USA Today’s informal survey of economists reveals a recovery by summer. Ha! Ha ha ha! Ah-hahahahaha! Hoo-ha!
Okay, now that we’ve had our laugh, let’s get serious. 24/7 Wall St. reveals ten well-known companies that may not make it to 2010.
- Chrysler (Before hedge fund Cerberus bought the company from Daimler, one analyst put the value of Chrysler at $0. Presumably, it’s worth less now.)
- Sirius XM – (No surprise to me — terrestrial radio is really struggling, but the eventual emergence of mobile WiFi in cars will send satellite radio the way of Betamax.)
- Fannie Mae and Freddie Mac (Well, duh!)
- Rite Aid (Lost out to Walgreens and CVS.)
- The New York Times (The Internet is doing the to old-line print media what it’s doing to old-line broadcast media, only moreso.)
- Nortel, the huge telecom equipment company
- Pier 1, trading down at $.32 from a 52-week high of $8.25
- Charter Communications (Based on the service we got from Charter in St. Louis, it’s no wonder.)
- Hovnanian (Just one of many new home builders really struggling with the tanking real estate market.)
Back to the USA Today piece: reading the baseless optimism of the economists cited in the article reminded me again why I never really used my Econ degree for anything. Most economists are about as scientific as gypsy fortune-tellers — and less accurate.