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alstry (35.03)

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July 23, 2009 – Comments (11)

TRANSPORTATION.....

Ryder Q2 revenue down 25% to $1.24 bln

UPS Q2 consolidated revenue $10.8 bln vs $13 bln

We also know that CSX, JB Hunt, and Werner revenues were down 20-30%.

The movement of goods down 20-30% and we are only reporting a decline in GDP of 6%?

11 Comments – Post Your Own

#1) On July 23, 2009 at 8:04 AM, alstry (35.03) wrote:

Union Pacific:

Business volumes, as measured by total revenue carloads, were down 22 percent versus the second quarter 2008. Reflecting lower volumes, year-over-year freight revenues declined 28 percent to $3.1 billion in the second quarter 2009. Lower fuel surcharge revenue in the second quarter, down over $500 million year-over-year, contributed to this decline.

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#2) On July 23, 2009 at 8:30 AM, OneLegged (< 20) wrote:

Millions out of work and shipped volumes down drastically and GDP is reported at only a few percent.  This simply cannot be.  There is no way  that companies could suddenly become this efficient.

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#3) On July 23, 2009 at 8:32 AM, OneLegged (< 20) wrote:

...reported as being down only a few percent. 

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#4) On July 23, 2009 at 8:38 AM, alstry (35.03) wrote:

It gets even better...

Industrial Sales down 20%+

Auto sales down 50%

New Home Sales down 80%

Technology Sales down 20%+

Commercial Rents in NY down 50%

50% of Architects Unemployed

Legal Revenues down 20%+

Income Tax Receipts down 30%

Something just doesn't jive......

 

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#5) On July 23, 2009 at 9:07 AM, alstry (35.03) wrote:

AMERICANS GIVING UP.....LOSING  HOPE, AND NOT COUNTED.

In some U.S. states, nearly half of the job seekers who have stopped looking for work have done so because they simply don't believe they'll find anything. Indeed, the number of discouraged workers nationwide has more than doubled in the past year. This trend won't be reflected in the widely publicized unemployment rate, as discouraged workers aren't included among the unemployed. Still, in states as diverse as Mississippi, South Dakota, and New York, the span of this often invisible slice of workers signals a population losing its hope.

http://finance.yahoo.com/news/States-Where-the-Unemployed-usnews-3479448580.html?x=0 Report this comment
#6) On July 23, 2009 at 10:24 AM, Judochop172 (27.87) wrote:

54 Miss. counties reporting double-digit unemployment

http://www.clarionledger.com/article/20090723/NEWS/907230349/54+Miss.+counties+reporting+double-digit+unemployment

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#7) On July 23, 2009 at 10:29 AM, vtBrunson (51.25) wrote:

Lets face it, we're not a country that makes anything anymore.  We couldnt compete before Cap & Trade, and certainly will not be able to compete is this becomes law.. Laws and taxes and government intervention all side with the folks who play a high level version of "Three Card Monty", not with the folks that get their hands dirty.  It's not at all subtle any more, the car manufacturers (once the shining gem of U.S. industry) had to beg and plead for Billions... While the bankers got Trilions rubber stamped with their "fear of collapse" campaign (Don't worry though... Obama said there will be a time that we will look into those who abused the system, but now is not the time

"We have sedated the sleepy giant"

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#8) On July 23, 2009 at 10:38 AM, alstry (35.03) wrote:

Fewer people in the work force also means less revenue from taxes on sales, properties and car tags for new vehicles, city and county leaders said. They, too, are trimming expenses by holding off on hiring workers, giving raises to current employees, and freezing purchases of equipment.

"If the income coming in is not substantial, then it will make it difficult to craft a budget," said District 1 Hinds County Supervisor Peggy Calhoun, whose board begins budget hearings next month for the fiscal year that begins Oct. 1.

http://www.clarionledger.com/article/20090723/NEWS/907230349/54+Miss.+counties+reporting+double-digit+unemployment

How can so many "economists" see a positive outlook when all the objective data is so negative.  I could see a few economists, but practically all providing a positive outlook with the data deteriorating.

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#9) On July 23, 2009 at 11:09 AM, usmilitiadude (30.66) wrote:

Perhaps GDP is not a good indicator since gov't deficit spending is included. For what its worth, S&P 500 as reported earnings estimates are up for 2009. Here comes the sunshine and lollipops.

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#10) On July 23, 2009 at 11:18 AM, alstry (35.03) wrote:

usa,

Bingo!!!

But the problem now is that governments will be forced to cut waaaaay back.  Less jobs, less salaries, less purchases.

When you release tens of thousands from prisons, cut welfare  benefits to hundreds of thousands, and wages to millions....with little prospect for income....the outlook is ominous at best and let's leave it at that.

My guess is that social unrest will become an issue in the next few weeks as the prospect of massive cuts sinks in......

None of this is hard to see.......interesting why so few politicans are preparing......after all, subprime was contained and there were weapons of mass destruction.

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#11) On July 28, 2009 at 1:47 AM, MGDG (36.49) wrote:

I saw an article on housing price declines in major U.S. cities and the article mentioned they left out some cities such as Detroit because the prices had declined as much as 96%. So if we leave out the really bad numbers the average numbers look less bad. It must be the new accounting method, just as their using for unemployment, inflation and any toxic asset that's carried on a balance sheet.

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