Daily Intent

Though cash has become strapped and credit has tightened, Americans are still treating themselves to small ticket items of entertainment.

“U.S. retail sales of video games, consoles and game accessories hit $1.12 billion in May, a 37 percent rise over the same month last year…” myway.com

“During the first five months of 2008, the video game industry has generated $6.6 billion in sales, exceeding the total annual revenue earned in 1997.” www.ecommercetimes.com

And the number one game console sold during May?  None other than the Wii at 675,000 units!  This is three times more consoles sold than their closest competitor, Sony Playstation 3.  And to no surprise.

This is a gaming system that has changed the way we play video games, better said, interact with the television.

Children are buying the console for their father’s for Father’s Day.

Why go golfing in the rain in Seattle when you can play Tiger Woods Golf in your family room?  Who needs a Yoga studio or gym membership when you can take on the challenge of Wii fit?  Hula Hooping?  Tight Roping?  It’s all there.  My favorite continues to be tennis.

I understand I’m being a bit dramatic, but as a long time game hater, skeptic, and outdoors man, I’ve been convinced.  It has a place in our entertainment lives.

For those that have yet to play, call up a friend that has it or visit www.wii.com
 
Word of the week: Camouflage Compensation

“Compensation that is granted to upper echelon employees, directors, consultants and related parties that is not fully disclosed in mandatory company filings. In other cases, compensation is fully disclosed, but in such a way that it is very difficult for the average investor to decipher the true value of gross pay compensation.

Non-qualified deferred compensation plans, SERPs, stock options, stock appreciation rights and share grants are all potential places where compensation can be hidden from analysts and shareholders. The SEC has proposed new regulations to more completely disclose the full cost of compensation to related parties, consultants, directors and employees.  “  -Investopedia

Five points to ponder:

   1.  Producer Price Index rose 1.4% in May.  Housing starts came in at 975,000.
   2.   FedEx worries markets with depressed news due to record-fuel prices.
   3.   Morgan Stanley had earnings drop 57% year over year.
   4.  The Lakers were man handled in 6 games.  Celtics win their 17th Championship.
   5.   Tiger Woods is a machine; and a magician!

Positives:

    *    We are living in the times of the best golfer ever.  Tiger Woods, battling excruciating knee pain, consistently found ways to Eagle and Birdie when absolutely necessary.  He won the US Open at Torre Pines via an 18 hole playoff round and eventual sudden death hole.   Hats off to Rocco Mediate.

Negatives:

    *      Inflation is nearing.  1.4% increase in wholesale prices was higher than the 1% expected.  This increase is due to food and fuel price increases.  Both shot up nearly 10% over the last month.
    *     The financial sector has yet to reach bottom.  Along with Morgan Stanley’s announcement of lower than expected results a regional bank, Fifth Third, announced they’d be raising $2 billion in capital to survive the storm.
    *     Boston fans celebrate again, while Seattle fights for a team, weeps over a dismal baseball start, and Los Angeles is left wondering why having the two most highly regarded coaches in sports isn’t bearing championships.  Come on Dodgers!