David Orr Quotations

We're getting a flip with these numbers, ... We had been seeing all year long the consumer doing well and the manufacturing sector doing poorly. Here, consumer confidence has fallen, but there's a hint of the manufacturing sector stabilizing.

Several forecasters have recently indicated they believe the U.S. economy is already in recession,

But that's if economic conditions become far worse than they are now, ... It's a bit like saying 'if the sun doesn't come up tomorrow then crops will fail,' or 'the world may end if it gets hit by a meteor.'

Given that the Fed has indicated this is a key number, that's very hopeful,

He has been very committed. He came onto the team as a freshman and has steadily improved. He aspires to run at the collegiate level.

He has been very committed, ... He came onto the team as a freshman and has steadily improved. He aspires to run at the collegiate level.

It is a complicated for the judges to administer. It should be an easier system for our voters to use.

People have been saying shelter, shelter, shelter but there is no point having a tent if you are cold and hungry inside.

I still think there's a better than 50-50 chance they will raise rates again.

We are in the second half of the season, and he needs a bit more speed.

The data reflect that main concern that Mr. Greenspan has voiced in his recent comments, i.e., that with labor markets this tight, there is a real risk that compensation costs will accelerate faster than the ability of productivity gains to offset those costs, thus boosting unit labor costs and thereby generating price increases,

The data is squarely at odds with the anecdotal evidence one gets from those in the industry,

The fact that the boom is ending should not be interpreted as indicating any serious trouble for builders or realtors -- unless, of course, some overextended on debt in expectations that sales would continue to accelerate, ... Prior to the recent explosion in sales, a level of 700,000 had been considered very strong. The current trend should be viewed as a return to normalcy rather than as the beginning of a housing recession.

We're looking at an innovative non-standard way to float the company, that may involve giving existing shareholders priority in any offering. We're not ruling anything out.

This report may modestly lower third-quarter real GDP estimates,

While the monthly data is often erratic and the government statisticians warn that it takes four months to establish a change in trend, it is pretty clear from the top chart that the explosion in housing from 1997 through early 2000 is ending.

As is evident, a clear deceleration appears to be underway. The gain was not large enough to recoup the 13.1% month-over-month decline in July.

As is evident, a clear deceleration appears to be underway, ... The gain was not large enough to recoup the 13.1% month-over-month decline in July.

(Fed Chairman Alan) Greenspan thinks consumer confidence is important, and if he thinks so I guess we should think so,

Things obviously got away from them. But by acting in such dramatic fashion, the Fed sent a loud signal to participants in both the financial and the business sectors that the Fed will fight the threat of recession as vigorously as it fought the threat of inflation.

The soap opera will continue. I wouldn't take them off stage altogether as some people are doing.

There's definitely that possibility, although one of the things the Fed wants to get away from is slavishly bowing to that lather, ... I'm still expecting a quarter point cut. There's a concern by some members of the Fed that they risk over stimulating the economy. And if you keep making half-point cuts, you'll run out of bullets pretty quickly.

It's like the kid doesn't want to take any medicine, but it's good for him, ... It's a little medicine now versus a lot of bad medicine later.

It seemed serious that he fired bullets into the trailer. One had gone clear through the other side.

Not bad, but less than the 18 percent (annual rate of growth) in the second quarter and 26 percent (rate) in the first quarter.

It will no doubt buoy forecasters who see the recent slowdown in the economy as a temporary affair -- which includes the Fed,

They decided they were going to go and get some revenge.

These numbers are as close to perfect as you can get from a Fed point of view.

The Fed did not lower the fed funds rate, but their statement indicates a 180 degree about-face in terms of their view of the risks facing the economy, ... It looks to me they're ready to do what they have to do when they have to do it. They just aren't exactly sure when they have to do it.

The fear is that landslides will further hamper our operations,

Initially, we estimated the number of people in need was about one million and we had reached about 50 percent of them. We've had a food security team in the field and they've revised the estimate up quite dramatically.

Importantly, on a year-over-year basis, the core CPI continued to inch higher,

In our view, current financial market psychology is under-estimating the negative impact that rising joblessness will have on the housing and motor vehicle markets in the first half of 2002,

In the late 1970s and early 1980s, people were getting 10 percent pay raises. But housing prices were going up 12 to 15 percent, and so were cars.