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CNBC Suggests 'Dry Cleaner Economic Index'

Ian P. Murphy |

CNBC correspondent Jane Wells said that drycleaners could be the source of a new economic index in a blog post Friday — at least in Southern California, where the entertainment writers' strike and flagging real estate market are hurting demand for all kinds of services.
“After all, what's the first thing you stop spending money on when you need to cut back on expenses?” she asks in Funny Business with Jane Wells, a pop-tinged take on business news. “And in Southern California, a lot of people are having to cut back.”
Wells interviews Michael Shader, operator of Milt & Edie’s in Burbank, who says that the writer’s strike is having a ripple effect on his business by cutting or eliminating the paychecks of actors and others in the entertainment industry.
Layoffs at mortgage providers and realtors are contributing to a substantial decline in business, adds Mark Adler, operator of North Ranch Cleaners in Thousand Oaks. To read the full story, click here.

About the author

Ian P. Murphy

American Drycleaner

Ian P. Murphy is a freelance writer based in Chicago, and was the editor of American Drycleaner from 1999 to 2011.

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