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...Take the Asian financial crisis of 1997. In South Korea, the biggest corporate failure - the collapse of the humungous Daewoo Group - happened two years after the onset of the crisis, when healthy economic growth had already returned. The crisis had undermined the fundamental willingness of a reformed banking sector and reform-minded government to continue backing the country's bloated and financially irresponsible companies. Daewoo's problems originated before the Asian crisis, but they only exploded after the crisis...
...Black Friday alone, preliminary figures indicate that sales rose a modest 0.5%, to $10.66 billion from $10.6 billion a year ago, according to ShopperTrak, a research firm that tracks activity at more than 50,000 retail outlets. Sales fluctuated by region, with the West scoring the biggest increase at 4.7%. This was followed by the Midwest, where sales rose 1.3%, and the South, which posted a 0.6% gain. The Northeast took the biggest hit, with sales tumbling 4.9%. ShopperTrak co-founder Bill Martin reiterated his earlier projection of a 1.6% sales increase for 2009's holiday season...
...looking at an auspicious start or negative perception in the consumer psyche" after seeing Black Friday's heavy traffic, he says. "But the biggest question is, Will they have the momentum to keep this going...
...Faces! New Ideas! After Berlusconi, Mara Carfagna is Italy's biggest politico-celebrity. At a September conference in Cortina of Berlusconi's party, fans thronged to pose with the Equal Opportunities Minister as their friends clicked away furiously on digital cameras. "There is only one person in Italy who has had the courage to put young people and women in politics," said Carfagna. "Thank you, Berlusconi!" Where his opponents sneer at Carfagna's appointment as a crude appeal to Italy's libido, Berlusconiani see it as a democratizing act in a country that's been run by old men. "Carfagna...
...biggest insight to come from Black Friday sales data will be changes in shopper behavior. People may be getting more time to find deals this year, but there are fewer big deals to find - the 75% to 80% markdowns seen during last year's holiday season are now rare. Retailers purchased up to 20% less inventory this year in anticipation of slower sales, so they're not under the gun to slash prices to clear inventory - at least...