COMMENTARY: WAIT AND
SEE ... SALES SLUMP
The industry appears to be in a quiet, wait-and-see mode these
days, which is understandable, but not particularly healthy. Some
manufacturers seem to have slowed down their new product
development, hiring, and other investments, waiting to see who is
hired as CEO at A.C. Moore and Jo-Ann's, and who buys Michaels.
Some vendors are asking, "Should I spend all this money for a
new line when I don't know in what directions the new CEO's and
owners will take the companies? All this work, and then not get a
straight answer from the buyers because they don't know,
either?"
We may see fewer new products at trade shows until these
questions are answered. And of course, a decline in the number of
new products certainly won't help industry sales.
NEW COLUMNS THIS ISSUE
Business-Wise. The last issue of CLN included
"10 Questions the Industry Is Asking" and subscribers
responded with some of the most thought-provoking, blunt answers CLN
has ever published. An excerpt is published below, but their
complete responses are well worth reading. You may not agree with
everything you read, but it will make you think.
Kate's
Collage. A funny excerpt from the new novel, Talk
Gertie To Me, by noted needlework designer Lois Winston.
Industry
Research. CLN has added to its list of all
the industry-related market research studies a new one from the School,
Home, & Office Products Assn. (SHOPA).
Store Design
Tips. Practical advice for "customer
comfort," your checkout counter, and your store's exit zone.
Reminder: With the summer trade shows coming up, vendors
need to maximize their investment in their exhibits. Last year
industry and
public relations pro Kindra Foster wrote "Trade Show Press
Pointers" and "Anatomy of a Product Press
Release."
They still ring true today.
TAKE THE CLN POLL:
IMMIGRATION
Today tens of thousands of people, mostly of Hispanic origin,
were supposed to not go to work and/or boycott U.S. businesses as a
protest against the bill passed by the House of Representatives that
would label illegal immigrants as felons. Was their effort
successful? Retailers, did you notice a drop in sales from a usual
Monday in May? Everyone: if you have any Hispanic employees, did any
of them not show up for work today? To vote, click on Industry Polls
in the right-hand column or click HERE.
CLN
POLL: READERS RATE
WAL-MART
The debate over Wal-Mart has divided the country and – no
surprise – our industry, too. Almost a third (32.2%) of CLN
voters in this unscientific poll believe Wal-Mart is good for the
country; 42.4% say it's bad for the U.S., and 25.4% think it's too
close to call.
The negative feeling is stronger when the question is the effect
on our industry. Just over a quarter (25.5%), think the discounter
is good for the industry. Almost half (49%) believe Wal-Mart is bad
for the industry, and 25.5% aren't sure one way or another. (Reminder:
To CLN's knowledge, the most evenhanded analysis of Wal-Mart
is the new book, The Wal-Mart Effect, by Charles Fishman. CLN
strongly recommends it, no matter how you feel about the company.)
SO GAS PRICES ARE RISING –
NOW WHAT?
Last summer many in the industry claimed rising oil prices were
hurting our industry's sales. Now, as the price of gasoline climbs
to $4 and beyond, we're faced with an even more serious situation
– if gas prices are the culprit we think they are.
But the problem may be more deep-seated. The 4/23 edition of Parade
cited some disturbing statistics: A) The real median
household income fell 3% from 2000 to 2004. B) During the
same time period, the percentage of households earning $25,000 to
$99,000 shrank 1.5%. C) Last year real average weekly
earnings fell 0.4%. D) The savings rate is the lowest it's
been since the Great Depression, and credit card debt is at a record
$9,312 per household. Then add the rising health care costs and the
fear of future job out-sourcing and you have a middle class that
doesn't feel like crafting as much as they might otherwise.
Unless....
1. A cardinal rule in the industry has always been that a
product or group of products will be successful if the consumer
understands that making a project will save a substantial
amount of money over buying a readymade.
Yet many retailers focus on cutting the price of the product
without showing consumers how that product can be used to
save money. Who cares what the price of acrylic paint is, if
consumers don't know what to do with it?
2. Instead of advertising "Half off on all art
supplies," retailers could show a stenciled desk or a painted
bird house and say "Make it yourself and save!"
3. Retailers could also emphasize that making a project
results in a one-of-a-kind item, something that can't be bought
anywhere. Whether it's personalizing a pair of jeans with
rhinestones or fabric paint, knitting a unique scarf, or making a
special necklace – a craft store is the only option. Scrapbooks
always result in a unique project, but keeping them simple – and
therefore less expensive – will probably entice more newcomers.
4. Finally, the satisfaction and relaxation of making something
yourself will always be a benefit our stores can offer. But in this
cash-strapped era, if consumers are excited enough ("Oh, I want
THAT!") they will find the money to buy the products. An
Italian shoe manufacturer once said, "I don't sell shoes, I
sell beautiful feet."
Retailers are at the mercy of rising gas prices, but they are not
helpless to act.
CHARTPAK ACQUIRES CERTAIN
ASSETS OF CRAFT HOUSE
Chartpak acquired the selected assets and rights of the
painting and craft business segment of Craft House Corp. The
brands acquired are Craft House® and its painting and craft
business product lines, including Original Paint by Number®
guided art kits; Sun Catcher™ paint-it-yourself plastic
window ornaments; Etched in Slate™ grayscale painting on
simulated slate; Skilcraft® science-based activity kits for
children; Kreative Kids™ activity kits; WHEE-LO®
original magnetic spinning toy; and others.
Chartpak's brands include Chartpak® for graphics art, KOH-I-NOOR®
for art materials, Pelikan® for art materials and fine
writing, Clearprint® for media, Frances Meyer® for
scrapbooking, and now, Craft House® for painting, crafts and
science activity kits.
"Chartpak intends to expand the strategic focus of Craft
House as a provider of paint, craft, and science-based educational
and leisure time products," says President Steven Roth.
"This acquisition complements and enhances the Chartpak product
offering. Utilizing our current market expertise and technologies,
our creative teams will be able to develop new and exciting Craft
House branded products."
For more info, call 413-584-5446 or 800-628-1910, fax
800-762-7918, email info@chartpak.com,
or visit www.chartpak.com.
THE MICHAELS ACQUISITION: BE
PATIENT
Michaels should be an attractive acquisition for investors
– a market leader, strong cash flow, no debt, etc. - but the sale
of the company may take longer than expected, Reuters reported. The
problem is the number of retail operations and store leases that are
on the block with Michaels.
The long list includes 80 redundant locations owned by Federated
Department Stores after it bought the May Department Store chain
last year, Lord & Taylor, David's Bridal, After Hours
Formalwear, Priscilla of Boston, and Jones Apparel Group, which owns
Nine West and Barneys. Meanwhile, Saks is selling its Parisian
department store chain, and 27 former Wal-Mart and Sam's Club leased
locations are up for sale.
"Investors should keep in mind that this (auction) process
will take longer than most initially expected and will by its very
nature be lumpy," FTN Midwest Securities Corp. analyst Jeff
Stinson told Reuters.
SCRAPBOOKING – WITHOUT
BUYING SUPPLIES
The 4/26 edition of the Wall Street Journal included a
glowing review of yet another Internet site/service that has ominous
implications for the sales of scrapbook products. The site is
Smilebox (www.smilebox.com).
"It offers templates for creating attractive virtual
scrapbooks, slide shows, photo-books, postcards, and greetings using
your photos, which automatically load into blank image space
holders. Once finished, a simple step lets you email a Web link of
your Smilebox creation to anyone."
The reviewer tested a beta version – the official launch is
June 1 – and made a scrapbook, postcard, and a photo book, and did
not shop in a craft or scrapbook store for supplies.
He concluded, "We found Smilebox simply enjoyable. It jazzed
up our photos with fun designs, gave us the ability to see the final
product during any stage of our creating process, and didn't take
long to use. If you're looking for a new way to share digital
photos, this company's Web site is well worth a look."
Elaine Schmidt of Elaine Schmidt Designs said, "This is
definitely the future of creative pastime pursuits - for the young
and techno, as well as those of us who don't want to acquire more
material things to fill up the bookshelves of our homes. This type of
service will definitely have an impact on our industry in the future
and everyone should be made aware of it."
A.C. MOORE'S FIRST QUARTER
RESULTS
Sales for the first quarter grew 8.2% to $132.9 million, but
same-store sales decreased by 1.8%. Net income for the quarter was
$136,000 ($0.01/diluted share), which includes a net tax expense
of $555,000 ($0.03) for stock-based compensation. On average, eight
analysts polled by First Call/Thomson Financial expected the company
to report breakeven results. Net income a year ago was $1.25 million
($0.06).
CEO Jack Parker said, "Our first quarter results continued
to be impacted by the significant decline in our yarn business. We
are encouraged by the improvement in sales in the other merchandise
categories including jewelrymaking, seasonal, and basic crafts,
which increased almost 6% in comp stores. As that trend continues in
2006, it will help us return to positive growth for the remainder of
the year."
CHANGES IN THE INDUSTRY'S
E-COMMERCE PICTURE
Not that long ago e-commerce craft sites were the talk of the
industry's trade shows. How times have changed. Michaels has
stopped selling anything on its website except gift cards, Internet
Retailer reported. The site started with a wide range of
products, then shrunk to just framed prints. The site had ranked
#274 in the Internet Retailer "Top 400 Guide to Retail Web
Sites."
"Crafters and home decor enthusiasts are passionate about
their creative endeavors and want to be able to touch products and
see colors in person," says Sr. Marketing VP David Abelman.
"While most crafters research product offerings via the
Internet, they make their purchases in store."
Meanwhile, IdeaForest named Diana Schulz as CEO, replacing
Founder/CEO Rich Bergsund who resigned. IdeaForest operates
Joann.com for Jo-Ann's and still offers 40,000 SKU's on its
website; it's the market leader in craft e-commerce, according to Internet
Retailer. Schulz had been SVP Corporate Development and
Strategic Planning for Universal Studios.
(Note: The rising price of oil may test the two companies'
approach to e-commerce. Should a chain's website primary function be
to drive traffic to the stores, or can it be a highly profitable
"store" on its own? Will our industry's e-commerce grow
because of high gas prices? Email your thoughts to CLN at mike@clnonline.com.)
ANSWERS TO INDUSTRY QUESTIONS
In the last issue CLN listed "10 Questions the
Industry Is Asking" and received a number of interesting
answers. They are all in Business-Wise, but here are some excerpts
from the first question, "Has scrapbooking peaked, or is it
still growing but some sales are being siphoned off by non-industry
retailers? If so, how do we get those sales back?"
1. Office Depot has replaced its scrapbooking section with
school supplies. Target is replacing it with gift bags and
wrapping paper. Has scrapbooking peaked? Yes. Is this a bad thing?
Not if we learn something from it.
Like every craft these days, it starts with home parties, moves
to independent stores, and gets taken on by the chains. They chew it
up and spit it out. What's left is a small, interesting business
that if lucky will continue long enough for a resurgence ten years
later. (Scrapbooking won't last that long. Digital is changing the
way you print photos and the average scrapbooking item sells for too
little to generate good sales per sq. ft.)
I think scrapping peaked about the same time Wall Street dubbed
it the next big thing. Maybe not in dollars for vendors, but
certainly in terms of the number of participants. Fortune
magazine said it was an up-and-coming trend and the big box
retailers took notice. Sales surged as vendors stocked stores. But
stocking stores with merchandise that gets dumped into sale bins a
few months later is not a good business model. You don't become a
hobbyist by rummaging through a sale bin (If you're in the sales
bin, you are already hooked).
Now the home party people have lost their way, the independents
are either looking for ways out of their leases or for other products to
sell, the craft chains are groping for the next big thing, and
vendors are booking into every show in a desperate attempt to find a
new customer to sell to. Only the big retailers have moved on. – Rob
Bostick, JudiKins
2.The first phase of scrapbooking has peaked, and I think
many of the potential first-phase consumers have used the photos
from their piles. The digital cameras are here to stay and I think
might be having a negative impact on scrapbooking, because people
are doing different things with the pictures regarding storage,
printing, etc. I think scrapbooking can do better by embracing the
digital age and using technology in the stores and in product at the
front end, like retailers do in back-office operation.
Yes sales are being siphoned off by non industry retailers. The
way to get them back is innovation, product knowledge and service.
– Peter Heinsimer, Westlake Associates
3. I think the answer is EVERY Category has peaked and
will follow a "reverse" graph to the price of gas.
Simplistic I know, but for those shops tracked these past three
years, it is proving true. The anomalies are those with strong
on-line presences. – Wheat Carr, Wandering Wolf Design
(Note: To read more thought-provoking answers to all of
the questions, visit www.clnonline.com
and click on Business-Wise in the left-hand column. To agree,
disagree, or add another thought, email CLN at mike@clnonline.com.)
THE YARN PUBLIC RELATIONS
EFFORTS ROLL ON
The knit/crochet trend may have slowed, so the public relations
efforts to promote the category are more important than ever.
EVENT. The Saturday before Easter, the Craft Yarn Council
of America teamed with the NYC Parks Dept. for its annual EGGstravaganza,
first time that crochet, knitting and yarn crafts were offered. CYCA
Exec. Dir. Mary Colucci said the response was overwhelming. "It
was like the NY Knit-Out on steroids." In the four hours
of the event, CYCA taught approximately 600 people (mostly kids) to
knit or crochet and as many as 1,750 to make the yarn crafts.
MEDIA. The Dallas Morning News (Apr. 17) and the Chicago
Tribune (Apr. 5) published major feature stories on the value of
knitting. The Tribune quoted Ann Webster, director of the
cancer and HIV/AIDS program at the Mind/Body Medical Institute in
Chestnut Hill, MA and an instructor at the Harvard Medical School:
"When you knit, you get into a meditative state, which elicits
the state of peacefulness." ... CLN learned Meredith
is publishing eight yarn titles this year. The company recently
bought a digital agency, O'Grady Meyers, to expand its marketing
offerings online. This could ultimately result in stronger yarn
sales.
TV. The Oxygen network will re-run the knitting show
pilot, Stitchcraft, on May 19, 7:30 pm EDT; May 20, 4 pm; and
May 21, 2:30 pm. For more info, visit www.oxygen.com.
DATES. The 2006 Knit-Out & Crochet in New York
will be Sun., Sept. 17 in Union Square Park. The Capital Crocheters
& Knitters, sponsors of the Washington, DC Knit-Out, are
taking a year to reevaluate how the event is run and managed.:
CHARITY. Cheryl Gunnells, Exec Dir. of Publications for Leisure
Arts, is the new president of the Warm Up America Foundation ...
The May issue of Dynamic Resource Group's Creative
Knitting magazine includes info and projects for Guideposts'
Knit for Kids program, which gives knitted sweaters to needy
children around the world. Knit for Kids began in 1996; thus far
300,000+ sweaters have been knit and distributed. To learn more
about Knit for Kids, visit www.creativeknittingmagazine.com.
RANDOM NOTES, RANDOM THOUGHTS
1. Now I'm going to sound like a broken record; I sure
wish vendors in categories such as scrapbooking, painting, and
cross stitch would join forces to promote their categories the way
the knit/crochet vendors have done. Yarn sales have slowed, but I
bet they're still higher than they were three years ago, and they
will remain higher thanks to the CYCA.
2. I thought Martha Stewart's licensing deal with EK
Success would be a huge boon to the industry because she would
have a vested interest in bringing people into our stores. Turns
out, Martha has lots of vested interests: her deal with Kmart
for various home products; a new deal with Federated Department
Stores (Macy's) to design higher-end home products; and now she
has a licensing deal with Safavieh for a line of Martha rugs which
will be sold in furniture and rug stores. She even has a deal with
KB Home, a home builder. Her first "branded community" was
unveiled in March in Cary, NC and others are in the works.
PEOPLE & EVENTS
SHOWS. Online registration for the CHA Summer Show
(July 21-23) is now available. Visit www.chashow.org.
One special event is "Chicago, My Kind of Town" featuring
the acclaimed Second City comedy troupe, a buffet dinner, and
dancing to a 10-piece orchestra. It's Sat., July 22, 6–9:30 pm at
the Hyatt. Advance tickets are $35, $50 on site. To register,
members need their CHA member ID and zip code. (If you do not know
your Member ID, email membership@craftandhobby.org.)
The show has also added the popular Winter Show feature, the Innovations
showcase of new products.
EVENTS. The National Scrapbooking Assn. has a logo
for use to promote National Scrapbooking Day which is this
Saturday. Download it and get more info at www.nationalscrapbookingday.com.
BEADS. Popular bead authors Katie Hacker (www.hiptobead.com),
Jamie Hogsett, and Jeannette Cook will share the stage on Author
Day, and Karlis Karklins and Alice Scherer will give free lectures
and presentations at Bead Expo '06, May 17-21 in Charleston,
SC. More than 6,000 are expected to attend for the shopping,
classes, lectures, consultations with Beadwork magazine editors, and
a gallery of The Beaded Figure art exhibit.
PEOPLE. Aida Alvarez, former administrator of the U.S.
Small Business Administration, and James Cash, Jr., retired
professor of business administration at Harvard, were
nominated to the board of directors of Wal-Mart.
AUTHORS. Needlework designer and author Lois Winston has
sold another novel, Love, Lies, and a Mocha Latte, a romantic
suspense novel whose heroine is a renowned needle artist whose works
are sought-after collectibles. The book will again be published by
Dorchester Publishing and is slated for release the second half
of 2007. To read an excerpt from Lois' first novel, Talk Gertie
To Me, click on Kate's Collage in the left-hand column or click HERE.
Lois has a project in the latest (June) issue of The Cross
Stitcher.
DECORATIVE ARTS COLLECTION. Hired Andy Jones as its
Director. The museum remains in Wichita, KS, but the business office
is in Atlanta. Contact Andy by email andyjones@decorativeartscollection.org);
mail (PO Box 18028, Atlanta, GA 30316); or phone (404-627-3662). The
DAC Museum is at 393 N. McLean Blvd., Wichita, KS 67203 ... The DAC
will host two events on June 6 during the Society of Decorative
Painters Conference in Nashville – the DAC Forum with
Mary Jo Leisure and an Evening with the DAC during which Andy
will provide a close-up view of some of the contemporary and
historic painted treasures that are a part of the DAC’s collection
... Winners of DAC Awards Competition will also be announced
at the SDP convention. It's an international juried competition
providing cash purchase awards, including the $1,500 Joan Johnson
Award of Excellence sponsored by Delta Color; $1000 first
place sponsored by Steph’s Folk Art Studio; $600 second
place sponsored by Sun-K; and $400 third place sponsored by Stan
Brown’s Arts & Crafts. To learn more about the DAC, click
on Kate's Collage in the left-hand column, then The Decorative Arts
Collection in the right-hand column.
NEEDLEWORK. "The needlearts are the new yoga" is
heard often recently, and now they will be together on May 21 at the
Philadelphia Museum of Art. The program is "Yoga Unites"
at the Healthy Living Expo presented by Living Beyond
Breast Cancer and TNNA's Stitch to WIN Against Breast
Cancer. For more, visit www.LBBC.org
or contact Sherry Mulne at bdirect@Columbus.rr.com
or 614-237-0700.
MISCELLANEOUS NEWS
WAREHOUSES. Michaels is relocating its Southeast seasonal
distribution center from Savannah, GA., to Jacksonville, FL, the Business
Journal of Jacksonville reported. It will be almost 285,000 sq.
ft., five miles from a 506,000-sq.-ft., everyday-item distribution
center with 160 full-time employees; the seasonal center will employ
about 50 full-time workers and about 100 temporary jobs during peak
periods. Michaels execs told the Journal they expect to
increase the shipping containers it moves through Jacksonville to
about 4,000 a year from 1,000.
MARTHA. For the first quarter, Martha Stewart Living
Omnimedia lost $6.8 million ($0.13/share) compared with a loss
of $19.2 million ($0.38) a year ago. The improvement was due to a
60% increase in revenue, driven by better magazine ad sales. The
company announced it would be starting a new Martha
"how-to" website in early 2007. (Note: CLN bets
that's where her upcoming scrapbook and craft products will be
promoted.)
MEDIA. Watch for a new magazine, Craft: Make Cool Stuff,
from the publishers of Make, which is wildly popular with
young people. Available this fall; this looks like it will not be
your traditional craft magazine. Visit http://makezine.com/craft.
ROLODEX. M. C. G. Textiles moved to a new facility. M.C.G.
manufacturers needlework fabrics and associated textile products;
key lines include Care Bears™ and Precious Moments™
products; others include latch hook kits, open-stock, pre-cut yarn
and accessories; fabric and novelty yarn locker hooking books and
accessories, etc. The address is 596 Crane St. Lake Elsinore, CA.
92530-2737. Call 951 674-1350 or 800-856-2499; fax 951-674-6514.
Visit www.mcgtextiles.com
and email sales@mcgtextiles.com.
PHONES. Tired of calling a company and getting an
automated phone system when you want to speak to a real person?
Visit www.gethuman.com/us
which will give you the strategy for getting an actual human being
on the phone at major US. companies.
YARN. Circles in suburban Boston is one of the most
interesting yarn shops CLN has seen, and this summer owner
Allison Nevitt will be giving up half her ownership by selling
shares to the community. Visit www.circles-salon.com.
GARDEN RIDGE. Is expanding again. The company, which
emerged from bankruptcy a year ago, signed a 15-year lease for a
134,465 sq.-ft. store, its fifth store in the Houston area.
ELECTION. The Craft & Hobby Assn. Nominating
Committee Chair, Jane Marski (Hannah’s Home Accents),
reports that CHA is now accepting nominations for candidates for
three-year terms for the Board of Directors beginning in 2007. To
nominate someone, visit the "Members Only" section of www.craftandhobby.org,
call 201-794-1133, or email memberservices@craftandhobby.org.
The deadline is Aug. 4. The Committee includes Richard Brown (Sunrise
Craft and Hobby), Ted Hesemann (Herrschner’s),
Georgeanne Bender (Kizer & Bender), Karen Bremer (The
Red Bee), and Lynda Musante (Cardinal Brands).
PR. Industry trend pro Ellie Joos tells CLN Ellen
DeGeneres tv series now has a new segment in which viewers can call
her and teach her to do something, over the phone. "How about if
people from the craft industry try to get in on this?" Ellie
asked. (Note: Good question!) In one segment Ellen had a
10-year-old boy on who makes wonderful origami animals and sells
them to raise money for Katrina victims. At the end of the segment,
Ellen told him that A.C. Moore was giving him $1,000 worth of
origami paper and donating $5,000 to his particular charity. To
learn more, visit http://ellen.warnerbros.com.
SCRAPBOOKING. The pilot of Scrapbook LifeStyle is
now online at http://scrapbooklifestyle.com/default.aspx.
There will be a new three-minute show each weekday featuring various
designers creating pages, and hosted by Tony Barber.
SCRAPBOOKING. How ubiquitous has it become? A contributor
to a TwoPeas message board heard an Orkin radio commercial in which
if the husband lost a bet with his wife he would have to take her to
a scrapbook show.
ALTERED BOOKS. The Galveston Daily News recently featured a
article on altered books and highlighted a local group, Mixed
Medians, which meets at a local Hobby Lobby, and directed
readers to a Yahoo group, http://groups.yahoo.com/group/mixedmedians
and the Int. Society of Altered Book Artists at www.alteredbookartists.com.
COLLAGE. Kristine Kadlec Studios created a list of books,
articles, collage organizations, and websites for collage. Visit www.kristinekadlec.com/learning_collage.html.
PAINT. Sherwin-Williams, the parent of Krylon,
Dutch Boy, and Duron paints, reported its first-quarter profit
jumped 36.5% to $113.7 million.
BEADS. Last Saturday all of the Michaels stores offered
jewelry make-it/take-its and demos for four hours.
ROLODEX. As of today, Rose Art has become MEGA
Brands America.– Mega Bloks acquired Rose Art last year. A new
distribution facility has opened in Fife, WA and manufacturing and
distribution in Eugene, OR will be phased out. Invoices should now
be mailed to Mega Brands America, 6 Regent St., Ste. 150,
Livingston, NJ 07039. Call 973-535-1313, ext. 1135.
MARKETING. To read some excellent marketing tips for small
businesses, visit www.babyshopmagazine.com/spring06/mareketingtips.htm.
THE CREATIVE NETWORK: JOB
OPENINGS
To see a more extensive listing of job openings from the only
personnel recruitment firm specializing in our industry, click on
Jobs in the left-hand column or click HERE.
THE CLN RETAIL INDEX
A. C. Moore (ACMR). Last*: 18.65 ... Change**: +0.41
Hancock Fabrics (HKF). Last*: 3.51 ... Change**: +0.22
Jo-Ann Stores (JAS). Last*: 12.26 ... Change**: -0.23
Michaels (MIK). Last*: 37.83 ... Change**: +0.82
Wal-Mart (WMT). Last*: 45.03 ... Change**: -0.74
CLN Retail Index. Last*: 162.46 ... Change**: +0.4%
Dow Jones Index. Last*: 10,877.51 ... Change**: +2.1%
*Apr. 28 ** from Apr. 14 Prices are exclusive of dividends
WHY I AM TIRED
For a couple of years I've been blaming it on lack of sleep, not
enough sunshine, too much pressure from my job, etc. But now I found
out the real reason: I'm overworked. Here's why:
The population of the U.S. is 273 million. 140 million are
retired – that leaves 133 million to do the work. There are 85
million in school. Which leaves 48 million to do the work.
Of this there are 29 million employed by the federal government,
leaving 19 million to do the work. 2.8 million are in the armed
forces, which leaves 16.2 million to do the work.
Take from the total the 14.8 million people who work for state
government and that leaves 1.4 million to do the work. At any given
time there are 188,000 people in hospitals, leaving 1,212,000 to do
the work. And there are 1,211,998 people in prisons, leaving just
two people to do the work.
You and me. And there you are sitting on your butt, at your
computer, reading jokes. Nice, real nice.
REMINDERS
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3. If you ever have trouble with your password, click on
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to you.
4. Creative Leisure News is published the first and third Mondays of each
month. Your next issue will be Monday, May 15.
xxx