Coffee index perks up

Whenever an economy is at an in-between stage - no longer falling but not yet growing - you hear all kinds of nutty indicators that supposedly point to consumers moving in one direction or another. The latest comes from Steven Burd, CEO of Safeway (parents of Vons) who told investors that shoppers are switching from coffee to lattes, and from rotgut wines to the pricier stuff. From the LAT:

Taken together, the two examples of shoppers trading up in their selections "suggests to me, that we're at, or near, the bottom of this whole thing, and that would be good for all of us if that's true," Burd said.

Bear in mind that Safeway still saw earnings decline for the three months ended Sept. 12 compared with a year earlier.