Bad News Fast and Furious This Morning

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

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