Fresh Produce Discussion Blog

Created by The Packer's National Editor Tom Karst

Monday, September 29, 2008

Largest drop ever

There is no "sugar coating" this, right? What does this mean for the operations and strategic planning for produce industry companies that rely on the credit markets, whether multi-national grower shipper or national and international retailer? Here's a nugget to grab hold of: it is always darkest before the dawn. From the AP:


NEW YORK (AP) -- Wall Street's worst fears came to pass Monday, when the government's financial bailout plan failed in Congress and stocks plunged precipitously -- hurtling the Dow Jones industrials down nearly 780 points in their largest one-day point drop ever. Credit markets, whose turmoil helped feed the stock market's angst, froze up further amid the growing belief that the country is headed into a spreading credit and economic crisis.

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