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Week in Numbers: Financial Turmoil! Sky Falling!

Posted By Jim On 07/04/2008 @ 12:15 pm In Personal Finance | 14 Comments

The Dow opened on January 2nd, 2008 at 13,261.82 and opened on July 1st, 2008 at 11,344.64 – for a spectacular fall of over 1,917 points. Don’t calculate the percentage, it’ll just make you throw up.

This week, a barrel of oil (NYMEX Sweet Crude) topped $145. A barrel of oil cost an average of $15.70 ten years ago (adjusted to 2007 dollars). I will be investing in a Flintstone-mobile. Here are the latest energy prices on Bloomberg [3]. *sigh*

Can someone with better math, or better descriptive skills, explain why a 50% difference is only considered “slight?” We expected 40,000 fewer jobs in June, there are actually 62,000 fewer jobs [4]… but it’s only slight. “Job losses in June were slightly worse than the 40,000 expected by economists surveyed…”

Starbucks to close 600 stores [5] with 12,000 affected workers. Stockholders rejoice as SBUX jumped 4.6% and MBA professors sob as one of the most referenced marketing case studies gets a black eye. At least there’s always Southwest.

Royal Caribbean’s Project Genesis [6], a cruise ship yet to be named, will be the most expensive and largest cruise ship ever constructed and will cost a mere $1.24 billion dollars. It will carry 6,400 passengers, weight 220,000 gross registered tons, and displace more water than a Nimitz-class aircraft carrier. (it wasn’t announced this week, in fact it was announced over a year ago, but it was worth putting in this week just because!)

Have a great Fourth of July Weekend!

(I’m going to start doing Week in Numbers [WIN] every Friday afternoon, please let me know what you think!)

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[3] latest energy prices on Bloomberg: http://www.bloomberg.com/markets/commodities/energyprices.html

[4] actually 62,000 fewer jobs: http://www.marketwatch.com/News/Story/payrolls-fall-62000-june/story.aspx?guid={7A89F35A-9A3D-4583-9C8C-2359C9F4F7D2}

[5] Starbucks to close 600 stores: http://biz.yahoo.com/ap/080702/starbucks_closings.html

[6] Royal Caribbean’s Project Genesis: http://www.msnbc.msn.com/id/11199685/

Thank you for reading!