This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Top Business Story: Recovery From Great Recession

After four quarters of decline, the economy returns to growth during the July-to-September period, signaling the end of the deepest and longest recession since the 1930s.

The rebound is sluggish and powered mainly by government stimulus to entice people to buy homes and cars. In the meantime, the unemployment rate tops 10 percent for only the second time since World War II.

A total of 15.4 million people are unemployed, and work remains scarce. The recession wipes out 7.2 million jobs. The Federal Reserve says it could take five or six years for the labor market to return to normal.

Americans' nest eggs are starting to heal. Yet experts say it will take years to recoup their losses. Net worth rose 5 percent last quarter but remains far below its pre-recession peak.

2. AUTO INDUSTRY COLLAPSE: U.S. auto sales plunge to a 26-year low, hastening General Motors' and Chrysler's collapse into bankruptcy and government control. Both companies emerge much smaller.

GM axes several major brands, including Saturn, Pontiac and Hummer, and thousands of dealerships. In March, CEO Rick Wagoner is ousted by the government. His replacement, 25-year GM veteran Fritz Henderson, is ousted in December. Chairman Ed Whitacre replaces Henderson even though the former AT&T CEO acknowledges knowing little about cars.

Chrysler emerges from bankruptcy under the control of Italy's Fiat. In November, Chrysler announces a five-year plan to spend $23 billion to overhaul or replace all of its Chrysler, Dodge, Jeep and Ram models by 2014. Much of the overhaul includes cost savings from combining purchasing and engineering with Fiat, and using Fiat's smaller, more fuel-efficient designs to replace aging Chrysler vehicles.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $125.29 -0.85%
FB $82.78 -0.50%
GOOG $552.89 0.16%
TSLA $190.96 0.20%
YHOO $44.82 -0.29%

Markets

DOW 17,875.52 -100.79 -0.56%
S&P 500 2,079.06 -7.18 -0.34%
NASDAQ 4,926.8140 -20.6270 -0.42%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs