Here’s the growing list of today’s bad economic and advertising news. We continue to believe that this weakness will likely lead to a cyclical downturn in advertising that could hurt TWX, CBS, VIAB, YHOO, NWS, and even GOOG.
- Advertisers at DJ conference making extremely cautious comments about ’08, all but predicting ad recession.
- Private equity media guru Steve Rattner says get ready for slower growth.
- Retail sales weak
- Bernanke acknowledges that oil prices equal inflation, placing further strain on economy.
- Bernanke says economy will “slow noticeably” in Q4.
- LookSmart has bad quarter
- Toll Brothers says housing cancellations accelerated in Q4 and October worse than September
- Cisco issues lukewarm outlook
- Dollar continues crash