Monday, February 9, 2009
Kotz News from the Depression: 15 Companies That May Bite it This Year
Posted by Pete Kotz on Mon, Feb 9, 2009 at 2:00 PM
It goes on to pick the 15 top candidates for death, a rather scary list of name-brand concerns. There's the obvious companies like Chrysler and Blockbuster, whose management badly misjudged their respective industries. But others include Rite Aid, Sbarro, Six Flags, Krispy Kreme, and Sirius Satellite Radio.
Even two casino companies make the list: Station and Trump Entertainment Resorts. How a casino actually goes broke is beyond me. But it may offer a rare upside to these nasty times: We may be finally ride of The Donald. Stock in his company has fallen by 94 percent.
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Donald Trump's (aka The Donald) Hair will be closing for business by this summer. It's been a great ride but it's been living high on the hog for far too long. Like the mortgage business, unnatural forces have been propping it up and now the debts are coming due.
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so very badly do the folks want to call this a depression. couldn't wait for it to actually be a recession before they labled it as such.. now that we've arrived, i guess "recession" has lost all of it's cache.
makes the kiddos feel like they'll be part of history somehow i suppose.
Unemployment during the depression was about 20 percent higher than it is now. In fact, unemployment during the recession of 82 was about five points higher.
So let's not get ahead of ourselves.
The following graph doesn't take into account the recession of '82, Simple Facts, but I do think it provides good visual proof for that whole "we haven't yet seen the bottom" argument.
http://andrewsullivan.theatlantic.com/the_daily_dish/2009/02/some-context.html
