Hazy, lazy days of summer

I'm not one of those bloggers who think the world can't live without their (daily, weekly) postings I'm not one of those bloggers who think the world can't live without their (daily, weekly) postings; therefore when I take a vacation I actually take a vacation--thus, no new blog last week.

Three weeks ago I posited that the end of this record recession might be coming into view, and I still believe that, because the economy related news in the last month--even though spotty--has been more positive than negative. Most of the experts with solid credentials cautioned that there will be bumps along the road to recovery. Turns out they were right on this one, as the refrain heard and read today is "at least the news (today or this week) is not as bad as last." Example, the increase in the June U.S. unemployment rate while up, was - on a monthly basis - less than that in May. Reminds me a little of that classic line "Other than that Mrs. Lincoln, how did you enjoy the play."

The DABometer still leans in the positive direction but I notice that it seems to quiver on certain days, with the news of the closing of one laser and system supplier and the bankruptcy filing of another. Mind you, both of these will likely be resolved and the businesses will go on, probably in a different way, but the news raises some concerns. Thus the vibration in the meter reading on the days of these announcements.

The news media, always hungry for headlines, has latched onto the unemployment numbers, raising the question of where all the jobs are that the current administration promised would result from the stimulus package. I'm wondering if these media professionals have had an original thought lately as they all seem to be echoing the same ideas. Much as I loathe saying it, thank heaven for Michael Jackson; the media's obsession with his death has blown the economy off the front pages. Even the starchy Wall Street Journal gives this story page space.

What is needed now is positive news from the manufacturing sector that has some depth to it. Not just bailouts and beneficial bankruptcies, but a rash of news about hirings, contract awards, and sales increases. The ILS Slivers of Light campaign has hit a dry spell; we haven't received worthwhile news items for several weeks now. Chalk it up to the summer weather if you will, which typically spawns a drought in company news, good and bad, as vacations thin out the ranks of newsmakers.

On another note, the award for interesting timing goes to a leading laser manufacturer who announced the resignation of their vice-president of research and development after the stock market closed for the long holiday weekend. It was totally ignored on Monday morning, rightfully so because there were no details available. But where were all those Blackberry toting journalists and market analysts on Friday? Sitting on a beach somewhere, blogging and twittering about Michael, I guess.