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July 27, 2009
Top 3 Signs the Economy is Still in Deep Trouble
By Harkavy
Don't get too giddy about the Dow's upward climb. There are signs that the economy is still hurting really bad.
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Don't get too giddy about the Dow's upward climb. Here are three signs that the economy is still hurting really bad:
1: Tim Geithner still can't sell his house, despite all this supposed good news about the housing market.
2: Radio Shack seems to be doing well, but nobody gives a shit. The least sexy electronics outlet reported quarterly earnings that beat estimates. No one cares, however, that the homely chain is cutting costs: Its share price is falling.
3: Still plagued by bad marketing moves, GM is rumored to be replacing its Saturn model with the Uranus. Without mentioning that rumor, AdAge's Al Ries hammers GM - the company you bailed out - for picking Bob Lutz as its new advertising and marketing czar, saying it "shows no respect for marketing."
MLive notes that Lutz "crapped all over" GM's new ad campaigns (especially a Buick TV commercial) and then dashed off to the Caribbean for a vacation.