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OK, I was the Bull three weeks ago, but as I said last Thur., I'm
reversing. I keep thinking about all the jobs that are still being lost
and the fear most everyone I talk to has about their employment. I was
even sent an email from the company I worked for, and they announced an
across-the-board wage cut of 10% and indicated that the policy of
warning employees of layoffs three months in advance was being cut to
one week. Under such circumstances, can consumer confidence hold up?
Vacation travel is still in great jeopardy; hotels are hurting
everywhere even though they're offering great incentive packages. This
is rippling forward to affect restaurants, taxi services, booking
agents, resort owners, and others in this industry. I'm sure home buying
will also be hurt, and this will affect all the secondary industries,
such as appliance and furniture manufacturers and retailers. With
diminished air travel, this has to impact sales, as well. The
entertainment industry is being hurt and the anthrax scare is causing
additional disruptions. I'm struggling here to see any positives. Am I
wrong or is this beginning to look like we have a real problem?
--
Ralph => E-mail => rjv@xxxxxxxxxx
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