Monday, September 29, 2008
Stock prices of Dallas-based companies sink like everywhere else after defeat of bailout vote
Maybe they'll get their value back on Tuesday. It could happen.
DALLAS After the U.S. House defeated the $700-billion bail-out of Wall Street, stock prices on Dallas companies hit the skids, going down by 5 percent and more. That included Comerica Corp., which dropped 11.81% (from $34.30 to $30.25); AmeriCredit Corp., which dropped 10.39% to $10 per share; Centex Corp., which dropped 11.21% to $15.36; Texas Instruments, which dropped 7.52% (from $23.26 to $21.51); J.C. Penney Co., which dropped 6.93% (from $35.50 to $33.04); AMR/American Airlines, which dropped nearly 9% to $9.92; Blockbuster, Fluor, Alliance Data Systems, just stop me when you get bored with this.
For more exciting stock-market free-fall details, be sure to hit the Dallas Business Journal link. It'll all come back up, right? We have -- how does that bald dude Paulson put it? -- a "resilient economy", right?
The DBJ also has the headcount on who voted for the bailout, and who voted against it. Voting for: Kay Granger, Pete Sessions, Chet Edwards, and Eddie Bernice Johnson. Against: Jeb Hensarling, Michael Burgess, Sam Johnson, Louis Gohmert, Kenny Marchant, and Joe Barton.
Posted by T.G.