Use access key #2 to skip to page content.

alstry (35.36)

Alstrynomics TRUE facts

Recs

12

January 22, 2009 – Comments (5)

Capital One(from CRisk):

The change in outlook is primarily the result of declining balances and adverse credit performance of closed-end, unsecured loans that are included in the U.S. Card subsegment. Auto Finance delinquencies and charge-off rates increased in the quarter as a result of seasonality, economic worsening, declining loan balances, and the impact of sharply falling used car auction prices.

S&P cuts Capital One's rating outlook to negative

Synovus(from CRisk):

“As the economy continued to deteriorate in the fourth quarter, credit quality in the residential construction and development portfolios, especially in Atlanta, continued to weaken,” said Richard Anthony, Chairman and CEO.

Digg to cut 10% of staff


Toyota reportedly considering 1,000 job cuts

Employers cut 533K jobs in Nov., most in 34 years

GM to lay off 2,000 more workers at 3 factories

Late mortgage payments and foreclosures hit record

Finally.....a more realistic perspective on the reported jobs numbers.  I tell you....if you don't understand Alstrynomics.....you are living in fantasyland....

NEW YORK TIMES

The jobs report doesn't account for the 637,000 people who dropped out of the labor force.

How bad was today’s jobs report? The unemployment rate rose to 6.7 percent, its highest level since 1993 — and that understated the weakness in the labor market.

According to the Labor Department, the number of unemployed workers rose by 251,000 in November. But the number of people who were outside of the labor force — that is, neither working nor looking for work — rose by much more: 637,000. These people aren’t counted as unemployed in the government’s statistics, because they are not looking for work. Many of them, presumably, have stopped looking for work because they didn’t think they could find a good job.

Does this Times piece sound familiar to regular readers of this blog???  NOW APPLY THE NOVEMBER NUMBERS TO MONTH AFTER MONTH AFTER MONTH.......As I told you...you should not be surprised when the unemployment rate hits 30% or higher.  Why do you think Obama is preparing America for volunteer service???.....maybe becuase there will be limited work for pay????

Again, Alstrynomics focuses on providing the truth based on facts....not fantasy or fiction.....and then taking those facts and extrapolating them to reasonable conclusions.  With relatively few picks and a relatively short tenure on CAPs.....do you think its an accident that the application of Alstrynomics has resulted in one of the highest scores on CAPs?

You can be a Fool who knows the facts and how to apply them.....or you can just be a Fool.

I hope you have prepared for what is coming......may the ratings be with you.....

 

 

5 Comments – Post Your Own

#1) On January 22, 2009 at 6:34 PM, alstry (35.36) wrote:

HOT and SMART.........Alstry's favorite combination.........

http://www.bloomberg.com/avp/avp.htm?N=av&T=Mesirow's%20Swonk%20Sees%20U.S.%20Recession%20%60Getting%20Worse'&clipSRC=mms://media2.bloomberg.com/cache/vGwrEAKXzTTI.asf

Report this comment
#2) On January 22, 2009 at 7:04 PM, alstry (35.36) wrote:

EVERYONE should prepare for a lower or stagnant income for a period of time....but as prices decline, your purchasing power should remain intact as long as the two move proportionately.

However, there will be some expenses in your life that are fixed....for these you should take steps to mitigate the effects.

Obama freezing wages.

California freezing and cutting wages.

Now even Yahoo.....

Yahoo's new CEO imposes salary freeze

On the postive side....if you and/or your spouse get layed off.....that should you give you both more time to get layed.  This might be a good way to initiate Obama's volunteer initiative.

Report this comment
#3) On January 22, 2009 at 9:27 PM, alstry (35.36) wrote:

Hurry...buy gold...DEFLATION NATION is heating up.....housing, oil, commodities, real estate, rents, and now restaurants......

From the WSJ:

A chill went through the restaurant industry last week when a top New York restaurateur, Stephen Hanson, announced that he was closing several of his once-packed and highly successful restaurants in New York and Chicago. It was the latest in a string of bad news for the business. Confronting a wave of high-profile closings at top eateries, restaurants are bracing for a tough year -- and taking new steps to try to survive.

Fine dining sales, which totaled about $7 billion last year, are expected to plummet 12% to 15% in 2009, says Joe Pawlak, vice president of Technomic, a Chicago restaurant industry consultant. In New York, the Rainbow Grill above Rockefeller Center announced last week that it will stop serving dinner, and will offer only drinks and appetizers. Taurus, an Atlanta steakhouse that had earned accolades in the local press, closed two weeks earlier. In San Francisco, Rubicon, a top-rated restaurant co-owned by New York restaurateur Drew Nieporent, closed in August.

Urbana

Urbana Restaurant and Wine Bar

Where the Deals AreBOSTON

Rialto
On Monday nights, oysters cost $1 each (they're usually $2 each) and nightly there is a $40 three-course dinner option (usual dinner price: roughly $55).

NEW YORK

Gramercy Tavern
Every weekday in the less-formal Tavern section of the restaurant, a soup-and-sandwich lunch is $14. Choices may include preparations such as roast beef with ramp aioli and arugula and parsnip soup.

PHILADELPHIA

London Grill
Through Feb. 12, a three-course dinner of lobster or beef filet, salad and dessert costs $18.95. Ten dollars more gets you two glasses of wine paired with the meal.

WASHINGTON

Urbana Restaurant and Wine Bar
A two-course lunch, plus a dessert and coffee wrapped up to go, is $11.95. Usually, lunch is about $25.

NEW ORLEANS

Besh Steak
For $20.09, the restaurant will pour an unlimited amount of wine from a selection of five whites and five reds, Monday through Wednesdays (excluding Mardi Gras).

PORTLAND, ORE.

Bluehour
A three-course lunch is $24 (usual cost is about $30).

DENVER

Rioja
During the city's Restaurant Week, from Feb. 21-27, diners can eat three courses from the menu at a cost of $52.80 per couple (some items have a supplementary fee).

LOS ANGELES

Campanile
During Los Angeles's Restaurant Week, which runs Jan. 25-30 and Feb. 1-6, Campanile will serve a three-course dinner for $34 (usual cost: $65).

SAUSALITO, CALIF.

Poggio
On Monday nights, the restaurant serves a $16 porchetta (whole pig stuffed with sausage and spit-roasted) and Italian bean dinner, with a quarter-liter of Chianti for $6 more.

Mr. Hanson closed Fiamma, a formal Italian restaurant in New York's SoHo; Ruby Foo's Uptown, a pan-Asian restaurant on the Upper West Side; Level V, a Manhattan lounge, and Blue Water Grill in Chicago. B.R. Guest Restaurants, Mr. Hanson's restaurant company, laid off 400 of its 2,000 employees.(That is 20% for the mathematically challenged)

To avoid the fate of some of their peers, many restaurateurs have been rolling out dramatic discounts.

So let me get this straight....we should run out and buy gold before our dollar buys us too much???????

Report this comment
#4) On January 22, 2009 at 9:58 PM, alstry (35.36) wrote:

The real world effects of Deflation Nation......and remember, families like this are considered employed even though they are not making enough to make ends meet....how many millions and millions of people fit this criteria that are not counted as unemployed?

Never before have so many been forced to have their incomes reduced by so much........if you are still fortunate....please prepare.........

(CNN) -- Donna LeBlanc gave her husband, a former restaurant manager, the stark ultimatum: become a pizza delivery man or their family "wouldn't make it."

The Lafayette, Louisiana, family of six was struggling with $45,000 of mounting medical debt from Donna LeBlanc's unexpected case of pneumonia and tonsillitis a year earlier. The family savings account had dwindled to $100.

"It's embarrassing for my husband to take a job he is overqualified for, and I know he feels ashamed at times," says Donna LeBlanc, a 35-year-old mother with four children. "But this is what we have to do and we're going to make the best out of it."

She watched her husband, Rob LeBlanc, 35, load Domino's pizza boxes into their family car and deliver orders until near dawn for $10 an hour.

The family first told their story of falling on hard times on iReport.com. Share your economic survivor story with CNN.

Until last summer, Rob LeBlanc had worked as a manager at a truck stop restaurant, making $55,000 a year. He lost that job to the falling economy.

$55K to $20K per year......you think this family can sustain this income hit and still make ends meet????

Report this comment
#5) On January 22, 2009 at 10:22 PM, Varchild2008 (85.33) wrote:

"$55K to $20K per year......you think this family can sustain this income hit and still make ends meet????"

No, but that still doesn't mean they shouldn't run out and pre-order DIABLO III and Starcraft II and many other Activision Blizzard video games!!

Report this comment

Featured Broker Partners


Advertisement