s skippy the bush kangaroo

skippy the bush kangaroo



Tuesday, August 27, 2002

business: everything's down except unemployment

well, we are exaggerating. the amount that andersen worldwide, the umbrella organization that includes arthur andersen, has agreed to pay to settle lawsuits from enron corp. investors and employees is up to $40 million.

but not only did the market drop today, so did consumer confidence for the second month in a row, to its lowest level since last november.

also down: the forecast, by the congressional budget office, of the next decade's worth of budget supluses (by 80%). "congress' nonpartisan budget watchdog projected cumulative surpluses of just $336 billion from 2002 through 2011, down from the $1.7 trillion it last forecast in march."

also down: retail sales are running below expectations, and retail stocks, "after merrill lynch analysts issued sweeping downgrades of companies from high-end clothier nordstrom to discount grocer shopko."

however, according to manpower, inc's quarterly survey of 16,000 companies, hiring levels will remain relatively stable (another way of saying, they're not going up. so if you're looking for a job, your optimism might be what's going down).

also down: the dollar.

now for the ups: amount of money taken out of mutual funds in july ($49 billion, a record).

also up: william buckley's dander over such important issues as the simulated sex antics by opie and goofy, or whatever those djs in new york are called.

now, truly good news. existing home sales are up. that's good. (unless you think there's a real estate bubble developing. then it's not so good).

and finally, also up: employee anger over bathroom breaks at the jim beam distillery in kentucky (only 4 per 8 hour shift, and only one of those can be unscheduled). what, doesn't jim beam think people ever drink anything?
posted by skippy at 5:47 PM |

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