8/16/2004

Gushing Oil

Hello:

With oil topping $46/barrel (was it really $34/barrel in June?), it does not surprise us that consumers are thinking twice before driving to the store. With retail figures coming in on the weak side, where is the likely future strength of the economy to come from? According to Steve Rosenbush of BusinessWeek/Online, the next pillar of the economy will be capital spending from cash-rich businesses. His article in today's edition states that, "By some measures, balance sheets are cleaner than they've been in nearly 50 years. Let's hope he is correct!

Concerns about increased accountability? Contact us regarding written investment policies. Documentation is key!

Terri G. Millson, CIMC President

Ray Dicius, GEPC LPL Branch Manager