Possibility of recession. Welcome to the White House, Mr. President. The first signal I picked up was that Coca-Cola , a real blue chip that had done very well through the years, let go of 20 percent of its workforce. Individuals who had worked nowhere else, in no other industry, were being shown the door. This happened in January.
Traffic is bad and getting worse, and home construction remains strong.
Restaurants are packed. The client is a manufacturer of anti-graffiti prevention sealer and remover. His product is used in porta-potties that go out on construction sites, and since then his business has slowed in other parts of the country as well. At the same time, a client in the construction business reported that he was unable to find a good general manager with experience in the industry. The newspapers were, and are, full of help-wanted ads in construction.