Re: craft relief
Posted by John on September 24, 2001 at 07:01:17:
In Reply to: Re: craft relief posted by M.R. Daniels on September 23, 2001 at 06:30:49:
We were already headed into a recession and, hence, a soft holiday season, when the terrorists struck. I think the summer shows in our industry were down some ten to 15 per cent. The financial and economic news hasn't gotten any better. (1) The stock market took it's biggest dive since 1933 last week. (2) Those economists willing to make a forecast right now are predicting the softest holiday season since the recession of 1991. (3) Layoffs have mushroomed in the last two weeks. And I read somewhere that credit card purchases dropped twenty per cent from their already reduced levels in the aftermath of the attacks. I have not seen any positive signs.
I'm not saying it's all doom and gloom out there, but you should be on guard and prepared for the worst. Even if your order book for fall looks good right now, I'd at least dust off your credit and collection procedures and review them -- it's not really a sale until the money is in the bank.
Who knows, we may be giving each other war bonds for Christmas!