Tuesday, March 03, 2009
Not A Surprise to Me
Back in the 1970s my then wife worked at auto parts stores for several years. They flourished during the recession because people were keeping their cars longer and, thus, more maintenance, up keep and repairs were being done.
Another prediction, companies that sell quality goods will do well. During the recession of the 1970s-1980s, Honda cars, Maytag and Anderson windows maintained good profit margins. I remember this from a Time magazine article years ago. Maytag is now owned by someone else, so who knows how they'll do now.
It seems that when money is harder to come by, people want to be sure they get the most for their dollar even if it means spending a few more dollars. That's why I just bought a Toyota Tundra rather than another brand.
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