California Business Minute™

Hi, I am Tim Johnson and welcome to the California Business Minute.

Consumer Confidence indices continue to drop.  The Conference Board Index
continued to drop with what can best be described as a sharp dive from 87.3
reading in January to 75.0 in February.

The survey showed the confidence of American consumers had slumped to its
lowest level since November 1993, with the exception of polling conducted as
US forces toppled the government of former Iraqi dictator Saddam Hussein five
years ago.

Consumer confidence fell sharply in January following a modest rise in December.
The report illustrated that consumers are pessimistic about the short-term future
and identified that a great proportion expect business conditions and employment
to deteriorate further in the months ahead.

This result is consistent with the University of Michigan’s preliminary index which
fell 10 points to 68.3 for February.  Closer to home, it reflects the latest California
Employee Confidence Index in December. (See Minute 01-29-08 Confidence Wanes)

I am Tim Johnson and this has been the California Business Minute.

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                                                             Bob Slobe
                                                             Businessman
                                                             Philanthropist
                                                             All Around Great Guy