Allan’s Movie World and JustJayme! I need you two to send me a link with your 125×125 ad button as soon as possible. Tryto keep the size down as best as possible and no flash please.
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The jobs report came out this morning showing that the U.S. unexpectedly lost 4,000 jobs in August. As a result, the market futures are all down about 1% pre-market trading. Due to the unexpected loss in jobs, the pressure has been placed on the Federal Reserve to go ahead and cut rates later this month or sometime this year. If they don’t, expect the U.S. to fall into a recession. It may be a good time right now to sell what you have for a profit because the next few days may not be the best for the market. I’d expect the market to close about 300 points down today as a result of the jobs report. I’m currently 60% invested but hopefully I can close out more of my positions for a profit in preparation for today. It’s amazing how much playing the market can teach someone about how the U.S. economy works. Of course it’s only interesting if you’re into that kind of stuff! Good luck today. It’s not going to be pretty.
Update: Markets closed down 250 points today. It was a nice sale. I picked up quite a few stocks on their way down. We’ll see a rebound next week, not necessarily on Monday but sometime next week we will in anticipation of the FOMC rate cut. Everything’s finally starting to make sense!
Seems that after yesterday’s keynote speech by Steve Jobs, quite a few iPhone users were upset at the $200 discount on the iPhone only two months after release. Here’s a copy of his letter found on the Apple website:
To all iPhone customers:
I have received hundreds of emails from iPhone customers who are upset about Apple dropping the price of iPhone by $200 two months after it went on sale. After reading every one of these emails, I have some observations and conclusions.
First, I am sure that we are making the correct decision to lower the price of the 8GB iPhone from $599 to $399, and that now is the right time to do it. iPhone is a breakthrough product, and we have the chance to ‘go for it’ this holiday season. iPhone is so far ahead of the competition, and now it will be affordable by even more customers. It benefits both Apple and every iPhone user to get as many new customers as possible in the iPhone ‘tent’. We strongly believe the $399 price will help us do just that this holiday season.
Second, being in technology for 30+ years I can attest to the fact that the technology road is bumpy. There is always change and improvement, and there is always someone who bought a product before a particular cutoff date and misses the new price or the new operating system or the new whatever. This is life in the technology lane. If you always wait for the next price cut or to buy the new improved model, you’ll never buy any technology product because there is always something better and less expensive on the horizon. The good news is that if you buy products from companies that support them well, like Apple tries to do, you will receive years of useful and satisfying service from them even as newer models are introduced.
Third, even though we are making the right decision to lower the price of iPhone, and even though the technology road is bumpy, we need to do a better job taking care of our early iPhone customers as we aggressively go after new ones with a lower price. Our early customers trusted us, and we must live up to that trust with our actions in moments like these.
Therefore, we have decided to offer every iPhone customer who purchased an iPhone from either Apple or AT&T, and who is not receiving a rebate or any other consideration, a $100 store credit towards the purchase of any product at an Apple Retail Store or the Apple Online Store. Details are still being worked out and will be posted on Apple’s website next week. Stay tuned.
We want to do the right thing for our valued iPhone customers. We apologize for disappointing some of you, and we are doing our best to live up to your high expectations of Apple.
Steve Jobs
Apple CEO
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