Hidden treasures - reflections

We often forget to search for the bright spots in the midst of a gloomy forecast. It s human nature. But there usually are hidden treasures waiting to be found--if you just look.

In this case, the economy's downturn may not have touched every demographic sector. According to Business Week, consumers in the upper socioeconomic strata are still spending freely on big-ticket luxury items.

This group doesn't typically face a budget crunch, according to Cornell University professor Robert Frank, who was quoted in Business Week. And, interestingly, the terrorist attacks of Sept. 11 may have actually contributed to a buying spree: Many consumers report a philosophy of living as if each day may be their last. The Business Week article noted some areas where these consumers were happily buying. Here are three examples:

* Sales of Porsche 911 Carreras, worth $75,000 and up, are steady at a luxury-car dealership in Coral Gales, Fla.

* Eating, drinking and merrymaking has been a constant theme at an upscale bar and grill in Chicago's financial district.

* Business is brisk at a Harley-Davidson dealership in Lancaster, Calif., where an average sales ticket would ring up at $18,000.

Our builders report the same phenomenon in the buying trends of high-end pools and spas. So, this economic downturn may not mean a negative return for all sectors of any industry.

It obviously pays to look beyond the negative response that is often such an immediate, knee-jerk reaction to bad news.

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COPYRIGHT 2003 Gale Group