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...but similar
perspectives:
The small
businessman (via WTSP.com):
"What we
see is that people aren't spending as much as they used to," [athletic
gear store owner Jeff Pape] said. "People that
might have come into the store and spent $150 or $200 on stuff are now
backing off to $60 or $70.
To Pape, there's no mystery why.
"People
that had jobs that were making $100,000 or $150,000, are now making $40,000
or $50,000, and that has to affect their spending," he said.
That in turn
affects Pape and his work force, now down to two
from four. He acknowledged that he had to cut back on the things he purchases
for his store. "We're working with our vendors to try and keep our costs
as low as we can," he said.
The corporate
CEO (via Crain's New York):
"In the
United States, we've got 1.5% economic growth, the euro zone is not growing,
the emerging markets are not emerging as fast as they had been before,"
[CEO James] Tisch said Monday on a conference call
to discuss Loews' quarterly results. "You don't see anybody expressing
optimism about what's going on in the economy either here in the United
States or overseas."
...
"I'm very
concerned" about the global economy, Mr. Tisch
said Monday. "I find it actually quite extraordinary that we find
ourselves with attractive investment opportunities at the subsidiary level in
view of just how poorly I think the U.S. economy and the global economy is
doing."
Michael J. Panzner
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