Dow Jones Achieves 51st Record of 2013; ACA Hits Midsize Businesses Hard
The Dow Jones hits its 51st record close of the year while the S&P 500 and Nasdaq end the day down. As the new health care plans are set to roll out in 2014, many state that midsize business are going to be hit the hardest by the Affordable Care Act. Midsize businesses are forced to provide health care for all full time employees. While this mandate won't go into affect until 2015, many companies are bracing for it and can see that it is going to cost them a lot more than they were hoping. Cooper Tire & Rubber Co. (CTB) is no longer moving forward with selling itself to India's Apollo Tyres for $2.2 billion.Copper states that Apollo breached terms of their agreement. After selling over 2.4 million vehicles in 2013 Ford (F) expects to retain its title as North America's best-selling vehicle brand and defeat Toyota (TM) for a second year straight. Just after it was released that Blackstone (BX) will be bailing out Crocs (CROX) for $200 million, Croc's CEO announced that he will be retiring.
Word on the Street
- Over 1 million people have signed up for federal health insurance.
- What we should expect from stocks in 2014.
- Samsung selling 110-inch TV for $150,000.
- Facebook (FB) attracting a new audience...senior citizens.
- Blackberry (BBRY) believes BBM will bring them revenue in the future.
- 13 states to see minimum wage increases in 2014.
- Blackstone (BX) to acquire 13 percent stake in Crocs.
Published on Dec 30, 2013By InvestorGuide Staff