Monday, March 30, 2009

Stock Market Fell After White House Rejected Auto Companies' Plan (March 31th, 2009)

Wall Street have declined after President Barack Obama rejected the General Motors and Chrysler's turnaround plan. He said that both GM and Chrysler didn't provide enough desire to change their companies' structure.

The latest news, about the removal of Rick Wagoner, CEO of GM has also worsened the industry's conditions. But the President said that Rick's removal was a sign that the company needs new direction.

On The other side, the investors have taken their money back after took profit from two last weeks' gain. They said that they want to allocate their money in a more secure sector.

Stay alert and think positively although the economy not as good as we want..


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