Perkins’ Picks

JAMES C. PERKINS JR. at the Louis Vuitton store on 5th Ave. Photography: Brian Bradley

“The world’s biggest luxury-goods group is benefiting from a flight to quality, but the recession is also prompting questions about the company’s breadth and balance.”
At Economist.com
Amid this turmoil, LVMH is performing relatively well (see chart 1). It has benefited from an [...]

Peter Schiff, president of Euro Pacific Capital and author of Crash Proof 2.0 agrees with my sentiments on the markets. I like his money style. Suits we’ll have to talk about.
“If the Fed really thought the economy was sound, why does he have it on life support? If he pulls the plug, our sick economy [...]

 
This should come as no surprise considering the incredibly disappointing sales record that most Department Stores had to endure during the last sales quarter, but Department stores such as Barney’s will be stocking less product in what it hopes to lessen the probability of being stuck with too much product and not enough buyers.  This news comes on [...]

The market is up. Home foreclosures are down. Unemployment rolls have shrunk, and some people think the downturn is winding up. So how come you’re not seeing it?
You picked the wrong city.
 If you live in Austin, Dallas or—amazingly—Pittsburgh, you have a better chance of being on the upswing. Out of the biggest 100 metropolitan areas, [...]

Its seems that turmoil has hit most of the major fashion houses recently. A recession isn’t pretty. The Financial Times is reporting that Prada has asked banks to ease terms on debt. The Italian fashion house is hoping to renegotiate some of its debt in order to have ready cash to create more stores. The [...]

NEW YORK (CNNMoney.com) — Job losses slowed dramatically in May, according to the latest government reading on the battered labor market, even as the unemployment rate rose to a 26-year high.
Employers cut 345,000 jobs from their payrolls in the month, down from the revised decline of 504,000 jobs in April.
This was the fewest jobs lost [...]

Topshop, Chanel, Louis Vuitton, and Forever 21 were ranked most likely to flourish in the recession in a new survey. [WWD]
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Now we all know that everyone here at Thrasher keeps a close eye on fashion, but this story just blew me away.  Thrasher appreciates art, fashion and all forms or artistic culture!  However, being in financial services we have to draw the line somewhere and we think Christian Lacroix saw that line, crossed it and then [...]

 
Oh no! Not only has the slumped economy resulted in devastating job loss and budget shortfalls, it’s also hampering rappers’ wealth-flaunting abilities! The Wall Street Journal reports today on the sad plight of bling merchants, whose clients in the rap game can no longer afford ostentatious medallions and have apparently been purchasing smaller pieces of [...]

At Thrasher we like providing you with interesting, yet informational articles so I thought I would post this for you guys as another example of how  the recession isn’t just affecting the stock market but has an enormous trickle down effect that most people forget about.

The way people talk about unemployment, it’s as though it [...]