General Electric (GE) closed at $10.10
down 8 cents and it made a new
multi-year low.
It's the first time it's been below ten dollars in 8 or 9 years. The reason that GE got clobbered
by 9 percent yesterday was because they
had announced the evening before that
they were eliminating their dividend and
so obviously GE is a lot less valuable
when it can't pay a dividend.