Friday, May 15, 2009

Five Percent, Just Like That!

  • The market fell about 5% this week. I know the gurus think the seasonality thing is just a big joke, but er uh....  Sure, it may just be blind (bad) luck that the market tends to do worse May-November, but here we are again.  Well, so far anyway.
  • Euro zone economy contracted for 4th consecutive quarter.
  • GM to cut 1100 dealers.  Combined with Chrysler, that's pushing close to 2000 dealerships closed.  I'm thinking that even if those dealerships aren't the top sales leaders for the companies, those sales will go to other dealers like Toyota, Ford, Nissan, Honda, etc.  Could  it be tens of thousands of cars?  Hundreds of thousands?  Or will buyers go the extra mile to get the Chrysler or GM car they want?
  • Mayor Kevin Johnson is recommending Sacramento join a growing list of cities that have declared a "state of fiscal crisis" in anticipation of the state's borrowing $2 billion in property taxes from local governments if next Tuesday's ballot measures fail.  Suddenly the talk of a new arena for the Sacramento Kings goes not on the back burner, but buried deep in the pantry somewhere.  (Behind the large Costco-sized box of Cheez-its and 30 cans of chicken soup).
  • Don't let the bad news get you down.  Looking for a silver lining? President Obama's finances are just fine, thank you very much. 
  • ...and it's the weekend.  Cheers!

Pic is of Eliza Dushku, who may get a second season of Dollhouse.