Shafiq Lokhandwala, CEO of NuView Systems, comments on the industries and professionals that are best suited to weather the economic downturn. Interview with Kelsey Hubbard.
12/3/2008
"My formula for success is rise early, work late and strike oil." —John Paul Getty
Consumer Credit outstanding fell $14.8b in Sept seasonally adjusted, almost $5b more than expected and marks the 11th month in the past 12 of declines. At $2.456T outstanding, it is 4.9% below the record high in July '08. After a flat reading in Aug, (didn't fall b/c of the CARS program), non revolving debt outstanding fell by $4.9B. Revolving (mostly credit cards) balances outstanding fell by $9.9B. To fully put into perspective today's data, look at the current level of consumer credit (doesn't include mortgages, the biggest chunk of consumer credit) relative to GDP. As of Q3, it totaled 17.2%...
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December 4th, 2008 at 3:08 am
One word. Just one word:
Prison guard.
December 4th, 2008 at 3:11 am
Better yet: prison warden. Set yourself up like James Gandolfini in the Last Castle. Oh, wait…that didn’t turn out too well.