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Poll | 10/15/2009 12:00 am

What is your reaction to the Dow's closing above 10k on Wednesday?

31 Reader Comments (so far…) Sign In or Register to comment

Katharine Gray

I fully expect that by the end of next year my 401K will be declared public property and confiscated so it makes no difference to me.

 

 

By Katharine Gray on 10/15/2009 12:33 am
Linda Myers
Political move.
By Linda Myers on 10/15/2009 12:44 am
kermie b
I’ll be excited when decent jobs are available.   I’ve been laid off for 10 months and counting. 
By kermie b on 10/15/2009 1:04 am
Patricia Sprofera
kermie b - I’ll keep a good thought for you in your search for a decent job.  Patty
By Patricia Sprofera on 10/15/2009 1:16 am
Leanette T
Hi, Kermie,  Me too.  I lost my job in Sept 2007.  Only thing I’ve been able to find is a very part time job.  Just gotta hang in there.  Many blessing to you fellow seeker.
By Leanette T on 10/15/2009 1:56 am
kermie b
Leanette—2007!  I’m so sorry.  You are right.  We just have to hang in there until…well, until. 
By kermie b on 10/15/2009 10:39 am
KatyDid Wells

I’m right there with you, kermie b.  My last day of work was December 31st of ‘08. 

I have to admit, in the beginning, I wasn’t that worried, (I didn’t even claim unemployment out of a - misplaced? - loyalty to my small town, independent employer and trying to keep her future costs down) but ten months later, I’m starting to wonder if a decent jobs are a thing of the past.  Everyone has downsized, streamlined, or just plain closed down  - hiring for key positions these days is a rare thing indeed.

I’d even be happy for a part-time position in a different field, just as long as it is something engaging and challenging.  And yet, I can’t even find that…

By KatyDid Wells on 10/15/2009 11:44 am
Leanette T
KatyDid - I feel your pain.  You might try applying for a job at Home Depot, they are always hiring cashiers - not exciting or engaging but it is certainly a challenge to try and live on part time low pay.  The good part is that the customers are great and most of the other employees are great people to work with.  And, it is something to keep busy with while you look for something better. Oh, and they offer health insurance after 90 days.
By Leanette T on 10/15/2009 5:29 pm
KatyDid Wells

Thanks, Leanette.  It’s something I’ll keep in mind.  I do count myself as one of the fortunate as I have health insurance through my husband’s company - I have to pay my own premiums, but the coverage is decent and the cost at group rate is still manageable. 

I don’t know how HD hires, but thus far it seems I fall in between the cracks everywhere else.  I have years of experience, but not the education to back up my career.  This is something that didn’t matter as much 25/30 years ago, but now everyone wants that piece of paper, regardless of whether you can show consistent work experience as a substitute (competition is tight, I suppose hiring managers can be as demanding as they want). 

On the other side of the coin, I’ve been told that I’m over-qualified.  I’ve been in management for so long, people don’t want to hire me to do administrative jobs, part-time work, or cashier/retail work.  My guess is that they fear I would not like working under others or that I would not work well for other people - or maybe they just want someone more malleable (which I have to admit, I’m not - I’m not stuck in my ways, but I do like to be given a job and then be left to think for myself to complete it).  I’m open to whatever I find - management or not - I like a team atmosphere so I work well with others and would be happy to work under someone else again. That said, there are one or two things that could get me into trouble - I do not suffer fools or tyrants well, but if those issues arise, it’s probably not someplace I want to be anyway, right? 

Oh well, something will turn up… it always does (she says, optimistically). There are a lot of us in the same boat, we’re bound to catch a fair wind one of these days! 

By KatyDid Wells on 10/15/2009 9:16 pm
Patricia Sprofera
The Dow’s hitting 10k, though a hopeful sign, will not help all those who are unemployed, underemployed and those who have stopped looking for work.  This nationwide number is 26 million, as reported by the local (NYC) news broadcast on CBS-TV, on 10.14.09.  Hope should win; instead politics will win. 
By Patricia Sprofera on 10/15/2009 1:08 am
Leanette T
Hi, Patricia.  26 million!  As a number that is staggering.  When I think of it as representing people I have trouble seeing it.  26 million is more than the populations of Texas & Alaska combined.  OMG
By Leanette T on 10/15/2009 12:07 pm
Patricia Sprofera
Leanette T - Yes, that number is indeed, staggering.  
By Patricia Sprofera on 10/15/2009 12:34 pm
Janna S.
The stock market has become a gambling game for the rich!  It no longer is about true investment in to businesses and long term growth of the country at large.
By Janna S. on 10/15/2009 1:59 am
Baby  Snooks

All it means to me is someone is manipulating the market. The very rich may be getting richer. The rest of us are headed for the freeway underpasses. 

The Dow Jones is not really a bellweather of the economy in general although it is important to note that one "absolute" on Wall Street is that when unemployement goes up, stocks go up as well.  Layoffs mean less employees = more profit.  One of the stranger realities. 

By Baby Snooks on 10/15/2009 3:35 am
Zera Lee

I took a quick look at the companies in the DJIA, and it seems to me that several of them are too global to reflect just the American economy.

By Zera Lee on 10/17/2009 10:59 pm