Microsoft to Congress: Please get it together, you're making us nervous
Turns out the tech industry is not immune from the Wall Street meltdown. Apple stock dropped 16 percent yesterday. RIM, Google, Nokia and Yahoo share prices also saw double-digit drops. Yahoo shares hit a five-year low, down 10.8 percent to $16.88. Microsoft shares stayed less than five percent below the markets open until Congress failed to pass a bailout plan. The closed at $25.01, down 8.7 percent. The drop seems to have panicked Microsoft a bit, which did the only thing it could do when there was nothing for it to do: issue a statement. "Microsoft strongly urges members of the U.S. House of Representatives to reconsider and to support legislation that will re-instill confidence and stability in the financial markets," said Brad Smith, Microsoft's top lawyer. "This legislation is vitally important to the health and preservation of jobs in all sectors of the economy of Washington State and the nation, and we urge Congress to act swiftly." If it would help, we're certain Mr. Smith is willing to promise a cherry on top.