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George Chamberlin's Money in the Morning

The absence of sellers remains apparent on Wall Street. Bears tried to take the markets down yesterday with the Dow Industrials falling almost 100 points in early trading. But as the day wore on, the markets rebounded and the Dow finished up 10 points at 11,020. A series of strong 3Q corporate earnings reports have stocks continuing to move higher today with the index now topping 11,100. Fortunately, most Wall Street insiders are still bearish about the markets -- meaning the rally should continue.

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Here's another survey that drives me crazy: The Bloomberg National Poll finds 59 percent of people surveyed say their economic condition has improved recently or are confident it will get better. I'll take that as good news. The same report finds 50 percent of people say they doubt their children will have a better life than they do. That, of course, means 50 percent believe their children will have a better life. So, how was the press release from Bloomberg headlined? You got it: "Americans see children's future dim." I've been around long enough to know that just about every generation believes the ones that follow will have a lower living standard.

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San Diego fares pretty well in a few studies out today. Portfolio.com ranks San Diego number 11 on a list of the top 100 U.S. cities with the highest income growth rates. That's the highest ranking for any California city. El Paso, Texas tops the list, which compares income growth over 25 different time periods.

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San Diego also made the list of America's 10 Greatest Streets, according to the American Planning Association. In particular, the nine blocks on Fifth Avenue between Broadway and Harbor Drive -- often referred to as the Gaslamp Quarter -- "provides a unique pocket of Victorian, Italian Renaissance, and Spanish Revival architecture surrounded by an eclectic mix of contemporary buildings." It goes on to say, "Instead of a cacophony of traffic horns, screeching tires, and accelerating vehicles typically heard downtown, here voices of conversing pedestrians, the music of Latin jazz and live blues, and sidewalk tables being set for restaurant guests fills the air."

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Also, the Stone Brewery in Escondido ranks number six on the list from TripAdvisor.com of the top 10 brewery tours in America. "Travelers seeking a thirst-quenching experience just north of San Diego can enjoy a complimentary, 45-minute guided tour of Stone Brewery -- a 55,000-square-foot working brewery, founded in 1996," says the report. If you're looking for the number one ranked tour, head to St. Louis to take the Anheuser Busch Brewery Tour. However, that tour costs $25.

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Get ready to wait a bit longer for your drink at Starbucks. The WSJ is reporting the company is going to implement a program requiring the baristas to devote more attention to individual drinks. No longer will they be able, for instance, to steam enough milk to prepare multiple drink orders. Each drink will have to be done separately. Since I only drink plain coffee this won't be a problem unless it makes the order lines even longer.

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Did you see the article in The Daily Transcript announcing Valley View Casino has purchased the naming rights for the San Diego Sports Arena? That brought up a great trivia question: Do you remember the name of the company which, for a very brief time about six years ago, also had naming rights for the arena? It was once called the I-Pay-One Center, named after the discount real estate sales company which signed on before the market collapse.

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User Response
1 UserComments
Mary Safley 11:18am October 13, 2010

Good to see George Chamberlin's column. I almost always agree with him. Good level-headed guy.

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