Watching a business die

Watches are disappearing. I stopped wearing one years ago, and it seems many other people have as well (using cellphones when they need to know the time).

Last year, the number of people who bought watches not in the Rolex and Patek Philippe stratosphere dropped 12% from 2004, according to a leading market research group. The runaway favorite brand for teens, Fossil Inc. of Texas, acknowledged an 18.6% decline in wholesale U.S. sales of its namesake brand.

Oakley Inc., which is based in Orange County, said watch sales fell 11% last year as it phased out digital watches and styles that weren't selling well.

The article concludes that watches won't disappear (despite my opening sentence and my even more dramatic headline) but will become a fashion statement -- with high-end watches continuing to sell well.