I have to say even after spending my formative years of growth in the big city, I'm still very naive. I've tried to run three-card Monte games and used to shoot dice in the street as a teenager. I've seen all kinds of con games and hustles and yet time after time, I still get sucked into the idea there are people on Capitol Hill that give a damn. Each time I allow myself to be sucked into that line of thinking I'm whacked over the head. Of course my jaw drops less and less each time. It's not like my shattered image of Tiger Woods who I thought was the ultimate role model. I was hit out of left field with his saga. My thirteen year old son says Tiger never said he was faithful so why is everyone saying he lied. He makes a good point but certain things were implied and played a role in Tiger's popularity. Politicians on the other hand aren't very popular in general even as they do make promises they never intend to keep.
Thoughts from the WSS Research Desk
- Dutch sports car maker Spyker made another offer to General Motors over the weekend, but gave a 5 PM (Detroit time) deadline today for the offer. Apparently Spyker gave an 11-point plan that addressed every item that GM gave as a reason talks disintegrated last week. Does anyone out there actually think GM will be able to move quickly enough to meet the 5 P.M. deadline? I don't.
- The Senate passed the first of three motions to break off the debate and get the healthcare bill moving along. All 58 democrats and two independents voted to approve the measure that would give about 30 million more Americans healthcare but put more taxes on big businesses that do not offer insurance, as well as more taxes on insurance companies, medical device makers, and pharmaceutical companies.
Mother Nature Dampens Retail Sales
Retail sales once again took a serious punch, but this time the punch came from good old Mother Nature as winter storms hit major cities across the East Coast. The weekend before Christmas is a most crucial time for retail sales, particularly this year, which have had abysmal sales in general. It is likely, however, that a good chunk of sales will be achieved through cyber space, as many consumers opt to take advantage of free shipping offers. It still remains to be seen how consumers shift sales to online mediums, but with such amazing offers, the prospects are looking promising. Retailers are seeing results from their online offers and are even extending free shipping promotions, enticing consumers to continue shopping on-line. Some of the major retailers extending their free shipping offers include Amazon.com (NASDAQ:AMZN), Macy's (NYSE:M), and J.C. Penny (NYSE:JCP). We expect this to have a strong effect on retail sales this year, compensating for the poor shopping weather which hit consumers this past weekend.