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Frank Cotolo
November 28, 2009 |
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WALL STREET - Cotolo Chronicles (CC) reporters say the buzz on Wall Street is
that the rocky 2009 market forecasts that some companies will stay open and sell
stocks and other companies will close down.
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"The companies that close cannot sell stocks," said Wall Street expert Bill Boat.
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The companies closing will also have to release all the people working for them.
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"This," Boat said, "means higher unemployment, especially for the people who
won't be able to work for the closing companies."
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It is speculated that maybe the people fired from the companies that close can
go to work for the companies that stay open.
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"It is possible," Boat told CC reporters, "but right now I have to go somewhere
and cannot give you any more quotes."
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Another financial specialist, this one who has worked for a company that has
stayed open for years now, said, "This is one of the bad things about companies.
They don't always stay open. If their business becomes bad, they close.
It wasn't always like this. In the old days some companies stayed open no matter
how much money they lost."
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The announcement worried some company owners that were sure there would be no
more government bail-outs.
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"I hope my company stays open," said one company owner.
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"Me too," said another company owner. "I don't care about anyone else's company
as much as I care about my own company. If my company closes, I am through."
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The announcement could cause a selling frenzy.
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"Maybe a lot of people will sell their stocks when they find out that some
companies are closing," said a Wall Street regular.
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Some experts think that if too many stocks are sold, more companies may close.
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"This could get ugly," said Brett Beach, who has sold stock in companies that
have stayed open for years. "It is a cycle that, like most cycles, goes around."
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"I am not worried," said another man who has all of his money invested in
companies that have stayed open. "When a company closes, another company opens.
They open and close all the time. The trick is to stay away from the ones that
close."
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