Did retailers sell enough on "Black Friday" to make up for a dismal year? I didn't go out early like some people I know, but everyone got what they wanted. Some people were able to get multiples of the specific deals they wanted. Last year, this would have been impossible. Is this a sign of the times? What type of results are you expecting for Quarter Four?
I think that this holiday season is going to sustain or break the economy. We are a nation of consumers, and if we stop consuming, then we will have successfully starved the beast, so to speak. I'm more than worried. I shouldn't be, though, since my industry is slightly isolated from retail exposure. Insurance is pretty well insulated from most problems, except of course the pending commercial real estate collapse. That is a whole other story.
So, what steps has the government taken to prepare the people for a potentially bad start to 2010? Have you started to nudge China to let them know that you may try to pass another stimulus package? I think this is inevitable, even though it won't happen. I guess what I would like to see is for you or some other government official to begin to prepare us for a really bad year if we don't have a stellar holiday sales season. I think you should make this a priority. Health care reform can wait. Our economic recovery cannot.
Sincerely,
Jon Taylor

