bikes will ride out the recession
10-14-08, 05:31 PM
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bikes will ride out the recession
A letter from John Burke, CEO of Trek:
https://www.bikebiz.com/news/29837/Bi...-the-recession
https://www.bikebiz.com/news/29837/Bi...-the-recession
10-14-08, 05:34 PM
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Peloton Shelter Dog
Burke is a total Fred.
10-14-08, 05:36 PM
#3
pan y agua
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Global recession = decreased demand for oil = decreased price for gas = no new bike boom.
I paid $2.69 for unleaded yesterday. Forget a big bike business rally.
I paid $2.69 for unleaded yesterday. Forget a big bike business rally.
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10-14-08, 07:20 PM
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Ride 365
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Now if Burke would only explain why he decorates Trek bikes with lousy Bontrager components... 
10-14-08, 08:30 PM
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Reminds me of the Chief Economist for the National Association of Realtors who has been saying for years that "this is the bottom." A key rule in business: just because a CEO or manager says something is true, does not necessarily mean it is true...we'll see how the bike manufacturers and dealers make out over the next twelve months...I wish them well...but, as a b-school professor (and one who was around several Nobel laureates in economics while earning my PhD), I do not see how they are immune to the current economic problem/challenge.
10-14-08, 08:31 PM
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Somewhere in Paterson, gas was around $1.69/gal..........
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10-14-08, 08:46 PM
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10-14-08, 08:49 PM
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This is not a recession. Give me a stock market below 5000 and double digit unemployment before you call it a recession.
10-14-08, 08:50 PM
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Peloton Shelter Dog
Lance racing and on TV = high end road bike boom.
Period.
Period.
10-14-08, 08:51 PM
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More like it means that it probably is just the opposite. That's how they get awfully large amounts for not doing the best job - heads honchos of Lehman, Washinton Mutual, AIG, and IndyMac all earned more than $20M the last 3 years, with Lehman's rounding out the top with $172M. That beats the market cap of at least 1014 traded companies.
10-14-08, 08:53 PM
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Anybody else see that AIG executives spent nearly $400,000 on a spa "executive retreat" after they were given $80 billion dollars? That got me going.
10-14-08, 08:54 PM
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10-14-08, 08:56 PM
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And if DJIA goes under 5000, we might as well stop using the internet because we'd be back to 1994.
10-14-08, 10:17 PM
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Incorrect.
I'm no industry analyst, but there are surely more factors to bike sales than the price of gasoline. What happens as the unemployment rate rises (as it will)? Will more people chose to ride bicycles (regardless of gas prices)?
As for Trek, I'm guessing that buried in those sales figures we see more low-end bike sales, and fewer high-end bike sales.
I'm no industry analyst, but there are surely more factors to bike sales than the price of gasoline. What happens as the unemployment rate rises (as it will)? Will more people chose to ride bicycles (regardless of gas prices)?
As for Trek, I'm guessing that buried in those sales figures we see more low-end bike sales, and fewer high-end bike sales.
10-14-08, 11:46 PM
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10-14-08, 11:54 PM
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If you guys don't think we're in a recession you're idiots. The U.S. is barely even a first world country compared to most of europe.
10-15-08, 12:00 AM
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Oct. 15 (Bloomberg) -- Treasuries gained, sending 10-year notes higher for the first time in six days, after Asian stocks fell and Federal Reserve Bank San Francisco President Janet Yellen said the U.S. is in a recession.
10-15-08, 12:29 AM
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https://www.bloomberg.com/apps/news?p...d=aO2QsoOAK2Ks
Oct. 15 (Bloomberg) -- Treasuries gained, sending 10-year notes higher for the first time in six days, after Asian stocks fell and Federal Reserve Bank San Francisco President Janet Yellen said the U.S. is in a recession.
Oct. 15 (Bloomberg) -- Treasuries gained, sending 10-year notes higher for the first time in six days, after Asian stocks fell and Federal Reserve Bank San Francisco President Janet Yellen said the U.S. is in a recession.
"The U.S. economy will shrink 0.3 percent in the fourth quarter, contracting for the first time in a year, according to a Bloomberg survey of banks and securities companies. "
Now apply that to the definition of a recession, and you'll find that we aren't in one. I didn't say we won't be, we'll have to wait and see. But we aren't in one right now. Yellen used the term incorrectly. Is it fair to say that we're in an economic downturn? Yes.
10-15-08, 12:40 AM
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10-15-08, 01:33 AM
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And with a quote from your article:
"The U.S. economy will shrink 0.3 percent in the fourth quarter, contracting for the first time in a year, according to a Bloomberg survey of banks and securities companies. "
Now apply that to the definition of a recession, and you'll find that we aren't in one. I didn't say we won't be, we'll have to wait and see. But we aren't in one right now. Yellen used the term incorrectly. Is it fair to say that we're in an economic downturn? Yes.
"The U.S. economy will shrink 0.3 percent in the fourth quarter, contracting for the first time in a year, according to a Bloomberg survey of banks and securities companies. "
Now apply that to the definition of a recession, and you'll find that we aren't in one. I didn't say we won't be, we'll have to wait and see. But we aren't in one right now. Yellen used the term incorrectly. Is it fair to say that we're in an economic downturn? Yes.
)
10-15-08, 07:36 AM
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ECONOMIC REPORT
Retail sales fall 1.2% in September
Third straight decline caps worst quarter in more than a decade
https://www.marketwatch.com/news/stor...9F948B39228%7D
Let's see what happens to high-end bike sales...I stand firm with my forecast...transaction prices will decrease...
Retail sales fall 1.2% in September
Third straight decline caps worst quarter in more than a decade
https://www.marketwatch.com/news/stor...9F948B39228%7D
Let's see what happens to high-end bike sales...I stand firm with my forecast...transaction prices will decrease...
10-15-08, 07:39 AM
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You haven't spent a lot of time in Europe have you?
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You could fall off a cliff and die.
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You could fall off a cliff and die.
You could get lost and die.
You could hit a tree and die.
OR YOU COULD STAY HOME AND FALL OFF THE COUCH AND DIE.
10-15-08, 08:02 AM
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Paterson is not that bad.
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