Wikinvest Wire

Pushpin industry thrives in downturn

Tuesday, April 28, 2009

It's hard to argue with this logic about pushpins from the folks at The Onion.

With unemployment at its highest rate in 25 years and countless retirement savings wiped out by the collapse of the stock market, experts say the American pushpin industry may be the lone bright spot in an otherwise bleak financial landscape.

"Everyone knows that when the economy contracts, pushpin sales expand," said Paul Michelson, a pushpin analyst for Wells Fargo. "In uncertain times, they provide a sense of stability to those who just lost their jobs or may be late with their mortgage payments."

Added Michelson, "Pushpins are sharp, rigid, and enable you to attach thin items to the wall. People really gravitate toward that."

In times of prosperity, however, consumers tend to be more interested in high-ticket items such as flat-screen TVs or oil paintings. During economic booms, the pushpins go in the back of the junk drawer until hard times hit again.
I've used pushpins a lot more than usual over the last year. Anyone else?


  © Blogger template Newspaper by 2008

Back to TOP