By Maxine Shapiro, KERA 90.1 commentator.
Dallas, TX – It's Friday so "It's Only Money," a review of the big and not-so-big stories of the week. I'm Maxine Shapiro with KERA Marketplace Middays.
On the positive side, wait?there is no negative side today! Every economic figure that came out this morning was pointing to a recovery. Personal-consumption expenditures, which are a measure of price changes in consumer goods and services, rose four tenths of a percent, while personal income also rose much higher than expected. I don't know anyone whose income rose, but somebody's did. Then, a manufacturing index showed that segment hopping. In fact, it's been a year and half since it's seen so much activity. The consumer continued to spend in January, and everything is coming up roses.
We were selective about where we spent. It wasn't at Neiman Marcus. While discount retailers bask in higher-than-expected earnings, Neiman Marcus' quarterly earning fell almost 40%. We'll have to see if all this good news will allow the consumer to begin shopping for luxury items. I'm waiting.
EDS has suggested that the recession never hurt them. Well, they're cooking now. Literally every other day this week online at the Dallas Business Journal, there were articles about some new deal made by EDS. "EDS gets deal with Spanish financial services firm." "EDS gets $100 million Pennsylvania contract." "EDS signs $100 million in European deals." EDS is doing very well.
In the "Who cares?" category, Disney is splitting its stores to accommodate the baby boomer who would rather be Peter Pan. There will be a children's store and a separate adult store to buy all your favorite Disney items.
And in the "Who REALLY cares?" category, Wall Street Journal Online's pressing question of the day: should motorized scooters be allowed to operate on sidewalks? Take a guess at the answer. For KERA Marketplace Midday, I'm Maxine Shapiro.
Marketplace Midday Reports air on KERA 90.1 Monday - Friday at 1:04 PM.