caterpillar Inc America White House Congress General Motors Corp Chrysler LLC Ford Motor Co Labor Department James Cox Harris Financial Group Dow Treasury David Kelly Jpmorgan Funds Scott Fullman WJB Capital
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First $350 billion bailout leaves $15 billion unused

The Treasury said $335 billion of the $350 billion in the first bailout tranche has been allocated, with $250 billion for bank capital infusions and $40 billion for AIG, plus $25 billion for Citigroup. Officials defend strategy while critics urge caution and tighter oversight.

MENTIONED IN THIS ARTICLE

Washington Treasury Department Department Congress Treasury Henry Paulson American International Group Citigroup Inc Citigroup Federal Reserve Capitol Hill Paulson Wall Street
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Cliffs cuts production at North American mines

International mine operator Cliffs Natural Resources says it will cut iron ore output at six North American mines and one coal operation due to weaker steel demand. Iron ore production drops to about 15 million tons from 23 million, with pellet furnaces idled. U.S. coal production is cut by 100000 tons to about 3.5 million tons, and ~100 workers at the Pinnacle Complex in West Virginia face layoffs.

MENTIONED IN THIS ARTICLE

Charleston Cliffs Natural Resources Michigan Minnesota Canada Cliffs U.S Cliffs’ Pinnacle Complex West Virginia Wyoming County
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Dow cuts 5000 jobs and closes 20 plants

Dow Chemical in Midland Michigan announced 5000 layoffs about 11 percent of its workforce. The plan includes closing 20 plants and selling businesses to save about 700 million dollars annually by 2010. The moves add to 800 million in expected savings from the Rohm and Haas acquisition.

MENTIONED IN THIS ARTICLE

Midland, Mich Dow Chemical Dow Chemical Co Rohm and Haas
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Tribune Co. Files For Bankruptcy Protection

Tribune Co. filed for Chapter 11 amid $13 billion in debt and ad revenue losses, becoming the first major newspaper publisher to seek protection since the Internet upheaval. The Chicago Cubs, Chicago Tribune, Los Angeles Times, and other outlets face strained lender covenants as recession and asset sales like Newsday and Wrigley Field aim to raise cash.

MENTIONED IN THIS ARTICLE

EW York Tribune Co Sam Zell Tribune Ken Doctor Outsell Inc The Chicago Cubs Los Long Island
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Also Mentioned on This Page

the Market IN Review NYSE Dow Jones Dow Jones Industrials Donald Kohn Neel Kashkari Office of Financial Stability Kohn Kashkari
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