Wolperts Blog

Dow up 889 Points, Not Good News IMHO

What we need is stability.  The down several hundred up several hundred points is bad even on the days its up several hundred.  Everything is too uncertain and we need things just stabilize.  The market getting back to two digit swings on a daily basis for a few weeks is what we need

2Pac Lyrics from Changes 1998-Just 10 years ago

"And although it seems heaven sent
We ain't ready, to see a black President"

Video Here Video Here

Fry's Electronics Experience Yesterday-The Economy is in BAD shape

My favorite store is Fry's electronics.  For a tech geek it is the equivalent of the Nordstroms shoe department for women.  I find myself there sometimes just to walk around and see what's new, see what people are buying, see which manufacturers are buying end caps etc etc

The one complaint about the store is customer service.  The stores are generally packed with people and it is really hard to get a salesman to help you.  You essentially have to find one who is helping someone else and follow them around til they are done with that customer then grab them---kind of like getting a seat at a crowded bar.

Yesterday I stopped in a Fry's.  There are two things that happened that prove to me once and for all our economy is in serious trouble and all kidding aside elevated my level of concern about what the future holds.

First I had 3 different sales people come over to me over the course of 10 minutes and ask if there was anything they could help me with.  Never has happened before.  Then as I was looking at bluetooth headsets I observed 5 sales people standing around together just talking, simply because there was nobody to help

Then the worst of all.  One of the 5 said "there were some people in last week that were interested in the LF washing machine" and he was going to call them and see if they would come in an buy it if he could deliver it for free.  Then I heard him make the call essentially grovel to sell the washing machine.

This experience has had more impact on me regarding my level of concern for the economy than any report I have seen on CNN/CNBC or any other news program.  Things are bad.

OJ-Justice, Sort of-13 years to the day

Last night I was watching the news and they reported that OJ Simpson had been convicted on all 12 counts including kidnapping.  The irony is that they pointed out that yesterday was the 13th anniversary to the day that he had been acquitted of the murders of Ron Goldman and Nicole Simpson.

For those of you not based in LA, 13 years ago this was the number 1 story here in LA.  I felt close to the story as the parents of Ron Goldman lived in my neighborhood at the time and I would often see them during the course of the trial.

When OJ was acquitted of of the murders I thought about Ron's parents and wondered how they could live with the fact that the man who had killed their son was set free.  In hearing the verdict last night I hope that it brings the Goldmans and the family of Nicole some sense of Justice. 

I heard last night that OJ will face 15 years to life.  Correction: I had previously thought they had let him out on bail but have learned he is now in jail and will hopefully stay there