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The following article was published in our article directory on March 1, 2012.
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The Top Business News for the Decade

Article Category: Business

Author Name: chickie maxwell

From the bust of the energy tycoon Enron to mobile devices, there are so many business news that shook the world tremendously for this decade. So what are the top 3 business related news for the past 10 years? If you want to know about these big business news, read on.

Big businesses file for bankruptcy

Three big companies, seemingly industry leaders in their fields, filed for bankruptcy. The first one, and the most scandalous at that, was Enron. The previous Fortune 500 company previously held a huge stake in the North American energy industry. However, on 2001, it was revealed that the company did accounting "magic" to keep under wraps billions of debt from its shareholders.

The second company that also had accounting fraud to blame is WorldCom. This telecom company inflated its assets incorrectly. In the end, its CEO and CFO alike were charged and sentenced to spend years in prison.

Another bankruptcy was filed by Lehman Brothers Holdings, a Wall Street magnate that crashed due to the subprime mortgage crisis, being bogged down by a huge number of unsellable real estate.

The Great Recession

Also known as the Long recession, this global economic issue began in the 4th quarter of 2007, which was also connected to the subprime mortgage crisis. It began with this crisis, with more and more financial institutions irresponsibly granting loan after loan, using real estate as collateral. The overall recession resulted to lowered trade globally, increase in the unemployment rate and drop in the prices of necessities.

Connected to the Great Recession was also a drop in the Dow at a level of around 10,000 points. When the market learned of the information that the US government did not pass the bailout plan budget, investors started selling their stocks like hot potatoes. People no longer thought about what they had or how much they will lose if they sold, they just kept on selling during this time. Approximately $1,200,000,000,000 was lost in market value during September of 2008.

Mobile devices dominate

From the iPod being introduced in 2001, to the iPhone in 2007, to BlackBerry in 2003 these mobile devices infiltrated everyone's lives tremendously. Kids from all ages wanted to have the newest version of the iPod while businessmen from all around the globe could not live without their "Crackberry." These devices overhauled our way of enjoying life in a mobile world.

There are so much more that happened business-wise for the past 10 years but these stories take the cake. These topics may all be business news but they surely are worth gossiping about.

Keywords: business news

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