Didn't see this posted earlier...
Tough times for porn, booze
Even sin isn't secure anymore. Gambling, sex, cigarettes and alcohol are among the supposedly recession-proof businesses hit hard by the economic downturn.
By Michael Brush
MSN Money
In this economy, even the wages of sin aren't what they used to be.
Market lore says people keep spending on sex, booze, butts and slots in hard times, no matter what. Sin is supposedly recession-proof.
But the widespread weakness among so-called sin stocks suggests the downturn has converted a lot of sinners into saints.
Playboy Enterprises (PLA, news, msgs) stock is down about 80% in the past year, twice the 40% decline of the S&P 500 Index ($INX). Casino operator Las Vegas Sands (LVS, news, msgs) is down more than 90%. And alcohol stocks such as Diageo (DEO, news, msgs) and Constellation Brands (STZ, news, msgs) have done little better than the market.
Full article