-- Posted Friday, 8 February 2008 | Digg This Article
| Source: GoldSeek.com
Rick’s Picks
Friday, February 8, 2008
“Phenomenally accurate forecasts”
Even Wal-Mart appears to be struggling these days. Same-store sales rose a meager 0.5 percent in January and 1.4% for the fiscal year. The latter number is the lowest since the company began reporting such data 30 years ago. Not only that, customers were drawing down their gift cards more slowly than in the past and using the cards increasingly to buy food and other necessities rather than discretionary items. Let’s pray we get those fat rebate checks soon, and that shoppers do their loyal best to piss away every last cent as quickly as possible on goods made somewhere other than China.
Not that it would necessarily be a good thing if shoppers were to suddenly turn patriotic and buy only goods made in the USA. It’d be a banner year for Harry & David’s, for sure, and for Texas farmers who grow those fabulous grapefruits. But think of all the deserted consumer electronics showrooms and apparel stores.
Get Thee to Nordstrom’s
Personally, we’re hoping the lion’s share of business goes to Nordstrom’s -- possibly the last place in America where a shopper can get help from a sales clerk. (Actually, there is McGuckin’s Hardware Store here in Boulder, where the staff is famously helpful. But Nordstrom’s is probably in more dire need of a shot in the arm, having reported a sales decline of 6.6% in January.) Nordstrom’s does more things right than just about any other retailer that comes to mind. The floor personnel know the merchandise and they are always eager to please. Moreover, customers get the benefit of the doubt on all merchandise returns. Can a retailer that bends over backward to please customers survive in this day and age?
We certainly hope so, although we are not optimistic about it, even with the stimulus package on its way. The $167 billion “rescue plan” cleared the Senate yesterday after getting bogged down by the usual haggling over who whose ox would get gored. This time, at least, the dollar benefits appear to have been targeted mainly at the middle class, with a sprinkling of pennies from heaven for those who don’t much pay taxes. The biggest checks will be for $1,200, the smallest for $300. Just another redistributionist scheme? Not exactly, although no one we know of in the mainstream press has called it by its correct name: a loan. You see, the U.S. Government will have to borrow the money from somewhere, and that means taxpayers will be on the hook to cover interest and principal down the road. Let’s hope the economy is going great guns by then, since the $167 billion hit plus interest could otherwise slow things down quite a bit.
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Who Needs a Guru?
The Hidden Pivot seminar scheduled for February is full, so I’ve added an additional session on March 8-9. If you’d like to attend, click here for further details and instructions on how to register. The class will be held on Saturday/Sunday from 9:00 a.m. to 12:30 p.m. Mountain Time. If you want to learn how to forecast stocks and commodities as confidently and precisely as top pros, this is an opportunity you should not pass up.
Oz-Hours Class
I will also be offering a class in February that is tailored to the scheduling needs of students from Australia, New Zealand and Singapore. If you live in Sydney, this seminar will take place on February 21-22 (Thursday and Friday), from 3:30 p.m. to 7 p.m. These hours will also work for early risers in Western Europe. For further details, click here. You can also register directly by clicking here, then on the “Upcoming” tab.
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Information and commentary contained herein comes from sources believed to be reliable, but this cannot be guaranteed. Past performance should not be construed as an indicator of future results, so let the buyer beware. Rick's Picks does not provide investment advice to individuals, nor act as an investment advisor, nor individually advocate the purchase or sale of any security or investment. From time to time, its editor may hold positions in issues referred to in this service, and he may alter or augment them at any time. Investments recommended herein should be made only after consulting with your investment advisor, and only after reviewing the prospectus or financial statements of the company. Rick's Picks reserves the right to use e-mail endorsements and/or profit claims from its subscribers for marketing purposes. All names will be kept anonymous and only subscribers’ initials will be used unless express written permission has been granted to the contrary. All Contents © 2008, Rick Ackerman. All Rights Reserved. www.rickackerman.com
-- Posted Friday, 8 February 2008 | Digg This Article | Source: GoldSeek.com
