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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