Free Essays on Stock Market Crash 1929

The 1929 Stock Market Crash In early 1928 the Dow Jones Average went from a low of 191 early in the year, to a high of 300 in December of 1928 and peaked at 381 in September of 1929. (1929†¦) It was anticipated that the increases in earnings and dividends would continue. (1929†¦) The price to earnings ratings rose from 10 to 12 to 20 and higher for the market’s favorite stocks. (1929†¦) Observers believed that stock market prices in the first 6 months of 1929 were high, while others saw them to be cheap. (1929†¦) On October 3rd, the Dow Jones Average began to drop, declining through the week of October 14th. (1929†¦) On the night of Monday, October 21st, 1929, margin calls were heavy and Dutch and German calls came in from overseas to sell overnight for the Tuesday morning opening. (1929†¦) On Tuesday morning, out-of-town banks and corporations sent in $150 million of call loans, and Wall Street was in a panic before the New York Stock Exchange opened. (1929†¦) On Thursday, October 24th, 1929, people began to sell their stocks as fast as they could. Sell orders flooded the market exchanges. (1929†¦) This day became known as Black Thursday. (Black Thursday†¦) On a normal day, only 750-800 members of the New York Stock Exchange started the exchange. (1929†¦) There were 1100 members on the floor for the morning opening. (1929†¦) Furthermore, the exchange directed all employees to be on the floor since there were numerous margin calls and sell orders placed overnight. Extra telephone staff was also arranged at the member’s boxes around the floor. (1929†¦) The Dow Jones Average closed at 299 that day. (1929†¦) On Tuesday, October 29th, 1929, the crash began. (1929†¦) Within the first few hours, the price fell so far as to wipe out all gains that had been made the entire previous year. (1929†¦) This day the Dow Jones Average would close at 230. (1929†¦) Between October 29th, and November 13 over 30 billion doll... Free Essays on Stock Market Crash 1929 Free Essays on Stock Market Crash 1929 The 1929 Stock Market Crash In early 1928 the Dow Jones Average went from a low of 191 early in the year, to a high of 300 in December of 1928 and peaked at 381 in September of 1929. (1929†¦) It was anticipated that the increases in earnings and dividends would continue. (1929†¦) The price to earnings ratings rose from 10 to 12 to 20 and higher for the market’s favorite stocks. (1929†¦) Observers believed that stock market prices in the first 6 months of 1929 were high, while others saw them to be cheap. (1929†¦) On October 3rd, the Dow Jones Average began to drop, declining through the week of October 14th. (1929†¦) On the night of Monday, October 21st, 1929, margin calls were heavy and Dutch and German calls came in from overseas to sell overnight for the Tuesday morning opening. (1929†¦) On Tuesday morning, out-of-town banks and corporations sent in $150 million of call loans, and Wall Street was in a panic before the New York Stock Exchange opened. (1929†¦) On Thursday, October 24th, 1929, people began to sell their stocks as fast as they could. Sell orders flooded the market exchanges. (1929†¦) This day became known as Black Thursday. (Black Thursday†¦) On a normal day, only 750-800 members of the New York Stock Exchange started the exchange. (1929†¦) There were 1100 members on the floor for the morning opening. (1929†¦) Furthermore, the exchange directed all employees to be on the floor since there were numerous margin calls and sell orders placed overnight. Extra telephone staff was also arranged at the member’s boxes around the floor. (1929†¦) The Dow Jones Average closed at 299 that day. (1929†¦) On Tuesday, October 29th, 1929, the crash began. (1929†¦) Within the first few hours, the price fell so far as to wipe out all gains that had been made the entire previous year. (1929†¦) This day the Dow Jones Average would close at 230. (1929†¦) Between October 29th, and November 13 over 30 billion doll...

Important Steps to Take for Earthquake Preparedness

Important Steps to Take for Earthquake Preparedness On the 100th anniversary of the Great San Francisco Earthquake of 1906, thousands of scientists, engineers and emergency management experts gathered in San Francisco for a conference. From that meeting of the minds came 10 recommended action steps for the region to take against future earthquakes. These 10 action steps apply to society at all levels, including individuals, businesses, and governments. This means that all of us who work for businesses and participate in government activities have ways to help beyond taking care of ourselves at home. This is not a checklist, but rather an outline of a permanent program. Not everyone can utilize all 10 steps, but everyone should try to carry out as many as possible. People elsewhere take part in a culture of preparedness for their regional hazard, whether they live in an area prone to hurricanes, tornados, blizzards or fires. Its different in earthquake country because the big events are rare and they occur without warning. Things on this list that may seem obvious in other places have yet to be learned in earthquake country   or, they were learned and forgotten, like the San Francisco region in the years after the 1906 quake. These action steps are crucial elements of a disaster-resilient civilization and serve 3 distinct purposes: making preparedness part of the regional culture, investing to reduce losses, and planning for recovery. Preparedness Know your risks. Study the buildings that you live in, work in or own: On what kind of ground are they sited? How might the transportation systems serving them be threatened? What seismic risks affect their lifelines? And how can they be made safer for you?Prepare to be self-sufficient. Not just your home, but your workplace too should be ready for 3 to 5 days without water, power or food. While this is the normal suggestion, FEMA suggests carrying up to 2 weeks worth of food and water.  Care for the most vulnerable. Individuals may be able to help their families and immediate neighbors, but people with special needs will need special preparations. Ensuring this necessary response for vulnerable populations and neighborhoods will take concerted, sustained action by governments.Collaborate on a regional response. Emergency responders already do this, but the effort should extend further. Government agencies and major industries must work together to help their regions prepare for ma jor earthquakes. This includes regional plans, training, and exercises as well as continuous public education. Loss Reduction Focus on dangerous buildings. Fixing buildings that are likely to collapse will save the most lives. Mitigation measures for these buildings include retrofitting, rebuilding and controlling occupancy to reduce exposure to risk. Governments and building owners, working with earthquake professionals, bear the most responsibility here.Ensure essential facilities function. Every facility needed for emergency response must be capable of not just surviving a large quake, but also remaining functional afterward. These include fire and police stations, hospitals, schools and shelters and emergency command posts. Much of this task is already a legal requirement in many states.Invest in critical infrastructure. Energy supplies, sewage, and water, roads, and bridges, rail lines and airports, dams, and levees, cellular communications the list is long of functions that must be ready for survival and quick recovery. Governments need to prioritize these and invest in retrofitting or rebuilding as much as they can while keeping a long-term perspective. Recovery Plan for regional housing. In the midst of disrupted infrastructure, uninhabitable buildings and widespread fires, displaced people will need relocation housing for both the short and the long term. Governments and major industries must plan for this in collaboration.Protect your financial recovery. Everyone   individuals, agencies, and businesses must estimate what their repair and recovery costs are likely to be after a major earthquake, then arrange a plan to cover those costs.Plan for regional economic recovery. Governments at all levels must collaborate with the insurance industry and major regional industries to ensure the provision of relief money for individuals and for communities. Timely funds are crucial for recovery, and the better the plans, the fewer mistakes will be made. Edited by Brooks Mitchell