Word: baddings
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...chairman of America's Research Group, a retail consulting firm, predicts spending will drop from 8.5% to 12.5% this year, compared with a 5% fall last year. "In my 30 years of tracking this, we've never seen two straight year of declines," says Beemer. "It's pretty bad...
...course, bad news for retailers is usually good news for consumers, and back-to-school shoppers should expect sweet deals designed to get them in stores. Retailers are still desperate to reverse their fortunes in a down economy. However, consumers shouldn't be as giddy as they were, say, six months ago, when stores were running 70% clearance sales to shed their excess holiday inventory. Stores have wised up a bit and cut inventory levels to match the slack in demand. So while retailers may offer lean discounts, we're beyond the slash-and-burn era. "Consumers are going...
...Brace for impact. The global recession has hit air carriers everywhere, but a sharp decline in passenger numbers is especially bad news for India. With oil prices rising to $73 a barrel, Indian airlines - which carry just 2% of the world's passengers - could sustain more than $2.5 billion in losses this year, accounting for one-fourth of the projected $9 billion in losses for the entire industry, according to the International Air Transport Association. Weighed down by overcapacity, debt and the government's refusal to provide bailouts, Indian carriers are being forced to slash their operations and reduce ticket...
...trips. According to the factory director, the South Koreans were always curious about the quality of North Korean goods, and eagerly bought snacks and souvenirs. Currently, the North buys Chinese chocolate, strips off the wrappers and re-packages it with North Korean labels. But Chinese chocolate is pretty bad. They wanted European chocolate know-how to make something that would impress the South. They were not looking to sell millions of chocolates, just enough to stock a few gift shops...
...minimall that sells clothes and toys on busy Rubaie Street, the main drag of the mixed-sect, middle-class Zayuna neighborhood. Reflecting on the news, Hussam is impressed by the drop in Iraqi fatalities: just 240 deaths in July 2009, an 86% drop from the same month in the bad year of 2007. "It's a large difference," Hussam says. "Better than two years ago." The paint in his restaurant is bright and fresh. Meanwhile, young couples dine while flat-screen TVs blast modern Arabic music videos. It's almost easy to be relaxed. But then my companion and translator...