You’d have to be living under a mushroom to not be aware of headlines that scream, “The Sky is Falling – Recession On Its Way!” and news of multi-billion dollar write-offs by major financial institutions.
This weekend, the Trickle-Down Effect kicked in.
Gold broke an all-time high barrier of $900 per ounce, and is predicted to continue to set new records in the foreseeable future.
Citigroup just added $4 billion to a reserve account for future losses on consumer loans, and J.P. Morgan followed suit. It’s not just about sub-prime mortgage losses anymore – it’s quickly becoming about consumer debt.
The “affordable luxury” category took a hit this past holiday, with solid performers like Tiffany, Coach, and Nordstrom admitting sluggish sales.
And when Costco says, “Our holiday sales were OK,” it’s time to sit up and pay attention.
If you do nothing else this week, do yourself a favor and read today’s Monday Morning Memo, titled "2008: Year of Transition" and written by Roy H. Williams. Nearly five years, ago, Roy wrote and talked about a pending seismic shift in our culture and economy – a change that has now arrived with the accuracy of Jack Bauer’s special-ops watch.
Roy offers a few guidelines for the next cycle of business that show you not only how to survive the rocky road ahead, but tell you exactly what you need to do in order to grow.
Monday Morning Memo readers already know that Roy is a brilliant writer and strategist. Whether you take his advice or not is up to you… but if you do, it could be the smartest thing you’ll ever do for the future of your business.