Date: Fri, 14 Nov 2003 17:46:57 +0100
From: artefact-AT-t-online.de (Michael Eldred)
Subject: Re: FYI: Gestell/Gewinnst/WalMart


Cologne 14-Nov-2003

HealantHenry-AT-aol.com schrieb  Thu, 13 Nov 2003 19:54:50 EST:

> Nota Bene:
>
> "But retailing juggernaut Wal-Mart, based in Bentonville, Arkansas, is an
> economic indicator by itself.  An estimated 100 million people shop at its U.S.
> stores every week. The company takes in 6 to 8 cents of every U.S. dollar spent
> on retailing, excluding autos."
>
> Wal-Mart dumps cold water on U.S. economic bulls
> Reuters, 11.13.03, 2:07 PM ETrts
>
>  By Ros Krasny
> CHICAGO, Nov 13 (Reuters) - Economists and politicians giddy about prospects
> for U.S. economic growth got a dousing of cold water on Thursday from Wal-Mart
> Stores Inc. (nyse: WMT - news - people), the world's largest company.
>
> The retailer -- which taps directly into the psyche of the U.S. consumer --
> gave a downbeat economic outlook that contrasted with reams of recent data, and
> bluntly suggested that many of its shoppers are barely making ends meet.
>
> Customers continue to buy the cheapest items in any given category -- a sign
> that household budgets remain tight, Lee Scott, Wal-Mart chief executive
> officer, said on a recorded message.
>
> Buyers are "timing their expenditures around the receipt of their paychecks,
> indicating liquidity issues," Scott said.
>
> "I don't think consumer spending is slowing, but I also don't see the
> strength that many of you in the investment community appear to see," Scott said.
>
> Wal-Mart's sober outlook came after the U.S. economy enjoyed its fastest
> gross domestic product growth in almost 20 years in the third quarter and is
> seeing job growth after a years-long slump.
>
> But retailing juggernaut Wal-Mart, based in Bentonville, Arkansas, is an
> economic indicator by itself.
>
> An estimated 100 million people shop at its U.S. stores every week. The
> company takes in 6 to 8 cents of every U.S. dollar spent on retailing, excluding
> autos.
>
> "The Wal-Mart numbers leave open the question 'is this just a breather in
> consumer spending or is it the start of the long-awaited consumer spending
> recession?'" said Cary Leahey, senior U.S. economist at Deutsche Bank Securities.
>
> Wal-Mart's portrayal of financially strapped consumers highlighted worries
> about how spending would hold up once midyear federal tax stimulus -- chiefly,
> from child tax credits -- waned. ...
>
> [whole article here:]
> http://www.forbes.com/markets/economy/newswire/2003/11/13/rtr1147178.html
>
>

Buy on bad news.

_-_-_-_-_-_-_-  artefact text and translation _-_-_-_-_-_-_-_-_-_
_-_-_-_-_-_-_-_-_-_-_-_- made by art  _-_-_-_-_-_-_-_-_-_-_-_-_-_
http://www.webcom.com/artefact/ _-_-_-_-artefact-AT-t-online.de _-_
_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_ Dr Michael Eldred -_-_-
_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_-_






     --- from list heidegger-AT-lists.village.virginia.edu ---