Says the NOAA reported we had the 29th coolest April in 114 years/
Ignores the same agency reporting that average temperatures in March
were the second warmest on record for that month.
http://www.rushlimbaugh.com/home/daily/site_050908/content/01125104.guest.html
RUSH: I am holding here in my formerly nicotine-stained fingers, ladies
and gentlemen, the United States Climate Summary for April of this year.
For those of you in Rio Linda, that was just last month. The average
temperature in April, United States, 2008, was 51 degrees. That 51
degrees was one degree Fahrenheit cooler than the average temperature in
the twentieth century, 1901 to 2000. It was the 29th coolest April in
114 years, ladies and gentlemen. The temperature trend for the period
of record, 1895 to present is 0.1 degrees Fahrenheit per decade, which
means the average temperature increase or decrease of 0.1 degree
Fahrenheit per decade was blown in one month. April of 2008, the 29th
coolest April in 114 years.
Thinks it is good news that "Only" 365,000 new jobless claims were
filed last week. AS always he never mentions that number at the same
time as the monthly jobs created numbers which is regularly less than
the jobless claims per week.
Notes higher retail sales, forgets to note that growth was limited to
box box retailers or that consumers are cutting down on discretionary
purchases.
http://www.rushlimbaugh.com/home/daily/site_050908/content/01125104.guest.html
RUSH: Try this economic story. The headline alone: "Stocks Rebound,
Retail Sales Higher, Jobless Claims Drop." Do you think the Drive-Bys
meant to put all this in one place, in one headline? "Stocks are
mounting a tentative recovery after yesterday's 206-point drop in the
Dow... The labor department says the number of workers filing first time
claims for unemployment benefits fell sharply last week. New claims
totaled 365,000, which is a drop of 18,000. Some retailers saw a bit of
sales relief last month." All this good economic news (other than the
oil price) in one place, one headline.
http://www.forbes.com/afxnewslimited/feeds/afx/2008/05/08/afx4986420.html
NEW YORK (Thomson Financial) - Shares of department stores mostly
slumped Thursday, pressured by disappointing same-store sales from
Bon-Ton Stores Inc. and Retail Ventures Inc. Saks Inc., however, was a
standout, edging higher after the luxury retailer's April results
handily beat Wall Street expectations.
Shares of Bon-Ton Stores (nasdaq: BONT - news - people ) tumbled 6.5%% to
$9.25 after reporting sales from stores open at least a year fell 0.9%%
in April from year-ago levels.
The fashion apparel and accessories retailer said total sales for the
four-week period ended May 3 fell 1.3%% to $209.2 million.
'April had a good start but a disappointing finish as the retail
environment remains challenging and traffic remains inconsistent,' the
company said in a statement.
Retail Ventures (nyse: RVI - news - people ) tumbled 8.7%% to $4.52. The
Columbus, Ohio-based department store operator said its same-store sales
fell 4.3%% for the thirteen weeks ended May 3.
Elsewhere, Macy's Inc. (nyse: M - news - people ) tumbled 4%% to $23.76
and Gottschalks Inc. (nyse: GOT - news - people ) dropped nearly 1%% to
$2.23. Nordstrom Inc. (nyse: JWN - news - people ) slipped 2.7%% after
reporting April same-store sales fell 3.8%%, wider than the 1.8%% decline
expected by analysts.
The soft sentiment also weighed down shares of several department stores
who posted more upbeat retail sales numbers.
J.C. Penney Co. (nyse: JCP - news - people ) slipped 3.4%% to $42.49. The
company reported a 1.7%% decline in same-store sales, narrower than the
4.6%% decline predicted by analysts.
Kohl's Corp. (nyse: KSS - news - people ) declined 2%% to $47.77. The
department store chain lifted its first-quarter earnings outlook as
same-store sales beat expectations.
Bucking the downward trend, Saks (nyse: SKS - news - people ) edged up 7
cents to $13.13. The retailer said April same-store sales rose 23.9%%
from a year earlier, well above the mean estimate of analysts for an
increase of 1.1%%.
