It’s time once again to visit Neopia’s leading economic experts. Joining our hosts today will be Hugh McKougra, President of The National Neopian Bank. He’ll be here to discuss the effects of a strengthening Neopian economy. And now, here are Neil and Maria…
KAUVUTO: Hello and thank you for joining us this week at The Neo-Market Report. I am your host Neil Kauvuto, and as always I am joined by my co-host, the one and only Maria Blumaroono, who comes to us from the floor of the exchange with all the latest news. Maria, what’s the story today?
BLUMAROONO: Well Neil, ever since tensions between Neopia and the pirates of Krawk Island began to ease, the Neopian economy has gradually gotten back on track. With the threat of a conflict against the pirates practically eliminated, Neopians from Kiko Lake to The Haunted Woods have returned to the business of reviving our faltering economy. This week, nearly every company on The Big Board rebounded to post strong earnings, resulting in a 153-point rise for the Neodaq index.
Among those leading the way was manufacturing giant Powlex, whose stocks rose 14 NPs a share. Apparently, a statement made by the company’s president at a shareholders’ meeting this week caused the surge. According to the president of Powlex, the company expects a 5% increase in profits for this quarter.
Another company who turned good news into a jump in earnings was Böda Furnishings, who held a press conference Tuesday announcing that the company had finally recovered from the fire that had destroyed their entire line of Lost Desert Furniture. When speaking of his company’s recovery, Böda President Sven the Eyrie said, “Well, it’s been a long road to get back to where we were, and we realise that there’s still plenty of work to do, but we understand that things could be a lot worse.”
KAUVUTO: However, not everyone has been swept up in this latest Bull Market. One company still in dire financial straits is The Neopian Auction House, whose attempt to auction off paintings by Old Master Leonardo Da Mynci failed to turn up many bids. When asked about the auction’s failure to generate much interest, Neopian Auction House Chairman John Blumarion said, “To be honest with you, I was kind of afraid this would happen. Usually during an economic rebound, the auction houses are last in line to enjoy the prosperity. But I’m sure that in a few months, once Neopians are ready to spend their NP on luxury items, we’ll be flushed with offers.”
BLUMAROONO: Well, one company who is prospering today is that of our guest. As President of The National Neopian Bank, Hugh McKougra has seen both good times and bad. Now, with the bank enjoying renewed success, he’s been gracious enough to join us here at The Neo-Market Report. Hugh, thanks for coming by again…
HUGH: Thanks for having me back.
BLUMAROONO: First, tell us about this upturn in the market. What do you attribute it to, and how long do you think it’ll last?
HUGH: Maria, I think you guys hit it on the head earlier. I think Neopians are just ready to stop worrying about all this pirate business and get back to work. I mean, the pirates have been here a few weeks, and it doesn’t appear as if they harbour any sort of ill will towards the rest of Neopia. As far as how long I expect it to last, that’s a much more difficult question. There are lots of factors involved; interest rates, inflation… consumer confidence, and so on. With that said, I’d like to add I have every confidence in Chairman Grundospeck. I’m sure he’ll lead us in the right direction and help us to sustain this new prosperity for the duration of the foreseeable future.
KAUVUTO: One factor that you mentioned is interest rates. With some analysts saying that this recent prosperity is a case of “too much, too soon” do you think there’s any chance Chairman Grundospeck might raise interest rates as a way of leveling out this sudden surge in the market?
HUGH: To be honest with you, Neil, I certainly hope there isn’t a hike in the interest rates. However, the chairman doesn’t tell me how to do my job, so I don’t think it’d be right for me to try and suggest what he should do in this situation. Whatever decision the chairman makes, I’m sure it’ll be the right one.
BLUMAROONO: Well, that’s all the time we have for today. For Hugh McKougra and Neil Kauvuto, this is Maria Blumaroono saying thank you and so long….