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To Celebrate The End Of The Recession Small Businesses Are Cancelling Christmas Parties More Than Ever

Tyler Durden's picture




 

When reading the otherwise rosy stories in the mainstream media, the most glaringly simplistic and attention grabbing subsegments of which continue to proclaim the recession over, while conveniently ignoring that despite $4 trillion in monetary and fiscal stimuli underemployment is at 17%, foodstamp recipients are at all time highs (but who cares about that social stratum), discretionary purchases are continuing to be funded primarily from millions of delinquent homeowners who refuse to pay their mortgage (now on average between 18 and 24 months behind), companies are refusing to hire, capex spending is at all time lows, banks are hoarding cash for the imminent perfect MBS putback storm, commodity price inflation is threatening to collapse profit and net income margins, half of Europe is locked out from capital markets, rampant Chinese inflation is threatening to recreate Tianenman square, investors are pulling cash from markets for 29 weeks in a row, hardship withdrawals from 401(k)s surging, and the muni mess is one political decision from an avalanche of city and state defaults, one may be excused to have a comparable simplistic perspective of the economy. After all stocks are up. Which of course is precisely the response that Bernanke is hoping to elicit from these same simplistic interpreters of economic and market data, who are next supposed to take money procured from selling newsletters and other top and bottom-line declining products, and buy (Chinese) trinkets they don't need. It is these same people who will also conveniently ignore the sad reality that America's small business find themselves increasingly in: and for the most vivid example of this is the latest Reuters report which informs that small business are now calling of Christmas en mass. "The 2010 holiday season represents the worst
slump since the firm began polling 22 years ago, she said. Of 103
leading businesses queried, those holding a celebration of any kind fell
to 79 percent, down from 81 percent both last year and the year before,
during the height of the economic recession."
Obviously Wall Street is not among those polled: the country's bankers are preparing to spend over $140 billion in compensation this year. Good luck booking a restaurant, club or lounge in New York in the next month.

Alas, it is small businesses that create economic prosperity in America. Bankers only take it away. Which is why how the small business segment feels might have been relevant if anyone still cared for America as a going concern. That's no longer the case: it is now obvious that the country will persist in its current form only for so long as it can continue to roll its $13.8 trillion in debt (we forgot to add record debt in the list above): an mount which will never be repaid.

From Reuters:

Over one-fourth of companies hosting parties said their events this year will be more modest; that comes on the heels of nearly half that cut budgets in 2009. The majority will keep spending the same as last year.

"The only reason that not as many downsized their parties this year was if they downsized more, they wouldn't be having anything," said Winston, noting a shift away from events intended to woo clients toward simpler, employee-only gatherings. "You can't downsize any further."

Those companies that do deck their halls this year are doing so moderately, weighing the signals their events send about business priorities as much as impact on the bottom line, according to providers contracted to put events together.

"With many businesses asking employees to make sacrifices, forego raises and bonuses, even the appearance of a lavish affair projects the wrong message," said Greg Jenkins, owner of Long Beach, California-based Bravo Partner Productions, which has coordinated holiday parties and other events for companies large and small for 25 years.

"A lot of it has to do with perception," said Jenkins, noting that some companies are making a conscious effort to tie their parties to some form of charitable giving. "The last thing you want to do is spend money on caviar and champagne."

Jenkins, himself a small businessman with just five full-time employees, keeps his own year-end celebrations low key with a simple lunch out at a restaurant or a small gathering at his home with light appetizers.

Companies are demanding less costly holiday alternatives, said Tom Walter, CEO of Chicago-based Tasty Catering, whose customers include many small businesses, as well as large corporations like McDonald's.

That America's economic engine has to take such sacrifices merely to perpetuate the Wall Street-Fed-DC kleptocratic status quo is sad, but at this point nothing can be done about it. Until these very people decide to either stop paying their tax outright, pull all their money from the TBTF banks, stop trading in corrupt capital markets entirely, very little if anything will change. After all the ruling class is now focused on one thing, and one thing only: kick the can far enough that those in charge now will not see a posse in front of their front door before arrangement for a one way G-5 fllight to Brazil can be made. Everything else is smoke and mirrors.

 

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Wed, 11/24/2010 - 14:55 | 753047 Sudden Debt
Sudden Debt's picture

No Christmas parties?

But... how will anybody be able to get that new secretary drunk and bang he in the toiltets?

This doesn't make sence...

Wed, 11/24/2010 - 14:59 | 753061 Dr. No
Dr. No's picture

"and bang he " Freudian slip?

Wed, 11/24/2010 - 15:05 | 753081 Cognitive Dissonance
Cognitive Dissonance's picture

It's just the way they do things in Belgium. Who can account for taste?

Wed, 11/24/2010 - 15:06 | 753089 Superdrol
Superdrol's picture

Please gentlemen, sexual preferences of all types are welcome at Christmas parties.

Wed, 11/24/2010 - 15:16 | 753118 Dr. No
Dr. No's picture

Agreed.  All in the name of good cheer.  I pray this year's party will eclipse the debauchery of last years.  Peace on earth.

Wed, 11/24/2010 - 17:14 | 753467 Drachma
Drachma's picture

He meant to say, "...bang he in the toiltestes."

Wed, 11/24/2010 - 20:01 | 753793 hardcleareye
hardcleareye's picture

Perhaps SD is a aging cougar and has just hired a nice young boy toy for a secretary?  Of course getting the boy toy drunk and molesting him in the bathroom is counter productive, performance tends to be compromised.

Wed, 11/24/2010 - 15:32 | 753162 Hulk
Hulk's picture

"Bang He" didn't that star Richard Simmons?

Wed, 11/24/2010 - 15:49 | 753207 Cognitive Dissonance
Cognitive Dissonance's picture

Twisted minds are always fun to observe. But I would never sit next to one on the bus.

Wed, 11/24/2010 - 15:49 | 753208 string
string's picture

It's all pink on the inside!

Wed, 11/24/2010 - 19:23 | 753746 ColonelCooper
ColonelCooper's picture

Faggopotamus

Thu, 11/25/2010 - 00:55 | 754159 udecker
udecker's picture

Ignorantosaurus

Thu, 11/25/2010 - 10:20 | 754500 ColonelCooper
ColonelCooper's picture

I apologize.  I forgot that I need to be aware of all the hyper sensitive gloryhole drillers who may have their feelings hurt by off color humor.

Don't worry, I'm really not ignorant; I couldn't care less how many cocks you let jizz on your face.

Douchedactyl

Wed, 11/24/2010 - 15:58 | 753223 Rider
Rider's picture

Thats right, we will miss the secretary on cheap clothes and perfum earning her promotion in the Merrier Recovery Ever!!

Kids, enjoy your food-stamps, and recycled paper wrapped gifts.

Cheer BENRON!!!

Wed, 11/24/2010 - 14:57 | 753055 shushup
shushup's picture

More bad news. No wonder the huge rally.

Wed, 11/24/2010 - 15:16 | 753120 Id fight Gandhi
Id fight Gandhi's picture

I'm sure the executive bonuses will keep flowing. Saving money from those pricey Christmas parties.

It'll be happy hanukkah.

Wed, 11/24/2010 - 15:46 | 753198 Herd Redirectio...
Herd Redirection Committee's picture

The Mainstream Media and Central Banks have both revealed their playbooks:  Pretend & Extend.  The CB know they are on a collision course for hyperinflation and death of fiat currency, but as long as it approaches in a relatively orderly fashion they think they can deal with it (i.e. replace the currency with a new one when complete faith is lost in the USD, EUR, etc.)

The Media are just the Misdirection/Disinformation Arm of the Oligarchy.  They take real data and then spin it, such as the story about Jobless Claims lower than expected = recovery somehow.   You take 95% FACTS, but then add 5% SPIN, and voila, disinformation.

http://psychonews.site90.net

PsychoNews: Exposing the Oligarchy, one Psycho at a time.

Wed, 11/24/2010 - 16:31 | 753339 Vampyroteuthis ...
Vampyroteuthis infernalis's picture

It is just a race to the last default. Europe is up first. I am guessing Japan will be second with other Asian tigers close behind. China will eventualy inflate itself into oblivion. Then, comes the humdinger of them all, the US. But if everyone else is bankrupt already, does the US care? No, they already own rest of the world pennies on the then toilet paper dollar.

Wed, 11/24/2010 - 23:24 | 754054 Cistercian
Cistercian's picture

 ZH gets it wrong yet again....the lack of parties indicates an increase in productivity, which aids the bottom line.

 {sarcasm}

Wed, 11/24/2010 - 14:59 | 753062 goldmiddelfinger
goldmiddelfinger's picture

Meanwhile CNBC rages about black friday the best ever from their "CNBC Channell Checks" !! Ooops, that was a slip.

Guess Dana Telsey's next? Her whole business model is based on inside info:

TAG is dedicated to delivering to you unbiased, in-depth company and sector analysis, trend analysis, and forecasting. We utilize a 360 degree comprehensive approach to research ranging from the mall to the boardroom. We provide you with a holistic view of the consumer sector through our in-depth knowledge, industry relationships, and analytical insights

 

http://www.telseygroup.com/home/about/methodology

 

"industry relationships". Hmmmmm

Wed, 11/24/2010 - 15:03 | 753074 greased up deaf guy
greased up deaf guy's picture

"... underemployment is at 17%, foodstamp recipients are at all time highs (but who cares about that social stratum), discretionary purchases are continuing to be funded primarily from millions of delinquent homeowners who refuse to pay their mortgage (now on average between 18 and 24 months behind), companies are refusing to hire, capex spending is at all time lows, banks are hoarding cash for the imminent perfect MBS putback storm, commodity price inflation is threatening to collapse profit and net income margins, half of Europe is locked out from capital markets, rampant Chinese inflation is threatening to recreate Tianenman square, investors are pulling cash from markets for 29 weeks in a row, hardship withdrawals from 401(k)s surging, the muni mess is one political decision from an avalanche of city and state defaults..."

... and a partridge in a pear tree!

Wed, 11/24/2010 - 15:39 | 753182 DisparityFlux
DisparityFlux's picture

Nice clean shot with a 410 will take care of that partridge.

Pass the bread, please.

Wed, 11/24/2010 - 15:04 | 753076 Whatta
Whatta's picture

Bah humbug bitchez.

Get back to work and be damed happy I am still paying your sorry ass.

I am sorry Fuhrer Bernank...I will accept less so that the banks might prosper

Wed, 11/24/2010 - 15:05 | 753077 Fraud-Esq
Fraud-Esq's picture

Barney Frank is trying to get Jonathan Pollard released from jail. 

I wonder what's behind this effort? 

I'd imagine there's a rich secondary market for Barney's polaroids.

Wed, 11/24/2010 - 23:27 | 754064 Cistercian
Cistercian's picture

 I still assert only fluoridation of the water can explain his re-election.

 He is such a scumbag...and the fact other members tolerate his execrable presence indicts them as well.

Wed, 11/24/2010 - 15:05 | 753080 Superdrol
Superdrol's picture

These guys are doing it all wrong.  They need to do it like the Wall Street boys do it instead.

 

Binge excessively on cocaine and prostitutes and write it off as a 'business expense'.  DUH.

Wed, 11/24/2010 - 15:06 | 753088 Cdad
Cdad's picture

Well said, TD.  Well said.

The revolution will be one of "defunding."  You see the beginning of it in the mortgage market.  It will expand because...well because most Americans will have no choice but to NOT PAY FOR THINGS because they are broke.

 

Wed, 11/24/2010 - 15:08 | 753094 HarryWanger
HarryWanger's picture

Our small business has 14 employees. We've had the best September in 9 years, the best October in 8 years and what is looking to be our best November ever. 

Last year we scaled back bonuses and still had a party. This year bigger bonuses and a notch up on the party. We sell completely consumer discretionary products. At our level, it's been a great Q and a great year.

Wed, 11/24/2010 - 15:19 | 753127 geminiRX
geminiRX's picture

The Harry Wanger sentiment indicator. About as good as any government indicator out there I presume...

Wed, 11/24/2010 - 15:24 | 753139 xanax
xanax's picture

What region of the country?  Seems to be lots of variance across states and cities.

Wed, 11/24/2010 - 15:24 | 753140 Id fight Gandhi
Id fight Gandhi's picture

What industry? You seem to have a lot of time to work all the forums and post here and mw as I saw.

Wed, 11/24/2010 - 15:34 | 753157 TWORIVER
TWORIVER's picture

I think Harry is from teh West Coast as he shows up later in the morning. Maybe he supplies the "self entertainment" segment of the population. He is already fluffing for the TPTB.

Wed, 11/24/2010 - 15:39 | 753180 HarryWanger
HarryWanger's picture

I live in Seattle. Our company is based in Minnesota but sells to retail outlets throughout the country. I am on live with our production facility and sales 5am - 9am Pacific time. That's why I don't post early.

I don't need to be very active in the business after those hours since staff takes care of everything. I am available all day and that's why I stay close to my computer.

Our sales have been strong in all regions except for the Southwest - Las Vegas is especially weak.

Wed, 11/24/2010 - 15:52 | 753212 101 years and c...
101 years and counting's picture

let me guess, your company sells personal pleasure products to women.

when financial times are tough, marriages suffer....and women still have urges....

 

 

Thu, 11/25/2010 - 02:53 | 754264 DollarMenu
DollarMenu's picture

medicinal marijuana?

Wed, 11/24/2010 - 15:36 | 753170 Dagny Taggart
Dagny Taggart's picture

Harry, you remind me of Michael Scott (Steve Carell) on the Office.

Wed, 11/24/2010 - 15:46 | 753197 Cognitive Dissonance
Cognitive Dissonance's picture

Wed, 11/24/2010 - 19:32 | 753769 DisparityFlux
DisparityFlux's picture

 

Short story.

1990-91 recession, business slow, employees asked to sacrifice, nose to the grindstone, long hours, no overtime, don't expect Christmas bonuses.

Day before Christmas, boss drives through hallway on brand new Harley, dressed as Santa, personal secretary dressed as elf on back handing out Hickory Farms gift boxes.

Merry Christmas.

Wed, 11/24/2010 - 15:43 | 753189 DisparityFlux
DisparityFlux's picture

Any of the product lines affected by papal edicts?

Wed, 11/24/2010 - 15:47 | 753202 Bill Lumbergh
Bill Lumbergh's picture

Are you going to throw a holiday bash and invite the ZH community?

Wed, 11/24/2010 - 15:57 | 753222 HarryWanger
HarryWanger's picture

The bash is in Minnesota next weekend. I'll be there all week so posting will be limited to probably late at night if any. Yes, I know, that bums you all out.

Any ZH folks around Mpls, let me know. Drop in for a cocktail.

Wed, 11/24/2010 - 16:14 | 753274 No Mas
No Mas's picture

Wish I could meet you Harry.  You've had one quality sorely missing on this site:

You have been right!

Have a great holiday.  I'll be fighting some Chicago traffic this year but hope to be in much warmer places by new years. 

That is if Hawaii is still open.  Is it still open ZH?  Think they'll take a few of the greenbacks that should be worthless by now?  Maybe I should charter the plane using gold or silver?

God this place is funny!!

Wed, 11/24/2010 - 16:21 | 753300 Cognitive Dissonance
Cognitive Dissonance's picture

Which time was Harry right? Back in May and June, Harry was ready to jump out of a window and appeared to be severely depressed. He was talking doom and gloom.

It's all on the record here on ZH. Ya just gotta click away to find it.

Wed, 11/24/2010 - 16:40 | 753367 HarryWanger
HarryWanger's picture

And rightly so, I shorted via SDS and made a very nice return. When I saw things changing in late summer, I went with the flow. That's the point No Mas makes and my point as well. You have to trade with the market - up or down. I'm not a permabull and not a permabear. I just trade what the market gives me.

Regarding long term outlook, I see improving trends in my business and with many of the business people I meet with regularly. That just started happening in late summer. Things are getting better, slowly but surely, as I've said over and over now. Don't marry a position.

Wed, 11/24/2010 - 17:47 | 753567 xanax
xanax's picture

Things are getting better, slowly but surely, as I've said over and over now. Don't marry a position.

 

That point will be vehemently fought by most people. Most everyone is either an optimist or pessimist by nature. It is hard for people to be truly "objective" and look at data. Earlier on we had horrific data with one or two shining spots. Now we have better data with one or two soft spots. Gotta agree with you, the trend is changing.

Housing is still a disaster.

Wed, 11/24/2010 - 19:55 | 753805 Cognitive Dissonance
Cognitive Dissonance's picture

I'm not talking about your stock positions. I'm talking about your mental position. In May and June of this year you could see nothing good coming round the bend. Your personality changed dramatically. And it changed in sync with the stock market Harry. Your emotional health depends upon the stock market. You blow around in the stock market wind.

Yet you point to people here on ZH as being irrational. You are no better Harry.

Thu, 11/25/2010 - 17:24 | 755093 kiwidor
kiwidor's picture

Irrationality is what will save us.

Wed, 11/24/2010 - 23:55 | 753847 i-dog
i-dog's picture

I understand your approach, Harry. For the 75% in work, things look fine; for the 25% out of work, things look terrible; for the 74% in work but with close family or friends as 99ers or on food stamps, things look tenuous or worse.

However, you do remind me of the guy on the Titanic who is scoffing every last morsel from the buffet while everyone else is already heading for the lifeboats. He keeps furtively looking around to see if the water is coming into the dining room yet, before he grabs his last handful and heads for the door. It must be quite an adrenalin rush! You'd just better hope there is still a lifeboat handy at that time ... the water can rush in rather quickly when you look to pick the top to the very day.

FWIW, I was caught out in the Oct 1987 crash because I was tied up in meetings all day. It can happen to anyone, but it won't happen to me again.

Thu, 11/25/2010 - 11:22 | 754542 SheepDog-One
SheepDog-One's picture

Harry the hopium dealer...business is GOOD!

Wed, 11/24/2010 - 15:59 | 753227 billhilly
billhilly's picture

Must be a Hopium dealer!

Wed, 11/24/2010 - 17:21 | 753490 SheepDog-One
SheepDog-One's picture

You still refuse to identify what 'business' it is youre in that deals with 'consumer discretionary products' that has the best September in 9 years Harry Wanger. Personally, I think youre full of shit.

Thu, 11/25/2010 - 05:00 | 754323 oh_bama
oh_bama's picture

See! I knew it!

Economy is really robust!

More americans retired early than any other time in history!!

Resssion is over long ago.

Consumers are buying high end TVs Cars whatnots!

QEs are working perfectly!

Inflation is LOW

wahahahahahaha!!

 

Wed, 11/24/2010 - 15:09 | 753096 Kali
Kali's picture

Excellent TD!  As a small business person, it is disheartening to see the country fail to help it's "backbone".  Myself, and many other small biz peeps, are at the point you speak of, if not way beyond.  There is no incentive, other than caring about our employees, to stay in business.   We realize, the explosion point will come with us.  I, personally, feel painted into a corner.  Either, as you say, stop paying tax outright (which may not be a voluntary thing, many bizzes just don't have the dough and good luck getting a biz loan), or leave the country.  The apathy of the general public is so soul shattering.  It seems as if no one cares if anything but the vampire squid is left standing.  People voluntarily want to be enslaved by government and bankers?

Wed, 11/24/2010 - 15:26 | 753146 xanax
xanax's picture

The government has been exceedingly successful at keeping the (un)working class placated with extended UE benefits.  I'm hoping the GOP makes good on their promise of "ending the welfare state".  The only way there was significant reform during the previous depression was there were massive numbers of homeless, hungry people.

Wed, 11/24/2010 - 15:37 | 753172 Kali
Kali's picture

Yes, but as Cdad said above, soon, there will be no choice, but to not pay taxes.  Then, the explosion starts.  The last drop of blood from the turnip will have been squeezed.  The apathy and stupidity is what gets me.  Even small children can understand there is no such thing as a free ride.  It is already happening at the state and municipal levels.  If no one is "employed" they can't seize money out of paychecks involuntarily and those who "voluntarily" fork over, will no longer be able or want to do so.  I think we are reaching that point rapidly.

Funny, I thought they would keep the Ponzi going til at least after the holidays, but now I am not so sure.  People tend to be more compliant when it is cold and wintry outside and there is only one source of heat. (A FEMA camp?)

Wed, 11/24/2010 - 16:01 | 753233 Id fight Gandhi
Id fight Gandhi's picture

I'm more concerned with corporate handouts and welfare. Tbtf, tax breaks, bailouts, Pomos, fed manipulation.

Sure a few little guys game the system. But nothing compares to the theft of the elite.

Btw, Unemployment insurance is insurance paid by workers. If it's extended fine, it's not like their creating jobs for people.

Wed, 11/24/2010 - 16:11 | 753259 Kali
Kali's picture

1.  Not assessing blame on any group but government and greedy bankers/corps/people.  They're the ones who collect and benefit from the taxes to keep this charade going.

2.  The ones getting the big handouts will not be the ones to suffer.  They are just buying off the "little guys" so they won't show up on their doorstep with pitchforks.

3.  Unemployment insurance is paid by workers and employers.  And no one pays enough in the system for 99 weeks of benefits.

4.  Which is the whole point, no matter WHO is receiving the dough, no one is left to pay taxes that keep the whole charade going.  Period.  Once that honey jar is gone, it all explodes.

Wed, 11/24/2010 - 17:36 | 753535 YHWH
YHWH's picture

Wasn't it the previous depression that brought us the welfare state?

Wed, 11/24/2010 - 15:12 | 753108 Ancona
Ancona's picture

Not only did we eliminate the Christmas party this year, we have eliminated bonuses, cut hours, eliminated redundant positions and sold off unused equipment. If this shit goes on much longer, we'll be out of business by this time next year.

Happy Thanksgiving all.

Wed, 11/24/2010 - 15:21 | 753131 Superdrol
Superdrol's picture

But Q3 GDP came in better than analyst expected, so time to partaaaaaaaaaaaaaaaaaaaayyyyyyyyyyyyyyyyyyyyyyyy

Wed, 11/24/2010 - 15:13 | 753111 Id fight Gandhi
Id fight Gandhi's picture

Cnbc admitted that the images of Greece rioting made the world aware of the problems in may and helped tank the market. Imagine that, show people the news and reality and they react.

This time around they'll avoid those disturbing riots over in Europe so it doesn't move the market.

Wed, 11/24/2010 - 15:20 | 753130 cossack55
cossack55's picture

Yeah, but everyone knows one does not view CNBS for news, truth, accuracy or ethical stories.  One views CNBS for the laughs.

Wed, 11/24/2010 - 15:32 | 753161 Dr. Engali
Dr. Engali's picture

And the boobs. Don't forget the boobs.

Wed, 11/24/2010 - 15:14 | 753114 oddjob
oddjob's picture

Grinch come early this year.

Wed, 11/24/2010 - 15:40 | 753185 Cdad
Cdad's picture

Nice.

But it does not matter, we are done bouncing the euro, and now we are shorting it to complete our SPY creation units trade started last night, to be obviously completed by Friday's shortened session open...as the Euro collapses because Europeans decide to defund the ECB.

But nice fundamental find there...irrelevant.  Go to the back of the line, and make your 401k contribution, serf.

Wed, 11/24/2010 - 15:56 | 753214 Cognitive Dissonance
Cognitive Dissonance's picture

Dear Uncle Warren (with lots of help from Becky Quick) is a senior keeper of the public myth. Not to mention his application of the final sugar coatings on his own personal legend. Call it his Final Fantasy.

We all love to love the kind and caring Uncle. Warren fits the bill better than any casting director from Holloywood could ever imagine. Warren does all his own writing, acting and editing. I would expect nothing less. 

Wed, 11/24/2010 - 15:19 | 753126 Seasmoke
Seasmoke's picture

the only thing keeping Santas sled from coming apart is.......the personal TARP....... all the mortgages that are not being paid and who knows may never have to be paid , which will make Santa very happy for the next 30 years

Wed, 11/24/2010 - 15:21 | 753132 Milton Waddams
Milton Waddams's picture

When were the holidays officially hijacked by the mega-retailers to become a orgy of consumerism anyways? Was it the eighties when the in-thing to do was wrap the gifts in uncut sheets of currency?

Now I realize it is all rooted in gift giving - three wise men and all - but the entire notion of exchanging trinkets while multinational retailers take a 30% cut on both ends is, to say the least, a little bit insane.

I'll give you a cabbage patch kid and you'll give me a tickle-me-elmo and together we'll give traitorous multi-national mega corporations a 30% cut of the exchange. Hey, look, footballs on the teevee!!!

Wed, 11/24/2010 - 15:35 | 753168 Crabshack
Crabshack's picture

Shrug small biz, shrug.  You will take public employees and bankers with you.  Show the masters of the universe who holdeth the real power.

Wed, 11/24/2010 - 15:39 | 753177 Eureka Springs
Eureka Springs's picture

The irony of a corporate x-mas party.. for goddess sake. A bunch of miserable greedy souless profiteers pretending to appreciate Christ's birthday or anything Christ/spirit related always made me laugh out loud.

Wed, 11/24/2010 - 15:39 | 753179 DosZap
DosZap's picture

Appears that the BIS is may be having it's own Partiiiiiiiiiii,

Those rascals,

 

http://www.gata.org/files/Lambourne-BISGold-11-09-2010.doc

Wed, 11/24/2010 - 15:55 | 753215 Thanatos
Thanatos's picture

Jenkins... The Christmas Party Caterer.... ROFL... I want an austere Grey and Black - Hugo Bossy type of party this year Jenkins..

"A lot of it has to do with perception," said Jenkins, noting that some companies are making a conscious effort to tie their parties to some form of charitable giving. "The last thing you want to do is spend money on caviar and champagne."

 

Jenkins, Jenkins, Jenkins, Tisk, Tisk, Have you learned NOTHING?

The LAST thing they want to spend money on is Employee Salaries... Caviar Shmaviar!

Wed, 11/24/2010 - 16:01 | 753232 TheClub55
TheClub55's picture

It fly like a G6 these days... no respectable banker would be caught dead in a lowly G5.

Wed, 11/24/2010 - 16:02 | 753235 Cdad
Cdad's picture

Euro/USD about to enter free fall stage.  Sweet.  The vacuum of tomorrow should be interesting.

Worry not, Bob Pisani has it all covered in the stretch.  "A little spurt at the end of today, we could go positive."  Can already tell that Shill Bob is digging in and preparing to win that Pulitzer, finally.

Shopping....more shopping stories!

 

Wed, 11/24/2010 - 16:13 | 753265 goldmiddelfinger
goldmiddelfinger's picture

must....keep...advertisers...happy...brainwash...viewers,,,must keep ....up..black....friday.....brainwash....need....water....

Wed, 11/24/2010 - 16:08 | 753254 carbonmutant
carbonmutant's picture

Gettin' a head and shoulders on gold...

Wed, 11/24/2010 - 16:14 | 753271 goldmiddelfinger
goldmiddelfinger's picture

getting wood on usd/eur

Wed, 11/24/2010 - 16:16 | 753280 goldmiddelfinger
goldmiddelfinger's picture

We can build him better than before

Wed, 11/24/2010 - 16:11 | 753260 Thanatos
Thanatos's picture

My god... CNBC is getting so thick with caked up BS that they are having a hard time selling it to themselves!

Just listen to them... You can see it in their eyes.... screaming... Don't Believe Me!

 

Wed, 11/24/2010 - 16:17 | 753285 goldmiddelfinger
goldmiddelfinger's picture

Could Mandy be look more lip smacking good?

Wed, 11/24/2010 - 16:18 | 753291 Arkadaba
Arkadaba's picture

 

Hey Tiffanys is doing well: 

UPDATE: Tiffany Profits Jump 27%; Holiday Off To Strong Start

http://online.wsj.com/article/BT-CO-20101124-708845.html

 

Wed, 11/24/2010 - 16:28 | 753333 Kali
Kali's picture

Sure, everything will be fine for Tiffany until the hordes start smashing their windows and hanging their clients on the lampost outside.

Wed, 11/24/2010 - 17:12 | 753460 Arkadaba
Arkadaba's picture

I *was* being sarcastic ....

Wed, 11/24/2010 - 16:24 | 753313 trav7777
trav7777's picture

no cutbacks among bankers

Wed, 11/24/2010 - 16:27 | 753325 zabaneh atashin
zabaneh atashin's picture

as I read Mr. Durden lamenting essay, the only sign of X-Mas is background music reflecting the event, while waiting for Godot.

Wed, 11/24/2010 - 16:39 | 753365 rrbluefin
rrbluefin's picture

HO HO HO Merry Barackmas!

Wed, 11/24/2010 - 17:31 | 753506 Non Passaran
Non Passaran's picture

Ha ha ha has been gaining popularity, though!

Wed, 11/24/2010 - 17:12 | 753462 Jerry Maguire
Jerry Maguire's picture

And meanwhile, there's a big dustup over "squatters" in LA.  They're moving into foreclosed, vacant homes without authorization.  People are upset.

http://www.nbclosangeles.com/news/Squatters-110233439.html?dr

 

Wed, 11/24/2010 - 17:36 | 753536 Ned Zeppelin
Ned Zeppelin's picture

We're in real estate and needless to say, the Christmas party is long gone as a feature of annual corporate life.  

The Dow, S&P and NASDAQ measure the performance of how many companies? 30, 500 and about 3200. If life is good there, so we are told, it must be good everywhere.  This is where the BS is tucked away.  Corporate profits up. That may be so for the relative Few, and particularly the well-connected and politically wired, who received the benefit of the oligarchy's support.  But not so for The Many, who are scraping by.  That is what is going on. 

Wed, 11/24/2010 - 17:39 | 753542 One_Eyed_Pony
One_Eyed_Pony's picture

XMAS Party over at CNBC studios in New Jersey!!!  Well, since Jefferey Immelt and company recieved ~$80 Billion in Federal backing... just as long as the propaganda machine broadcasted the agenda across all channels for the current regime. They need to "Share The Wealth" in the Council of Economic Advisors... INSIDER PRESERVATIONS. note: (different than insider trading) sarcasm off

 

Wed, 11/24/2010 - 17:40 | 753548 YHWH
YHWH's picture

Did you guys ever think that maybe many of these businesses and positions going under are just not economically viable?  Seriously, how many Massage Therapist do we need?  How many shopping malls are really needed?  Do we really need half a million lawyers in America?  Maybe only a FIRE/PONZI economy can support the employment levels we've had in the recent past.

Wed, 11/24/2010 - 18:12 | 753633 Ned Zeppelin
Ned Zeppelin's picture

Good question. Now ask yourself the follow-up question, and take it to an extreme: suppose the most efficient, money-making U.S. economy required half the people who want a job? So half the people made lots of money, and the other half starved. I think they called that an aristocracy, and it leads to bloody revolutions.  And once an aristocracy gains a foothold, it doesn't give up its privileges except by force.  Now add free elections, where the only candidates who are supported by, and answer to, the aristocracy. And add ample freedom in words, but less and less possibilities of improving your position in life, because you were born on the wrong side of that line. 

Shouldn't the government rules benefit the many, and not the few, if only to encourage a stable society? By tipping the law in favor of the few, don't we head down a slippery slope towards instability and ultimately bloodshed to correct the gross inbalances? How hard is this? 

Wed, 11/24/2010 - 19:30 | 753763 YHWH
YHWH's picture

Isn't that what we have all that generous welfare (which Tyler highlighted yesterday) for?  According to that post, people on welfare make out better than workers.

Wed, 11/24/2010 - 23:10 | 754031 i-dog
i-dog's picture

This is where having ANY government fails. Rules will only ever serve the rule-makers. The rule-makers will only ever serve those who can afford to fund and bribe them.

How many elections do Americans need to observe before this reality strikes home? There have been about 100 congressional elections so far, yet "the people" expect it all to change with the 101st!!!

A free society would be based solely on voluntary contracting between individuals ... whether to contract for a simple service, or to contract between groups with common interests to achieve mutually beneficial objectives. Competition and entrepreneurial niche-filling will ensure no monopolies -- over violence or markets.

Oppressive corporations can only grow through government protection -- firstly, by granting an effective (or stated) monopoly in a market (often through unfair subsidies or sole government contracts) and, secondly, by providing limited liability which allows a corporation to privatise profits and socialise losses. Corporations should be subject to the same penalties (full personal liability and possible bankruptcy of the shareholders) for failure as a sole trader.

Wed, 11/24/2010 - 22:41 | 754012 Freewheelin Franklin
Freewheelin Franklin's picture

It's hard to have a party when you are your company's only employee.

Wed, 11/24/2010 - 23:27 | 754062 Zeddicus
Zeddicus's picture

The irony in this for me is after 20-something years in IT and not having a Christmas party since the .com bubble burst, I completely changed careers and now for the first time in many years, my new employer is having a Christmas party!  I'm an EMT for a local private ambulance company, and while I make 1/5 of what I used to make, I'm happier with my work now than I've ever been, tech bubble mania included.

Wed, 11/24/2010 - 23:42 | 754082 laughing_swordfish
laughing_swordfish's picture

This is the winter of our discontent.

As the U.S. economy takes the next leg down in 2011 ( I expect 11.5-12% U-3 unemployment and 26-30% U-6), the cracks will widen in the dam face.

Expect a reprise of the 1932 "bonus marchers" in 2011 as the march of the "99ers" takes place in Washington DC sometime next spring, complete with Bernankeville and Obamaville squatter camps.

Obama, bowing to the will of the GOP House majority, will call on the regular army to dislodge them.

This will be the signal for the General Uprising, at which local populations all over the U.S. will be urged to seize and detain local members of the Oligarchy, and detain them for Revolutionary Justice. At this point, the Army will in turn seize the Congress and the White House, wjich will shortly be followed by a majority of the Congresscritters being given the Benito Mussolini/Clara Petacci treatment.

It will be a combination of Paris 1789 and St. Petersburg 1917.

All we need is our own Lenin, our own Trotsky, our own Stalin.

I'm sure this country can produce them.

Thu, 11/25/2010 - 00:23 | 754132 saulysw
saulysw's picture

In my company, last year we went all out in the XMas party, spending almost AUD$1M! I kid you not, we hired out an island in the harbour for the almost 1,000 people, fully catered with a band that was hot, hot, hot!

This year.... nothing.

Hmmmm....

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