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October 14, 2008

Maine stocks get a beating

Maine stocks have not been immune to the shocks that plunged the Dow Jones industrials and Standard & Poor's 500-stock index into a precipitous slide last week. Monday, however, the markets made a historic leap, before fluctuating down again Tuesday morning.

Unum Group, which employs 3,200 people in Maine and is based in Chattanooga, Tenn., started last week at $22.78 per share and dropped nearly 28% by the end of last week, the Portland Press Herald reported. Fairchild Semiconductor, a computer chip maker with about 1,025 people at a production facility and headquarters in South Portland, closed Friday at $6.37 after hitting a peak on Aug. 15 at $13.95, the paper reported.

South Portland-based Wright Express, a fleet-management company with about 600 employees in Maine, was trading at $40.82 on Nov. 14 last year, according to the paper. It closed at $21.20 on Friday. General Dynamics Corp., which employs 6,000 workers at the Bath Iron Works shipyard and General Dynamics Armament Systems plant in Saco, was trading at a high of $94.01 on Aug. 28. It closed Friday at $57.39

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