Weekly Wrap

It was a sad week here in Minnesota. During the Minnesota Vikings practice on Monday, Korey Stringer, a 27-year old offensive lineman, suffered a heatstroke and died later that night. The whole state is in mourning. It was a freaky incident due to this un-godly weather we've been having, but it gets you thinking about life and how it can change in a second. It makes the stock market seem so unimportant. But I'll do the Weekly Wrap anyway. (On a side note: Does anyone read this? I'm going to ask that question in the next newsletter, but if you do read this, please post a message or send email and tell us what you like and dislike about our Chicks Eye View format... or about the Market Wraps, or what you'd rather read in this column.)

Back to the weather, it has been horribly hot. Hot enough that if you don't drink twelve bottles of water a day and keep your Oakleys on, even indoor, you're going to keel over. Speaking of Sunglass Designer Oakley (OO) they sliced their earnings projections for the rest of 2001. Seems the people over at the Sunglass Hut have decided not to carry the Oakley brand anymore. Hmm.  I can hardly wait to read Chick Cheryl's upcoming article on billionaire Jim Jannard of Oakley. I wonder if he has gotten into a little tiff with Luxottica (LUX), the owners of the Sunglass Hut, or if it is true that the Hut just wants to sell more of their brands. Do tell Cheryl. (By the way, the whole month of August we are featuring the listees -- Is that a word? -- of the Forbes Richest in our Chicks Eye View. That's worth some feedback to say, "Way to Go Chicks! Sounds interesting!)

What do Purex Laundry Soap, Armour Meats, and Dial Soap have in common? The clock is ticking. The host of that popular new game show, Ann, is about to spew out a snarly comment, so come on, answer!! They are all owned by Dial (DL). Isn't that a weird combo? The Scottsdale Arizona company has decided to put their business on the market and look for a buyer. They feel they'd be better off as part of a larger enterprise.  And if you think those three products make for a weird big picture... picture this: Hanes underwear and Hillshire Farms meats. Ew. Both of these brands are under the Sara Lee umbrella, along with her world famous baked goods. This past week, Sara Lee (SL)  announced that they will beat market analysts estimates, but their fourth quarter sales fell 5.3% due to ridding itself of non-core businesses. By the way, you are by far the weakest link.

Hey, have you seen this new stuff at the drugstore in the nail polish section? It's called Flouride for nails... Fluorex. It comes in this red box and I bought it at Walgreens 'cuz some lady there told me I had to have it. I have never had nails in my entire life until I started slapping on this fluoride night and day, and voila! Long nails. They must be selling a lot of it at Walgreens (WAG), because sales at stores that have been open at least a year have grown 12.8% since July 2000.

I sent my husband and daughter off to Disney World this week. How could I forget to mention that big news? Probably because I'm still so sad about Mr. Stringer. Anyway, Phil and Reide went to Disney World for three days and then are hopping aboard the new Disney Cruise Boat and sailing the open sea for four days. (They stop a bunch of places but I choose to ignore any fun they're having.) When you turn ten in the Housley family, you get to pick anywhere in the U.S. to spend a week with dad. So far, two kids have picked the Disney Land and Sea week. Don't worry, when they turn sixteen, they go with me... to Europe. I'm no dummy.

Disney announced their earnings this past week, and they met the Street's expectations, but again, they do that fancy pro forma way of accounting. As I mentioned yesterday, this pro forma method of reporting your numbers, really frustrates the investor as they creatively make their books look the best they can. So, they way I see it, and this isn't their best way, is, their revenues fell 1% from a year ago, and their profits fell 8%. Ya can't blame the Housley family, who also visited Disney Land in January. Remember? That was the week I had the flu and was puking even without going on the rides.

There was a ton of other news this week, but during the summer we live in a 900 square foot mobile home and I have to get out. (It's okay to call me trailer trash, I am. I have faded bleached hair tied up in a clip, am ten pounds overweight, and I'm sweating like a pig.) Anyway, we don't have air-conditioning and I'm dying in here typing away. I'm going to get myself a Pepsi and head on out to the beach. Did you see that Pepsi (PEP) finally acquired Quaker Oats (OAT)? Maybe I'll bring some Gatorade along with. (People in Minnesota always end sentences with dangling participles. I just spent the night with my high-school girlfriends, and all the danglers left me cracking up. They have no idea they talk like this. Sorry Ann, Lisa, Beth, Vicki, et al.)

Chick Karin