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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.
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Friday, May 16, 2008
$12 Million Verdict Leads to Settlement Between Asbestos Victim and Garlock Sealing Technologies
Comtex
PHILADELPHIA, May 16, 2008 /PRNewswire via COMTEX News Network/ ----The law firm of Baron & Budd, P.C. today announced that mesothelioma sufferer James Grumley and his family have settled with former asbestos manufacturer Garlock Sealing Technologies (based in Palmyra, NY) for a confidential amount following a jury verdict of $12 million in damages. Grumley contracted mesothelioma -- an excruciating and fatal cancer associated with asbestos exposure -- after working for decades as a boiler mechanic at a Johnsonburg paper mill.
"Jim Grumley's cancer was entirely preventable. Asbestos was just too profitable for Garlock. The worst thing about it is that instead of promptly eliminating asbestos from their gaskets and packing once they knew what asbestos could do, Garlock chose to spend decades devising ways to cover up the cancers its asbestos products cause," said Baron & Budd attorney John Langdoc. Langdoc and colleagues Ryan Leggiero and Melissa Fair tried the case on behalf of the family.
The irreversible harm done by years of exposure to the paper mill's boilers, which were covered in asbestos cement, and to asbestos gaskets and asbestos rope packing that were used on turbines and steam pipes became apparent in 2006 when Grumley was diagnosed with malignant pleura mesothelioma.
Mesothelioma is a painful and deadly cancer that encases the lining around the lungs, called the pleura, and turns it from a single cell layer wide to a thick, hard rind. This inhibits the expansion of the lungs, making it difficult to breath and causing the nerve endings to scrape torturously against the hard lining. In some cases, the growing tumor can encase and fracture the spine, or it can surround and strangle the heart, as it has done in Grumley's case.
Prior to contracting mesothelioma, Grumley, now 84, played sports with his grandchildren and shared his love of athletics, music and dancing with his wife of 55 years, Pat Grumley, and their children Cindy, Bob and Jim. He was the first member of his family to see his children go to college, and they are now teachers and principals.
"It breaks my heart because he did everything right," said his son Bob. "He raised us, he educated us, he labored for us. He did everything right and he shouldn't have to go through what he's going through. No man, no person should have to go through what's facing him."
About Baron & Budd, P.C.
Since 1977, the law firm of Baron & Budd, P.C. has championed the rights of people and communities harmed by corporate misconduct. With more than 40 attorneys and offices in Texas, California, and Louisiana, Baron & Budd enjoys a national reputation as a leader of the plaintiffs' bar. The firm represents individuals with mesothelioma and other diseases caused by asbestos; leukemia caused by benzene; injuries caused by other toxic substances and unsafe pharmaceuticals; water authorities seeking clean-up costs for drinking water contamination; securities investors defrauded by corporate wrongdoing; and consumers in class actions.
CONTACT: Susan Knape of Baron & Budd, P.C. 214-523-6226
SOURCE Baron & Budd, P.C.
http://www.baronandbudd.com/
Copyright (C) 2008 PR Newswire. All rights reserved
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