Friday’s Memo – Some say Up Others say Down

Who do you listen to when it comes to whether the global economic recession has turned the corner or about to see the worst?  Answer the question and I’d bet Warren Buffet would want to be your BFF.

The New York Times business section reports the Bank of Japan has upgraded its assessment of the recession.  The account reads the bank said “it would start accepting foreign bonds as collateral for loans to ease strains on the banking system….”   Any sign of improvement please. 

Here’s the contradiction, the Wall Street Journal top business story headline is “Recession Turns Malls Into Ghost Towns.”   Where are the shoppers and what can you read on their faces and from empty hands?

Wall Street pundits like Jim Cramer are really uninformative with presidential enemy lists.  Fox Business reports the market looks to break a three-day losing streak before the long holiday weekend off.  Yahoo Finance shows the market is turning positive.

Yahoo reports several retailers post better than expected results which seems to contradict the Wall Street Journal report on decaying American shopping malls.

Out of the 50 states of the Union 44 lost jobs last month and public officials warn of layoffs to come among government employees.  I’ve been deliberately speaking with as many small, just average, citizens as I can encounter about how they are doing.  The emotions I sense fail scientific analysis because you hear small people bracing for more.

The business of Broadcast Newsroom Computing is ultimately local and depends on overstuffed bags in hands at shopping malls.   The question remains – will buying resume and the recession subside?

Next week Broadcast Newsroom Computing looks at three screens where commerce will be transacted.  Are you ready to serve the consumer any where any time?

James Rowe

Rowe and Company, LLC

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