Advertising
(MarketWatch) -- Ad-supported media will see a 14% decline in advertising revenue this year, the ad buying agency Magna said Monday, but there is room for optimism.
Magna, a division of Interpublic's Mediabrands, said the ongoing economic crisis triggered last September will continue, as ad revenues drop to $161 billion from $189 billion in 2008.
"The first half of 2009 will likely turn out to be the worst period of this recession, during which time Magna estimates ... advertising revenues will have fallen by 18% vs. the same period in 2008," the company said.
http://www.marketwatch.com/story/magna-sees-ad-revenue-declining-14-in-09
Fastenal
WINONA, Minn., July 13, 2009 The Fastenal Company of Winona, MN (Nasdaq:FAST - News) reported the results of the quarter ended June 30, 2009. Except as otherwise noted below, dollar amounts are in thousands.
Net sales for the three-month period ended June 30, 2009 totaled $474,894, a decrease of 21.4% from net sales of $604,219 in the second quarter of 2008. Net earnings decreased from $76,166 in the second quarter of 2008 to $43,538 in the second quarter of 2009, a decrease of 42.8%. Basic and diluted earnings per share decreased from $.51 to $.29 for the comparable periods.
http://finance.yahoo.com/news/Fastenal-Company-Reports-2009-pz-293310524.html?x=0&.v=1
Fastenal is a key supplier to construction and industrials. If FAST is slow, you know the landscape of the industrial flow.
NEW Housing sales DOWN 80%.
NEW Auto dales DOWN over 50%.
DELL's revenues DOWN over 20% y/y.
CSX's revenues DOWN over 20% y/y.
Housing, Autos, Airlines, Advertising, Media, Hotels, Technology, Transportation...
industry after industry now reporting double digit sales declines, a couple years in a row in some cases, leaving little room for doubt that our economy entered into a depression sometime in the second quarter of this year(backing out deficit government spending of course).
My guess is in a relatively short period of time, the "economists" will stop smoking the green shoots and actually realize what is happening in the real world by collectively calling a DEPRESSION months after it happened.
Monday, July 13, 2009
Sunday, July 12, 2009
Are Economists Smoking Green Shoots?
From Bloomberg Today:
July 12 (Bloomberg) -- Retail sales in the U.S. probably increased in June for a second straight month and factory production fell at a slower pace as the recession abated, economists said before reports this week.
Sales gained 0.4 percent after a 0.5 percent increase in May, according to the median estimate in a Bloomberg News survey before the Commerce Department’s report on July 14. The next day, Federal Reserve figures may show industrial output fell 0.6 percent last month after a 1.1 percent drop in May.
Consumers are venturing back into stores, seeking discounts and favoring necessities such as food or fuel. Even as the projected increase in sales and reports this week on housing may show the worst of the downturn has passed, a turnaround is likely to be gradual.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXQT1NGik0a0
Confirmation from MarketWatch:
On Tuesday the Commerce Department will report retail sales for June, and economists polled by MarketWatch are looking for a gain of 0.5%, matching the prior month's result.
http://www.marketwatch.com/story/job-concerns-expected-to-weigh-down-retail-sales
That is TWO sources where Economists are calling for HIGHER June numbers!
Vs. CNN LAST WEEK!!!!!!!!!!!!!!!!!!!!!!!!
(CNNMoney.com) -- It looks like Americans still aren't in the mood to splurge at the mall.
Several of the nation's leading retail chains reported Thursday that their same-store sales declined again in June.
The reports raise questions about whether the government's effort to use stimulus spending to boost consumer spending is working.
Sales tracker Thomson Reuters, which tracks monthly same-store sales for 30 chains such as Target (TGT, Fortune 500), Gap Inc. (GPS, Fortune 500) and J.C. Penney (JCP, Fortune 500), said overall June sales for the group fell 4.9%, compared to a gain of 1.9% last June.
It marked the 10th-straight monthly decline for that index, which measures sales at stores open at least a year. That's worrisome because consumer spending fuels two-thirds of all economic activity.
http://money.cnn.com/2009/07/09/news/economy/retailsales_June/index.htm?source=yahoo_quote
Confirmation from Thestreet.com:
It was a mess of a month (or, should we say, a miss of a month) for retailers, with at least a dozen of the retailers reporting June same-store sales on Thursday missing expectations. Overall June same-store sales tumbled 5.1%, according to the International Council of Shopping Centers.
http://www.thestreet.com/_yahoo/story/10538701/1/june-retail-sales-a-mess-of-misses.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
You just can't make this stuff up:
Sales gained 0.4 percent Vs. June sales for the group fell 4.9%
OR
Consumers are venturing back into stores... Retail sales in the U.S. probably increased in June Vs. Americans still aren't in the mood to splurge...It marked the 10th-straight monthly decline for that index
If the Commerece Department's report shows a rise in June's retail sales, you have to question the data....since almost every retailer reported declining June sales last week. If it doesn't show an increase, you have to question sobriety of the surveyed economists.....could it be Scott Grannis and his buddies?
July 12 (Bloomberg) -- Retail sales in the U.S. probably increased in June for a second straight month and factory production fell at a slower pace as the recession abated, economists said before reports this week.
Sales gained 0.4 percent after a 0.5 percent increase in May, according to the median estimate in a Bloomberg News survey before the Commerce Department’s report on July 14. The next day, Federal Reserve figures may show industrial output fell 0.6 percent last month after a 1.1 percent drop in May.
Consumers are venturing back into stores, seeking discounts and favoring necessities such as food or fuel. Even as the projected increase in sales and reports this week on housing may show the worst of the downturn has passed, a turnaround is likely to be gradual.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aXQT1NGik0a0
Confirmation from MarketWatch:
On Tuesday the Commerce Department will report retail sales for June, and economists polled by MarketWatch are looking for a gain of 0.5%, matching the prior month's result.
http://www.marketwatch.com/story/job-concerns-expected-to-weigh-down-retail-sales
That is TWO sources where Economists are calling for HIGHER June numbers!
Vs. CNN LAST WEEK!!!!!!!!!!!!!!!!!!!!!!!!
(CNNMoney.com) -- It looks like Americans still aren't in the mood to splurge at the mall.
Several of the nation's leading retail chains reported Thursday that their same-store sales declined again in June.
The reports raise questions about whether the government's effort to use stimulus spending to boost consumer spending is working.
Sales tracker Thomson Reuters, which tracks monthly same-store sales for 30 chains such as Target (TGT, Fortune 500), Gap Inc. (GPS, Fortune 500) and J.C. Penney (JCP, Fortune 500), said overall June sales for the group fell 4.9%, compared to a gain of 1.9% last June.
It marked the 10th-straight monthly decline for that index, which measures sales at stores open at least a year. That's worrisome because consumer spending fuels two-thirds of all economic activity.
http://money.cnn.com/2009/07/09/news/economy/retailsales_June/index.htm?source=yahoo_quote
Confirmation from Thestreet.com:
It was a mess of a month (or, should we say, a miss of a month) for retailers, with at least a dozen of the retailers reporting June same-store sales on Thursday missing expectations. Overall June same-store sales tumbled 5.1%, according to the International Council of Shopping Centers.
http://www.thestreet.com/_yahoo/story/10538701/1/june-retail-sales-a-mess-of-misses.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
You just can't make this stuff up:
Sales gained 0.4 percent Vs. June sales for the group fell 4.9%
OR
Consumers are venturing back into stores... Retail sales in the U.S. probably increased in June Vs. Americans still aren't in the mood to splurge...It marked the 10th-straight monthly decline for that index
If the Commerece Department's report shows a rise in June's retail sales, you have to question the data....since almost every retailer reported declining June sales last week. If it doesn't show an increase, you have to question sobriety of the surveyed economists.....could it be Scott Grannis and his buddies?
Saturday, July 11, 2009
The FU Virus goes PRIME TIME
The mortgage default crisis has an ominous new face. It's your neighbor with a traditional fixed-rate loan.
No longer is the real estate bust simply the result of exotic, subprime loans that doubled payments and blew up in homeowners' faces. As the Sacramento economy buckles, even the safest mortgages have become part of a new wave of loan defaults, experts say.
With capital-area job losses reaching 45,000 in the past year and unemployment at 11.1 percent, lenders, bankruptcy attorneys and debt counselors all say they're seeing rising delinquencies among prime borrowers with fixed-rate loans and good credit.
http://www.sacbee.com/topstories/story/2017811.html
Any idiot could have seen this coming with the current ZOMBULATION POLICIES AND ZOMBATIC FALLOUT FROM THE ZOMBULATOR.
Soon the delinquinies will EXPLODE with hundreds of thousands facing massive wage cuts and furloughs in upcoming months.
THE FU VIRUS IS EVEN ATTACKING OUR UNIVERSITIES & COLLEGES!
Aspiring nurses, teachers and community college transfer students planning to enroll at Sacramento State in the spring may be forced to delay their education.
California State University officials announced this week that the 23-campus system will not accept applications for the 2010 spring semester, and campuses on the quarter system stopped taking applications for the winter term July 6.
....
"We're planning for the worst – that we're going to have to take that hit," said John Kepley, a Sacramento State spokesman. "But until they make that decision, all we can do is plan."
The admissions freeze is aimed at implementing $584 million in cuts to the CSU budget. CSU officials have set a two-year goal to reduce student enrollment by 40,000.
http://www.sacbee.com/topstories/story/2017614.html
The Zombulator is spreading the FU Virus across the nation. It is already at pandemic stage, now the only question is how many will be infected before the process plays out.
No longer is the real estate bust simply the result of exotic, subprime loans that doubled payments and blew up in homeowners' faces. As the Sacramento economy buckles, even the safest mortgages have become part of a new wave of loan defaults, experts say.
With capital-area job losses reaching 45,000 in the past year and unemployment at 11.1 percent, lenders, bankruptcy attorneys and debt counselors all say they're seeing rising delinquencies among prime borrowers with fixed-rate loans and good credit.
http://www.sacbee.com/topstories/story/2017811.html
Any idiot could have seen this coming with the current ZOMBULATION POLICIES AND ZOMBATIC FALLOUT FROM THE ZOMBULATOR.
Soon the delinquinies will EXPLODE with hundreds of thousands facing massive wage cuts and furloughs in upcoming months.
THE FU VIRUS IS EVEN ATTACKING OUR UNIVERSITIES & COLLEGES!
Aspiring nurses, teachers and community college transfer students planning to enroll at Sacramento State in the spring may be forced to delay their education.
California State University officials announced this week that the 23-campus system will not accept applications for the 2010 spring semester, and campuses on the quarter system stopped taking applications for the winter term July 6.
....
"We're planning for the worst – that we're going to have to take that hit," said John Kepley, a Sacramento State spokesman. "But until they make that decision, all we can do is plan."
The admissions freeze is aimed at implementing $584 million in cuts to the CSU budget. CSU officials have set a two-year goal to reduce student enrollment by 40,000.
http://www.sacbee.com/topstories/story/2017614.html
The Zombulator is spreading the FU Virus across the nation. It is already at pandemic stage, now the only question is how many will be infected before the process plays out.
Thursday, July 9, 2009
History Repeating Deja Vu All Over Again?
Click Picture for Larger View
1934 Chicago Tribune
The more that changes, the more things stay the same.
1934 Chicago Tribune
The more that changes, the more things stay the same.
Is America Shutting Down?
Schwarzenegger plans 20% pay cuts for hundreds of thousands of workers.
How many of those workers were even saving 10% of their incomes?
America is shutting down based on the current Zombulation policies.
Alcoa's sales are down OVER 40%.
Auto sales are down OVER 50%.
New home sales are down OVER 75%.
Country Clubs are shutting down.
Restaurants are shutting down.
Neighborhoods becoming ghost towns.
Shopping malls becoming ghost malls.
Box stores becoming ghost boxes.
Bank Closures growing rapidly.
Foreclosures so no sign of abating.
Loan defaults reaching new highs.
And here are some not so fun y/y retail numbers:
BJ's June same-store sales down 7.5%
Macy's same-store sales down 8.9% in June
Dillard's June same-store sales down 14%
Aloca sales down 41%
German exports fall 25 percent in May
Limited Brands June same-store sales fall 7.9%
The Limited June same-store sales down 12%
Children's Place June same-store sales down 12%
Destination Maturnity: June comp. sales down 10.7%
Costco June same-store sales fell 6%
Hot Topic June same-store sales down 7.9%
American Eagle June same-store sales down 11%
Gap June same-store sales down 10%
Abercrombie & Fitch same-store sales off 32%
Now even the homeless are getting kicked out of shelters:
A new tent city populated by about 100 homeless people along a Sacramento street has prompted a charity agency to propose that the city allow it to lease land to establish a legal place for those people and others to stay.
On Tuesday, Sacramento police told people staying in the encampment that they had three days to move to another site.
After the Cal Expo homeless shelter closed for budgetary reasons on July 1, the more than 200 homeless men, women and children were left without a legal place to reside, said officials with Volunteers of America, the charity that ran the shelter.
http://www.sacbee.com/topstories/story/2009685.html
What does it say about the state of the ecnomomy when the homeless have no place to say?
How many of those workers were even saving 10% of their incomes?
America is shutting down based on the current Zombulation policies.
Alcoa's sales are down OVER 40%.
Auto sales are down OVER 50%.
New home sales are down OVER 75%.
Country Clubs are shutting down.
Restaurants are shutting down.
Neighborhoods becoming ghost towns.
Shopping malls becoming ghost malls.
Box stores becoming ghost boxes.
Bank Closures growing rapidly.
Foreclosures so no sign of abating.
Loan defaults reaching new highs.
And here are some not so fun y/y retail numbers:
BJ's June same-store sales down 7.5%
Macy's same-store sales down 8.9% in June
Dillard's June same-store sales down 14%
Aloca sales down 41%
German exports fall 25 percent in May
Limited Brands June same-store sales fall 7.9%
The Limited June same-store sales down 12%
Children's Place June same-store sales down 12%
Destination Maturnity: June comp. sales down 10.7%
Costco June same-store sales fell 6%
Hot Topic June same-store sales down 7.9%
American Eagle June same-store sales down 11%
Gap June same-store sales down 10%
Abercrombie & Fitch same-store sales off 32%
Now even the homeless are getting kicked out of shelters:
A new tent city populated by about 100 homeless people along a Sacramento street has prompted a charity agency to propose that the city allow it to lease land to establish a legal place for those people and others to stay.
On Tuesday, Sacramento police told people staying in the encampment that they had three days to move to another site.
After the Cal Expo homeless shelter closed for budgetary reasons on July 1, the more than 200 homeless men, women and children were left without a legal place to reside, said officials with Volunteers of America, the charity that ran the shelter.
http://www.sacbee.com/topstories/story/2009685.html
What does it say about the state of the ecnomomy when the homeless have no place to say?
Wednesday, July 8, 2009
Monday, July 6, 2009
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