Intersecting Minds: Education, Business and Technology at the North Carolina State Jenkins Graduate School of Management

Friday Morning Quick Hits | February 20, 2009

We’ll start the day off right. The Dow finished yesterday at a 7,465.95, a 6-year low. This morning the market is set to open down another 125 points. Needless to say, investors concerns over the length and severity of the recession seem to be coming in line with most prominent economists.

So where are people stashing their money away? Gold, naturally. Futures on the commodity are set to top $1,000 for the first time in history.

Home-building retailer Lowe’s is reporting a sharp drop in profits.

J.C. Penney’s net income fell 51% as retailers continue to get hammered.

Mining giant Anglo American will lay off 19,000 workers after they reported a 29% decline in net profit. It seems that almost no economic sector will escape this recession.

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