Delos Smith
Delos Smith
absolutely pressures price
There are absolutely no price pressures in our system.
absolute consider economic gas good high misleading natural prices signs
I always consider excluding gas prices misleading -- it's an absolute requirement for most people. Gas prices are rising, and natural gas prices are way too high -- these are not signs for a good economic recovery.
certainly consumer effect gas mean negative numbers prices retail sales seen weekly
We haven't yet seen the negative effect of gas prices on consumer spending. It's certainly not here in these numbers. That doesn't mean it's not there. Certainly the weekly retail sales numbers have been sluggish.
gasoline higher impact prices
This is not a very pretty picture. The higher gasoline prices had more of an impact that most had expected.
consumers economy eye front gas generally global happening jobs keeping prices remain terms
The economy is generally chugging along. From the consumers' perspective, jobs remain an important issue. Consumers will also be keeping an eye on gas prices and what happening on the global front in terms of terrorism.
average cents current effect felt gallon higher level price prices year
The current average price of $1.90 a gallon is still about 40 cents higher than the level a year ago. So the effect of higher prices will be felt for some time.
The PPI is just perfect. This is just what we wanted.
besides companies cultural india interested political retailers ultimately understand western
Besides the political issues, retailers interested in India have to understand the cultural differences and sensitivities. Ultimately India's still a very complicated world for Western companies to understand.
good nervous year
We had a very good year in 2005. But it was a nervous world.
economic function largest longer major market state systems
There are no longer really state economic systems that can function by themselves. Most of our largest corporations are in every major market in the world. We're intertwined.
extremely june numbers weakness weather
June numbers were extremely strong, which suggests May's weakness really was the weather -- that it was not just an excuse.
job people promises seeing though
People are seeing we're not getting job growth, even though there have been a lot of promises of it. That's the key; for people to be satisfied, you have to have job growth.
consumers kept retailers
I think consumers are more cautious, and I think the retailers have kept inventories well under control.
eat expenses movies normally people theaters
We're going to see people trimming their expenses here and there. They probably will not eat out as much or go to movies as often as they normally would. So restaurants and theaters are also vulnerable.