COMMENTARY: Is the
Industry Glass Half Empty?
Before you read this issue, a warning: I tend to worry. My
wife will tell you I usually see the glass as half empty. I am
telling you this, now, because I'm worried about the industry and
have written two pieces on "issues" I see facing it.
That's a nice way of saying, "I see trouble ahead."
What troubles me is word of shakeups at some major industry
companies and the absence of good news about some major product
categories – usually signs of flat or declining sales. Then there
are the signs that history is repeating itself: scrapbooking may be
following the same path as decoupage, macrame, counted cross stitch,
and fabric painting.
But remember, during the 25+ years I've been in the industry,
I've written an "Uh-oh, the glass is half empty" column
about five times. Each time I turned out to be correct, more or
less. But each time the industry adapted, and after a period of
relative stagnation, began to grow again. There may be storms ahead,
but the sky is not falling.
NEW COLUMNS THIS ISSUE
Business-Wise. An industry veteran tries to shop in nearby
Michaels and Jo-Ann's stores. How was the experience? It's entitled
"A Customer's Nightmare."
Scene &
Heard. Trend expert Ellie Joos reports on the
highlights of Quilt Market.
Legal Q. & A. An industry veteran writes about the
growing problem of the scrapbook industry ignoring copyright laws.
Memory, Paper &
Stamps. Scrapbooking is in trouble; some
suggestions for improving the situation for vendors and retailers
from a savvy independent.
Tech Topics. The Internet has changed the way scrapbook
magazines and vendors find and use designers.
Note. If you surf to a column and it's an "old"
column, click the "Refresh" or "Reload" button
on your browser.
TAKE THE CLN POLL: 2005
TRADE SHOWS
There will be five memory-related trade shows next year – the CHA
Winter and Summer shows, MemoryTrends, the new Scrapbook
Biz show and the Photo Marketing Assn. Int. show (see below).
Which will you attend or exhibit at? Are they at the right time of
year? To vote, click HERE
or on Industry Polls in the right-hand column.
CLN
POLL: VENDOR/RETAILER
2005 MARKETING PLANS
The results of our poll are remarkable; vendors and retailers
have almost identical plans for their 2005 marketing and advertising
budgets. For vendors, 30% will spend the same amount as they did
this year, while an equal percentage will increase their budget as
decrease it. The same is true for retailers; 25% will maintain the
status quo while an equal number will increase their budgets as
decrease them.
ANOTHER SCRAPBOOK ASSOCIATION,
TRADE SHOW
The Professional Scrapbook Retailers Organization (PSRO)
has become a "section association" of the Photo
Marketing Assn. Int. (PMA). The PMA convention/trade show in
Orlando will offer education and business resources dedicated to
scrapbook retailers. The show is Feb. 20-23, five days after the CHA
Winter Show ends in Atlanta. PMA says the show usually attracts more
than 700 exhibitors and 25,000 - 30,000 attendees
PMA hired Jeanne Wines-Reed, publisher of Scrapbook Retailer and
author of Scrapbooking for Dummies, as director of the new
association. "We are teaming with PMA for many reasons,"
says Wines-Reed. "First, because of their proven expertise in
all facets of imaging; secondly, because PMA is an established
association with a sterling record in serving retailers for over 80
years; and, ultimately, because of the vast possibilities for
synergy that I see in our missions." For more show info, visit www.pmai.org.
DID WAL-MART VOTERS SWING THE
ELECTION?
Here's a sign of how strong a role cultural issues played in the
presidential election. Wal-Mart Sr. VP/Treasurer Jay
Fitzsimmons told a Lehman Brothers investment conference that the
discounter's core shoppers are affected by gas prices, job worries,
health care costs, and their stagnant incomes, the Arkansas
Democrat Gazette reported. The economy is improving, but
"they haven’t seen the improvement," Fitzsimmons said of
the poorest 33% of the shopping population. "If you break out
your statistics, you find they’re in the hole" financially.
Nationwide Wal-Mart polls of its customers have revealed economic
anxieties on the rise since April.
Those issues should have been Senator Kerry's. Yet a CNN poll
indicated Wal-Mart customers voted for President Bush by a wide
margin. Either they found Senator Kerry uninspiring or their votes
were determined by non-economic issues.
WICHELT ACQUIRES GAY BOWLES
SALES/MILL HILL
Wichelt Imports, a leading distributor of cross stitch and
needlework products for 35 years, acquired Gay Bowles Sales,
a Janesville, WI-based distributor and manufacturer of Mill Hill
Beads, Mill Hill Treasures, and Mill Hill Kits.
Wichelt has begun distributing all Mill Hill products and will
feature its entire line at the 2005 CHA, TNNA, and INRG
trade shows.
"By adding the Mill Hill Beads, Treasures, and
Kits to the base of products already found in the Wichelt
Imports Collection, we can now offer the needlework industry an
exciting full-line assortment of products," said Wichelt
President/CEO Joyce Wichelt. "We will continue to design and
manufacture the upscale whimsical designs that Mill Hill customers
expect, while adding new options for the stitcher."
Gay Bowles Sales was established in 1981 and introduced Mill
Hill products in 1986. Wichelt Imports is a family-owned
business located in Stoddard, WI. Founded in 1970, the company
distributes cross-stitch products around the world, including many
top European and American needlework companies. For more info, visit
www.wichelt.com.
WAL-MART ANNOUNCES NEW PHOTO
SERVICE
Wal-Mart's new one-hour digital photo service integrates
Wal-Mart and Sam's Club's online and in-store photo capabilities.
The service allows customers to upload digital photos at www.walmart.com
or www.samsclub.com,
edit, share, and order images online, then pick up the prints within
an hour at a local Wal-Mart or Sam's Club that has a one-hour photo
center. "We believe it will revolutionize the way our customers
process digital photo prints," VP Dave Rogers told Retail
Merchandiser. The price for a 4"x6" print remains the
same – 24 cents at Wal-Mart stores and 18 cents at Sam's Clubs.
Wal-Mart and Sam's Club are also offering customers free
software, "My Wal-Mart Digital Photo Center at Home,"
which equips home computers with similar functions as the Photo
Kiosks inside Wal-Mart and Sam's Club locations today.
OCTOBER SALES SHOW IMPROVEMENT
Michaels. Same-store sales grew 5% and overall sales rose 9%
to $280.4 million. Traffic was up 3% but the average ticket
decreased 1%. Higher custom frame deliveries increased same-store
sales by 3%, primarily due to changes in the timing of custom frame
promos. The best performing departments were Needlework/Yarn,
General Crafts, Wedding/Ribbon, and Impulse, and the best performing
zones were the Pacific, Southeast, and Central.
A pleased CEO Michael Rouleau cited better customer traffic and
sales of regular-priced merchandise despite a slightly less
aggressive promotional program, and lower inventory levels of
clearance merchandise.
Jo-Ann's. Same-store sales slipped 0.3% while overall sales
rose 0.6% to $160.5 million.
Wal-Mart. Same-store sales rose 2.4%. Officials said results
were hurt by less than 1% because Halloween fell outside the sales
period, which ended Oct. 29. Overall sales rose almost $2 billion to
$21.04 billion.
Hancock. Had its first positive month in recent months.
Same-store sales rose 2.3% and overall sales rose 1.3% to $38.9
million.
Others. Nordstrom, +11.5% ... Target, +6.0% ... CVS, +5.2%
... Federated, +4.0% ... Dollar General, +3.0% ... J.C. Penney, +
2.1% ... Duckwall-ALCO, +1.3% ... ... Family Dollar, +0.9% ...
Dollar Tree, +0.7% ... Big Lots, flat ... Pier 1, -5.9% ... Bombay,
-13.0%.
ISSUES FACING THE INDUSTRY
1. Health of the independent scrapbook retailer (see
below).
2. The shaky general economy. While the overall economy is
growing, the high price of oil, which shows no signs of returning to
pre-war levels, is taking more disposable income. This may affect
the Northeast in particular this winter because of the region's
dependence on heating oil. Consumer confidence has been slipping and
our customers face Christmas without the tax refunds they had in
hand a year ago. New jobs are being created, but they pay less than
lost manufacturing jobs. The federal deficit is ballooning, which
should hamper the government's efforts to bolster the economy.
3. The Orient. A recent report in the Wall Street Journal detailed
areas in China where there is a shortage of employees for the
booming economy. That is forcing Chinese manufacturers to increase
wages and/or improve working conditions. Add to that the higher
price of oil and some raw materials and sure enough, now we're
hearing about some price increases on import items. For example, the
Labor Department reported that the price of imports rose 1.5% in
October; that's double the increase analysts had forecast, Reuters
reported.
Meanwhile, some west coast ports and the rail lines and trucks
that support them are already jammed beyond capacity. More imports
will mean delivery dates will be more unreliable. The problem should
ease after Christmas goods have been delivered, but the growing
demand for low-priced imports means an ongoing infrastructure
problem.
4. Wal-Mart. If the discounter uses crafts as loss
leaders. It can make up the difference when consumers, drawn to
Wal-Mart by the toy prices, also buy other, higher-margin items.
That strategy pushed KB Toys and FAO Schwarz into bankruptcy and
Toys R Us to consider getting out of the toy business.
Wal-Mart is not planning that strategy with crafts/sewing soon; a
recent Forbes.com article, Wal-Mart's Next Victims, claims
the next five categories the discounter is targeting are consumer
electronics, banking, pharmacy, gasoline, and fashion. But Wal-Mart
execs have said the company's goal is a 30% market share in every
category, so eventually ....
5. Some of our stores are turning into memory/bead/yarn
shops; that makes sense today but may be harmful in the long run.
Most categories rise and fall and rise again, but if a retailer
eliminates a category completely, how does that category ever stage
a comeback?
6. Many traditional vendors seem to be focusing their
creative energies into scrapbooking, which already has too many
vendors. Meanwhile their original categories are languishing.
(Note: Agree with the above? Disagree? Send your thoughts
(on or off the record) to mike@clnonline.com
and we'll share them in our next issue.)
ISSUES FACING PRODUCT
CATEGORIES
1. Yarn. Entice consumers to crochet and move knitters beyond
scarves to more challenging projects (that use more yarn). Vendors
need to walk a fine line: expand to meet the demand, but not become
over-extended if demand cools.
2. Scrapbooking. Too many products, vendors, retailers,
trade magazines, consumer shows, and trade shows. Unless we have a
massive effort to attract new scrappers, we're may divide the pie
into pieces too small for businesses of all types to make a profit.
3. Painting. When 85% of the newly certified decorative
painters are from overseas, what does that say about the category's
ability to attract new U.S. painters? The soon-to-be-named new exec
director of the Society of Decorative Painters needs to turn
the organization outward, toward new consumers.
4. Needlework. Not that long ago millions of consumers
were avid cross-stitchers. That was about the time the yarn
companies formed the Craft Yarn Council of America and
transformed knitting from its dormant state into the industry's
hottest category ... Let's hope TNNA and INRG will
continue their efforts to create a strong combined show next June.
WHY INDEPENDENTS' SUCCESS IS
CRITICAL TO ALL
1. If many of the scrapbook independents fall by the wayside,
they will take numerous small vendors with them.
2. The decline in the number of shops and vendors would
drastically reduce the size of the industry's trade shows (trade
magazines, too). Since trade associations use the profits from the
show to fund a variety of programs and services, the smaller the
shows, the fewer the services for all.
3. Remaining retailers would absorb most, but not all of the
sales of the independents. Some business would be lost forever.
Chains can't provide the wealth of products that the hardcore
scrappers want.
4. Scrapping is the "quilting bee of the 21st
century"; many scrapbookers look to their local independent for
a place to scrap with others. If the social element is gone,
scrapbook enthusiasts might not remain so enthusiastic.
5. Another hot trend would come along, but not immediately.
In the interim, industry sales would plateau, if not slip, and that
would discourage potential investors and make banks hesitant to make
loans to industry businesses.
Conclusion: We all have a stake in the success of the scrapbook
independents. Trade groups should concentrate on offering business
education workshops. Manufacturers should do what they can to help
independents remain profitable. Vendors should look for ways to make
their businesses more efficient in other ways so they can afford to
help independents by lowering minimums, packaging in smaller
amounts, etc.
TNNA ELECTS NEW LEADERS
New officers for The National NeedleArts Assn. are
President Stacy Charles (Tahki Stacy Charles) and VP Marilyn
Murphy (Interweave Press). Jim Bryson (Bryson Distributing)
continues as Secretary/Treasurer.
Other Board members: Judi Alweil (Judi & Co.); Kenneth
Bridgewater (Westminster Fibers/Coats & Clark); Amy
Bunger (Keeping Me in Stitches); John Caldera (Just Nan);
Nan Hempel (Nan Hempel Designs); Past President Carol Gantz (Associated
Talents); and DeElda Wittmack (DeElda).
Regional Associate Directors: Kathy Morrow (The Yarn Studio),
Southwest; Linda Carter (Yarn Garden), West Coast; Ellen
Nation (The Needlepoint Garden), Southeast; Cindy Mathews (Wellesley
Needlepoint Collection), Northeast; and Karen Rumpza (Needlework
Unlimited), Midwest.
Committee chairs: Terry Christopher (2 The Point/Ty-Di Threads),
Needlepoint Group; Doreen Connors (Vogue Knitting/SOHO Publishing),
Yarn Group; and Tink Boord-Dill (Peg & Tink Ink), Interim
Chair, Counted Thread/Embroidery Group.
For information on TNNA, call 740-455-6773, email tnna.info@offinger.com,
or visit www.tnna.org.
FORTUNE
SMILES ON MICHAELS
The 11/3 edition of Fortune quotes various stock market
analysts who expect Michaels to post very strong earnings in
the future, thanks in part to the new "inventory-management
system that has streamlined purchasing and cut by 80% the labor
needed to replenish shelves."
As is often the case with the national media, the article was
slightly condescending in tone (calling Michaels' eight Recollections
stores "joints") and in some ways inaccurate. ("Look
for Michaels to add nearly a thousand stores between now and
2009.") Michaels may add hundreds of stores of some type, but
it's doubtful it will open 1,000 Michaels stores.
EMAILS, WE GET EMAILS ....
(Note: Our previous issue reported on Wal-Mart's
expanded scrapbook section and photo kiosks. We also included reader
emails complaining about another scrapbook trade show and the
extensive giveaways endemic in scrapbooking. We were besieged with
responses; excerpts of some of them are below. All published
responses are edited for length and clarity.)
1. Wal-Mart's craft strategies: "I was just in Wal-Mart
and saw three things mentioned in your recent newsletter. Wal-Mart
has already expanded its scrapping section; what used to be about
half of one aisle is now 1.5 aisles. I saw a lady diligently
selecting and cropping photos at the Kodak kiosk. I took a
peek in her basket and she had already been to that expanded
scrapbooking section; she had paper and stickers. [What you wrote]
isn’t going to happen – it’s happening NOW!" Annette
Pfau, Stamp on This, http://stamponthis.com
2. The Scrapbook Biz trade show: "I am a small
vendor. Three shows is just too much. The same group of buyers are
just spread out between the CHA summer and MemoryTrends.
We don't need another show to cut that pie up anymore. We simply
can't afford the time or money it takes to reach a smaller and
smaller audience. If the big boys are complaining about another
show, then you know the small companies and the retailers don't want
it, either.
"We have already decided not to attend CHA summer and
just go to CHA winter and MemoryTrends. Now I wish that
MemoryTrends would move to late summer so we can have a true six
months between shows. That would be ideal. Most other small new
vendors I know are also choosing just two shows. We're looking for a
shakeout to see which shows (CHA summer or MT) are
better." – Name Withheld
3. Scrapbook giveaways: "The scrapbooking industry has
really shot itself in the foot with these ridiculous practices. All
this giveaway stuff does is undervalue everything that is for sale,
hurting vendors and retailers alike. This gluttony for free product
overshadows the real value of classes. The sad thing is that most of
the time these products just end up in a box or are given away
because these same people are very picky and want the latest and
greatest, and a lot of the companies donate older, overstocked, or
discontinued products.
"Funny, consumers who take these classes from a manufacturer
think that since they are paying $15-20 for the class, they better
be getting at least that much in supplies back. Like the vendor sees
any of that money!. HA!
"Small vendors can't compete with companies who give
everything away in their classes. We struggle to provide the
supplies for the project and pay sponsoring fees just to be able to
provide a class. Often times you also have travel expenses for a
teacher.
"Also, we just can't also include tons of freebies. We do
give out door prizes, but that doesn't seem like enough for these
people. As a result, we don't teach or sponsor classes very often.
The lack of appreciation for what is being taught is the big
decision factor here. Getting your class trashed because you didn't
give out tons of free product isn't fun." – Name Withheld
4. Scrapbook giveaways. "Walnut Hollow believes strongly
in education and promoting products, as well as giving product away,
through classes. At different events, I have even had class
attendees switch to our classes because they saw what we were giving
away to participants. They clap when you give them something – and
clap even louder when you give them more!
"Class and event organizers are just as bad. Some organizers
strongly suggest the more prizes or giveaways the better. Money
isn't enough – organizers want money and product to give away
(over and above classroom product). It's amazing that they just
expect it.
"We work together with many other manufacturers to bring
education to the industry. It is costly for all of us. 'Crafters'
always seem to appreciate what they receive in class. 'Scrappers'
always expect to receive. Interesting ...." Chris Wallace,
Marketing Communications Director, Walnut Hollow Farm
5. MemoryTrends: "The vendor who emailed that MemoryTrends
is exclusively for scrapbooking – this isn't the case. MemoryTrends
is scrapbooking, rubber stamping, and the paper arts. I've taught
classes at MemoryTrends for five years and I do appreciate
scrapbookers. (I am a scrapbooker.) But I get frustrated that our
industry seems to overlook crafters who enjoy rubber stamping,
collage, altered art, paper folding, paper making, paper casting,
cardmaking, and paper home dec designs and projects. It's the PAPER
as well as the memories." – Maria Nerius, Nerius
House & Co.
RANDOM NOTES, RANDOM THOUGHTS
Some toy vendors have made what must have been a very tough
decision. They are giving Toys R Us' exclusive deals and advertising
support this season because, as one toy exec told The Wall Street
Journal, "Toys R Us is the industry's lifeblood. As Toys R Us
goes, so do we."
I wonder if those toy vendors will get other new products in
Wal-Mart?
MISCELLANEOUS NEWS
FALSE RUMORS. It is NOT true that 7 Gypsies was being
absorbed by Autumn Leaves. 7 Gypsies remains a fully
independent company; it is simply no longer using Autumn Leaves for
distribution ... Martin/F. Weber is NOT sold; in fact, it's
not even up for sale. Apparently the false rumor started when the
company changed some sales reps ... The Treasure Island chain has
NOT changed owners ... Wal-Mart is NOT dropping painting.
TV. Tomorrow the PBS series Frontline will broadcast,
"Is Wal-Mart Good for America?" "... the one-hour Frontline
focuses specifically on the process by which Wal-Mart strong-arms
manufacturers into moving production to China so that the retail
giant can keep its prices low, often at the expense of American
jobs," wrote the New York Post ... CNBC will
re-broadcast its special, " The Age of Wal-Mart: Inside
America's Most Powerful Company" tonight at 10pm (EST) and
Thursday at 9am and noon.
RAG SHOPS. Jeff Gerstel has resigned as President of Rag
Shops. Tom Souza is CEO and Susan Boykas is CFO. Souza had been
President/CEO of Mirage Stores and before that, President/COO of
Claire’s Accessories. They plan to open new stores, create a new
corporate identity design, improve store layouts and customer
service, update the merchandise mix, renew its focus on everyday
value, and enhance its marketing, customer outreach, and in-store
promos.
RETAIL. Add Kohl's to the list of non-industry
retailers now carrying some scrapbook supplies. Visit http://twopeasinabucket.com/mb.asp?cmd=display&thread_id=882712.
ACQUISITIONS. Autumn Leaves bought Foofala ... Pumpkin
Masters has become a division of Rauch Industries, a
manufacturer/distributor of glass Christmas ornaments.
PAINTING. The Society of Decorative Painters is
interviewing three finalists for the job of executive director ...
Registration is now available for the SDP International
Conference May 23-28 in Tampa. There will be 150+ classes with
new classes for business owners including such topics as licensing
your artwork, marketing strategies, and negotiating publishing and
tv contracts. For info, visit www.decorativepainters.org
or call 316-269-9300 ext. 101.
MERGER. The Int. Model Hobby Manufacturers Assn., the Model
Railroad Industry Assn., and the Radio Control Hobby Trade Assn. are
talking about merging, Playthings reported. Helping lead the
effort is Pat Koziol, former exec director of HIA (now CHA)
and the current exec director of RCHTA. Model, railroad, and
radio-control businesses founded HIA more than 60 years ago and
broke off when craft-related companies became the large majority.
STOCK. Michaels repurchased an additional 1,043,500 shares of
the company's common stock in October at an average price of $27.55
per share.
NEEDLEWORK. The National NeedleArts Assn.'s trade show in
Long Beach (Jan. 22-24) is breaking records again: The number of
exhibitors is up 6% to 284 and booths are up 11% to 697 booths. TNNA
expects larger attendance, too; the 2004 winter show attracted 838
stores, 42% more than the 2003 event. The show also offers 90+
technique classes and business seminars. For info, call
740-455-6773, email tnna.info@offinger.com,
or visit www.tnna.org.
BUSINESS PROFILE: DESTINATION
SCRAPBOOK DESIGNS
Co-owners Doris Lemert and Melinda Haines met in 1999 when their
then three-year-old daughters were in the same Kindermusik class.
The two women discovered they had much in common, including
professional marketing careers prior to becoming stay-at-home moms,
and a shared passion for paper crafting. The pair jokingly talked
about starting a business, if they could come up with a good idea.
And they did: large-scale clear destination-specific stickers, an
innovation to the industry. After launching their line at a consumer
show in October 2000, they had enough positive feedback to go
national. With one roll of Florida stickers and designs for all 50
states, State of Mine Stickers were introduced at the ACCI [now the
CHA Summer] show in 2001. With excellent response to their product
designs, the team went to the bank and was in business.
In April 2002, the company moved out of Doris’ basement and
Melinda’s home office into their first office/warehouse space.
After two weeks getting organized, disaster struck. A pickup truck
going 60 miles per hour crashed into the company’s warehouse.
During the course of the next two months, Destination Scrapbook
Designs had to move three times, but managed to keep the business
going and growing. In fact, company sales have grown 35% - 50%
annually.
The company continues to be an industry innovator with its
product lines and fixtures, coming out ahead of the pack with
travel, military, and sports/extra-curricular activity stickers. The
lines include:
State of Mine Stickers – 99 destination-specific clear
sticker sheets for the U.S., Canada, U.S. military, and
international travel destinations.
Jock Talk and Geek Speak Stickers – 30 clear sticker
sheet designs featuring the terminology of sports and
extra-curricular school activities.
Flip Flop Fasteners - virtually invisible self-adhesive poly
fasteners for paper crafting. This new product, introduced at 2004 Memory
Trends, allows hinged or flipped components to be added to cards
or scrapbook pages without adding weight or bulk. They allow
multiple photos to be added to a page with ease.
Custom-designed swinging fixtures that work in grid, slat, or
pegboard, in 12- and 30- prong designs. The racks accommodate a
large amount of product in a small amount of space.
Destination Scrapbook Designs advertises regularly in national
scrapbook publications with humorous ads featuring their "Geeky
Guy." Orders generally are shipped the same day they are
received, and include project sheets for the company’s product
lines. All of the company’s products are proudly manufactured in
the U.S.
Key Execs: Co-Owners Melinda Haines and Doris Lemert ...
National Sales Director MaryJean Lepsch.
Rolodex: Destination Scrapbook Designs, PO Box 15027, Fort
Wayne, IN 46885. Call (toll-free) 866-806-7826; fax 260-482-1638;
email: doris.lemert@destinationstickers.com;
or visit www.destinationstickers.com.
Note: CLN will profile one company per issue, which will
remain online for at least a year. A Profile is a perfect way for a
new company to let itself be known to the industry, or for an
established company to enhance its reputation by showing the
industry its history, diversity of products, personnel, etc. For
more information on how your company can be profiled, call Mike
Hartnett at 309-925-5593 or email mike@clnonline.com.
THE CREATIVE NETWORK: JOB OPENINGS
To see the latest openings, click on Jobs in the left-hand column
or click HERE.
THE CLN RETAIL INDEX
A. C. Moore (ACMR). Last*: 28.86 ... Change**: +3.14
Hancock Fabrics (HKF). Last*: 10.89 ... Change**: +0.62
Jo-Ann Stores (JAS). Last*: 25.50 ... Change**: +0.84
Michaels (MIK). Last*: 30.59 ... Change**: +1.49
Wal-Mart (WMT). Last*: 56.85 ... Change**: +2.93
CLN Retail Index. Last*: 162.46 ... Change**: +.6.3%
Dow Jones Index. Last*: 10,539.01 ... Change**: +5.1%
*Nov. 12 ** from Oct. 30 Prices are exclusive of dividends
NOW THAT THE ELECTION IS OVER...
Note: The following is an excerpt of an article by David
Batstone that appeared in Sojourners:
"Truth is, the pressing challenges facing the U.S. and the
globe sorely call out for cooperation. Speaking with my business hat
on, I am terribly concerned about the precarious heights to which
the federal deficit has grown. Its resolution goes beyond left-right
rhetoric, as does a needed re-structuring of Social Security.
Facilitating an end to the Israeli-Palestinian conflict, enabling a
transition to sovereignty in Iraq, stemming the proliferation of
nuclear weapons, and reversing the greenhouse effect all cry out for
reasoned, bipartisan initiatives as well. And it is likely that the
next president will select up to three, or maybe even four, new
Supreme Court justices. If the Supreme Court is to maintain the
respect of the entire nation, the judges must be chosen on the basis
of their proven discernment and experience, not their judicial
rating from the Christian Coalition or the ACLU."
REMINDERS
1. For more information on how your business can be the subject
of a "Business Profile" call Mike Hartnett at 309-925-5593 or email mike@clnonline.com.
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5. Creative Leisure News is published the first and third Mondays of each
month. Because November has five Mondays, your next issue will be Monday,
December 6. HAPPY THANKSGIVING!