Posts Tagged how to collect debt
What Happens When A Stock Market Crashes?
Posted by Mallory Megan in Currency & Finance on July 10th, 2010
A stock market crash can be summed up as a situation where share prices of stock listed on the stock exchanges plummet. Despite the fact that there are many economic variables that will cause a stock market crash, two main reasons for stock market crashes are also the investing public’s loss of confidence in the economy and mass panic.
Quite often, the aftershock of stock market crashes can be dismal for a country’s economy. There have been awful stock market crashes that resulted in the loss of billions of dollars, and as a growing number of people become involved in the stock market, crashes have touched more lives as of late.
One of the most infamous stock market crashes began on October 24, 1929 and would be come to be known as Black Thursday. The Dow Jones Industrial lost fifty percent during this stock market crash, setting off the start of the Great Depression. Another famous crash occurred on October 19, 1987, which also known as Black Monday. The crash started in Hong Kong but rapidly caught fire around the world.
By the time October was over, stock markets in Hong Kong had fallen 45.5%, the United States had fallen 22.68%, and Australia, Spain, the United Kingdom and Canada suffered intensely in addition. In stock market history, this marked the biggest one day percentage decline – the Dow Jones fell by 22.6% in one day.
Nobody could seem to explain the crash in 1987. The main news and events at the time couldn’t predict the disaster and any obvious reasons for the collapse could not be identified. This crash brought many questions to the minds of economists about the theories and assumptions of modern economics. After the crash, computer systems were upgraded in the stock exchanges to handle larger trading volumes more efficiently. The New York Stock Exchange also introduced the concept of a circuit breaker, which halts trading if the Dow declines a prescribed number of points for a prescribed amount of time.
Mallory Megan works for Rapid Recovery Solution and writes articles on medical collection agencies.
Bankruptcy Lawyers Get Down At Gathering
Posted by Mallory Megan in Currency & Finance on February 6th, 2010
For some reason a gathering of mid-level bankruptcy professionals made it into the news recently. They met at a bar, some networked, others found new clients, and others just came for the fun. Sources reveal that all of the young executives were enjoying themselves very much.
Maybe one of the only industries flourishing in today’s economy; the corporate restructuring profession is experiencing an upswing. According to statistics, U.S. business bankruptcies climbed up to 38% in 2009 from the past year.
This increase inspired advisory firms into bulking up their practices with new “turnaround experts,” young lawyers who burn the midnight oil in order to handle the blitz of bankruptcy cases. Without a doubt, established pros have enjoyed one or two good company-approved networking outings; wine tastings, makeover and martinis groups, and golf are just a couple of examples. Unfortunately, this leaves only the less experienced attorneys to work at a desk into the night.
This was not the first get together like this. December marked the first gathering of the “Turnaround Underground” posse. Oops did I say posse? I meant gathering. Turnaround Underground gathering. Some attorneys came to network. A few attorneys came looking for love in all the wrong places. “You can meet your best friend here, meet your significant other here. This is not all about business” a starry eyed lawyer cooed. But some of the party-goers managed to leave work at work, loosening their ties and kicking up their feet.
Fashionably late, attendees stormed the bar minutes after the get together officially started at 7 pm in a classy New York City nightspot. Within 45 minutes, there were BlackBerrys, business suits, and beer as far as the eye could see. In fact, one unruly attorney who wisely declined to be named was quoted as saying “Everything is better with beer.” All in all, it seems as though Turnaround Underground is a success.
Mallory Megan is employed by a debt collection agency. She also writes pieces about business and finance, the credit industry and debt collection.
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