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Thursday, October 8, 2009
Consumers Look to Debt Relief Options as DOW Changes
Consumers are looking for more debt relief options as the stock market continues to fluctuate. This week the DOW Jones Industrial average made some drastic changes. The DOW Jones average is a roster of thirty stocks that most effectively weight the Wall Street's financial climate. The DOW dropped Citigroup Inc and GM Corp. from its system. This is in response to GM's recent filing for bankruptcy protection.
GM has been part of the DOW system for 83 years. This is a testament to the faltering economy and how different it may be once the recession is over. Travelers Cos. and Cicso Systems, Inc. are both set to replace Citigroup and GM, respectively.
Credit and the DOW Jones average
Many people look to the DOW as a barometer of the overall financial climate of the U.S. With the DOW making major changes and going through restructuring, people are concerned.
Kelsey Glaser of Charleston, West Virginia said, "My family always used credit, but now that everything is so unknown, we are cutting back on plastic…with industry giants going down like they are, who knows what tomorrow will bring for us, the little guy." Glaser is not alone in his concerns. Many Americans have been cutting back drastically as they maneuver the economy. … click here to read the rest of the article titled “Consumers Look to Debt Relief Options as DOW Changes“
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