Vacuum Cleaners Discussions

Early news reports in the USA are saying the London financial markets nosed dived today in the worse downturn ever.  This comes on the heels of a 4 percent drop in the Dow Jones Industrials last week alone.  Since today is a Federal Holiday in the US in observance of Dr. Martin Luther King the financial markets are closed.  Not sure what impact the London market fall will have on the US markets--have to wait to see.

What and how long will it take jaydee to realize that he needs to enter the low to middle price range vacuum market to stay competitive in the USA in the big box stores' venue?

Any news yet on the 2007 dyson sales? 

Carmine D.

Whirlpool profits fell 20 percent in the first quarter of 2008.  Share prices fell 10 percent down $ 8.32 to $73 plus.

CEO Jeff Fettig blamed increased metal and oil costs on the downturn.  And the weaking domestic orders for refrigerators, ovens, and other appliances. 

W-P net income fell to $94 Million from $117 Million a year earlier.  Far below the average estimate of analysts surveyed by Reuters.  The company will try to raise prices to cover rising costs.

Source: WSJ, Friday April 25, 2008.

Carmine D.

CarmineD wrote:

LG and GE cross license patents.  LG is gunning for Whirlpool and GE is helping them.  Monster sized companies ok.  Monster size compaines gaining even geater leverage in the market with a stroke of a pen...  not good. 

Without knowing the facts, it’s plausible LG is suing Whirlpool over newly licensed patents acquired from GE.  Who knows?  Below are 2 articles (there’s more if Googled).        DIB

Story and Date:  2/27/08  LG and GE cross license’s patents.  Two months later LG counter sues Whirlpool….

Story and Date: 4/25/08  LG counter sues Whirlpool.

Hello DIB:

Nice pic. 

I'm not a fan of LG.  Was a long time stock owner of GE until August 2006.  I wouldn't buy and own either stock now [GE/LG] especially if they align forces for selective ventures. 

Carmine D.

For the seventh time in as many months the Federal Reserve under the leadership of Ben Bernanke has lowered interest rates again.  The Federal Funds Rate on which all other rates are based is 2.00.  And the Fed says more to come if necessary. 

Have the rate cuts helped?  No, say most economists and business analysts.  Why? Based on the results.  The housing market is worse with even more foreclosures; the unemployment rates among states has gotten higher; job market opportunities have gotten worse because most companies are cutting back employees and closing stores; consumer spending is worse than ever despite the government stimulus rebates [at least one more will come probably next year]; retail sales are at all time lows for 3 decades; companies' earnings and profit reports are way down [i.e Whirlpool, Electrolux and on and on]; gasoline prices at the pump are going higher daily and household food costs are at 35 year highs [in large part due to the the lower dollar and higher inflation both caused, some say, by the Fed's aggressive interest rate cuts].  Use to be people got sticker shock when they saw the price of new vehicles.  Now its when you go food shopping.  Rice is being rationed.  Rice!  Poor people's food.

Bad times ahead ladies and gentlemen for the USA and the world.  Heaven help us if China falls into a recession.  BTW its stock market is down the most this year: Over 50 percent.

Do you get the feeling our government officials [read Central bankers] don't know what they're doing?  I do.  I'm waiting for the consequences when the majority of Americans do too. 

Carmine D.

While I am in favor of educated men and women making important decisions (rather than a guy you would like to have a beer with). I have to say sometimes they just don't get the "small picture". The one the everyday family goes through. When you hang with "suits" all the time you lose the average guy perspective and make decisions on conjecture of what he wants or needs. In this perfect storm of events that has MANY causes they seem to focus on the Housing/Sub-prime debacle. Their answer seems to be... make money cheaper so MORE credit is available. WHAT THE AVERAGE GUY WANTS IS LESS DEBT, LESS LOCAL TAXES, REASONABLE COMMODITY PRICES AND """"""MORE INCOME"""""" not more borrowing power!!!!!

Lucky1:

Add to the equation that a number of states, like yours for example I believe, are attempting to adjust/raise tax rates on real estate and property to offset the lower housing values and all the foreclosures.  Why?  To keep their revenue streams coming in to fund their state budgets.

Not only do homeowners have all the economic problems we talked about, but now they can look forward to higher property and real estate taxes too.  Are the citizenry dumb enough to fall for this?  The USA was founded on a tax revolt/rebellion by its citizenry.  It wouldn't surprise me to see it again.  5 states in particular are the hardest hit: Nevada, Arizona, Florida, Michigan and California.  Raise the tax rates to get more money for state revenues and budgets?  With gas and food prices at highs not seen in over 3 decades?  Wait a minute.  Let me introduce you to my little friends: Smith and Wesson.  

Carmine D.

*-- How to use Your IRS Rebate check--** *

> *As you may have heard, the Bush Administration said each*
> * of us would get a rebate check to stimulate the economy. *
> * *
> * *
> *If we spend that money at Wal-Mart, *
> *all the money will go to **China**. *
> *If we spend it on gasoline it will go to the Arabs, *
> *if we purchase a computer it will go to **India**,*
> * if we purchase fruit and vegetables it will go to*
> * **Mexico**, **Honduras**, and **Guatemala**, *
> *if we purchase a good car it will go to **Japan**, *
> *if we purchase useless crap it will go to **Taiwan** *
> *and none of it will help the American economy. *
> * *
> *We need to keep that money here in **America**. *
> *The only way to keep that money here at home is*
> * to spend it at yard sales, since those are the only*
> * businesses still in the **US**.*

CarmineD wrote:

You are the one who told us that we can talk to the tax office and either get taxes lowered or prevent them from increasing.  You have no worry about a tax increase in NV.

HARDSELL wrote:

I did.  Then the USA Weekend carried an article on the same.  And then the WSJ.  Nevada has been very sympathetic to the homeowners plight in part I believe to the skyrocketing housing values over the last few years.  Unlike other states looking to bleed the homeowners of cash.  Nevada capped the tax assessments several years ago to prevent higher property taxes due to the double digit rising home values year over year. 

Carmine D.

CarmineD wrote:

You contradict what you previously said:

" 5 states in particular are the hardest hit: Nevada, Arizona, Florida, Michigan and California.  Raise the tax rates to get more money for state revenues and budgets? "