Economy/Business question

[GPK]

Originally Posted by TheSpyder

I'm in the mattress industry which is discretionary in that people will wait since most people have one already. Business across the country is down 20%-30%. People are closing up shop both as manufacturers and retailers. Retailers are getting killed as fixed expenses don't change.

Spyder

That is what I am hearing from others as well. More input from others would be great.

Thanks Sypdie

[FGFan]

There was a article in the news that Vegas which is considered recession proof is now feeling the impact. Flights will be down 12% and hotels 18% is what I think they quoted, they are now re-inventing their marketing and appealing to more local business, giving away gas cards, and the convention source has significantly dropped.

[Mortimer]

Originally Posted by FGFan

There was a article in the news that Vegas which is considered recession proof is now feeling the impact. Flights will be down 12% and hotels 18% is what I think they quoted, they are now re-inventing their marketing and appealing to more local business, giving away gas cards, and the convention source has significantly dropped.

ILY

When life throws you lemons...piss in a hobo's mouth.

[2MinsToPost]

I'm in the grocery business. The company I work for is one of the power houses in the Midwest with over 200 stores and growing. Funny thing is this came up at a Meeting I was at this past Saturday before our Grand Opening of the store I am at now.

For our existing stores, business is up 15% across the board ending this fiscal year (our fiscal year ends in June) compared to fiscal year ending 2007. Keep in mind we have a great fuel perks program that can save our customers a ton of money on gas they purchase from our stations based on how much they spend in our stores.

[ddthetide]

i'm a serviceman for the electric dept. people aren't paying thier electric bills until they have to. the first week of april is usually VERY busy and the last week of oct doing cut-offs for non-payment. (CONPs) because of the warm spring and early summer heat we cut off 85 today and about that many tomorrow. the bills are climbing and we're trying to keep them in hand.

[ninetoone]

Originally Posted by ddthetide

i'm a serviceman for the electric dept. people aren't paying thier electric bills until they have to. the first week of april is usually VERY busy and the last week of oct doing cut-offs for non-payment. (CONPs) because of the warm spring and early summer heat we cut off 85 today and about that many tomorrow. the bills are climbing and we're trying to keep them in hand.

I hear a lot of places have (or are beginning) legislation to ban cutting off someone's electricity/gas when the temp rises above 95 degrees, etc...have you seen this?

[GPK]

Originally Posted by FGFan

There was a article in the news that Vegas which is considered recession proof is now feeling the impact. Flights will be down 12% and hotels 18% is what I think they quoted, they are now re-inventing their marketing and appealing to more local business, giving away gas cards, and the convention source has significantly dropped.

Las Vegas being affected more now than in any previous recession. Casino stocks are taking a hard hit.

Las Vegas Sands down almost 70% off from 52 week high
MGM Mirage down 70%
Boyd Gaming down 73%
Pinnacle Entertainment down 62%
Riviera Holdings down 73%
Trump Entertainment Resorts down 83%
Wynn Resorts down 45%

[GBBob]

Originally Posted by GPK

Las Vegas being affected more now than in any previous recession. Casino stocks are taking a hard hit.

Las Vegas Sands down almost 70% off from 52 week high
MGM Mirage down 70%
Boyd Gaming down 73%
Pinnacle Entertainment down 62%
Riviera Holdings down 73%
Trump Entertainment Resorts down 83%
Wynn Resorts down 45%

that's because I haven't been there since January

[GPK]

Originally Posted by GBBob

that's because I haven't been there since January

I hear ya...I haven't been since 2005

[Mortimer]

Vegas Vets spitting the bit.