February: Exxon Mobil's earnings of $40.61 billion in 2007, as oil prices soared, are the largest annual profit in U.S. corporate history.
Congress approves a $168 billion ecoomic stiumlus plan for over 130 million households to get tax rebate checks of $300 to $1,200.
General Motors says it ended last year $38.7 billion in the red.
Crude oil prices finish just above $100.
March: Bear Stearns sells itself to J.P. Morgan Chase.
April: GM, Toyota, Ford and Chrysler post double digit drops in U.S. car sales.
May: American International Group (AIG) posts a record $7.8 billion first quarter loss.
Corn prices are forecast to stay at records into 2009 amid a shrinking U.S. corn crop and rising demand by the ethanol industry.
June: Crude oil jumps $11 to $138 a barrel. The Dow drops 395 points to 12209. The average price of gasoline hits $4 for the first time. Lehman Brothers posts a $2.8 billion quarterly loss.
July: The Dow drops 167 points to 11215.
September: Investors cheer U.S. seizure of Fannie Mae and Freddie Mac. The Dow rises 290 to 11510.
China announces a $586 billion stimulus package.
December: A rise of over 39% is reported in murders of African American teens since the two-year period of 2000-2001.
(The Wall Street Journal, 1/2/09)