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Panic in the house cards

Don Rogers

Shoot, we would be working for a private outfit, just our luck. Also, it turns out that stock options apparently go pretty much to the fellas who already make the big bucks and the big decisions. Ensconced as we are in this corner in middle management, we wouldn’t be seeing much of those investments anyway.

But with the stock market’s “irrational exuberance” sliding into a rather silly panic, maybe it can arranged for a frightened exec to flip a few bones our way.

We’d take ’em, in a heartbeat. The Dow and less venerable indexes have dropped to levels just before the dot.scam began.

Armed with perhaps truer accounting and a speckle of wisdom with the hangover from the stock bubble, the market will soon enough march forward again on a more solid foundation.

Of course it will. And the timid souls who are getting out now will punch themselves, again. Seeking the quick fix, they take the quick hook and lose both ways. Might serve them right looking for the easy routes to wealth and happiness.

The more sagacious, or stubborn, stock investors will do very well b – as in life itself – neither panicking nor getting too excited at the market’s turns.

Our valley has lived well off the fruits of Wall Street’s plump gains, and will continue to thrive with the bounceback. In the short run, it will be interesting, and a little painful, to see how we do during these more skittish times.

The real estate people will tell you, correctly, that property trumps all anyway. So never mind with the stock options; we’ll go for the house instead.

Travel plans

A USA poll the other day seems to shed light on the drop-off in American tourism. The source was International Communications Research for the 2002 American Express Leisure Travel Index.

The survey found 62 percent of people polled said Sept. 11 did not affect their plans. Potentially not good for us, if 38 percent thought twice as a result of the terrorism.

Sixteen percent said they’d only travel in the United States. Good. Thirteen percent said they’d travel only by ground. Hurts for the more profitable “destination” crowd, but would seem to reflect an increase in drive-ins from Denver, Texas and western Midwest.

Ten percent would only travel if they found a bargain. Hmm. Six percent said they’d take more vacations; 5 percent said they’d take fewer vacations – wash there. And 5 percent had already postponed plans.

D.R.


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