Vacuum Cleaners Discussions

I agree there are some who would love to see ORECK fade away.  These additional ORECK floorcare venues, even Air Purifiers, came along with the good times.  In hard times, they drain and divert resources from the core ORECK lightweight upright operations and business.  I would not be surprised at all if some of the floorcare venues are sold off.  To retrench by reducing expenses and accumulating much needed cash.

BTW an aside, I mentioned that the new casino that just opened was full of rumors of declaring bankruptcy even before the grand opening last month.  I talked with one of the Corporate muckety mucks and specifically asked.  She laughed at the question and said no way.  I reminded her of the CFO's answers to interviews in September with the Bank heads/debt holders.  She still denied the rumors.  But wasn't laughing as hard.  I opined the spring of 2009 after a couple of quarters of missed payments.  This past week the casino owners and management asked for an extension on a line of credit.  [Can't meet the $450 MILLION debt financing].  This is surely a precursor of bankruptcy filing and reorganization.  I suspect the Corporate manager is/will be fired/laid off soon.

Carmine D.

Good questions and I'm not prepared to answer all now but I'll take a shot:

Hi Venson:

Good articles.  Nevada has always been on the leading edge of all the good economic indicators in the Country.  So, not surprising, in a turn around, it is hardest hit.  I'm licensed to bartend by the Nevada state authorities.  But have not used the skills yet.  Fortunately, my dear Wife and I also sold everything we had in the markets by August 2006, when I retired.  Even tho the markets were still heading higher, we thought it was time to go.  Bears make money.  Bulls make money.  Pigs get slaughtered.  Whenever you're taking profits, it's a good thing and it was a good decision.

Also on a positive note, monthly social security payouts increase 5.8 percent starting Jan 1.  Helps the cause.  Couple of extra big macs a month. 

Carmine D.

Great answers you could be right on the MONEY, When do you feel things will turn around?Or should we just get use to this and think that this is just the way its going to be.

Has the GREATER society lost its soul????????

MOLE

The quick and short answer:  Graphically depicted, the recovery will not be a "V" or even a "U" but an "L."

Unfortunately, homo sapiens have to lose it, then find it again, in order to appreciate and savor its value.

We'll see euphoria in January 2009, after President Obama's inauguration, spike the markets higher.  It will be short-lived.  Reality will set in, people will learn that he does not have all the answers, like FDR didn't, and the markets will go back down for the long count.  Retailer wise, Wal*Mart is the big winner in 2008 and in 2009.  It is the only stock in the Dow 30 that is up this year.  According to the latest survey data, WM, onced frequented by buyers with a annual household income of $40,000, upped their ante in 2008.  Now, the average household income of WM shoppers is $65,000 annually.   Consumers have "traded down" in their retail shopping and WM is the beneficiary.  This latest news is the biggest positive retail surprise of the year.  There are always winners and losers.  WM is the big winner this year in the retail sector.

Similarly, the old Wall Street wisdom, buy and hold is dead.  Doesn't work anymore.  It's buy and sell.  Trader is the name of the game.

Carmine D.