you want to know how bad it is out there?

[oldrolex]

My AD has been about the same this year as last year.

[ttannert]

They are counting on us!!!

[Singslinger]

I can't speak for elsewhere, but the downturn is definitely being felt in Singapore. I passed an ADs window (The Hour Glass at Lucky Plaza) and was amazed to see models on display that you would not normally see - Milgauss, green Sub, GMT2c - and would normally have been stashed away for special customers. According to my AD, there simply are no buyers.

Meanwhile, the premiums on the GV, Daytona and Deep Sea have disappeared and used or secondhand watch shops which used to pay cash have stopped doing this -if a customer wants to sell a watch, the shop now takes it in on consignment. If it's sold, the shop takes a cut. Basically, cash is king at the moment.

[Wolfgang427]

Originally Posted by SLS

Well if the media would stop making people think there is no money out there, which there is...and a lot of it, it would help start to turn things around. Yes, sales figures will be down this year, and they probably will be down for the next couple when compared to 2004-2006, but look where that money was coming from. It's amazing how things start to change for the better when you have a positive attitude.
~Scott

Agree. First it was the oil and how we are running out of it and blah blah blah, now oil and gas is cheapest its been since 7-8 years ago (cheaper by the gallon then bottled water by me). All you here is how there's no money for this and no money for that, but in reality the majority of people are in the same boat they've been in since last year, yet the media has them scared to death about spending their money.

[dcash0615]

I think Warren Buffet said this.... or something very simliar.

Originally Posted by boa2

Well, as the Oracle of Omaha says, "When their greed turns to fear, I buy".

[SPORTSFAN]

Originally Posted by SLS

Well if the media would stop making people think there is no money out there, which there is...and a lot of it, it would help start to turn things around. Yes, sales figures will be down this year, and they probably will be down for the next couple when compared to 2004-2006, but look where that money was coming from. It's amazing how things start to change for the better when you have a positive attitude.
~Scott

I am sorry but I do not think that the media are to blame here.
$17.4 billion rescue for the car industry would suggest that there is not plenty of money out there.

Regards Mike.

[Letsgodiving]

Originally Posted by dcash0615

I think Warren Buffet said this.... or something very simliar.

Buffet is the Oracle of Omaha.

[bradg]

Pure Greed and politics!!! Thats the bottom line! A lot of these people should be hung for what has happened. Greed...the auto workers get a 95% pay while the plant is closed... is something wrong there?? They might be buying the Rollies.

[mretzloff]

Originally Posted by Chozn1

but then turn on CNN

See, there's your problem.

[buz-lh]

It's not bad everywhere. Look at this: Antiquorum sale this week:


Lot 513

Ref. 6240 Stainless Steel “Paul Newman”, So-called “John Mayer” Rolex, “Oyster Cosmograph Daytona” Ref. 6240/6263. Made circa 1965.

Sold including buyer's premium: USD 96'000

I would like to see the numbers on some of the more common vintage pieces to see how they fared, but 96k for a Daytona is a pretty good lick.

[SLS]

Originally Posted by SPORTSFAN

I am sorry but I do not think that the media are to blame here.
$17.4 billion rescue for the car industry would suggest that there is not plenty of money out there.

Regards Mike.

Mike, granted the troubles extend way beyond the media, but you missed my point. Everything the media reports is negative and enough is enough! The world is in a giant $hit storm and everyone knows it, but tell me what good is it doing to be constantly reminded of it? Report something positive! Think about it, when was the last time you read or heard something good? A positive attitude can really change ones perspective.
~Scott

[cmr]

Originally Posted by bradg

Pure Greed and politics!!! Thats the bottom line! A lot of these people should be hung for what has happened. Greed...the auto workers get a 95% pay while the plant is closed... is something wrong there?? They might be buying the Rollies.

that is nothing more than severance pay. if it is ok for salaried people and executives why isn't it ok for them? salaried people are taught to negotiate a severance pay package when they go in for the job. the uaw does it for their membership. what's the difference? why is it not ok for the working people?

[madrin]

...actually, no, the job bank payments go out indefinitely,it's NOT severance , plus you get HUGE incentives to retrain at school in pretty much any field ( In know, because I took advantage of that program to get an AP certificate) which is silly, but it WAS negotiated. Why should anyone get to take it back?

....Auto workers make 3-5 times more per hour than teachers.

LOL...'nuff said. The UAW did a GREAT job of negotiating. Second to none, but in the end they shot themselves in the foot.

[cmr]

Originally Posted by madrin

...actually, no, the job bank payments go out indefinitely,it's NOT severance , plus you get HUGE incentives to retrain at school in pretty much any field ( In know, because I took advantage of that program to get an AP certificate) which is silly, but it WAS negotiated. Why should anyone get to take it back?

....Auto workers make 3-5 times more per hour than teachers.

LOL...'nuff said. The UAW did a GREAT job of negotiating. Second to none, but in the end they shot themselves in the foot.

indefinitely? show me that contract language. labor is 10% of gm's cost. sorry man, union labor has nothing to do with their troubles.

edit to add job banks program contract language.

no eligible employee will be laid off over the term of the agreement, except under the following specific circumstances. 1)Reduced customer demand, a maximum of 42 weeks over the life of the agreement (commonly known as loss of marketshare); 2)Acts of God or other conditions beyond the control of management; 3)Conclusion of an assignment known in advance to be temporary; and 4) Plant rearrangement or model changeover.

[SPORTSFAN]

Originally Posted by SLS

Mike, granted the troubles extend way beyond the media, but you missed my point. Everything the media reports is negative and enough is enough! The world is in a giant $hit storm and everyone knows it, but tell me what good is it doing to be constantly reminded of it? Report something positive! Think about it, when was the last time you read or heard something good? A positive attitude can really change ones perspective.
~Scott

Hi Scott,
I did not miss your point....

I take the opposite veiw.

I want the media to report this.(I do not believe that they can overdo it).

IMO one of the biggest problems is that people have buried their heads in the sand for too long.
Run up the credit card....Re-mortgage.....run up the cc...etc.Finance the car,boat,TV,Kitchen,conservatory,carpets,Rolex, ad nausium

I saw a TV program 3 years ago called "Why worry about debt when you can put off the day of reckoning forever?".......
Well guess what.......You can't.

I believe in having a positive attitude,but you can't deny reality,that is called being delusional.
Most of the people that I know understand the current problems,but there are still plenty that don't,so I would tell the media to bang on.

Regards Mike.

[Jimbits76]

Originally Posted by SPORTSFAN

Hi Scott,
I did not miss your point....

I take the opposite veiw.

I want the media to report this.(I do not believe that they can overdo it).

IMO one of the biggest problems is that people have buried their heads in the sand for too long.
Run up the credit card....Re-mortgage.....run up the cc...etc.Finance the car,boat,TV,Kitchen,conservatory,carpets,Rolex, ad nausium

I saw a TV program 3 years ago called "Why worry about debt when you can put off the day of reckoning forever?".......
Well guess what.......You can't.

I believe in having a positive attitude,but you can't deny reality,that is called being delusional.
Most of the people that I know understand the current problems,but there are still plenty that don't,so I would tell the media to bang on.

Regards Mike.

Mike I'm with you.

You wouldn't believe the amount of people I know or have heard saying that they are paying for the holiday season on credit (just look at the high street figures to see the trend) becuase even though the money isn't there, the still want the Christmas "they deserve"!!!!!!!!!

Let's see how they get on next year!!!!!!!

The media need to drive this home to these idiots. Fair enough the bankers and lenders were greedy but this greed extends to the home owners and occupiers who have signed off their assets and remortgaged to "keep up with the Jones'!".

The end of boom or bust...gimme a break!!!!!!!

J

[Ormiboy]

ill conceived media coverage, taking advantage of easy storeys is a negative action which does impact on the economy. i do not know any senior banking executives who may infom me as to what is going on in the economy. my information comes from the media. this feeds back to the economy due to the impact the media scare tactics have on my spending pattern. its very hard to ignore what comes to you from your tv every time you switch it on and i dont think you should but the media should have a certain amount of responsibillty to weight the information they provide to you. this negativity is unhealthy, we have the right to be informed but when the media take advantage of a particular issue the they no longer inform but shape you`re perspective.

Willie