10/09/2006

Open Season

Hello:

It appears to be open season on Wall Street. In addition to the opening of the earnings season tomorrow, with the announcement of Alcoa's third quarter earnings, we have two former chairpersons of Hewlett Packard using 60 Minutes as a platform to shoot volleys at the current HP board, we have across the aisle salvos being fired in Congress regarding who knew what when, we have hedge funds falling off ledges and last, but not least, we see foreign press headlines linking online gaming money to the Abramoff scandal. Perhaps the Brooks Brothers should consider selling camouflage suits and ties?

Some solid information to watch for this week is the retail sales data on Friday. The US consumer has a powerful influence on our economy, and can possibly make the difference between a "soft landing" and a recession. Happy Hunting!

The Pension Protection Act of 2006 (PPA) allows taxpayers to donate up to $100,000 per year from their IRA income tax free. Please consult your taxpreparer, and/or have your donor consult their taxpreparor, as to the details of this new law before making a decision.

Terri G. Millson, CIMA, CIMC President