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Old 11-23-2008, 09:35 PM   #8
Humble Janitor
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Default Re: Attention. Bankrupcy Planning.

Originally Posted by Northern Boy View Post
Well I think its true I get a newsletter from Martin Weiss and he says the same thing this is from his newsletter I received on Nov 19 2008.
Here’s the latest:

EARNINGS VANISHING: Nordstrom, Saks Fifth Avenue, Tiffany, Lowes, Target and many other retailers have all issued some of the most disturbing earnings warnings in history.

SALES CRATERING: Kohl’s sales slumped 11% in October. Macy’s sales fell 7.9%. At Nordstrom, sales plunged more than 15%. At Saks Fifth Avenue and Gap, sales plummeted 16% and 17%, respectively. Neiman Marcus sales cratered a staggering 28%.

FIRE SALES EVERYWHERE: Cash-strapped retailers are slashing prices to the bone just to survive. American Eagle, Ann Taylor, Chico’s, Soma, Gap, Victoria’s Secret, Bath & Body Works, Talbots, J. Jill and many others are offering such deep discounts, they’re already sabotaging their own holiday sales even before the season begins.

HUNDREDS OF STORES CLOSING: Mervyn’s is liquidating its entire inventory at 149 stores it’s closing. The now-bankrupt Circuit City is closing 155 stores. Linens ‘n Things, Steve & Barry’s and many other chains are also closing hundreds of stores nation-wide.

And now, just when retailers thought the news couldn’t get any worse ...

Moody’s Warns:
Massive Epidemic of Company Bankruptcies Ahead!

Yesterday, Moody’s rocked Wall Street and Main Street alike, warning that — because consumer spending has now stalled — 14% of ALL major U.S. companies are on the verge of BANKRUPTCY.

That’s an all-time high — the greatest number of endangered firms since Moody’s began keeping records!

As you well know, ratings agencies are infamous for their overly optimistic reports. So when Moody’s says you should brace yourself for an epidemic of corporate bankruptcies, you’d better hang onto your hat!
I get it.

I don't shop much anyway so I don't see this affecting me much. Unless Wal-Mart or K-Mart go totally out of business. I only rely on both to find clothes that fit, as much as I detest Wal-Mart.
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