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American Airlines stock is down 9% today, from $10.32 a share down to $9.40 a share.  American Airlines has cancelled 850 flights, roughly 40% of it’s flights for Wednesday as it conducts safety inspections on it’s MD-80 aircraft.  The cancellations follow 450+ cancellations on Tuesday, and a couple hundred two weeks ago.  Thousands of passengers have been left stranded due to the huge amount of flights being cancelled.  Flight cancellations are expected to continue into Thursday as they continue working on wiring work they had done two weeks ago. 

After Microsoft’s weekend ultimatum that Yahoo accepts the $41 billion buyout offer or they would go to the Yahoo shareholders with a lower offer in a hostile takeover.  Yahoo again tries to pull punches with Microsoft claiming the offer is to low and continues to undervalue Yahoo. 

Yahoo executives need to figure out what is in the best interest of the shareholders and not themselves.  Microsoft’s offer was a 61% premium over the $19 share price the company had before the offer.  The company had a market value of $25 billion before the offer was made.  Even after the offer, Yahoo executives have failed to find someone else to come in as a suitor at that price.  Yahoo’s executives need to realize they are overvaluing the company, instead of feeling Microsoft is undervaluing it.

Over the past 3 months, over 200,000 jobs have been lost including a higher than expected 80,000 in March.  A sign that the economy has started heading in reverse.  The economy and recession fears are pushing companies to get prepaired for the downturn in the economy.  The biggest unanswerable question is, how bad will the recession be?  With the crashing of the housing bubble, increase in job losses, and a 30% jump in bankruptcy filings in March, it’s looking like it could give a rough forward economic forcast.

While gold is down from it’s $1,000 per ounce highs, it continues to be very high priced.  Over the past couple years the price of gold has risen about 70%.  People are starting to realize the value of the old junk gold sitting in a drawer or attic.  TV is starting to bombard people with mail in gold kits, and the biggest thing since tupperware parties is now becoming gold parties.  Women are getting their friends together for some chitchat, snacks, fun, and selling their old junk jewelry to the companies that run these gold parties.