? Storm Clouds Breaking Up ?0

Posted by Thomas Miller, CCIM

I would hate to jinx anything here, so I will simply report a few observed facts. The Reno Gazette Journal Business section of 4/10/09 reports the following: “Wells Fargo Reports $3 Billion 1Q Profits”, this is a record first quarter earnings for the bank, surpassing analysts’ estimates. Anticipation is high as other banks report their Q1 status next week.

“Economy Skidding Along Bottom”, fresh signs show economic decline may be leveling off. Stock investors, shoppers and home buyers are less jittery. Once-frozen credit markets are slowly thawing. Economic indicators that had been going from bad to worse are showing signs of stabilizing. There were fresh signs Thursday that the full force of the recession may be petering out. A strong report from Wells Fargo, a drop in unemployment benefit filings and several retailers predicting solid April sales.

“Wall Street Logs Fifth Straight Week Of Gains”, Stocks surged Thursday to their highest level in two months. NASDAQ posted its highest finish of the year, giving it a gain of 4.8% for 2009. The blue chips hadn’t logged five straight weekly gains since October 2007, when the stock market hit it’s peak. Since the rally began on March 10th, the Dow has gained 22 %, the best performance since 1933.

clouds-breaking-up

These articles were not cherry picked over a period of time; they were all in one daily paper !

An internet article noted that consumers are still buying in lots of areas as well.

Personal Care Items: We still have to brush our teeth and look good.

I Phones and Blackberries: We’ve got to be ready for that next sales call while still staying in touch with every conceivable global event, 7-24. ( gotta wonder if we really need all that info. or does it really just dilute our focus ?).

Video Games: I guess we need the escape, however fitness videos are selling well too.

Gym Memberships, Toys, Car Maintenance, Casual shoes, Restaurants, Movies and Mini-Laptops (aka internet books ).

So the retail sales arena isn’t really as bad off as we thought.  

And lastly, our local newspaper has started a new section called ( drum roll…..)
“GOOD NEWS” . A transparent attempt to fend off their well deserved criticism that news outlets only report doom and gloom, thrive upon it and create it if need be. However, I’ll give credit to them for offering it up and I sincerely hope it lasts. In today’s world, I really do enjoy hearing that John Gilroy was promoted to jr. assistant shift manager at the pet shop, that Girl Scout Troop #258 won the Reno cookie sales competition, that George and Thelma Karras celebrated their 45th wedding anniversary at the Elks Lodge, surrounded by their 11 grandchildren and that Sara Jones’ bicycle was only misplaced at school and not stolen. Makes me feel like I am living in Mayberry, USA and that makes me feel good for same odd reason. 

AND…..the Reno Aces open their new baseball park in a matter of days !!!

All in all it should give us reason for new hope. Come on, you have to admit that things ARE looking up !

Now go out and buy something.

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About the Author

Thomas Miller, CCIM

Thomas Miller, CCIM is the president and broker of Miller Industrial Properties in Reno, Nevada. He has worked in industrial real estate since 1991, with 15 years of previous experience designing and building industrial warehousing and manufacturing facilities in the northern Nevada market. Contact Tom at tom@mipnv.com or 775-742-9891.

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