The Federal Housing Financial Agency reported home prices reached their lowest point in nearly six years. For the twelve months ending in July, the drop was 3.3% compared to the same period a year earlier. The news set a negative tone, and the market was down all day.

Worried investors poured money into gold after a Fed report yesterday showed worrisome data on the economy. The metal hit $1,290 an ounce and may stay in all-time high record territory if fears about GDP expansion spread. Although it was a down day, the markets showed little damage at the close.

Today's closing bell numbers:

Dow Jones 10,739.31 -21.72 (-0.20%)
S&P 500 1,134.27 -5.51 (-0.48%)
Nasdaq 2,334.55 -14.80 (-0.63%)

Earlier today, Jonathan Berr noted that the Golden Globes broadcast on General Electric Company (NYSE: GE)'s NBC Network had been canceled. Yes, it's a shame we at home won't be able to comment on the fashions and root for our favorites. Yes, it's a shame for the struggling Peacock network (still often in fourth place) to miss out on the ratings and ad revenue easily procured from a red-carpet event. NBC shells out $5-6 million a year for the broadcast rights and can count on $15-20 million in ad revenue as a result. But yes, it's a testament to the power held by the Writers Guild of America.

Unfortunately, not everyone is giving the Guild its due respect. NBC Entertainment co-chief Ben Silverman aired his grievances about the Golden Globes debacle in a very public forum, speaking with EI Entertainment News anchor Ryan Seacrest. According to the cable network's website, Silverman said "It feels unfair" that United Artists and David Letterman's Worldwide Pants have brokered deals with writers, but Dick Clark Productions (the Globes' producer) is not being given the same option.

SIlverman opined that: "Sadly, it feels like the nerdiest, ugliest, meanest kids in the high school are trying to cancel the prom. But NBC wants to try to keep that prom alive."

Wow. Is it me, or did a top-ranking NBC executive call the Writers Guild ugly, mean nerds? The man's company is out a cool 10 or so million, but the decision has now been made and should be dealt with. Be careful, Ben, or you're going to get a prom like the one Carrie White attended.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.

Hollywood awards ceremonies usually have plenty of drama -- who shows up with who, who's wearing what, celebrity feuds and, to a lesser extent, who actually wins the awards.

But the 65th annual Golden Globe awards slated for January 13th could take on a whole new level of controversy. As Hollywood's elite make their way onto the red carpet, there could be thousands of striking writers there holding signs, chanting and just generally making things very awkward. There is even speculation that the award show's broadcast could be canceled or shifted to a webcast. But labor officials say they would picket even a webcast version because Dick Clark Productions is set to produce the event.

According to the New York Times, "Panicked at the prospect of having to confront strikers as they waltz up the red carpet, celebrities have sent what Hollywood publicity executives describe as a near-unanimous signal: If striking writers show up, the stars won't."

Going for a classy private affair devoid of television cameras seems like a great way to go for the ceremony. Hollywood could avoid the potential disaster of a televised protest and an awards ceremony that isn't broadcast into every home would be kind of nice -- might actually restore some of the glamor and intrigue of the cinema.

As one of the stars of Grey's Anatomy, one of the most popular shows on television in the past year or so, Isaiah Washington seemed to have it pretty good -- until an incident in October of 2006 in which he reportedly used a homophobic slur against a fellow castmate. Still, he apologized (at the prompting of Touchstone Television) and underwent anger counseling. It might have been but a minor bump in Washington's career had he not continued to antagonize fellow cast members by such things as his flippant remarks about the incident at the Golden Globe Awards ceremony in January of 2007.

Still, he went back to work on the hit show, amid speculation that the incident would influence impending salary negotiations. But by June ABC had had enough and cut Washington loose. Further accusations flew, and Washington threatened to sue, to leave the country to dedicate himself to charity work, and to focus solely on a career in independent film.