billddrummer

Google Redefines GPS Navigation Landscape

Let's hope the search engine is better than Google Maps. I used it today for some property research, and not only did the program put the building in the wrong location (fully a city block north of where it actually sits), but the direction function didn't capture an access road built 18 months ago, that cuts 10 minutes from the directions to the property.

Since 40% of my job is property research, I expect flawless performance. I was frankly surprised at the errors from Google Maps, which I use consistently because of its (perceived) accuracy.

Perhaps I need to look for another mapping function.

U.S. Generational Shift is Key to Future Consumer Spending

And I agree with the conclusions of the article that the WMT, HOG and GMs of the world will continue to lag behind companies that recognize and respond to the generational shifts that are evident.

U.S. Generational Shift is Key to Future Consumer Spending

I agree, it's a good article.

I work for BBY in the Home Life department (TVs, appliances, gaming systems and media). I've noticed that the boomer generation has vanished from the store, and been replaced by Gen X and Gen Y folks who have bought their first home, and empty nesters who are upgrading their computer systems, TVs, and appliances.

It's almost as if Middle America isn't shopping anymore.

Homebuyer Tax Credit: Update

I'll reiterate what I said on a local real estate thread:

If this passes the way it's proposed, it will prop up the prices of higher priced homes and reduce the availability of lower priced homes--exactly the opposite of what the government says it wants to happen.

Case in point--if you buy a $150,000 house, the credit will be $7,290. If you buy a $700,000 house, the credit will be $7,290.

Extend and Pretend: The Growing Divide Between Delinquencies and Foreclosures

Something occurred to me today as I was trying to figure out how to cover my oldest daughter's 2nd semester tuition at NYU:

"Why is college so expensive anyway?"

If she successfully completes her studies and graduates, she will have more than $100,000 in student loans to repay--just from her undergraduate studies.

How much will she need to earn to pay off those loans? And if she doesn't pursue an advanced degree, what are the chances that she'll never earn enough money to pay them off?

I didn't graduate from college. I had to work. But it's unfortunate that we have saddled our children with onerous debts that may never be repaid, in the name of 'furthering their education.'

Not a ringing endorsement of the American educational system.

Consumer Confidence Crumbles

To bigbear4511,

And none of them are on medication.

The Greatest Depression Is Coming

On Oct 17 01:59 PM KirbyJF1 wrote:

> You must have been CHICKEN LITTLE in a previous life. What a bunch
> of boulder dash.
>
> Kirby

That would be balderdash.

I haven't read all the comments, but the article makes some excellent points. I tend to think that most middle class Americans have come to grips with the grim reality that their children's futures will be materially worse than theirs--the first time in American history that parents expect their children to achieve less than they did.

A new study finds a disconcerting trend in bankruptcy filings: More than 50% of small business bankruptcy filers were current with one or more of their lenders when they threw in the towel. The speed and silence with which they're going under is deeply worrying to lenders, who historically have managed default risk by closely monitoring delinquencies.

That's happening in personal bankruptcy cases as well. I'm familiar with one case in which the debtor was current on all his debts, yet filed bankruptcy and discharged $98,000 of unsecured loans and credit cards.

None of the lenders had any inkling because everything was current.

Progressive Surpasses Estimates

I recently received quotes from PGR and ALL for car and rental insurance.

ALL was 40% lower than PGR.

Now, I like the ads, but I vote with my wallet.

This Recession Ain’t Over

Thank you for the excellent article, and the succinct and reasonable analysis.

Why aren't people like you, John Lounsbury, and others in this forum sitting in Washington sharing your views?

Because nobody wants to acknowledge that the emperor has no clothes.

The Death of U.S. Consumers: Not Yet, But Soon

To Old Trader,

You're right, retailers seemed unusually strident this back to school season compared with previous years. I work in specialty retail (BBY) and the pressure was on to grab market share in computers, dorm furnishings and anything else we sell.

I think the American consumer is exhausted.

Welcome to the New Normal

Excellent article, Mr. Mauldin.

Thank you for providing hard data for what is turning out to be a seemingly intractable problem--how to put enough people to work to pull the economy out of its doldrums, yet not bankrupt the Treasury in the process?

It seems clear that only massive government intervention will make a material difference in the job count, yet no one wants that (including me). I contend that the government is already far too intrusive, and more powers begat more intrusiveness.

But for private industry, the only reason to hire is that the new employee will produce more work than his or her cost to hire. Until profit margins recover, hiring workers will continue to be an expensive proposition.

And without top-line revenue growth, there's little incentive to hire. Yet without expanding employment, top-line growth will languish.

An economic conundrum: Companies won't hire because they see no revenue growth, but unemployed workers can't spend because they aren't working. And that reinforces the companies' stand against hiring.

Again, thank you for the article, and the lively discussion it spawned.

Liz Ann Sonders: Job Gains Possible by Year-End

Excellent article, Mr. Mauldin.

Thank you for providing hard data for what is turning out to be a seemingly intractable problem--how to put enough people to work to pull the economy out of its doldrums, yet not bankrupt the Treasury in the process?

It seems clear that only massive government intervention will make a material difference in the job count, yet no one wants that (including me). I contend that the government is already far too intrusive, and more powers begat more intrusiveness.

But for private industry, the only reason to hire is that the new employee will produce more work than his or her cost to hire. Until profit margins recover, hiring workers will continue to be an expensive proposition.

And without top-line revenue growth, there's little incentive to hire. Yet without expanding employment, top-line growth will languish.

An economic conundrum: Companies won't hire because they see no revenue growth, but unemployed workers can't spend because they aren't working. And that reinforces the companies' stand against hiring.

Again, thank you for the article, and the lively discussion it spawned.

Liz Ann Sonders: Job Gains Possible by Year-End

Excellent article, Mr. Mauldin.

Thank you for providing hard data for what is turning out to be a seemingly intractable problem--how to put enough people to work to pull the economy out of its doldrums, yet not bankrupt the Treasury in the process?

It seems clear that only massive government intervention will make a material difference in the job count, yet no one wants that (including me). I contend that the government is already far too intrusive, and more powers begat more intrusiveness.

But for private industry, the only reason to hire is that the new employee will produce more work than his or her cost to hire. Until profit margins recover, hiring workers will continue to be an expensive proposition.

And without top-line revenue growth, there's little incentive to hire. Yet without expanding employment, top-line growth will languish.

An economic conundrum: Companies won't hire because they see no revenue growth, but unemployed workers can't spend because they aren't working. And that reinforces the companies' stand against hiring.

Again, thank you for the article, and the lively discussion it spawned.

Jobs Picture Improving, But Continuing Claims Still Blurry

To Mark Bern,

There's still a ton (no pun intended) of unused shipping capacity floating off the coast of Hong Kong.

As long as there's unused tonnage floating, the BDI won't rise.