Recession's impact on LBC markets???

[vagt6]

Regardless of what Fed Reserve Chair Ben Bernanke calls the current economic downturn, we're in a recession. The real definition is pure semantics, it's nothing but an academic exercise to call it anything else. He actually used the "R" word yesterday to a Congressional committee. The stock market reacted accordingly.

A few of us are old enough to remember how the antique vehicle market reacts when economic markets go south. Generally, folks become a bit more strapped for cash and less like to spend money on frivolities such as LBCs, etc. It's a good time to buy. As such, generally reduced pricing on LBCs occurs as a recessionary trend continues.

If this is true, may we expect some "fire sale" pricing on LBCs??, at least in the short term? That is, will folks soon start dumping their LBCs (and other collectibles) at less than retail values for fast cash?

I wouldn't be surprised. It will be very interesting to watch the LBC sales markets in the next few months.

What do youse guys think?

Maybe we're already seeing reduced pricing?? Some strange stuff on eBay recently, I think.

 

[Dave Richards]

I think the US economy is growing slower than it has been. Our business (A&E Services) is usually a harbinger of things to come. We're (and all the A&Es I know), are as busy as ever.

Call me an optimist, but I don't think the fiscally responsible will feel much of a pinch. (That being said, there are some structural problems on Wall Street that have become apparent to everyone.)

If you have lots of debt and are an LBC owner, and thinking of dumping your LBC because you can't keep up, please contact me...

 

[vping]

I work in a sign company that services large companies, like banks, financial institutions...we are swamped. If we are busy, that means the companies we are making nameplates for are on a hiring and building frenzy. One in particular, Bank of America is ordering signs in the thousands for all of their coporate offices across America. We can barely keep up.

This to me is a "sign" that the economy is not doing too bad. At least in our world anyway.

 

[vagt6]

Dave and vping, I don't disagree with your comments on the robust economny in your particular sectors, however, many folks are feelin' some pain . . .

According to Reuters, "the number of U.S. workers applying for unemployment benefits soared by 38,000 last week, posting the highest reading since September 2005."

Also, The AP reports that for two months in a row U.S. employers have cut jobs, a situation that hasn't occurred since May and June 2003, when the effects of the 2001 recession still remained.

<span style="font-style: italic">These</span> are the folks who may start cost-saving measures, and selling collectibles (e.g., LBCs).

Possibly one of the first signs of a recession on the LBC market would be a marked increase of LBCs for sale, in addition to reduced sales pricing.

Has anyone noticed an increase in the usual markets (eBay; Hemmings; etc.,), or changes in pricing lately?

 

[Tinster]

I think the US economy is growing slower than it has been. Our business (A&E Services) is usually a harbinger of things to come. We're (and all the A&Es I know), are as busy as ever.

The A&Es here on the island are dying for lack of projects.

To cut costs, the A&Es who do have work are preparing very
few detail drawings. They are taking out written text projects-

"Contractor shall submit proposed shop drawings with bid price."

I'm glad to be in semi retirement.

d

 

[Dave Richards]

My buddy runs an MEP consultanting engineering firm to A/Es. He likes to be at about 24 employees, he's at 32 and turning work away.

Much of this is probably related to unprecedented school construction spending ($900 million in one district alone over 120 months).

If Keynes was right, each dollar spent has a multiplier of about seven. The effects of this phenomena can't be kept hidden, even from supposedly politically motivated media.

One should be careful when viewing, or listening to reports, especially about statistics.

I wonder though, with so many negative reports, if people won't respond as if the US was in recession.

Tinster, how close does PR follow US mainland?

 

[angelfj1]

Dave: How many schools can you buy for $900M. Around here, Chester County, PA, not so many. I am all for education, but some of the schools we have here are more like country clubs. I'd rather see it go into the pockets of the teachers.

 

[Dave Richards]

Dave: How many schools can you buy for $900M. Around here, Chester County, PA, not so many. I am all for education, but some of the schools we have here are more like country clubs. I'd rather see it go into the pockets of the teachers.

I'm not exactly sure, I think the money is all earmarked for renovations, some buildings are loaded with asbestos and have major needs. They are also rehabing a vacant school moth-balled in the late 1970's.

Teachers are very well paid here, as most unionized, government workers here are. If you're a teacher, come here, you'll be well compensated.

 

[bugimike]

I work in a sign company that services large companies, like banks, financial institutions...we are swamped. If we are busy, that means the companies we are making nameplates for are on a hiring and building frenzy. One in particular, Bank of America is ordering signs in the thousands for all of their coporate offices across America. We can barely keep up.

This to me is a "sign" that the economy is not doing too bad. At least in our world anyway.

"A business with no sign is a sign of no business!!"

I have also been in the sign biz (for many years!) and actually when the sign business starts doing well, I have noticed that things are getting more desperate for the retailer and he has to advertise more to try and generate business!!

 

[Shinsen774]

I still have 770 vacant jobs I'm trying to fill and am fighting a 2.5% unemployment rate. No recession here in Virginia.