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Earlier this week, Smith & Wesson’s stock rallied as Obama announce he would send more of our troops into Afghanistan.

Now, despite the promise of a full out world war, shares are dropping thanks to a horrible outlook.

Smith & Wesson said it expects third quarter revenue of $90.0 million to $95.0 million.

The current consensus estimate is revenue of $104.8 million for the quarter ending January 31, 2010.

The stock closed at $5.27 yesterday and is currently holding steady at $4.37, a 17% dip!

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See Also:

• Take Two Interactive Plunges After Horrible Outlook (TTWO)
• This Chart Says The Gun Bubble Is About To Burst (SWHC)
• Obama Takes Squishy Middle Ground On Afghanistan

The economic downturn has taken its toll on the retail sector, even online but one bright spot, at least in Europe, has been private sales clubs, which have taken off in recent years. One of the most promising companies of this type is Vente-Privee, a French one, which is seeing some serious revenue numbers these days. Traditionally, if you can use this term for a market that is barely a decade old, e-commerce outfits have been very interested in the space and it looks like Amazon may be getting close to acquiring Vente-Privee for around $3 billion, according to TechCrunch.

Vente-Privee isn’t confirming anything officially but it looks like the two companies are closer to finalizing negotiations. They haven’t agreed on a deal yet but are apparently converging on a price of around 2 billion Euros. Xavier Court, Vente-Privee marketing director, told TechCrunch about the rumored sale that it was “very flattering but not true at all.”

Business Insider cites other sources saying that, even though the two companies have been in talks for the past year, a deal is not near completion at this point although it may come at a later date. Rumors about an acquisition have been going around for a while now and it’s said that companies like Amazon, eBay and Gilt, a private shopping US startup… (read more)

It has been an interesting year for me. I was laid off from my day job in March, and instead of letting a little thing like unemployment slow me down, I threw myself into the kitchen, teaching myself new skills. I learned how to can, I spent more time foraging for mushrooms with my local mycological society, and I immersed myself into Japanese cuisine. Here are my favorite posts from The Kitchn from this year.

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There’s a way of transferring funds that is even faster than electronic banking. It’s called “marriage”.

Since the dawn of the mortgage pipeline, probably during the Paleozoic Era, companies who are concerned about managing their risk have struggled with the issue of how best to keep it clean. Specifically, what is the best way to eliminate expired locked loans, or loans that have already closed somewhere else, in their pipeline? As anyone in Secondary knows, hedging a loan that won’t fund makes no sense whatsoever, but it is rarely a priority for agents to cancel out loans on their own. Many wholesalers have specific policies designed to limit “excess baggage”, and companies typically put in an automatic system to gradually phase out including loans that haven’t moved through the pipeline in timely manner.

The latest change comes from Wells Fargo, although they mainly address extensions. Back on 11/9 “for all loans, if you wish to extend the expiration date on a loan, you must lock the loan in order for the commitment to be extended. Wells Fargo Wholesale Lending will no longer allow the submission of updated documentation to extend the commitment on unlocked loans.

more news on Wells Fargo, MGIC, Comerica Bank, GNMA buyouts, HUD letters on condos, mortgage rates, the economy, and joke of the day <<< CLICK HERE

DENVER (Dec. 2, 2009) – Colorado’s small communities are going green, thanks to the Colorado Municipal League (CML) and a generous gift from the Walmart Foundation. The University of Colorado Denver plans to expand a community outreach program to help Colorado’s smaller towns and cities conduct urban infrastructure reviews and greenhouse gas evaluations, followed by the development of customized action plans to reduce their carbon footprints. The $30,000 Walmart gift will help offset the costs of conducting the reviews in Colorado communities with populations less than 35,000. The Colorado Municipal League is assisting in connecting these communities with UC Denver.

“Sustainable energy and infrastructure planning can help save money, protect the environment, and build vibrant communities across Colorado,” said Anu Ramaswami, PhD, professor of Environmental and Sustainability Engineering and director of the GAANN and IGERT programs on Sustainable Urban Infrastructure <http://thunder1.cudenver.edu/IGERT/>  at UC Denver. “It is often difficult for a community to know how to get started on developing a sustainability plan; this grant is helping us to conduct outreach so we can help Colorado communities become leaders in sustainability.”

The outreach program offers carbon footprint measurement and sustainable energy benchmarks for individual communities, along with future scenario models and customized sustainable infrastructure action matrixes. The carbon footprint baseline helps measure and benchmark how much energy is consumed in various essential sectors such as buildings, industry, transportation, waste management, water treatment, food production and infrastructure materials. The benchmarks allow communities to track their progress in energy efficiency, conservation, and use of renewables, while the scenario models allow communities to envision their future with and without sustainable actions. The action matrixes give a variety of options for each community to consider, taking into account public participation, cost, long-term monetary savings, and long-term energy savings.

“UC Denver is pleased to partner across private industry, government and the non-profit arena to support Colorado’s small and rural communities as they work to create more sustainable infrastructures for their citizens,” said UC Denver’s Chancellor M. Roy Wilson.

The Walmart Foundation gift, facilitated by the University of Colorado Foundation, is the first for a planned collaborative center at UC Denver that will focus on research, teaching and outreach programs with a spotlight on sustainability and sustainable infrastructure development. UC Denver’s Center for Sustainable Infrastructure Systems <http://thunder1.cudenver.edu/IGERT/center.html>  will be anchored by UC Denver’s College of Engineering & Applied Sciences and will partner with the School of Public Affairs, joining engineers who design innovative technologies with experts who look at implementation and public policy solutions. UC Denver’s other schools and colleges will likely join the collaboration as the center grows.

Towns and cities in Colorado that are scheduled to work with UC Denver’s sustainable infrastructure experts include Golden, Dillon, Fowler, Eagle and Steamboat Springs/Routt County, Colo. This work builds upon UC Denver’s research and outreach in sustainable urban infrastructure conducted over the last five years in partnership with other Colorado cities such as Denver, Broomfield, Arvada, Aurora, Central City and Durango.

“Walmart is very proud to be partnering with the Colorado Municipal League, UC Denver and these towns,” said Joshua Phair, senior manager of Public Affairs and Government Relations for Walmart Stores, Inc. “Our hope is that this program brings cutting-edge knowledge to all corners of the state to help make Colorado’s communities more sustainable.”

The innovative community outreach program at UC Denver was initially launched in 2005 through a GAANN (Graduate Assistance in Areas of National Need) award from the U.S. Department of Education. The initial award to UC Denver’s College of Engineering was used to foster innovative research and curriculum to address sustainable urban infrastructure in U.S. cities – recognized as an area of national need. That initial grant was followed by a $3.2 million Integrative Graduate Education and Research Traineeship (IGERT) <http://thunder1.cudenver.edu/IGERT/about.html>  grant from the National Science Foundation. The resulting work done by UC Denver’s sustainable infrastructure research team is estimated to have directly affected more than 1 million people across the state.

The Center for Sustainable Infrastructure Systems at UC Denver will focus on five major areas of research and service related to sustainability:

• Measuring sustainability baselines via tools developed by UC Denver’s faculty/researchers and students (carbon footprints, greenhouse gas emissions, etc.);
• Developing innovative technologies and designs for sustainable infrastructure systems;
• Coordinating strategic planning and policy for creating and implementing sustainable infrastructure systems in cities;
• Designing public participation and engagement processes; and
• Assessing and implementing outcomes of urban sustainability projects.

For more information about the upcoming Center for Sustainable Infrastructure Systems, please visit www.cudenver.edu/IGERT.

About UC Denver

The University of Colorado Denver <http://www.ucdenver.edu/>  offers more than 120 degrees and programs in 13 schools and colleges and serves more than 28,000 students. UC Denver is located on the Denver Campus and the Anschutz Medical Campus in Aurora, Colo. For more information, visit the UC Denver Newsroom <http://ucdenver.edu/about/newsroom/Pages/Newsroom.aspx> .

About CML

CML is a nonprofit, nonpartisan organization established in 1923 and represents the interests of 262 cities and towns. For more information on the Colorado Municipal League, please visit www.cml.org or call 303.831.6411.

Henry Blodget, Editor-in-Chief, The Business Insider

Your Economic-Market-Investing Questions (4 min):

• How do you invest personally?
• Is the recession really ending?
• Does Megan McArdle work for the site now?
• If Conan is the new Oprah, are you the new Drudge?
• When are you going to add more great features to the site?

Produced By: Kamelia Angelova & William Wei

More Video: TBI Calendar Click HERE >

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See Also:

• Bob Farrell’s 10 Rules For Investing
• 10 Brands That Will Disappear In 2010

Filed under: Concept Cars, Coupe, Hybrid, Geneva Motor Show, Infiniti, Luxury

When we first laid eyes on Infiniti’s Essence concept at this year’s Geneva Motor Show, we were, quite frankly, smitten by its voluptuous lines. We apparently weren’t alone, as Infiniti exec Ben Poore has reportedly told Motor Trend that reaction to the concept was “phenomenal.” When the Essence was unveiled, Infiniti told the audience at Geneva that the vehicle was concept-only and that future vehicles would be influenced by its stunning design. We were a bit disappointed by that news, because, of course, the world can never have too many stunning twin-turbo V6 hybrid coupes capable of a combined 592 brake horsepower.

But while we were let down by Infiniti’s initial decision on Essence, we’re at least encouraged by the fact that Poore recently told MT that that the concept is “only a show piece… for now.” Could that mean that we could have a production vehicle based off of the Essence in the future? We hope so. Will it have a twin-turbo 3.7-liter V6 with a lithium-ion backed disc-shaped electric motor? Perhaps not, but we wouldn’t exactly be disappointed if it did.

[Source: Motor Trend]

REPORT: Infiniti still mulling production Essence coupe originally appeared on Autoblog on Fri, 04 Dec 2009 11:28:00 EST. Please see our terms for use of feeds.

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This blog that I’m writing today is partly in reaction to a post that appeared in sustainablog titled, “Will Hydrogen Power Suck the Lakes Dry?” and partly because this is one of the most frequently asked questions I get. For some reason, people think that going to a hydrogen based economy will cause a water shortage.

According to the National Hydrogen Association, “Conversion of the current U.S. light-duty fleet (some 230 million vehicles) to fuel cell vehicles would require about 110 billion gallons of water / year to supply the needed hydrogen.

“For comparison, the U.S. uses about 300 billion gallons of water/year for the production of gasoline, about three times the amount needed for hydrogen. Domestic personal water use in the United States is about 4800 billion gallons/year.”

So, no, creating hydrogen for cars or using hydrogen in power plants will not suck the oceans, lakes and rivers dry. But, the estimates of water usage for hydrogen production could actually be lower than projected.

I’ve talked before about whether the steam emissions from hydrogen cars will contribute to greenhouse gases. In the same blog post I talked about how research was underway to recycle this steam back into the fuel cell.

There are also a number of patents such as this one that talks about water recycling in fuel cell systems. On a larger scale at hydrogen power plants, there are also patents for closed loop and semi closed loop systems for recycling water.

The U. S. Department of Energy (DOE) also lists four different methods for high temperature steam recycling at hydrogen power plants. If hydrogen were created at the pump through electrolysis and fuel cell cars captured and stored extra water from the fuel cell reaction, this could be dispensed right back at the hydrogen stations for recreation of compressed H2 gas.

As people learn more about hydrogen, naturally questions and especially fears arise. Fears of hydrogen cars blowing up like atomic bombs or fears of either running out of water or water emitted from fuel cells contributing to greenhouse gases are common. But as these fears are dispelled many people come to see that hydrogen is the clean, green fuel of the future that will solve many environmental problems along with our dependence on foreign fossil fuels.

Yesterday, I mentioned one criticism of Bernanke’s tenure as Federal Reserve chief — that he isn’t focusing enough on curbing unemployment. Another common one is that he (and his predecessor) failed to pop the real estate bubble before it grew too large. Didn’t some of those brilliant economists at the Fed fear that a gigantic housing bubble was forming? Should they have taken the initiative to pop it before it grew large enough to bring about a massive financial crisis?

These questions were asked to Wall Street Journal economics editor David Wessel in an interview with the Big Think as part of its special series on the financial crisis called “What Went Wrong?” The series consists of several weeks of interviews of figures in the financial industry.

In answering a question about how the Fed failed to see the housing bubble, Wessel touches on the broader question of how it should act when it notices a bubble forming:

I think that when you go back and look at what was going on inside the Fed, there were people who warned that this was a housing bubble. But, they were not convincing and the reigning view at the Fed was, even if it is a bubble, we shouldn’t interfere with it. We should let the markets do their thing and if it bursts, it will be as Bernanke and Paulson said in late 2007 even, it’ll be contained. And they were comforted by the fact that when the tech stock bubble had burst earlier in the 2000’s, it had done a lot of damage to people who had bought a lot of internet stocks, but it hadn’t really done a lot of damage, lasting damage, to the economy. And so they looked at it as they looked at that. So, it was not only a failure of analysis, it was failure of ideology in the best sense, a world view that led them to believe that even if there was a housing bubble, they shouldn’t do anything.

Of course Bernanke and everyone else who was taken seriously at the Fed were wrong that a housing bubble wouldn’t be that big of a deal. But I think Wessel’s point about what the Fed learned form the tech bubble misses something. I believe it goes beyond the Fed’s observation that the tech bubble did not causing much lasting economic destruction.

In fact, the Fed played a part in popping the internet bubble. Consequently, many blamed the Former Fed Chairman Alan Greenspan for causing the recession that followed. And the anger in the market that resulted from that action might have been what prevented the Fed from treating the real estate bubble far less aggressively. I don’t think the “failure of ideology” was based on theory or principle, but on appeasing the market. (See the end of this post for additional analysis of these two bubbles and the Fed’s actions.)

But really, there was an even graver problem here: ideology might have been trumped if the Fed’s analysis was better. An industry specific equity bubble is fundamentally different from a housing bubble — not realizing that was its “failure of analysis.” For starters, all investors know growth stocks contain a lot of risk, but real estate was historically touted as the safest of assets, almost never decreasing in value. There also wasn’t a trillion dollar asset-backed market based on tech stocks, with its highly-rated bonds having complex structures that investors didn’t fully grasp.

When tech stocks went bad, investors lost money, some dotcom’s failed, and that was it. It didn’t really affect Main Street. But you can’t get much more Main Street than houses. Yet, Wall Street was even more deeply entrenched due to mortgage-backed securities and other structured products. And then investors panicked, because they didn’t understand those assets or know how much of banks’ portfolios were bad from toxic securities. That’s why a housing bubble turned out to be far more dangerous than a sector-specific equity bubble.

Clearly, the Fed miscalculated just how interconnected the housing market was and the kind of fallout that would result when prices declined nationally by over 30%. But that’s a justified correction, given how irrationally home values had risen. The Fed should have behaved like it did with the tech bubble, and prevented the housing bubbles from inflating as soon as home prices were clearly increasing far more rapidly than history has proven to be reasonable. Unfortunately, I think the Fed was uncomfortable doing so, because it did not want to be held responsible for causing another recession. In the retrospect a little recession in 2005 would have been quite a bit less painful than a financial crisis three years later. Of course, hindsight is always 20-20.

—

Additional analysis of the two bubbles:

In mid-1999, the Federal Reserve began slowly raising the Federal Funds Rate as the internet bubble inflated. Eight months later, the internet bubble began to pop. At that time the Fed continued raising rates another point from 5.5% to 6.5%, where it left it for six more months. During that time period, the Nasdaq lost over 50% of its value. The diagram below shows this:

Of course, many people were quite angry with the Fed. Some blamed Former Fed Chairman Alan Greenspan for causing the recession that followed. Let’s compare what happened with the tech bubble and the housing bubble. Here’s a similar graph with S&P/Case-Shiller’s U.S. national housing price index versus the Federal Funds Rate:

(I apologize for the smoothness of the Fed Funds curve — it should be a step function. But since the housing index was only quarterly, I couldn’t get it any more exact in Excel.)

As you can see, the housing bubble was allowed to take off to a far greater extent than the internet bubble did. From Q1-2002 through Q2-2004, the Fed was decreasing the rate or leaving it constant. Meanwhile, the index shows housing values having increased by 30% over that period — in just nine months. For the next six months rates increased, but still remained relatively low, not to exceed 4% until December 2005 — as the index increased an additional 22%. But as the internet bubble grew in 1999 through mid-2000, rates started at 4.75% and increased to 6%, then left at 6.5% for six months even after the tech market’s collapse.

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See Also:

• Bob Farrell’s 10 Rules For Investing
• 10 Brands That Will Disappear In 2010
• Goodbye!

---

A friend and I were talking the other day and the subject of music came up when I expressed that a Teen Panel had voted healthy and unhealthy songs for teens. I thought it was interesting that teens were doing this, she was concerned about censorship.

This got us talking about different things dealing with both of these and I thought I’d come to you and hear your opinions.

–  How do you feel towards censorship? (especially with music and shows) As far as I’m concerned as a parent we must watch what we teach our children, this includes the things that could influence them.

Now that you’ve answered (or thought about) the above how many of you pick what your kids are allowed to watch and listen to? I will not lie, when we had cable certain shows were not allowed on television. I can’t stand shows that teach kids about things I don’t even want to talk with them about and the same thing goes for the language used. When Miley Cyrus started doing all her “bad girl” moments I banned her from my tv. We even ban certain music in our house, so yes I do censorship, but I also call it a “parent’s right.”

–  Do any of you ban certain shows or music in your house?
–  Should teens/preteens/younger be able to listen to whatever they want?
–  If you do, isn’t this considered censorship in a way?  What do you think?

Post from: Blisstree

How do You Feel Towards Censorship?

Looking at this chart from the Bureau of Labor Statistics, one can see that worker productivity has shot up during 2009 as more and more employees were forced to pick up the work left by their fired co-workers:

BLS: Nonfarm business sector labor productivity increased at an 8.1 percent annual rate during the third quarter of 2009. This was the largest gain in productivity since the third quarter of 2003, and reflects a 2.9 percent increase in output and a 4.8 percent decline in hours worked.

In the third quarter of 2009, nonfarm business productivity was revised down from 9.5 percent to 8.1 percent, reflecting a downward revision to output and an upward revision to hours.

Join the conversation about this story »

See Also:

• JP Morgan To Hire 1200 Loan Officers (JPM)
• The 10 Hardest Cities In Which To Find A Job
• Jobless Claims Down, Productivity Soars!

Well, here’s another anti-IE6 (Internet Explorer 6) article to go with the 254,000 I found on Google recently. While many of IE6’s detractors are web designers or web developers, we can certainly put on the board some greater flaws in Microsoft’s browser than the extra amount of working hours put by professionals to optimize websites for it.

In the past, several security vulnerabilities plagued the browser in the eyes of a lot of industry experts, many of them actively recommending some of IE’s rivals as more secure browsers to use.

There are many news articles across the web, which report on vulnerability flaws. For example, this one on The H Security, or Computer World. Let’s not even explore our Security or Microsoft news sections that are full with all kinds of Internet Explorer 6-related stories.

In the past few years, IE6 has revealed many security flaws that had serious consequences on user privacy. From ActiveX holes to SSL certificates, from drive-by installs to code injections, IE6 managed to get itself time after time, year after year in Secunia’s Security Report.

But all bad things lead to something good. While constantly trying to improve on its browser’s security, Microsoft’s later products have been recognized as some of the safest environments for Internet browsing these days, as an NSS Labs… (read more)

Discover four tips that can help those with Hepatitis C avoid additional liver damage from the high percentage of toxins found in wintertime indoor air.

by Nicole Cutler, L.Ac.

According to the Environmental Protection Agency, a growing body of scientific evidence indicates that indoor air is more seriously polluted than outdoor air – even in the largest and most industrialized cities. Because pollution is toxic to the liver, those with Hepatitis C are especially vulnerable to polluted indoor air. Furthermore, the time typically spent indoors during the winter increases someone with Hepatitis C’s vulnerability to indoor air toxins during the colder months.

Depending on the health issues of each individual, exposure to environmental pollutants poses varying degrees of risk. Unfortunately, those with Hepatitis C are more susceptible to liver damage from environmental toxins because:

· Their liver isn’t working as efficiently, so toxins normally processed by the liver remain in the body longer than usual. With toxins lingering in the body longer, those with Hepatitis C are more likely to incur cellular damage from the toxins.

· When toxins cause injury to liver tissue, healthy livers typically rejuvenate quickly. However, those who already have liver damage from Hepatitis C are likely to have a much harder time recovering from toxin-causing injury.

The primary causes of indoor air quality problems in homes are from sources that release gases or particles into the air. Another prime culprit of indoor air pollution is inadequate ventilation – by not bringing in enough outdoor air to dilute emissions from indoor sources and by not carrying indoor air pollutants out of the home.

Homes contain many sources of indoor air pollution, including:

· Combustion sources like oil, gas, kerosene, coal and wood
· Tobacco smoke – and its toxic aftermath
· Building materials and furnishings like asbestos-containing insulation and cabinetry or furniture made of certain pressed wood products
· Household cleaning and maintenance products
· Central heating and humidification devices

As a result of dropping temperatures outside, many of us spend greater amounts of time indoors. Due to the fact that windows and doors are usually sealed tight during the winter to conserve energy, the concentration of indoor air pollution always increases during this time. Since those with Hepatitis C are more susceptible to indoor air pollution, the following four tips can help minimize the toxins breathed in each day:

Tip 1. Plants – NASA researchers found that common houseplants effectively purified the air in spacecraft. Household plants can remove common chemicals from the air, such as formaldehyde, benzene and carbon monoxide. Peace lily, bamboo, palm, English ivy, mums, golden pothos, nepthylis, spider plant, snake plant, aloe, philodendron and gerbera daisies are among the top air-purifying plants.

Tip 2. Low VOC Paint – Volatile organic compounds (VOCs) are plentiful in paint and are a known lung, liver, kidney and central nervous system toxin. If repainting a room is on your to do list this winter, choose one with low VOCs.

Tip 3. Replace Heating System Air Filter – Replacing a standard air filter with one that is pleated and electrostatic will capture more pollutants from a furnace’s forced air. Experts suggest using a minimum efficiency reporting value (MERV) rating of 10 or higher.

Tip 4. Choose Cleaners Wisely – Cleaning products are known to harbor some of the most hazardous chemicals known. While several environment-friendly companies now offer toxin-free cleaning products, there are also many ways to make your own safe and effective cleaners.

Because many are cooped up inside, winter is definitely a time for those with Hepatitis C to be aware of indoor air pollution. The increased demand that indoor air pollution puts on the liver is best averted by reducing the amount of airborne pollutants in your space. Simple steps like adorning your living area with several houseplants, using low VOC paint, putting a new, pleated, electrostatic air filter in your heating system and using toxin-free cleaners all add up to improved indoor air quality. By reducing indoor air pollution, those with Hepatitis C can emerge in the spring unscathed by wintertime indoor air.

References:

http://www.care2.com/greenliving/simple-steps-to-clean-your-indoor-air.html, Simple Steps to Clean Your Indoor Air, Retrieved October 17, 2009, care2.com, 2009.

http://www.epa.gov/iaq/pubs/insidest.html, The Inside Story: A Guide to Indoor Air Quality, Retrieved October 17, 2009, United States Environmental Protection Agency, 2009.

http://www.hepatitis-central.com/mt/archives/2009/04/cleaning_safety.html, Cleaning Safety for Hepatitis C, Nicole Cutler, L.Ac., MTCM, Natural Wellness, 2009.

Paul, Nina L, Gina Pollichino, Living with Hepatitis C for Dummies, Wiley Publishing Inc., Hoboken, NJ, 2005; 158.

Montreal is really moving up on the gaming density. As of THQ’s latest announcement, the city will be home to yet another development studio. This won’t be just another studio, for the publisher, plans have it that

Filed under: LA Auto Show, Coupe, Budget, Sedan, Etc., Kia

With a brief press release and a trophy handoff at the LA Auto Show, car pricing authority NADAguides.com has heaped the first of what we could be many accolades upon the stylish and affordable 2010 Kia Forte and Kia Forte Koup by naming the duo their Car of the Year for 2009. Citing the pair’s “best in class” features and stylish interior and exterior design, the group said these Kia compacts were standout vehicles in a pretty impressive field. Other contenders for the crown included such significant and praiseworthy vehicles as the Ford Fusion Hybrid, Mercedes-Benz E350 and Nissan 370Z Roadster.

In our own review of the Kia Forte, we praised its styling, build, layout and performance, and especially its budget-minded pricing, so we see where NADA is coming from. Sometimes, we have to scratch our heads a bit when one of these sorts of awards are announced, but in this case, we certainly think the cars are deserving.

[Source: NADAguides.com]

Continue reading LA 2009: 2010 Kia Forte and Forte Koup crowned NADAguides.com COTY

LA 2009: 2010 Kia Forte and Forte Koup crowned NADAguides.com COTY originally appeared on Autoblog on Fri, 04 Dec 2009 10:59:00 EST. Please see our terms for use of feeds.

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Yesterday David Bodamer noted how final November retail numbers were clearly a disappointment, as analyst estimates proved way to optimistic.

Deutshce Bank retail analyst Bill Dreher takes a stab at what happened, and though he kind of blames the weather, he’s clearly not comfortable with that excuse.

—–

Despite the month of November having the easiest compares of the year, every sub-sector
of Broadline retailing missed consensus expectations, including the Discount Stores (TGT),
Warehouse Clubs (COST & BJ), Drug Stores (WAG & RAD) and Department Stores (DDS, M,
JCP, and SKS).  

Going into today, we expected several department stores to post November sales that
missed Consensus estimates, and in particular we looked for weakness from Macy’s & Saks
(see “November Sales Update” published Tuesday). 
In addition, while JCP and SKS were very much in-line with our expectations and
management’s guidance, they missed consensus estimates and the print was poorly
received, with the stores down 3% and 5%, respectively, today.  

Weather was commonly considered the culprit, as most of the country did not have
seasonally appropriate temperatures.  We understand how weather would limit apparel sales,
and we can even appreciate how the unseasonably pleasant weather would cause a modest
flu season limiting the Drugstore comps.  

What causes us to be incrementally concerned are the misses from the Warehouse clubs
and Target; how did the weather contribute to these sales misses? Food deflation clearly
would aggravate the sales sluggishness for these retailers, but that doesn’t seem to be
enough to explain the results.  Perhaps we will need to wait for Kroger results this Tuesday
for additional color on this food inflation & Wal-Mart pricing umbrella issues.  

The overall take away from today has to be incrementally negative. Unless Wal-Mart achieved
some surprisingly massive market share gains across all these sub-sectors of retailing,
today’s widespread sales weakness is a negative indication on overall consumer spending.  

Join the conversation about this story »

See Also:

• Final November Retail Sales Are A Huge Disappointment

Friendster, the social network which started it all, just got significant revamp with a design focused more on its demographic core at the moment, ahead of a possible sale by the end of the year. Barely a day after it revealed its new design, Reuters reports that the social network will be sold to an Asian investor for more than $100 million and the deal should be announced by the end of the year.

The company has been looking to sell for a while now, the latest rumor comes from last summer, but it had similar intentions as early as 2005. The social network became extremely popular very quickly after being launched in 2002. It didn’t last long though and soon MySpace, and later Facebook, would come fast from behind to steal the glory. Friendster is still pretty much alive, but its popularity in most parts of the world has dwindled to the point where its more of a historic footnote.

Friendster claims it has 75 million registered users at the moment, though how many of those are active users is a mystery, and that 90 percent of its current traffic comes from the Asia-Pacific region. This last part is the key part, as the social network is still going strong in this region and so far has managed to stay ahead of Facebook and other social networks. It’s not clear how long it can keep this u… (read more)

Press Release
December 4, 2009                                                      Contact: Frank Murray, 542-4835

The Columbia Basin College Autobody program will unveil the new Kadlec Regional Medical Center inpatient rehabilitation vehicle at a ceremony Monday, Dec. 7th, at 1 p.m. 

CBC received a donation of one of the Pasco Auto Wrecking’s ‘Cash for Clunkers’ vehicles.  The former SUV will be used to help patients rehabilitating from strokes and other disabilities to enter vehicles, adjust mirrors, put on seatbelts, and other procedures often taken for granted by most people operating a motor vehicle.

Seventeen CBC Autobody students worked on the project for about two weeks.  The vehicle will be transported to Kadlec on Monday, disassembled outside the medical center, and then reassembled inside the rehabilitation gym.

A CBC Autobody Advisory Board member told CBC Instructor Rhody Hayes of the Kadlec request and Hayes contacted Pasco Auto Wrecking which generously donated the vehicle.

Over the last couple of years, the movie industry has pushed hard for stricter and stricter laws for anyone caught “filming” a movie in the theater. Of course, these days, with more and more people having portable video cameras either in their mobile phones or other devices, the likelihood of these sorts of laws being abused or misused only grows over time. Take, for example, the case of 22-year-old Samantha Tumpach, from Chicago, who took her sister out for a surprise birthday party at a movie theater recently. While there, she used her new camera to tape parts of the event, including her, along with friends and family, singing happy birthday to her sister. But, in the course of all this, she also caught two small segments of the film itself, less than four minutes, total — hardly a representative case of “pirate” or “camcording” activity. Still, the theater pressed charges, and Samantha was arrested and spent two nights in jail — and may now face three years in jail as a felon. Good thing Hollywood got those laws, so they can get young women celebrating their friends and families’ birthdays put in jail.

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