Questions of conflicts of interest are continuing to haunt the North Dakota policymakers who are involved in the burgeoning oil industry. Inquiries into the issue have been spawned by the governor’s ownership of oil stocks and the previous industry connections of Lynn Helms, director of the state Department of Mineral Resources.
When an oil company wanted to drill for oil near a beloved North Dakota landmark, it brought to light a possible ethical question for Gov. Jack Dalrymple. Dalrymple owns stock in ExxonMobil, the parent company of XTO, which applied for a permit to drill near a ranch once owned by Teddy Roosevelt.
Four years ago, as a newly elected president began his efforts to rescue the economy and strengthen the social safety net, conservative economic pundits — people who claimed to understand markets and know how to satisfy them — warned of imminent financial disaster. Stocks, they declared, would plunge, while interest rates would soar.
Strong earnings from tech giants nudged the stock market to a five-year high Wednesday. Investors drew encouragement from a vote by the House of Representatives to let the government keep paying all of its bills for another four months.
Facebook's stock plunged to a new low Thursday as some of the social networking leader's early backers got their first chance to sell their shares since the company's initial public offering went awry.
Barbara Ortutay and Michael Liedtre
, August 16, 2012
Facebook's stock has plunged after the IPO. It fell $1.09, or 3.2 percent, to $32.94 in late morning trading Tuesday, after dropping as low as $30.98 earlier in the day. The latest price is 13 percent below the IPO price of $38 and values the company at about $91 billion.
Barbara Ortutay and Pallavi Gogoi
, May 22, 2012
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