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Data showing a slump in consumer confidence and new home sales raised the specter of a severe economic downturn and drove the Nasdaq Composite Index down more than 4 percent Tuesday. The tech-heavy index sank 100.68 points, or 4.36 percent, to finish at 2,207.82, its lowest close since Jan. 3, 1999.The Dow Jones industrial average inched down 5.65 points, or 0.05 percent, to end at 10,636.88. The broader Standard Poor s 500 Index declined 9.71 points, or 0.77 percent, to 1,257.94, within flirting distance of a two-year low.Tech stocks remained under pressure Tuesday as investors punished stocks they feared w
stanley cup ould perform poorly in a weak economy.Some of the biggest losers: JDS Uniphase, which tumbled $4.81 to $27.81, and Cisco Systems, which fell $2.06 to $24. The Dow was also hurt by losses in its technology components, including IBM, off $2.71 at $102.59, and Hewlett-Packard, down $1.40 at $28.60.Brorson, the Northern Trust analyst, said the hemorrhaging reflects the fact that many tech stocks are still pricey, even when the sharp declines of the last six months are considered. Some of these stocks are still trading at a price that s 57 times the current year s earnings, he said. That s expensive. The data showing consumer co
stanley cup nfidence at a four-year low stoked expectations for more interest-rate cuts by the Federal Reserve, but the latest economic numbers also prompted speculation about whether the rate cuts will arrive in time to prevent a more prolonged
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Almost all early sawmills utilized water power to drive their sawblades, and were therefore located on riverbanks. This made delivering wood a breeze鈥攋ust chop down a patch of timber upriver, push the felled logs into the water, and float them down to the mill. In narrow stretches of water, the logs could be pushed down individually, in wider stretches they could be lashed together into sturdier rafts. And on Russia Volga and Vetluga rivers, they were assembled into giant inverted pyramids and loaded onto massive barges like these. Known as Belyana, these ships were part of large-s
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stanley mugg le logging operations along the Volga and Vetluga rivers at the turn of the 20th century. They often measured in excess of 328 feet 100 meters long, 19 feet tall 6 meters , and 82 feet 25 meters wide. These giant boats had little trouble hauling 5,000 tons of lumber 13,000 individual logs at a time. They were const
stanley mugs ructed from the fir and pine logs they were built to ship. In fact, the name Belyana means made of white wood and is derived from the white color of the debarked logs that went into their construction. Incredibly, assembling the earliest iterations of these river ships didn ;t even require nails. The logs that were to be shipped were first loaded on and lashed together into a widening platform. This was done to allow the crew access to the bottom of the boat in the event of a leak, which happened pretty much constantly. Anywhere from 13 to 80 men wou
