Friday

Retail sales have suddenly popped out of the shoot, gaining more than economists expected in July. Suddenly, Mr. & Mrs. Consumer are loosening their pocketbooks. My trip to the mall last weekend was verification of the numbers. It looked like they were giving things away! I was glad to escape the crowds. There was nothing I needed THAT much! But this is good news for business and should be seen in the final quarter's numbers on Wall Street. A former retailer was sentenced to house arrest today. The former Wal Mart VP was convicted of stealing from the company. His salary was over $1 million a year, but, apparently, that wasn't enough. He seemed to think it was OK to glide through the store, picking up whatever odds and ends he needed (like a cooler). This guy should be put UNDER the house. Markets slipped today, as we all digest the details on the terror plot. Maybe, we could put them in the cell with the Wal Mart guy! Dow -36.34 NASDAQ -14.03 S&P 500 -5.08