When Worse Is Better Than Expected
September 16, 2009
– Comments (6)
For the past few years, we have been seeing declining performance but have been told it was better than expected. As things get worse, more will shut down...but it will be better than expected. Until there is nothing left to shut down, but it will be better than expected.
Gladys Young, a revered local figure who helped create the Escondido Auto Park in the early 1980s, will close her Cadillac, Pontiac and Buick dealership this month after 39 years in business.
Young's is the second new car dealership in Escondido to close since the recession began, following Witt Lincoln-Mercury last October. In addition, eight of the city's two dozen used car dealerships have closed.
http://www.nctimes.com/news/local/escondido/article_d8d239ff-8502-5b0f-811f-0308e6cab9b4.html
Pay attention to declining tax receipts....they will continue to decline....but will be better than expected.
The auto park dramatically boosted the city's sales tax. In recent years, it has typically covered about $20 million of the city's $80 million budget, helping to pay for police, firefighters, parks and other city services.
And when the tax receipts decline...millions of jobs will be lost and pay cut....but it will be better than expected....unless we stop zombulation soon and restructure.
Onondaga County - Possible 163 Job Cuts for 2010 Budget
The Kentucky Administrative Office of Courts - 47
City of Denver - Besides Layoffs, 600 Positions to Stay Unfilled
State of Penn. - Possible more Layoffs than the 315 that occurred in August
As more and more lose incomes, credit and savings....business will continue to slow....but it will be better than expected.
The average price of a hotel room in the U.S. fell 17 percent, year-over-year, in the first six months of 2009, according to the latest Hotels.com Hotel Price Index.
The average room rate in the U.S. cost, on average, $115 a night in the first half of the year, down from $139 in 2008.
"This is, by far, the most significant change in prices we've seen since we created the Hotel Price Index,” Hotels.com President David Roche said in a news release. “Americans' travel dollars have never gone farther than in 2009.”
As hotels shut down due to declining revenues, expect many other businesses to shut down as well....but it will be better than expected.
Since October 1, 2008, approximately 115 corporate-owned locations of the Dollar Rent A Car and Thrifty Car Rental brands have been closed in the US and Canada. In addition, there are approximately 10 additional locations to be closed during the remainder of 2009 as the underlying leases at those locations expire.
Jeld-Wen officials have confirmed the company is closing the Corsicana window factory by Sept. 25, putting about 90 full-time employees out of work. The workers learned of the closure on Monday.
Hale's had been in business for 154 years, but Tuesday marked the end. They closed their doors at 5:00 pm. The owner of Hale's said the economic downturn was the beginning of the end for Hale's. Ancient photographs underscore the historic importance and scope of the store, which was the oldest family-owned department store in Michigan.
None of this is the end of the world nor is it doom and gloom....simply Benny B's policy of destroying our consumption economy in America and switching to a savings economy as we bail out Wall Street.....and after 50% of the population loses their jobs, I am sure most will say.....it was better than expected.
RSS Headlines
Fool UK