gseApologies - it was SanFelipe who asked about the Rendezvous...

gse

Apologies - it was SanFelipe who asked about the Rendezvous bbq joint in Memphis.

Some further observations about the US economy - and this contradicts my bearish view - everywhere we've been, including the quite depressed Memphis economy, positions vacant signs have been hung everywhere on retail and hospitality businesses. We have not seen a single Starbucks that hasn't got a job vacancies advert in the window. On asking the staff if the signs are genuine we are told that they are very short-staffed. For those with basic customer service skills, there is no shortage of jobs. So far we've seen this labor shortage in LA, Las Vegas, Phoenix, Dallas, Nashville, Memphis and now Miami. Despite this, the local media consistently run stories about falling house prices and negative equity for home owers.

The other obvious thing is that the affluent, tourist oriented communities show signs of continuing growth, new building and retail renewal investment etc. On the other hand, the less affluent areas are really struggling. Perhaps the gap between rich and poor is widening again, with the affluent relatively unaffected by the economic woes.

Take care gse.