Economy/Business question

[GPK]

Those of you whose business depends a great deal on peoples discretionary income, how much is your business down compared to LY?

[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

[Mortimer]

Me no scam consumer.

[skippy3481]

Kev my stores are up 4 percent I think it all depends what area of business your in. Some businesses are chugging along while some are off 40 percent.

[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.

[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

[herkhorse]

Originally Posted by GPK

Those of you whose business depends a great deal on peoples discretionary income, how much is your business down compared to LY?

I mine and sell quartz crystals for a living, very much discretionary. U.S. business is way down, but fortunately for me 90% of my customers are from Europe or Japan. The last 2 years have been great. With the value of the U.S. dollar being so low, my foreign buyers get way more bang for their buck, and are spending more than ever. Just 5-10 years ago it was the other way around, and they were the ones complaining. My cost of production however is WAY up, and may become a problem in the next few years. (Might be time to get a real job)

[GPK]

Originally Posted by herkhorse

I mine and sell quartz crystals for a living, very much discretionary. U.S. business is way down, but fortunately for me 90% of my customers are from Europe or Japan. The last 2 years have been great. With the value of the U.S. dollar being so low, my foreign buyers get way more bang for their buck, and are spending more than ever. Just 5-10 years ago it was the other way around, and they were the ones complaining. My cost of production however is WAY up, and may become a problem in the next few years. (Might be time to get a real job)

Interesting, thanks. What has been the leading cause of your production cost increasing?

[herkhorse]

Mainly the cost of diesel fuel.

[GPK]

Originally Posted by herkhorse

Mainly the cost of diesel fuel.

I don't ever have much reason to pay attention to the price of diesel...but what is it where you are? $5.00-$5.25?

[Mortimer]

I think he walked down to the station to find out for ya.

[herkhorse]

It varies, but yeah about 5.00. We have a compressor, 2 backhoes, a loader, and a dump truck so it adds up fast.

[DogsUp]

I talked to a colleague and she said her patient numbers are down 22%. She is a PA in a family practice. Sad when the health of people suffer.