Business Report: 1/7/15 - Crisis at a glance - Hawaii News Now - KGMB and KHNL

Business Report: 1/7/15 - Crisis at a glance

HONOLULU (HawaiiNewsNow) -

It's time for Crisis at a Glance!!!

It's good news when the Dow soars, bad news when it plunges.

Right? Who SAYS?

Here's who: reporters covering stocks for investors. Working on Wall Street, they totally buy into the idea that more is better.

Well, not always.

The Dow fell 331 points yesterday on worries about falling oil prices. But so what? Boeing had a record year. JCPenney holiday sales rose almost 4%. Plenty of companies are doing fine. Most LIKE cheaper oil. It's good for you. It's good for Matson. It's good for Hawaiian Airlines. It's good for Roberts Hawaii. It's good for cab drivers. It's even good for our refineries buying crude on the open market.

It's true that Exxon is down 3% and Chevron is down 4%. Now they're only making a gazillion dollars. Don't cry for them, they'll be fine. And you'll be better, because of the very thing that sent the Dow into a tailspin.

And that's Crisis at a Glance!!!

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