Word: analysts
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...nothing to suggest it has made any progress toward achieving its stated objectives. To be fair, about C$40 billion has been spent to date, but Canadian banks are just sitting on the new cash like the proverbial goose. "There is no evidence of more credit becoming available," says analyst Michael Goldberg with Toronto-based Desjardins Securities Inc. "In fact loan growth in the economy is slowing...
...market analysts agree on the significance of today's market signal. "I follow the S&P 500 because that's where the money is," says Phil Roth chief technical analyst at Miller Tabak in New York City. "And there the index is still about 4% above its November low." Even so, Roth believes Thursday's Dow drop and its new low-water mark will make the next few trading days anxious ones. "It's important psychologically," he says, noting that negative sentiment has kept buyers at bay, and today's technically significant drop could make them even more skittish. Days...
...appears headed for trouble. Corporations and consumers are slashing travel budgets just as a wave of new hotels is reaching the market. Some 5,400 hotels will likely open globally in 2009 and 2010, the biggest surge in a decade, according to research firm Lodging Econometrics. UBS real estate analyst Eric Wong predicts a glut. As a result, revenue per available room - a common measure of hotel performance - is expected to fall in every major market in 2009. "Everybody was trying to grab a slice of the action," says Wong. "Now a lot may start to unravel...
...company's long-term viability will require a focus on more than just pricing. Harley-Davidson must reconsider its dependence on its popular touring bikes - which one industry analyst, Tony Gikas, of Piper Jaffray in Minneapolis, says "look like geezer bikes." To some degree, Harley-Davidson can't dramatically alter the bikes' looks, lest it alienate its core patrons. Nevertheless, Gikas says, "You don't find too many 21- and 22-year-old guys with their girlfriends riding around on Harleys. Or wanting...
...passionate, committed guy, totally idealistic." - Michelle Galanter Applebaum, a longtime steel industry analyst, New York Times...