Search for good news ends well
Americans are taking out more payday loans. Banks and auto companies are petitioning the government for emergency cash. Hospitals, airlines, retails stores and just about every other industry are taking nosedives.
But today, after writing a couple of posts about how awful the economy is, I thought “There have to be some industries out there that are doing well.” And what do you know, I was right. So I decided to switch gears and share some good news instead of repeating what everyone already knows. (Yes! It IS recession!)
Gamers just wanna have fun
The video game industry is still thriving. Fortune seems to think that the rise in unemployment has contributed to keeping the business successful.
And you know what? I think they are right. I was unemployed for a few weeks, and when I wasn’t looking for a job, you could find me somewhere near the GameCube or the Xbox. Some gamers are so obsessed with getting the newest games first, they take out payday loans to buy them on the day they’re released.
Sitting pretty
Some cosmetics manufacturers are seeing gains right now. While department stores are seeing low sales in clothing, jewelry and electronics, the beauty counters are still seeing a steady stream of customers.
In the clear
Not surprisingly, the waste management business hasn’t seen any decline. Some things are simply necessary. Plummeting gas prices and consolidating companies have also helped the industry. Thank goodness this industry won’t need to ask for emergency cash. It’s one I never want to have to do without.
Like home-cookin’ but easier
Another group of products that has generated increased revenue is comfort food. Kraft, well-known for its macaroni and cheese, raised revenue by 7 percent. Hormel’s grocery store sales increased thanks to a resurgence in Spam.
This increase in Spam sales makes me wonder if Fortune should be categorizing this one “cheap food” instead of “comfort food.” However, because the article led with mac & cheese, my personal comfort food of choice, I will let it slide.
Survivors
Another not-so-surprising statistic: Discount retailers are pulling in more money. Dollar stores and, of course, retail giant Wal-Mart have increased sales. In these hard times it’s no shock that people are trying to save however they can. This makes me ponder the question: Is middle-income the new low-income? If “average people” are turning to discount retailers for goods, that likely means they can’t afford to pay regular price. In my opinion, if people have to seek out low prices instead of regular prices, that means they have a low income. Just a thought.
Smart investment
For-profit education hasn’t taken a hit. Strayer Education, Devry and the Apollo Group all saw higher enrollment and jumps in revenue last quarter. It’s not too difficult to figure out why this is happening. As unemployment rises, people who have been laid off decide maybe it’s time to get that degree or technical certificate they’ve been thinking about. Or else they work for industries that are doing badly, and they figure it’s time for a change in career.
Burger me
Bachelors, college students and non-cooks everywhere still need to eat. But now, instead of grabbing lunch at the diner and spending $10 or $15, they are headed to a place that has something magical: A Dollar Menu.
Fast food places including McDonald’s, Burger King and Taco Bell are all experiencing sales increases. What do these places have in common? You got it, the Dollar Menu.
That’s it for the good news
Well that wraps up Fortune’s roundup of industries that won’t be asking for emergency cash any time soon. Happy 2009, and make sure you use payday loans wisely.
You gotta love and respect that Dollar Menu. My husband and I are big fans of the fast food dollar menu right before payday.
It is great to hear that some industries are doing well I mean these industries are not the ones that will make or break an economy like a bank going under but they still show when in doubt someone is benefiting from everything. It also shows that people are still spending the little money they have on things that are neccesities so who knows what will happen if people get more money back from tax breaks!! O what will happen in 2009 will make or break the economy, do good president-elect Obama.
Although a loan does not start out as income to the borrower, it becomes income to the borrower if the borrower is discharged of indebtedness.
Make sure to know the state of your finances before contacting your lender. Determine how much income you’re bringing in each month, how much you’re paying in bills and where you can cut costs. Just a tip!
I am agreeing with Joe, it is important to check interest rates and your monthly income because interest rates are quite high and vary from lender to lender.
You gotta love and respect that Dollar Menu. My husband and I are big fans of the fast food dollar menu right before payday. I am agreeing with Joe, it is important to check interest rates and your monthly income because interest rates are quite high and vary from lender to lender.
the concept of dollar menu is sure a good resolute for non cookers. and so is payday loan for people with bad credit. cheers
Very true. With increase in unemployment, people instead of going to depression mode, trying to find new path and getting engaged in these entertainment activities
Very Very True. Thanks for posting
Video games are worth the money because they can last for a long time. You can also get a whole group of people playing at once.
tough times out there for everyone!