subject: Southridge Capital Looks At The Entertainment And Financial Sectors [print this page] Southridge Capital wrote in an earlier blog about how the US looks stable compared to some of the other regions worldwide.
Over the past week, Southridge Capital saw the stock market had another decline. Plus, Greece replaced Goldman Sachs in the news. Employment numbers for April were released and we liked what we saw. The Labor Department reported that there was an increase in hiring by employers April by 290,000 jobs. In 4 years, that has been the largest increase, plus the fourth straight months of adding jobs.
Job numbers show hiring was spread out over a number of industries, which is great news for the stabilization of the economy.
On Friday Germany backed a $140 million bailout plan for Greece. The European Union also created a package to help stabilize the region and calm worldwide markets. Hopefully, investors will look at the swift actions plans taken by the European community as well US growth and continue to fuel global markets.
The entertainment sector has shown positive numbers here in the US.
The WWE held its main event called WrestleMania in Glendale, Arizona in March. This years? WrestleMania XXVI contributed approximately $28.8 million of revenues, $13.1 million of profit to the WWE on this one event according to the WWE?s press release. This is very impressive for an economy that?s pulling out of a recession.
BoxingNews24.com reported that Floyd Mayweather Jr. vs. Shane Mosley sold about 1.2 million buys on pay-per-view, which would make this the largest fight so far this year. We are positive these numbers would increase tremendously if Floyd Mayweather Jr and Pacquiao signed a contract.
The big screen is also seeing their share of profits. The 7th largest opening screening in history was reported on May 7th with Iron Man 2 pulling in more $50 million in ticket sales. IMDB.com has documented that over $747 million has been earned by Avatar in US sales since it was released.
In golf news Callaway saw an increase in sales of 7% in the US from the first quarter of last year and a worldwide increase of 11% during the same time frame.
We can see why personal saving rates (a percent of disposable income) decreased a little. American consumers are allocating their money to leisure activities such as sporting events, entertainment event, and shows, which in turn help out everyone.
