Gold recovering some in thin trqading

[ancona]

Well, PM's in general seem to be holding on to some light gains today, in some of the thinest trading I believe I have ever seen.

It looks like retail stock participation is non-existent at the end of this year. I hope and pray that things get better in the first quarter [second federal fiscal quarter] because I am quite certain my firm cannot have another disastrous year [revenue wise] this year.

 

[mmerlinn]

I hope and pray that things get better in the first quarter [second federal fiscal quarter] because I am quite certain my firm cannot have another disastrous year [revenue wise] this year.

Most likely things will get "better" next year when measured with a rubber yardstick (dollar). Measured in real terms (number of items sold, silver, gold, or some other hard asset) it is unlikely to be better.

My number of calls, and therefore sales, is down, but the dollar value is up as I have been aggressively keeping prices as high as possible to compensate for the value of the rubber money deflating over time.

 

[DoChenRollingBearing]

I too have grave doubts about how things are going to go in 2012.

Our bearing sales in Peru are stable, almost exactly the same total for 2011 vs. 2010. If China runs off the cliff and/or the USA & Europe go into recession, then it will be our turn to suffer.

I agree with you guys that it is hard to see the economy growing in real terms in 2012.

 

[ancona]

DCRB, do you get a big fat per-diem to live in Peru and maintain the Rolling Bearing estate here in the US, or do you have to suck it up and absorb the cost within your pay program?

 

[DoChenRollingBearing]

ancona, we live here in the USA. I help our company in Peru (my wife is Peruvian-American) buy their bearings (from Korea and Japan mostly). Her family manages the company there (bring the bearings through Customs, selling them throughout Peru, customer payments, etc.).

We are large shareowners. We go down there about twice per year, me to work (visit our main customers, talk with our salesmen, make plans, etc.), my wife to visit family and friends.

Alas, almost all of our expenses come out of my pocket.

At my blog there are some articles about Peru. In June I wrote a basic description of our company. July had an article about going down to meet Mr. Maekawa (head of a small Japanese manufacturer). Soon I will put up an article about our recent alarming experience getting our bearings out of Customs as well as putting up some pictures of what 12 pallets of bearings looks like.

EDIT:

"pay program", LOL... Yeah, I wish!