December 11th

In This Issue

Economic Notes:



Where the Rich are Richer

Wealth distribution in a selection of North American, European and Asian Countries.

The wealthiest 10% owns the following share of the assets

In 2000 an adult needed to own $61,000 of net assets to be in this “Top 10%” group.

  1. Switzerland 71.3%
  2. United States 69.8%
  3. Indonesia 65.4%
  4. Canada 53.0%
  5. India 52.9%
  6. Norway 50.5%
  7. South Korea 43.1%
  8. Spain 41.9%
  9. China 41.4%
  10. Japan 39.3%

Source: World Institute for Development Economics Research

Median Household Income - 2005

  • United States $46,242
  • State of Utah $47,934
  • Davis County $56,809
  • Weber County $49,107
  • Salt Lake County $48,068
  • Utah County $47,428
  • Washington County $43,980
  • Cache County $41,097

Source: US Census Bureau, 2005 American Community Survey

# and % Population Income Below Poverty Level - 2005

  • United States 38,231,521 13.3%
  • State of Utah 246,047 10.2%
  • Cache County 14,640 15.5%
  • Utah County 52,788 12.2%
  • Weber County 22,427 10.8%
  • Salt Lake County 90,471 9.7%
  • Washington County 10,707 9.1%
  • Davis County 15,451 5.9%

Source: US Census Bureau, 2005 American Community Survey

This Weeks Leads:

  • Tilt
  • Nickels and Dimes, Inc. trades as Tilt at 150 locations nationwide.
  • The family entertainment centers occupy spaces of 1,500 sq.ft. to 30,000 sq.ft. in malls, festival marketplaces and lifestyle centers.
  • Growth opportunities are sought nationwide during the coming 18 months.
  • Typical leases run five to 10 years plus options.
  • For more information, contact
    • Ron Kostelny, Nickels and Dimes, Inc., 4534 Old Denton Road, Carrollton, TX 75010;
    • 972-939-4200,
    • Fax 972-492- 5705;
    • Web site: www.tilt.com.
  • Kerasotes Theatres
  • Kerasotes Theatres operates over 75 locations throughout IA, IL, IN, MN, MO and OH.
  • The movie theaters occupy spaces of 40,000 sq.ft. in freestanding locations, malls, entertainment and power centers.
  • Growth opportunities are sough throughout the existing markets during the coming 18 months, with representation by Mid-America Real Estate.
    • For more information, contact Steve Frishman, Mid-America Real Estate, 2 Mid America Plaza, Suite 330, Oakbrook Terrace, IL 60181;
    • 630- 954-7300, Fax 630-954-7304;
    • Email: sfrishman@midamericagrp.com.
  • Bertucci’s
  • Bertucci’s operates 90 locations throughout CT, DE, MA, MD, NC, NH, NJ, NY, PA, RI, VA and Washington, DC.
  • The restaurants, which specialize in brick oven pizza, occupy spaces of 6,400 sq.ft. in endcaps, malls and pad sites.
  • Growth opportunities are sought throughout DE, NJ and PA during the coming 18 months, with representation by RAS Brokerage. A liquor license is required.
    • For more information, contact David Orkin, RAS Brokerage, 633 West Germantown Pike, Suite 203, Plymouth Meeting, PA 19462; 215-322-8070, Fax 215-322-8460; Email: orkin@rasbrokerage.com; Web site: www.bertuccis.com.
  • Oshkosh B’Gosh Factory Store
  • Oshkosh B’Gosh, Inc. trades as Oshkosh B’Gosh Factory Store at 160 locations nationwide.
  • The children’s apparel stores occupy spaces of 4,000 sq.ft. to 5,000 sq.ft. in outlet and strip centers.
  • Growth opportunities are sought nationwide during the coming 18 months.
    • For more information, contact Jeff Ruback, Oshkosh B’Gosh, Inc., 112 Otter Avenue, PO Box 333, Oshkosh, WI 54903;
    • 920-231-8800,
    • Fax 920- 232-4428;
    • Website: www.oshkoshbgosh.com.
  • Heidi’s Brooklyn Deli
  • Heidi’s Brooklyn Deli operates 30 locations nationwide.
  • The delis occupy spaces of 2,000 sq.ft. to 3,000 sq.ft. in urban/downtown areas.
  • Growth opportunities are sought throughout MA during the coming 18 months, with representation by Advisors Realty/Boston Realty Advisors.
    • For more information, contact
    • Chris Mearn or Jason Weissman, Advisors Realty/Boston Realty Advisors, 715 Boylston Street, Boston, MA 02116;
    • 617-375-7900;
    • Emails: cmearn@bradvisors.com and jweissman@bradvisors.com; Web site:
    • www.advisorsretail.com.


Rich and Richer

Where the Income Is

Where the Poverty Is

Economic Notes

This Weeks Leads

  • Economic Notes:
    • Bankruptcy Filings
    • Personal bankruptcy filings continue to inch higher but still have only recovered a small portion of their first quarter decline. Personal filings in the third quarter were down 69% from last year as Chapter 7 filings fell sharply again. Business bankruptcies fell 44% for the second consecutive quarter, on the back of a hefty decline in Chapter 7 filings.
    • Factory Orders (M3)
    • U.S. factory orders fell 4.7%, reflecting a larger than expected decline. The decline was the biggest since July 2000.
    • Semiconductor Billings
    • Global semiconductor billings rose by $520 million in October, to a level of $21.89 billion. This represents a 2.5% increase relative to September, and a 9.2% increase relative to October 2005. Billings rose in all regions of the world during October, with the fastest gains seen in Europe.
    • Productivity and Costs
    • As expected, productivity growth for the third quarter was revised higher. Nonfarm business productivity grew 0.2% (SAAR), compared to 0.0% in the preliminary release. Growth in unit labor costs saw a significant downward revision, from 3.8% (SAAR) to 2.3%; this was much a bigger revision than the consensus expected. Output and hours were revised up; real labor costs were revised down. Even more important, there was an enormous downward revision to unit labor costs in the second quarter, from 5.4% (SAAR) to -2.4%. The downward revisions to unit labor costs are very good news from an inflation perspective.
    • Jobless Claims
    • Jobless claims declined by 34,000 during the week ending December 2 to 324,000. Even with the drop the four-week moving average increased to 328,750, largely due to last week's Thanksgiving- distorted spike in jobless claims. Nonetheless, the move higher in recent weeks is another piece of evidence that job growth may be slowing.
    • MBA Mortgage Applications Survey
    • Mortgage demand increased 8.1% in the week ending December 5. Purchase applications increased 4.9% and refinance applications increased 13.7%.
    • Chain Store Sales
    • Chain store sales tumbled 2.6% in the week ending December 2, taking the index to its lowest level since late January. A drop in sales has become common in the week after Thanksgiving despite seasonal adjustment of the index. All told, the average decline over the past five years is now 3.0% with today’s hefty decline among the largest. Year- over-year growth rose to 3.1%, the strongest growth in seven weeks.
    • Employment Situation
    • The economy created 132,000 jobs on net in November, somewhat above consensus estimates. Construction and manufacturing are drags on the economy, but the remainder of the economy is expanding at a solid pace. Goods-producing industries took a beating, as expected, shedding 40,000, but this is below the loss of 62,000 in October. Indeed, October employment was revised down to a gain of 79,000 (from 92,000), although September's gains were revised upward to 203,000, from 148,000. The unemployment rate edged higher, to 4.5%, as expected.
    • Consumer Credit (G19)
    • Consumer credit declined in October by $1.2 billion to $2.38 trillion. The details of the report show that the latest decline in consumer credit was entirely driven by a hefty reduction in nonrevolving credit, which fell 3.2% at an annual rate. On the other hand, revolving credit increased 4.1% at an annual rate.
    • Weekly Natural Gas Storage Report
    • Underground storage of natural gas decreased by 11 billion cubic feet during the week ending December 1. This was very close to the expected draw of 12 Bcf from storage. Inventories are now 9% above the five-year average. This report is likely to have a neutral, to slightly bearish, effect on prices.
    • Oil and Gas Inventories
    • Crude oil inventories fell by 1.1 million barrels for the week ending December 1, according to the Energy Information Administration, slightly above expectations. Distillate inventories inched lower by 0.1 million barrels. Gasoline stocks fell 1.1 million barrels, above expectations. A rebound in refinery activity drove this drop in inventories; the report will likely be seen as bullish by markets.

    Source: Economy.com

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