FOX Translator
No data currently available.
No data currently available.
Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
Home / Markets / Industries / Finance
Friday, June 27, 2008
Labor Dispute Looms For Chicago-Area Funeral Home Employees
Comtex
CHICAGO, June 27, 2008 /PRNewswire-USNewswire via COMTEX/ ----Talks with SCI Deadlocked as Contract Deadline Approaches
Area funeral home employees face a work interruption soon as contract talks were deadlocked Friday with their employer, Service Corporation International.
The profitable company is demanding drastic concessions from employees of its Alderwoods Group Inc. The employees, who are represented by Teamsters Local 727, are being asked to take a 20 percent pay cut.
"There's only one reason a profitable, growing company to demand a 20 percent pay cut from its loyal employees," said Teamsters Local 727 Secretary-Treasurer John Coli. "Pure, unadulterated corporate greed."
Service Corporation International (NYSE: SCI) chief executive Tom Ryan took home $6.4 million last year, according to the Securities and Exchange Commission.
"We're hoping for a show of conscience by SCI management, but we are not optimistic at this late hour," Coli said. "Unless they change their attitude, they will inflict anguish on their employees, communities and families.
"Fortunately, we know we have the strong support of our communities and our clergy, no matter what happens," Coli said.
A strike could have repercussions beyond the 25 employees at the six Alderwoods homes in Chicago, Stickney, Wilmette, Des Plaines and Arlington Heights. The area's 82 Service Corporation International employees would not have to cross Alderwoods picket lines under their current contract with the Teamsters.
The contract between the Teamsters and SCI expires on June 30 at midnight. Management has proposed that talks reconvene Monday afternoon to discuss final offers. Little progress has been made, even on minor non-economic issues.
The homes are: Mt. Auburn in Stickney, Oehlers Arlington Heights, Oehlers Des Plaines, Weinstein-Devon in Chicago, Weinstein-Wilmette and Zefran in Chicago.
Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women in the United States, Canada and Puerto Rico.
SOURCE International Brotherhood of Teamsters
http://www.teamster.org
Copyright (C) 2008 PR Newswire. All rights reserved ********************************************************************** As of Monday, 06-23-2008 23:59, the latest Comtex SmarTrend� Alert, an automated pattern recognition system, indicated an UPTREND on 04-29-2008 for SCI @ $10.91. For more information on SmarTrend, contact your market data provider or go to www.mysmartrend.com SmarTrend is a registered trademark of Comtex News Network, Inc. Copyright � 2004-2008 Comtex News Network, Inc. All rights reserved.
Market Snapshot
| Symbol | Last Price | Netchange | Volume |
|---|---|---|---|
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
| -- | -- | -- | -- |
