Delos Smith
Delos Smith
corporate equity greed lack market people
Corporate scandals, equity market problems, a lack of transparency, a lot of greed -- it was not just the Dow falling, it was all of these things that make people very, very nervous.
economic function largest longer major market state systems
There are no longer really state economic systems that can function by themselves. Most of our largest corporations are in every major market in the world. We're intertwined.
biggest empty market people
It's the biggest market we have, because people don't live in empty houses.
drained market share
The consumer, I think, is healing. There's still a lot of market share out there. I don't think we've drained anything away.
consumers kept retailers
I think consumers are more cautious, and I think the retailers have kept inventories well under control.
job people promises seeing though
People are seeing we're not getting job growth, even though there have been a lot of promises of it. That's the key; for people to be satisfied, you have to have job growth.
extremely june numbers weakness weather
June numbers were extremely strong, which suggests May's weakness really was the weather -- that it was not just an excuse.
certainly consumer effect gas mean negative numbers prices retail sales seen weekly
We haven't yet seen the negative effect of gas prices on consumer spending. It's certainly not here in these numbers. That doesn't mean it's not there. Certainly the weekly retail sales numbers have been sluggish.
certainly low mean report start takes time turning
When it's as low as it was, it takes time to start turning it around. Today's report doesn't mean there's a boom, but it certainly is encouraging.
absolutely pressures price
There are absolutely no price pressures in our system.
consumer defensive nervous uncertain
You do have a defensive consumer. If the consumer is very nervous and uncertain about what is going to be happening, you don't know how they're going to react.
concerns darkness parts
There are parts of the world that are in darkness and that concerns me.
eat expenses movies normally people theaters
We're going to see people trimming their expenses here and there. They probably will not eat out as much or go to movies as often as they normally would. So restaurants and theaters are also vulnerable.
adjust consumers economic economy economy-and-economics growth mean view
We boosted economic growth in one quarter, but that doesn't mean it's sustainable. We still have a long-range view that the economy is changing, and consumers will have to adjust to it.