billddrummer

Weekly Unemployment: Lying with Numbers

Thank you for this article. It's too bad that most people won't go past the headlines and presume things are actually improving.

Except for the ones that just got laid off, are looking for work and watching their savings fall, or just got their benefits cut off.

Those folks understand the pain behind the headlines.

Seven Key Points From Simon Property Group's Q408 Conference Call

Hi Judy,

Excellent commentary as usual!!

If you look at trends for REITs with mall properties, typically the fourth quarter shows the highest revenue, what with revenue kickers based on holiday traffic.

By saying "Don't put credence in our 4th quarter numbers" it sounds like SPG (which has some of the best, most profitable malls in the US) was hammered by lower traffic during the 2008 holiday season, which nearly everyone agrees was one of the worst in recent history.

And without those fourth quarter revenue kickers and corresponding CAM increases, the REIT was loathe to show a profit.

And since they are distributing dividends with stock, not cash, sends a signal (to me, anyway) that they expect the first half of 2009 to be worse than the last half of 2008.

Perhaps they'll get lucky in 2009 and not have to distribute any profits. Because there won't be any.

ATB,

Bill

Liquidation Sales Swell, But Will They Save You Money?

Spot on with this article.

A CC store in town is liquidating and the first round of price cuts was 20%. Some shoppers said the CC that was staying open had better prices on some merchandise.

Final days for this store are upon us, and the liquidator (Hilco) is now selling racking and store fixtures as well as merchandise. But unlike the example cited in the article, no new product was brought in. Instead, only what was in the store is being sold off.

Transformation in Retail Shopping Gains Momentum

I agree with sun seeker. I think people reallocated spending in response to higher food and energy costs. They didn't spend less overall, just less on things other than food and energy.