All through the morning I have been looking at slow moving inventory, and considering the slow receivables, and began considering markdowns and elimination of entire product lines. As I considered the cost of keeping some items on the shelf I drastically marked down a couple items, and then realized what is happening.
We are a part of it. It is happening to me, us, to our business.
We should still be OK, but the fact we are going to move inventory out at below cost on a large scale for the first time ever is a little troubling. Prices on hard goods are about to drop, DRAMATICALLY in the next year or more. Import orders which were made prior to the current financial event cycle are just now starting to hit our shores. These products made in foreign lands will likely not have a large demand as in prior years, and will sit until someone like myself makes the determination that its “dollar store” time.
Michigan’s economy has been undergoing this crisis since the first anniversary of the first Granholm Budget, but locally we haven’t had the real effect hit home as our nexus is hardly Michigan alone. This time it matters even more directly, at least to those of us who have national accounts and business.
This is a testament to the actualities brought about by poor economic policy and social gerrymandering. Having never felt so directly the impulse of the wrong direction our government has traveled, I have not had as great a reason to resist, (though some would say I have done so quite sufficiently) and am now even more determined to fight the plight.
My Quote of the day… “Lemmings are for Stir-Fry, not fit for American Emulative Participation” Parse THAT one for a day or two…