January has not begun well. As consumer confidence fades, more jobs are lost daily. Two days ago, major announcements came from at least 7 companies that more jobs would be cut, so many job cuts that the media dubbed this past Monday "Bloody Monday". Caterpillar, Pfizer, Sprint-Nextel, Home Depot, Texas Instruments, and ING are just some of the companies who announced job cuts in the thousands.
Home values keep dropping and almost every American is afraid for their job - if they still have a job.
Store closings continue. The upcoming vacation season looks pretty bleak although Pollyannas in formerly prime vacation resort towns like Branson, MO refuse to see the handwriting on the wall. The closing of theme park Celebration City with little warning last fall, the end of the Grand Palace, armed robbery at a local pretzel shop, store closings at the famous outlet malls (Oneida, Famous Footwear), and a decline in tourism last year fail to dampen the optimism of some Branson business owners. Of course, it is a futile effort to fight against despair. Even original theme park giant Silver Dollar City has extended their deadline for the best value on season passes and is offering a "free" magazine subscription with every pass ordered! Wow....sure makes families who are cutting back want to buy those expensive passes just so they can get a magazine in the mail!
Job markets are tight and growing tighter.
I wish that President Obama - who is working hard to do something to help the economy - would realize that the economic stimulus that would help would be to put the money in the hands of the American people. Spend some of those billions giving money to us working folks and we'll spend - we'll pay off bills, buy clothing and shoes, splurge on a long-desired television or stereo, go out to eat, see a movie, and more.
Wednesday, January 28, 2009
Friday, January 23, 2009
Outlook: Bleak
The outlook continues to be bleak as 2009 moves to the end of the third full week this month. Earlier this month, I decided that this year sucks and it does, in more ways than one. On a personal level, my world has been rocked by the sudden and unexpected death of my father.
On a national level, despite the encouraging hope I feel because President Obama is firmly entrenched at The White House, shirt sleeves rolled up and working hard, the outlook is bleak.
There will be no Air Fest in Joplin, Missouri this year. Nor will St. John's Regional Medical Center host their annual Blast From The Past this year, citing economic reasons.
Missouri Southern State University (my alma mater) as well as Pittsburg State University are both enacting budget cuts. No more child care center at MSSU, farewell to the men's soccer team, and a hiring freeze is in effect.
Public schools are tightening budgets as well.
In the broader world, our nation is saying good-bye to Circuit City, to Meryvn's, and to Linens 'N Things. In an article on Forbes.com, money gurus predict that 2009 will see more businesses closing their doors. They list Lane Byrant, Starbucks, and The Gap as in trouble. Chains at risk include Eddie Bauer, Pacific Sunwear, and jewelry giant Zales. One went so far as to suggest that it was possible that Sears-K-Mart might not survive the year.
Filene's, founded in Boston back in 1908, is closing down eleven stores nationwide, limiting the "running of the brides" for bargain basement prices on wedding gowns to fewer locations.
Job cuts are coming for Microsoft, Xerox, Harley-Davidson, and many more.
Bad news for clothing retailers and manufacturers - one third of U.S. women have no plans to buy clothing this year, apparently making do with what is already in the closet and dresser drawers.
Sony posted their first loss since 1995.
The jobless rate continues to soar with a current unemployment rate of 7.2, a rate actually higher if those who lost full-time work but replaced it with part-time jobs because that is all they could find are added in, it grows to 13.5%.
524,000 jobs were lost in December 2008 alone.
I go shopping at local small town retailers and find myself all but alone in the wide aisles.
Americans are driving less; I saw this fact confirmed on CNN yesterday but I have seen it, day after day as traffic grows lighter.
The restaurants, both chain and local, are empty and some are struggling to fill the void with dollar menus and specials.
The outlook for this year is bleak but with Obama at the helm, I have some hope although I don't expect a quick fix. He is, after all, President, not Superman!!
On a national level, despite the encouraging hope I feel because President Obama is firmly entrenched at The White House, shirt sleeves rolled up and working hard, the outlook is bleak.
There will be no Air Fest in Joplin, Missouri this year. Nor will St. John's Regional Medical Center host their annual Blast From The Past this year, citing economic reasons.
Missouri Southern State University (my alma mater) as well as Pittsburg State University are both enacting budget cuts. No more child care center at MSSU, farewell to the men's soccer team, and a hiring freeze is in effect.
Public schools are tightening budgets as well.
In the broader world, our nation is saying good-bye to Circuit City, to Meryvn's, and to Linens 'N Things. In an article on Forbes.com, money gurus predict that 2009 will see more businesses closing their doors. They list Lane Byrant, Starbucks, and The Gap as in trouble. Chains at risk include Eddie Bauer, Pacific Sunwear, and jewelry giant Zales. One went so far as to suggest that it was possible that Sears-K-Mart might not survive the year.
Filene's, founded in Boston back in 1908, is closing down eleven stores nationwide, limiting the "running of the brides" for bargain basement prices on wedding gowns to fewer locations.
Job cuts are coming for Microsoft, Xerox, Harley-Davidson, and many more.
Bad news for clothing retailers and manufacturers - one third of U.S. women have no plans to buy clothing this year, apparently making do with what is already in the closet and dresser drawers.
Sony posted their first loss since 1995.
The jobless rate continues to soar with a current unemployment rate of 7.2, a rate actually higher if those who lost full-time work but replaced it with part-time jobs because that is all they could find are added in, it grows to 13.5%.
524,000 jobs were lost in December 2008 alone.
I go shopping at local small town retailers and find myself all but alone in the wide aisles.
Americans are driving less; I saw this fact confirmed on CNN yesterday but I have seen it, day after day as traffic grows lighter.
The restaurants, both chain and local, are empty and some are struggling to fill the void with dollar menus and specials.
The outlook for this year is bleak but with Obama at the helm, I have some hope although I don't expect a quick fix. He is, after all, President, not Superman!!
Wednesday, January 07, 2009
Not Such A Happy New Year 2009
While I would like to wish all a happy new year, it doesn't seem very possible. On a personal level, I have no doubt that many of us will find happiness and pleasure in many, many ways but on the economic level of our lives, the outlook is bleaker than ever.
Just as I expected, once the false rush of holiday shopping faded away, things out there are slow. No one that I know spent as much on Christmas this year, choosing simple over expensive and returning to the time tried and true maxim, "It's the thought that counts."
Last evening's local paper was filled with signs of the times. Magic Moments, a riding therapy program, is on the verge of closing due to a sharp drop in contributions, the fuel that kept the organization going. Another article - national, not local -bemoaned the fact that churches and charities are suffering because people have less to give and are giving less. An article with our local state rep warns of budget cuts to come because the state has no money. Neither does the city government of the town where I live.
Help Wanted columns have dwindled to almost nothing. Most days, in the local paper, an ad to start selling Avon (which I doubt many people are buying) for $10 upfront investment is the one and only employment ad.
I made a quick dash to the local Wal-Mart Super Store on Monday for folders for one of my kids' school projects and found the store empty. It was almost eerie....entering by the front grocery entrance I could look to the back of the store without seeing a single other shopper. In the garden center, they still have Christmas decorations, cards, and paper stacked to the ceiling, still not moving much at 75% off. Today at the Dollar General, the same held true. Few people are shopping and those few are buying necessities only.
Just as I expected, once the false rush of holiday shopping faded away, things out there are slow. No one that I know spent as much on Christmas this year, choosing simple over expensive and returning to the time tried and true maxim, "It's the thought that counts."
Last evening's local paper was filled with signs of the times. Magic Moments, a riding therapy program, is on the verge of closing due to a sharp drop in contributions, the fuel that kept the organization going. Another article - national, not local -bemoaned the fact that churches and charities are suffering because people have less to give and are giving less. An article with our local state rep warns of budget cuts to come because the state has no money. Neither does the city government of the town where I live.
Help Wanted columns have dwindled to almost nothing. Most days, in the local paper, an ad to start selling Avon (which I doubt many people are buying) for $10 upfront investment is the one and only employment ad.
I made a quick dash to the local Wal-Mart Super Store on Monday for folders for one of my kids' school projects and found the store empty. It was almost eerie....entering by the front grocery entrance I could look to the back of the store without seeing a single other shopper. In the garden center, they still have Christmas decorations, cards, and paper stacked to the ceiling, still not moving much at 75% off. Today at the Dollar General, the same held true. Few people are shopping and those few are buying necessities only.
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