By now you're probably aware that Hollywood has chosen to barf up another show it only recently swallowed -- Melrose Place. (Gotta stay thin!) The show, which focuses on life in the Hollywood fast lane, was a huge hit in the 1990s. While fictionalized, I have no doubt that a goodly portion of the show was based on the reality that accompanied 5% unemployment, a surging advertising market and endless consumer spending.Times change, but apparently network execs didn't notice. Based on previews and promotional materials, MP: 2009 appears to ignore 9.7% unemployment, a surging home foreclosure market and a sputtering consumer spending.
But that's why I'm here. I recently too a stroll down to the real Melrose Place and came up with a more apt ad campaign to replace "Tuesday's are a bitch"...
8450 Melrose Place
8459 Melrose Place
650 La Cienega @ Melrose Place
8432 Melrose Place
8422 Melrose Place (closed after only 11 months)
8408 Melrose Place
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In terms of current economic indicators, perhaps it is even more important to note that the unadjusted unemployment rate for Los Angeles County was 11.4% in June 2009. Although June's jobless rate was down slightly from the 11.6% reported in May, Los Angeles County still lost some 13,600 jobs during the month of June. The decline in the unemployment rate in Los Angeles County was largely due to a drop in Los Angeles County residents claiming unemployment benefits; many of those people have simply given up looking for work and are no longer eligible to receive unemployment checks. The fact is that those people still are out of work – the only difference is that now they no longer receive unemployment checks. Likewise, the seasonally adjusted unemployment rate for the entire State of California was 11.6% in June 2009. California is one of 15 states with an unemployment rate topping 10%. Three of these 15 states have unemployment rates even worse than California, led by Michigan, where 15.2% of the state's work force is unemployed.
Eleven of the most populous metropolitan areas are composed of 34 metropolitan divisions, which are essentially separately identifiable employment centers. The two divisions that comprise the Detroit-Warren-Livonia, Michigan, metropolitan area registered the highest jobless rates: (1.) Detroit-Livonia-Dearborn (with a 16.0% unemployment rate) and (2.) Warren-Troy-Farmington Hills (with a 14.1% unemployment rate). The metropolitan divisions with the next highest rates were: (3.) Lawrence-Methuen-Salem, Massachusetts – New Hampshire (with a 12.4% unemployment rate), and (4.) Los Angeles-Long Beach-Glendale, California (with an 11.4% unemployment rate).
With the fourth highest metropolitan unemployment rate in the nation, with the fourth worst state unemployment rate in the United States, and with the City of Los Angeles ranked at # 46 out of 50 for the number of available jobs per capita (only 24 job openings posted for every 1,000 people living in Los Angeles), it should come as no surprise that top studio execs are keeping their golden parachutes, 7-figure bonuses and salaries, while laying off thousands.
I am sure that when no one in middel America watches this idiotic out-of-date spooge, and this tired re-tread is summarily cancelled, the numbskulls who decided to greenlight this putrifaction will be rewarded with major promotions, huge raises and long-term contracts. It is time for Wall Street to wake up and begin digging into the REAL accounting numbers. To quote Gertrude Stein, "There's no there there."
Hooray for Hollywood...
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