Fast Talk

October 1, 2008

Q: Which industry is best shielded from the Wall Street crisis? | posted by Fast Company staff

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21 Total

October 1, 2008 at 10:12am

Andrew Miller
The entertainment industry should thrive as people go to see movies to take their minds off of the economy.

October 1, 2008 at 11:09am

Rip Empson
Agribusiness, the entertainment industry, wine & spirits industry, all in all parts of the tech industry will go unscathed, tobacco and cosmetics as well. And interestingly, the trucking industry. As shipping by rail is limited already and as transporting via air becomes increasingly expensive, the trucking industry may just start booming. Also, I'd say gold (albeit stretching the definition of "industry") is doing just fine.

October 1, 2008 at 12:02pm

Kristen Zatina
I would say the medical industry is best shielded from the Wall Street crisis. Personally, I think it's unfortunate that medicine is not run like a business as I believe that health care professionals are not compensated by the caliber of their performance or the extent of their work ethic but rather reimbursed by how insurance agencies and the government deem appropriate. However, in an instance like this, the demand for medical attention in America will not decrease just because spending money is down across the country. In fact, the demand for medical attention is likely to increase due to the taxation that stress and fear can take on the body and mind. All things considered though, the costs to run a private practice or a hospital will rise considerably with surgical supplies prices, location leasing fees, and other overhead expenses on the climb and since doctors are limited with options for adjusting their service charges, they might experience loss there. Plus, doctors who have been making up for their decreasing paychecks with elective surgeries, i.e. cosmetic touch-ups, will see those patient numbers dropping as a nose job or spider vein removal might be secondary to catching up on mortgage payments in this fragile economy. Further, if the desperately-blood-hungry-type lawyers who are unable to find a good case on a closing-up-shop Wall Street turn to hospitals to maintain payroll by proposing even more ridiculous lawsuits for what they define as "medical mistakes," liability insurance is subject to rise and that is precisely what is causing great doctors all over the country to abbreviate their service offering or even shut down their practices. I guess it turns out that medicine might be hit harder by our economy's current crisis than I orginally thought when I started this posting... Because of this change of thought, let's just say that the industry of sales consulting should be prompted with some opportunities if businesses of all types are being hit hard across the country. With that in mind, this girl, who fell short of med school, will consider herself lucky to work at EntreQuest in our current time of crisis! - Kristen Zatina www.entrequest.com

October 1, 2008 at 1:04pm

Charles Doucet
Looking at the sector indexes for the past month shows that consumer goods are down about 4.9%% compared to Health Care (- 10.9%), Technology (-11%)and Pharmaceuticals (-5.2%). While people will shop for the best bargains in consumer goods (non-durable)I think this sector will hold up through this crisis Charles Doucet

October 1, 2008 at 2:08pm

Stephanie Frasco
Startups

October 1, 2008 at 4:44pm

Bill Barlett
Although it is most exposed, Wall Street and it compatriots in the banking industry are being given a $Trillion "shield" for making bad bets that have paid it $Billions in the past

October 1, 2008 at 6:17pm

Steven Andes
Undertakers

October 1, 2008 at 7:49pm

david wayne osedach
Bio Tech, pharmaceuticals, and cheap foods like Campbells soups!

October 2, 2008 at 9:31am

Dan Phelan
Temporary staffing agencies.

October 2, 2008 at 10:11am

Kyle Jett
Why the alcohol industry of course. Good times or bad they get the best. Its only during the mediocre times that they only coast along. I've seen many a friend complain about how the economy has hurt his billfold while he was sipping on Jack and Coke at the local pub. Also wheres the first place you head when you get that new raise (aside from maybe home) to that same pub to buy everyone a drink.

October 2, 2008 at 12:56pm

Megan DaGata
While I don't believe we will turn into a nation of alcoholics like some, I do know that the brewers and distillers will make a killing. The industries that support this will also do well, that inclludes the importers of the spirits and the distributors. Another sector I know is growing and not on the decline is the trade industry. The customer service related business like Freight Forwarders, Warehousing, and Intermodal businesses. They are growing in leaps and bounds and the increase in fuel and costs of transport are passed on every time you buy anything. They don't have to pay for the increase we do, so as we continue to import more and more the cost of everything will increase more and more.

October 2, 2008 at 2:26pm

Nate Newkirk
The government, of course. Their cash flow is no problem, nor is their payroll money.

October 2, 2008 at 2:35pm

Nate Newkirk
The government, of course. Jobs, salaries and benefits are a given. Too bad we don't require the government to be run like the business it is. John McCain' is calling for a 1% budget cut for all Departments. That tiny cut would be merely business-as-usual by any successful business, in the name of continuous close control of costs. But how much shall we bet that it never is even considered by Congress (read "Democrats")?

October 2, 2008 at 4:17pm

Tom Schulte
The Black Market is the industry best shielded from the financial crisis. It is also the one that is going to grow the largest when the people of the United States allow the Federal government to take over this country. Look at any society that tries to vote itself into prosperity or those taken over by the state. Those systems tax themselves into oblivion. On the way down to hell in a hand basket, the black market is the only one that grows because it is outside of the confiscatory taxation system that a welfare state commands. (Here is some free advice...Get good at understanding how to barter effectively.)

October 2, 2008 at 5:43pm

Guy Dabney
Technology. Specifically web and audio conferencing companies.

October 2, 2008 at 6:11pm

Marsha Getto-Aikens
I believe that the health care industry despite the publicity regarding health care in this country is somewhat, and at times completely, insulated from the roller coaster of our current economic scenario. In addition, assisted living, and retirement communities are showing significant strength and the variety of offerings is impressive. We are living longer and are healthier, thus living arrangements that offer alternative lifestyles for seniors will continue to expand.

October 2, 2008 at 6:12pm

Marsha Getto-Aikens
I believe that the health care industry despite the publicity regarding health care in this country is somewhat, and at times completely, insulated from the roller coaster of our current economic scenario. In addition, assisted living, and retirement communities are showing significant strength and the variety of offerings is impressive. We are living longer and are healthier, thus living arrangements that offer alternative lifestyles for seniors will continue to expand.

October 2, 2008 at 6:12pm

Marsha Getto-Aikens
I believe that the health care industry despite the publicity regarding health care in this country is somewhat, and at times completely, insulated from the roller coaster of our current economic scenario. In addition, assisted living, and retirement communities are showing significant strength and the variety of offerings is impressive. We are living longer and are healthier, thus living arrangements that offer alternative lifestyles for seniors will continue to expand.

October 3, 2008 at 5:20am

Steve McGee
Vice. Close runner-up is weapons manufacturing. Federal Government probably at #3, due to increased employee turn-over (we can hope).

October 3, 2008 at 2:49pm

John Agno
The defense industry since every economic and political crisis tends to be solved by 'going to war.' That's how Germany got out of its WWI depression and the USA got out of its 1930s depression by getting pulled into WWII. It seems focusing on 'one enemy' unites a country into giving its blood, sweat and tears to defeat a targeted enemy.

October 10, 2008 at 1:29pm

Christopher Flett
Anything around senior care, and of course the next step, funerals. Also religious market should hold (books, products, CDs, etc.)