Vacuum Cleaners Discussions

Early news reports in the USA are saying the London financial markets nosed dived today in the worse downturn ever.  This comes on the heels of a 4 percent drop in the Dow Jones Industrials last week alone.  Since today is a Federal Holiday in the US in observance of Dr. Martin Luther King the financial markets are closed.  Not sure what impact the London market fall will have on the US markets--have to wait to see.

What and how long will it take jaydee to realize that he needs to enter the low to middle price range vacuum market to stay competitive in the USA in the big box stores' venue?

Any news yet on the 2007 dyson sales? 

Carmine D.

Hi Carmine,

In my opinion, regardless of the stock market fluctuations, housing market, etc., people still need to get their floors and carpets clean.  They're not going to go without a vacuum for long, and will buy one, Dyson included.  I doubt it will affect any sales as we know it.  I could very well be wrong but this is the way I see it.

-MH

Motorhead wrote:

Add high gasoline prices and home heating costs to the scenario and consumers stopped spending, especially on high priced big box vacuums.  It is now generally believed by all, including Alan Greenspan, the former Fed Chairman, that the USA is in a full blown recession.  The retail sales for the Holiday season 2007 were the worse in 17 years.  Since the last recession of 2000-2001 which officially lasted 9 months.  Not very long.  Remember when dyson introed vacuums: April 2002, perfect market timing for the big box retailers' venue.  Why?  Jaydee partnered with BEST BUY stores to launch.  BEST BUY is one of the retailers who expanded after the 2000-2001 recession, at the expense of other stores that went belly up and/or got bought out.  BEST BUY prospered as a result.  Not this time.  Stock price is off and down in the double digit percentages in the last year. 

The current recession, unlike the last, has the added disadvantages of very high consumer energy costs (vehicle and home); the worse housing market since the great depression of 1929; and commodity prices [like gold] at historical highs.  Add the increased unemployment numbers and US businesses looking to cut back staffs and the current recession has the makings of being longer and more painful.

Not the economic environment in which big box retailers want to stock and sell $500 plus vacuums for their customers to buy.   Especially ones rated fair to middlin by Consumer Reports.  IMHO 

Any wonder now that the Sam's Club store didn't want to exchange the dyson lemon for a new one. 

Carmine D.

Our Canadian market dropped a big whopping 605 points today.  Biggest one day drop in the last seven years.  Now, it will be interesting what tomorrow will bring for the US and Canadian markets as we are  so closely related. 

Carmine, I agree with you, if the down turn is pronounced, people will foolishly flock to the dollar stores to purchase cheap inferior products, be it vacuums, clothing  etc., which will ultimately cost them more in the long run. 

Vernon

p.s. Mole, Carmine, nice seeing both of you back!!  Venson has been doing a good job of holding down the fort!!

Hi,

This should not be taken lightly.  If money in theory is money, whether we're talking London or Podunk, Iowa, the story is the same everywhere.  When financial markets take notable dips people get to wondering -- and worrying.  The organization I'm with is very, very small and independent and as long as our corporate clients buy we'll attempt to keep on keeping on as we have during the big drop in business since post 9/11.  Yet, there are no guarantees. The corporate structures we serve do get nervous and rein in on their spending.  The whole manner of our dealing with them has changed drastically.

Throughout the city and the country, many corporate organizations are known for making staff cuts when things look slim with little wait time.  Here in New York and surrounding areas rents are high, mortgages are high, gassing up hte car is high and forget the supermarket -- food's high too.  Also keep in mind people who have to foot part or all of their health insurance.  They do indeed think very carefully as to what's necesssary.  A less expensive anything easily gets first consideration despite even the most logical reasons to aim for the allegedly "high quality" item. 

There will not be many people you can talk into a four- or five hundred vacuum cleaner when they know they have no cushion budgetwise to accomodate the expense.  Expectations can lower surprisingly when you know the first of the month's in front of you and you only have x-amount available.  And forget about credit cards as they too list high in our debt issues.

Even a stick vac can look good in comparison to the "better brands" when you have to figure out how to pay for it.  What's saved may well be thrown into the next month's mortgage payment.  In light of the many unfortunate foreclosures coming to be daily all over the country. Except for the fortunate elite with the wherewithall to drop dough or get backing for the glut of million dollar or coops and condos springing up here in Manhattan, for most rent, mortgages and basics get first attention and vacuums can wait.

Venson

 PS -- I wanted to throw this in . . .

New York work rules . . . especially within the corporate environment.

The average worker in corporate or manufacturing environments is expected to do the same as any other worker elsewhere -- obey and accept.

The average worker must give notice if he or she is about to leave an organized business. However, the business or organization you're working for is not obliged to let on in advance that it feels it must say, "Bye-bye," nomatter how long you've been there.  Why? It might not be good for the business. It might lay itself open to sabotage by those being dismissed. Meaning the employee must trust an employer but the employer has to trust no one. It is not at all unheard of or illegal for a designated party from the company to simply show up at someone's desk and say, "Sorry, you're services are no longer needed. No, don't bother to pack. We'll send your stuff to you."

Next -- no matter what, if you want to survive, come a job interview you may not make mention that the company you worked for so callously made you "redundant" despite x-years of rendered service just because things were looking a little slack financially. At your next job interview you may only say what a wonderful experience it was to work for the So-and-so Corporation and how ready you are for new challenges. (Pass a barf bag please.)

Yet . . . such things make for many thoughtful spending decisions by shoppers here and everywhere day to day.

Vernon wrote:

Hello Vernon:

Hope the Canadian market downturn didn't affect you in the pocketbook.  My sense is there is more of the same to come in the months ahead.  Sadly but I think true.

Thanks for the kind words. 

Carmine D.

Hi Vernon,

I thank you too.

Venson

HiVernon,thanks for the kind words.

GO GIANTS.........

MOLE

Another sort of hidden hurdle are the amount of 50 somethings being hit with layoffs and releases. Usually a good target for upscale products, (established/home owners/pre-retirees/with more disposable income toward product vs younger toward entertainment). Normally in better days for Co's this would usually happen only to 64+ year olds...

Looks like the "decoupled" markets coupled up again.  US markets are roiled today by yesterday's market turns in the world.  Fed dropped rates 3/4 percent.  And my dear Wife has gotten TWO telephone calls TODAY from different credit card companies, whose cards we don't ever use, asking us to contact them about lower rates.  These were recordings.  I got a similar call last week from a real live person wanting to know what the company could do to get us to use its card, which we never do.  Can you imagine? 

Then again Obama's campaign called us 3 times in 2 days for the Nevada caucus last week.  In fact one call came from the Virginia Obama campaigners who apparently tracked us down all the way in LV.  Go figure.   

Carmine D.

Hi Lucky1,

Again the worm can turn in some mighty grusome ways.

The most memorable thing I was ever taught about the workplace was to make yourself indispensable and that held me in good stead for a time.  You'd think that assessments of the value and knowledge those who have genuinely applied themselves to being good at what they do would increase with age and be acknowledged. (Weren't we constantly reminded to respect our elders?)  Now it seems to be the other way round.  Despite the fact that we all need to eat, age and experience weigh in as little in human resources departments when your past fifty with a resume in your hand.  It is has become commonly assumed that job seekers past fifty will not at all be happy working for less pay or benefits and will bolt for the next higher paying job that comes up.  That might be true if there were that many other jobs around to bolt to. 

Despite accumulated knowledge, expertise, etc., the young'uns who of course have to eat too are the hot item as they are assumed to be prepared to work more cheaply and put in longer hours and, I suppose, bear a brighter medical picture to company funded health plans. 

Well, what the heck, we've still got our good looks.  Right???

Venson

Ben Bernanke flinched and the Fed cut rates 3/4 percent.  Largest in over 20 years.  He was working Monday at his Fed office despite the Martin Luther King Jr. Holiday.  He was watching the markets fall around the world.  But............did he panic?

The Fed has its usually scheduled meeting on Jan 30.  Why didn't it wait to cut rates by a week?  [Panic?]Because the markets were in free fall on Tuesday morning and decisive and immediate action was needed by the Fed.  Did I mention its an election year?

Yes, there has been a "dead" cat bounce on the markets.  But Fed interest rate moves are done to stimulate and regulate the economy for the long term NOT the fluctuations in global markets in the short term.  

What does the Fed do now on Jan 30?  Another interest rate cut is seen by all.  Two in one week?  [Panic?]  If it doesn't.............then what?  And if it does............is it inflationary?  Stagflation.  What a combo.  Not good for home product sales like high priced big box vacuums.

Carmine D.

Hi Carmine,

Don't want to get too far off the thread but have you heard anything about a plan to reduce foreclosures by dropping the size of mortgage payments?  Someone mentioned that to me in passing the other day and I want to be sure I heard right.  I am assuming, if there is such a thing, it would apply to home owners who were in dire straits and not able to make full monthly payments.  The bank's idea being, "Why foreclose and get nothing at all since real estate isn't moving anyway?

Thanks,

Venson

Venson wrote:

Hello Venson:

Here's some related info:

http://www.lvrj.com/opinion/14177627.html

http://www.lasvegassun.com/news/2008/jan/24/mortgage-crimes/

Carmine D.

Thanks Carmine.  Looks like there's no way to win and no way to help.

Venson

Hi Venson:

The recent Fed rate cut resulted in the big banks reducing their primes.  Of course, prime is for their best customers, not the homeowners with mortgage payments in arrears, default, and foreclosures.  BUT...if the homeowners work with their banks, mortgage holders, and/or lending institutions to "refinance" the existing interest rates downward, based on the recent Fed cuts and next week's pending drop, they may be able to keep the "wolf" away from the door.  At least temporarily to get them through the bad times, which at this point is uncertain in duration.

On a related vacuum note, the sale of HOOVER by Whirlpool to TTA probably happened at the best possible time for all parties involved including the vacuum industry.  If the sale was not consummated when it was, it is very likely it would have fallen through.  Then, HOOVER would have languished without serious business direction during these bad economic times and could have eventually faded away.

Instead, HOOVER under the tutelage of TTA has introduced new competitive floorcare products.  It Is advertising regularly in the papers.  And HOOVER products are stocked and advertised regularly by all the big box retailers.  From all outward appearances HOOVER sales are flourishing since the sale and takeover by TTA.  We'll see what happens in the months ahead.  

Right now, all the anti-HOOVER folks who were luxuriating over the HOOVER tribulations may be eating alot of crow.  Especially if HOOVER in concert with TTA becomes the number one new vacuum sold in the USA not just in units but dollar volume too.  It may happen and sooner rather than later.

Carmine D.

Please indulge me with the post script to this thread.  It now appears that the Fed Chief Ben Bernanke not only flinched and panicked with the January 22 interest rate cut but he was "bluffed" too.

By Friday, January 25, the consensus among all the people in the know was that the international financial markets' drop on Monday January 21, a national Holiday in the US to commemorate Martin Luther King Jr, had nothing to do with the US markets' fall the week earlier.  Notta.

The drops were a result of a low level rogue trader in a French bank who cost the company over $ 7 Billion in losses.  How?  By taking unauthorized positions and making fraudalent trades.  All of which should have been caught by internal control procedures which the 31 year old bank employee circumvented.  The estimated losses may reach over $70 Billion after the company unwinds the trades, which it was doing on Monday unbeknownst to the US Central Bank and the Fed Chairman.  And in all likelihood these trades caused the volatility and declines that rattled European markets on Monday, January 21 and the US market decline on Tuesday morning before the Fed cut the rate by 3/4 point.  The largest single rate cut in over 20 years!

Now, Benboy Bernanke has a perception and credibility problem. 

When Benboy called an emergency teleconference meeting of the Open Market Committee on Monday evening to twist the arms of the Fed Bank Chiefs to drop the rates, ALL but one agreed.  Who was the lone dissenter?  The Fed Bank Chief in St. Louis, Missouri.  The only one to vote "no" on the interest rate cut and say that the Fed should wait until January 30 [during its regular scheduled meeting].  Alas in our democratic scheme of things, majority rules even when the majority is wrong.  The Fed acted Tuesday morning and the rest is history.

If I were Benboy's boss, and I am not fortunate for him, he would have his resignation signed, sealed and delivered to me on my desk this Monday morning.  Two days before the regular meeting of the Fed Open Market Committee.  And Ben's successor would be................you got it.  The man from the St. Louis Fed Bank who bucked the trend. 

Carmine D.

Most economists predict rough economic times ahead.  That could last well into 2009 and beyond.

Drawing parallels in today's economy with that of the Carter years [mid to late 70's] and the Bush 1 years [early 90's].  BUT, most economists say the signs now are much much worse than in these two previous times.  Why?  Unusually high oil and food prices.  And a much worse housing market.  With rising unemployment.  And lower corporate earnings reports.  Plus one of the largest declines in consumer spending.  All bode doom and gloom in the days ahead.  BTW, how many vacuum pros made it to Las Vegas this year for the VDTA?  I recall the brohaha last year when HOOVER wasn't represented.  What happened this year?

How will these rough times ahead affect vacuum sales?  Well, we already know from the NPD that new vacuum sales were off 3 percent in 2007.  After an extended period of increasing annual vacuum sales due in large part to dyson sales.  Most economists say that the first clear cut sign of the bad economic times was the extremely poor consumer spending numbers for the 2007 Holiday season and in January 2008.  The worse in 20 years by some accounts.

So.... I suspect the beginning of the vacuum sales fall off started in late 2007 and will probably get worse as the months ahead unfold.  Who will be hit the hardest?  No question, the big box retailers who enjoyed a bullish market in vacuum sales from 2002-2007 in large part due to dyson sales.  With a fall off starting in mid to late 2007 causing the entrenchment by most big box retailers in their vacuum inventories now.  How?  Lowering prices, offering giftcards in concert with discounts, and culling brands and models with clearance prices.  The latter usually from the ranks of the hard to move sellers [read high end prices]. 

Surely any vacuum insiders here who are privileged to vacuum sales information which contradict mine will correct me if I'm wrong.  Pity the thought that I spread negativity and lies.  

ALL COMMENTS WELCOME EVEN COMPANY PROPAGANDA [READ SALES PUFFING AND ROSY SCENARIOS FROM PRIVATELY HELD COMPANIES NOT SUBJECT TO THIRD PARTY AUDIT SCRUTINY AND REVIEW].

Carmine D.

CarmineD wrote:
I think that those who buy expensive items (vacuums or otherwise) will continue this trend although they may wait for better financial forecasts.   I do not see them running to WM or other stores to buy the low end. 

JMHO...I think the coming years will be good for a company who can come up with a QUALITY vacuum that is healthy, compact and has a good powerhead for $500 or at least, under $600.00 MAX, that is NOT MADE IN CHINA. So it should be good for Eureka/Electrolux. While not a great machine (hard to work on and those hose & wand contact problems). It's priced well and gets a good review from CR (which seems to be the only criteria for many people). If I were the Germans I would take the hit for a few years in exchange for market share. SEBO should offer the K3 in that price range and try to make it up by splitting some of the difference with the dealer in profit margin and raise the back end prices like bags and filters. Also offer less warranty like a 2/5 year or 3 year. It's very hard to get the Germans to think like Americans when it comes to marketing (this is both good and bad and sometimes frustrating) I'm assuming sales are good in Europe so things won't change unless they lose too much market share in the US...then creative thinkers might be listened to.

Lucky1 wrote:

The economic malaise is global.  Europe and Japan are not exempt in part because their markets and economies are tied to oil and food prices which are at record highs worldwide.  The economies faring better are India and China. 

Carmine D.

HARDSELL wrote:

My good friend and fellow:

In a sluggish economy [read recession], the more upscale the retailer, the more they're struggling.  Why?

Department store operator Macy's needed a one time tax benefit to rescue the 4th quarter results it released this week.  Target [cheap-chic] did better with an 8 percent drop in quarterly earnings that was still a little higher than analysts expected.

And your favorite Wal*Mart with its strong emphasis on low prices reported a solid fourth quarter.  It's stock price has fared better than all other retailers this past year: Up 8.1 percent at $51.40.  Including BEST BUY which is down 11.7 percent at $46.50.

Another: Nordstrom said profits fell 8.6.  I can go on.  But I think [hope] you get my point.  In short, the retailers' results in 2007 and so far this year are the worse in 40 years.

I'll overlook how absurd your first statement is with regard to the US housing market for 2007 and [according to the gurus] for well into 2009, 2010, and some say even 2011.

Ben Bernanke told Congress he will cut interest rates further.  Why?  Stimulate the sluggish economy.  I expect with absolute certainty that the Bush Administration will push through another financial stimulus package next year in time for the election.  Not because financial forecasts are better but because they are much worse.  Problem:  Ben is fighting a war on two fronts:  Recession at the front door, and inflation at the back.  Consumers are squeezed in the middle.  Higher consumer prices [food and oil are the worse], lower wages [down almost 2 percent in 2007], decreasing asset values [read home values and savings] and increasing unemployment with lower company earnings. 

When exactly do you predict better financial forecasts? 

Carmine D.

CarmineD wrote:

As usual, in your haste to show your superior knowledge you failed miserably in your rebuttal to my comments. 

Not once did I mention struggling retailers.  I only said that most consumers who are  accustomed to upscale purchases will not rush out buy inexpensive goods.   Do you predict a recession to be eternal?  I do not think so, therefore many will wait out the storm.  Unfortunate as it is for some now is a great time to buy a home.

Hello Good Friend:

Who sells expensive items [like high end vacuums]?  Answer:  Upscale retailers not Wal*Mart.

Now may be a good time to buy a home if you qualify [read credit worthy, currently employed and have been for awhile with certainty for future too, and willing to put 10, 20 percent down].  BUT... tomorrow, or next week, or next month, or next year may even be a much better time.  With steadily declining housing prices, the inventory of unsold new houses at all time highs, and many high end home builders reporting declining profits, losses and even bankruptcies, why buy now?  Wait to see what tomorrow brings.  BTW, how are new vehicle sales [one of your favorite industries to reference]?

You ask me how long will the recession last?  I asked you first.  It was the question about when consumers can expect better financial forecasts.  I answered the question for you too.  2009, 2010, 2011 even longer.  Why?  The answer is really unknown and uncertain.  In large part because Ben Bernanke is fighting stagflation.  Two very different economic problems.  To the extent he and the Fed tackle the current recession on the front door [by cutting interest rates] they fuel inflationary pressures.  To the extent they tackle inflation by raising rates/reducing the new money supply in circulation, they fuel the recession. 

This is the same economic condition that Jimmy Carter experienced in his one term presidency under the tutetage of Paul Volcker as the Fed Chairman.  Ronald Reagan easily won 44 states and 500 electoral votes in 1980. 

Most are predicting that today's conditions are much worse.  Why?  Housing market much worse.  Oil prices while high then and a source of the inflation are at all time record highs now. 

The point you should get from all this is that new vacuum sales especially your favorite brand [dyson] at upscale retailers retrenched in the last quarter of 2007.  They are continuing to languish and will decline much further in the months [and even years] ahead.   Retailers have shelves and warehouses full of unsold expensive items [like vacuums] in inventory.  Not exactly the best time to buy more to sell to budget conscious credit pinched US consumers.

Carmine D.

HARDSELL wrote:

Hello Dear Friend:

From what I read in the retail industry, NOT ONLY has Wal*Mart knocked out BEST BUY with the sale of electronics and related items in 2007 and still, but also cheap-chic Target on housewares and apparel.  I see the latest Target TV ads conspicuously excludes the usual dyson.  And Wal*Mart is running the DC18 for $498 with a few extra tools and a $100 Wal*Mart Giftcard with the DC18 purchase.   While supplies last.

Apparently, it's not the groceries that give Wal*Mart it's edge [as you biasely like to report].

It seems Wal*Mart is the US retailers' standard to follow in the current economy.  And confused Target execs are scratching their heads wondering what the heck happened.  Why?

In 2005 and 2006, Target same store sales grew at twice the rate of Wal*Mart's.  In 2007, Target same store sales nudged up a disappointing 0.2 percent compared to gains of 1.7% at Wal*Mart.  "Expect More" should be the Wal*Mart message rather than Target's.

Carmine D.

Hi Carmine, You know what this economy is really making the rebuilt vacuum market take hold,as you say what goes around comes around,we are swamped with high end trade ins,you more than likely know the brands,the sales puffing,and hype is starting to really bite these guy's in the A$$, I would be very surpised if some of them are still in the floorcare business with in the year.Only the strong and talented will survive this storm ............B.T.W. the cvs industry is really taking a beating,more like 40 to 50% off of last year...........Of course you saw this coming for over 2 years now.

Take Care

MOLE

CarmineD wrote:

Your imagination is amazing.  When did I say that groceries gave Wal Mart an edge?   Now that you mention it, why wouldn't they?

About the only thing that I can recall is saying that Wal Mart is not a high end store.  Neither is Target or BB or CC.

Lots of changes in 2007.  K Mart may jump ahead in 2008 or 2009.  Who knows? 

mole wrote:

Hello Mole:

Here in N.LV there are the following occurrences with repairs of that particular brand:  First, with the 2 year waranty over and facing a $150 repair for a bad clutch and belt replacement, customers are trading in [not for the same brand].  Second, the customers agree to the repair, then don't claim it.  It lays in the store abandoned.  Storeowners call the customers, who say they will be in.  But never show.  In one particular store, I advised the owner, who has this problem, to post a sign clearly visible to all the customers that the store is not liable for repairs not claimed after 30 days.  I also suggested that the repair tags that are given to the customers say the same.

In the future the models with the clutches [read with the 5 year warranty] will be dyson's problems.  Both the home office and/or warranty dealers who will have to eat the cost of these repairs under warranty.  One of the reasons, among others, I did not buy a dyson until it had the 5 year warranty.

Do you think a good part of the CVS downturn is due to the bad housing market?

Carmine D.

HARDSELL wrote:

My friend:

It's not my imagination but my memory.  August 2005 on another Forum.  I was discussing the merits of BEST BUY vice Wal*Mart with a good friend Carl the Pro Prohlman.  He liked the former and I the latter for a variety of reasons. 

You chimed in and said Wal*Mart has the edge, just like you are saying now, because of groceries. 

True, Wal*Mart is the king for produce sales.  With the second far fra away.  But  as I told you then [and you forgot already] for retail store comparative sales purposes, the produce is culled out of the sales data.  Someone once told me that the largest brain is no substitute for the smallest pencil.  I agree but add if the pencil has an eraser on the end.

Carmine D. 

CarmineD wrote:

Please be kind and provide the link to that.

HARDSELL wrote:

Ye of little faith.  And a friend of mine no less. 

My good fellow, before I entertain your request which will require me to dig into my archives, please be kind and provide a review of the Royal Eminence as you were requested by our Forum Moderator.

Carmine D.

CarmineD wrote:

YES,YES AND YES, Carmine.Why should the dealers take the brunt of the B.S.,from inferior made products,and the manufactures change names,sell out,or get out of the business,and open schools of  engineering.....and are hailed as great inventors.The public are such SUCKERS............

MOLE

CarmineD wrote:

If you can't find it just tell us.  My review is not relevent to this subject.  I would expect no less than for you to try to twist the subject.

HARDSELL wrote:

My good fellow and friend:

The review of the Royal Eminence is more relevant to this Forum than redundantly posting a thread from August 2005 which was a side bar [read unrelated to vacuums] on another Forum that is now defunct.

Or is it easier for you to criticize others'  vacuum commentaries than to originate your own? 

Carmine D.

CarmineD wrote:

Go back and see how all this BS started before you cast stones.  You always want proof.  Now I would like to see yours.

Lies, half truths and deceipt deserves criticism. 

HARDSELL wrote:

Kmart won't, my friend.  Not in 2008 and more than likely not in 2009.  Why?  Kmart and SEARS are the same now.   You don't recall but the August 2005 thread [I mentioned on another thread on this Forum] between CPro and I included SEARS and KMART which had just merged.  SEARS didn't offer any full year forecasts.  But it's presumed to be worse than previously expected as a result of worsening conditions.

The word on the street is to look for SEARS to have a yard sale soon.

Chairman Edward S. Lampert, a hedge fund manager, will [it is believed] be forced to sell off the underperforming SEARS and Kmart stores.  Why?  SEARS needs the cash from the sales of the land and stores.  SEARS/Kmart has 3400 stores in the US and 380 in Canada.  Lampert will also approve other retailers selling it's highly regarded brand name products like Kenmore, Craftsman, Land's End and Diehard.

Analysts claim SEARS efforts to date to revive sales have failed miserably.  Hence, the yard [read asset] sales.  You can identify with asset sales.  You sold off your DC07, the best vacuum you claimed you ever had, and kept all the others that you liked less.  When you need money, you have to do that: Sell off your assets.   Desperate times call for desperate actions.

BTW,  my friends and colleagues at SEARS gave me the inside information when I visited them several weeks ago.  Last week's earnings report confirmed they were right.  Excellent hearsay, I'd say. 

Carmine D.

I did not have to sell the Dyson.  I wanted to sell it.

HARDSELL wrote:

We know now that you sold it.  You told us at least 4 times.  The question is:  Did you buy the DC07?  Or...was it a gift to you? 

Carmine D.

I responded to your insinuation that I sold the Dyson out of desperation.  You never mentioned gifts.

You can't convince me that you did not take too many punches to the head although you never got out of the recreational league.

HARDSELL wrote:

My dear friend:

We alreay know you can't originate your own vacuum reviews [you said you are not a good writer and reviewer] but can only criticize others who do. 

Now it seems you can't answer a simple question.  Did you buy the DC07?  Or was it a gift?  May I assist you as I normally do.  Here's what you do to answer.  You think back when the DC07 first came into your use and possession.  Did you go to a big box retailer to buy it?  That's when a store gives you something and in return you give them money.  Or did someone give it to you?  That's when you get it, but don't give money for in in return.  Hope that clarifies.

Carmine D.

CarmineD wrote:

I could originate a review if  chose to, however it would be useless.  I do not criticize others who are honest.  You are a legend in your owm mind (and only yours).

I can answer a simple question when it is asked.  I already told you what I responded to.  It was not a question.

Not sure what difference it makes but I paid cash for the Dyson and all other vacuums that I have owned.

HARDSELL wrote:

What other vacuums have you owned?  Where did you buy your vacuums, including the dyson?  

Carmine D.

Within the next 2 weeks Ben Bernanke and the Fed policy makers will announce another fed funds interest rate cut.  Probably 1/2 percent.

Since September 2007, the Fed funds rate has been cut from 51/4 percent to 3.  Not counting the next rate cut.

Also in recent months, 19 big box retailers have discontinued reporting monthly retail sales data.  This metric goes back to the early 1970's when big box retailers started reporting the monthly sales data to give investors confidence in the retailers' financial strength.  Why?  To attract investors.  Over 90 retailers reported monthly sales data for years.  It's now down to half that number and more retailers, like Macy's yesterday, are joining the non-reporters.  An indication that things in the retail sector are about to get alot worse in the months ahead.

Carmine D.

Ben Bernanke, the Fed Chief quoted Leo Tolstoy before a Senate Hearing on the economy AND Warren Buffett says we are in a recession all in the same week.  Got my attention.  The number one wealthiest man in the world according to Forbes says the US is in a recession.  I believe him.  

February Jobs data was released yesterday.  For the second straight month in a row, jobs were lost in the US economy in February.  A sure sign of a recession.  As if this President needed one more sign to convince him. 

When economists and analysts look back on this year, the infamous Fed rate cut decision on the Martin Luther King Jr. Holiday, and the events that started my thread, will become the official start of the US recession of 2008.  With the consequences felt globally.

Carmine D.

It's coming on two years that I heard an interview quote from Buffet saying he was dumping US Dollars and buying into Euros. So much for patriotism when you can make a buck Internationally. With the Global Economy, trickle down economics hasn't and never will work. People who believe in Free Market Trade without an equal trading field should be ashamed of themselves and this is just as big a part of the economic problems in this country as is the mortgage crisis and borrowing money for the war! If we are trying to trade with subsidized and socialist trading "partners" we too need (despite our heritage) to have some sort of socialist assistance. Every "ism" in it's purist form is destined to fail it's constituents . Including Capitalism. We need to hybrid our system, take care of our own until we become stronger economically. JMHO

Lucky1 wrote:

The Euro hit an all time high against the dollar this past week.  $1.59 to the Euro.  Sad but true.  Buffett's timing was just right, as usual.  Arbitrage is the practice of making money by trading currencies.  Buffett can teach the course.

Carmine D.

Lucky1 wrote:

When jaydee collected the $6.4 MILLION from HOOVER in 2000 he went to Malaysia to mass produce dysons for world markets.  Skipped right over the UK.  His country of origin.  Brits still upset about that maneuver.

Why did he go abroad?  Cheaper labor costs.  At the time 30 percent less than the UK.  It was probably more.  Kept the dyson prices the same and even went up higher.  

Slave labor without the guilt.

Carmine D.

Mark your calendars.  March 14 [not the Ides of March as Shakespeare said in Julius Ceasar].  Why?  The US government bailed out Bears Stearns, an icon financial institution with 80 years of revenues and profits.  It's CEO said it had a liquidity problem [read it couldn't make payroll and its financial obligations to its clients and customers].  The US taxpayers in their kindheartedness gave BS an interest free loan.  Why?  Because BS is too large to fail [read the domino effect would bring down many others]. There will be more to come to drink from the trough of the US taxpayers in the months and years to come. 

Stock price of BS dropped 50 percent yesterday.  It's down 75 percent for the year. 

Carmine D.

CarmineD wrote:

Hi Carmine,

Thanks for the report.  It of course make me mad as all get out.  Money is found Bear Sterns but there is no loweiring of interest rates to aid the everyday man in escaping forclosure.

Well -- it's a mean world to live in but we've got to stay here 'til we die . . .

Venson

Venson wrote:

Hello Venson:

Ironically, the Fed has cut the Fed Funds rate since September 2007 from 5 to 3 percent.  And very likely to cut again this week anywhere from 25 to 75 basis points.  Despite these efforts, the 30 year mortgage rates have actually gone up over this time rather than down.  No doubt the effects of recession [sluggish economy] and inflation [record breaking commodity prices] vying concurrently on the market conditions. George W.  like his Father doesn't have a clue of the economy's severity as he tap dances and sings on the steps of the White House. 

Word on the street is to look for more banks to petition the Fed for bail outs.

Carmine D.

Hi Carmine,where do the feds get the money from.

Thanks.

MOLE