What changes are you making due to economy?

[tony404]

Interesting article
http://www.nytimes.com/2008/10/06/bu...nted=1&_r=1&hp

[Hell Puppy]

Originally Posted by tony404

Interesting article
http://www.nytimes.com/2008/10/06/bu...nted=1&_r=1&hp

Could be a bad holiday season for retailers.

I also would not want to be a car dealer right now. Word from people I know in that business is not only are sales off due to fear of the economy. Even segments that were doing well, such as econoboxs, are now in trouble.

People want to trade in their gas guzzlers, but that market is already flooded and you cant give away something like a full sized truck or SUV. Now on top of that you have the credit issues.

Loans are not being approved with negative equity rolled into them even for someone with good credit. There's no guarantee you'll get approved even with a credit score over 700 unless you put a little something down. The banks are protecting themselves against a loss in case they have to repo. Loans are totally defensive right now, very little speculation as they try to hold their head above water.

[Hell Puppy]

Another thing I'm wondering...

How will the economy impact the January shows in Vegas?

If you go for AEE, that's a hell of an expense. Airfare is high due to fuel, and because that show is head up with CES the hotel rates are generally in the $300 per night neighborhood unless you room with GonZo down at Terribles (it's not just a name it's a description).

And unless you're on the Anal Hobbit plan, Vegas is not longer a cheap place to eat. The good dinner buffets are $30 and up. And a really good meal such as Delmonico is gonna tip in at $100 a head.

Speaking of which, we need to find Trish again, she's a cheap date...Fat Burger!!

[tony404]

Originally Posted by Hell Puppy

Could be a bad holiday season for retailers.

I also would not want to be a car dealer right now. Word from people I know in that business is not only are sales off due to fear of the economy. Even segments that were doing well, such as econoboxs, are now in trouble.

People want to trade in their gas guzzlers, but that market is already flooded and you cant give away something like a full sized truck or SUV. Now on top of that you have the credit issues.

Loans are not being approved with negative equity rolled into them even for someone with good credit. There's no guarantee you'll get approved even with a credit score over 700 unless you put a little something down. The banks are protecting themselves against a loss in case they have to repo. Loans are totally defensive right now, very little speculation as they try to hold their head above water.

Unless a miracle happens I see this being a very bad christmas for retailers. When I worked at a music store,the holiday shopping season represented between 70 to 80 percent of their year.So that's going to be scary for them.