Perkins’ Picks

A film by TOM FORD. The photography and film trend continue.

HERBERT VON KARAJAN (1908 – 1989) was an Austrian orchestra and opera conductor, one of the most renowned 20th-century conductors. His obituary in The New York Times described him as “probably the world’s best-known conductor and one of the most powerful figures in classical music.” Karajan conducted the Berlin Philharmonic for thirty-five years. He is the top-selling classical music recording artist of all time, with record sales estimated at 200 million… an orchestra rock star. Recorded in 1966, rare footage.

The Canon G9 is a favorite of Purple Fashion Editor and Co-Founder, OLIVIER ZAHM. Photo: men.style.com 10 Essentials: Olivier Zahm.

CANON’S stock (ticker:CAJ) and the markets continue to charge higher. CAJ is now trading over $40 up from around $30 three months ago. Probably solely because everyone wants to be a photographer and start a fashion blog. The DOW is currently up over 100 points and the index has crossed 9,700. What tha? I understand the fundamentals for CANON, but what about the fundamentals for the market? Warren Buffett told CNBC that while the economy “hasn’t gotten worse” it also hasn’t “gotten much better” over the past three months. Yeah that is the same economy that i am watching. I am sooooo iffy on this market. Makes me think of illy. Going to get an espresso and sit down with Purple Fashion.

THE ECONOMIC RECOVERY IS FAUX

JAMES C. PERKINS JR. at Chinatown Brasserie in NYC. Photography: Brian Bradley

Many more have started to agree with me on this issue, including this weeks BARRONS. I can’t help but think, what is the market trading higher on? Wall Street seems to be recovering just fine, with the help of the biggest bank in the world, the U.S. government. But that bank doesn’t seem to run too differently than theirs… carrying a ton of debt. With this “fauxcovery”, as a dear friend of mine dubbed it this week, a faux economic recovery, we still have massive job loss, massive debt, no real demand for products (cash for clunkers was faux too), no prospects for job growth, and credit is still tight. And I am sure I have missed a few things. One large utility company I recently heard about is not issuing pay increases for 3 years (that’s communicates thay they predict a tough time for 3 years), many companies have on chasity belt type freezes on hiring, and many friends old and young alike, creative and corporate alike are losing their jobs.

What frieghtens me is not that we are experiencing another downturn, all professional investors learn how to deal with that the same way Tiger Woods deals with missing a put, we make the next one, but this time I worry if we have ‘lost our swing’. That’s golf talk for can’t figure it out. That’s jazz for the music doesn’t sound good anymore. Can our economy figure it out? Can our economy find that swing? The 50’s are back now (I am actually sporting a Nat King Cole side part). But, an economy whose growth was driven 70% by us having to buy shit is now living tax-credit to tax-credit (we no longer make paychecks).  I recently read in the WSJ last week that there will be significantly less income for the wealthy too. According to the WSJ, half of U.S. consumer spending came from the top 20% of earners in 2000, according  to economists DEAN MAKI and MICHAEL PALUMBO. And sales of all luxury goods are expected to fall by 15% this year according to BAIN & CO.

Sales of Bentleys, Maseratis, Maybachs and Lambos have fallen over 50% this year, much worse than the braoder auto market decline of 26%, according to Autodata Corp.

And now the very scaling back of the financial industry looks to make another ugly contribution, estimates show that 21% of the increase in overall income equality 1980 to 2005 was a result of high pay in finance jobs. But will a lowering tide, lower all boats.

The one hope that I had had for true economic growth and demand, via the Obama administration special adviser for green jobs and Yale Alumni Magazine’s (Go Blue) Yalie of the Week’ VAN JONES, turned out to have too many red flags for the White House. But the piece from his past  that drove the author of The Green-Collar Economy from office was his signature on a “911 Truther Petition” in 2004 — especially the petition’s claim that “people within the current administration may indeed have deliberately allowed 9/11 to happen.”

Everything in time and moderation, didnt we learn anything from the strategies of the civil rights movement which are just as fascinating as the ‘rights’ themselves, because the strategy is what help the right become realized.

So if it’s not green jobs, it finance is shrinking, if cars are free, if retail is tail what will it be. Even I dont have an answer for this one at the moment. Well I do. Psssst. I agree with the analysis that the European 40 hour work week and 3 months of vacation while your economy grows at 0.000001 percent each year is beginning to look even more attractive than it did before. More time for outdoor cafes and cappuccino thoughts with me. JP

JAMES C. PERKINS JR. and JOHN ‘GADO’ at Chinatown Brasserie in NYC. Photography: Brian Bradley

DANA BAINES at Thrasher offices in New York. photography: James C. Perkins Jr. & Brian Bradley

Everybody is buying CAMERAS. I mean everybody. And they are taking pictures. It has never been cooler to walk around with this hot accessory and be seen using it. I remember when taking pictures with your friends was so uncool. Now if you aren’t taking pictures, then you aren’t doing anything cool enough to take a picture of. Should i look at stocks with exposure to the photography boom? Hell yes! Canon Inc., ticker CAJ in the last 3 months $33.21 to $39.53, up 19%. I have held this stock forever and it has never moved this much. To bring this trend to a head i ran across or i should say past the most popular photogrpher after TERRY RICHARDSON, SCOTT SCHULMAN, “The Sartorialist” on my morning jog from SoHo to Tribeca. Fashion house houses are even taking hints from teen photo blogs in Texas according to the Wall Street Journal.

My weapon of choice, a 1972 Olympus OM-1 SLR.

I am never too good to participate in a good trend. I do like to think that i am slightly ahead and immediately check for a ticker symbol.

I am also happy to introduce our first series of art photography, MONEY SHOTS, featuring sexy young people and the juxtaposition of youth & $.

photography: Brian Bradley

DANA BAINES at Thrasher offices in New York Photography: James C. Perkins Jr. & Brian Bradley

DANA BAINES at Thrasher offices in New York Photography: James C. Perkins Jr. & Brian Bradley

DANA BAINES at Thrasher offices in New York Photography: James C. Perkins Jr. & Brian Bradley

DANA BAINES at Thrasher offices in New York Photography: James C. Perkins Jr. & Brian Bradley