Showbiz took it on the chin

Businesses relying on discretionary income take hit

In the month of trading between July 22 and August 19, the Standard & Poor’s 500 stock index fell a staggering 16.5%. The reasons: Beltway bickering over the debt ceiling, fear of another recession, the downgrading of America’s credit rating, and ongoing debt problems in Europe.

The chart to the right shows how the shares of five media and entertainment companies, each a leader in its industry, performed in that period. Relying on consumers’ discretionary income, most were hit harder than the overall market. The exception, casino resort operator Las Vegas Sands, perhaps because of its majority stakes in three casinos in Macau, part of still-booming China.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Digital News from Variety

Loading