Word: california
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...Buckle benefits from geography (many of its stores are located in small Midwestern locations with little competition), and the company is relatively underexposed to crashing economies like Florida's and Southern California's. Aéropostale has won because of price. So if teens are shopping at cheaper places or permitting their parents to buy clothes from these outlets, does that mean teens, like, get it? Are they fully aware that their summer-job prospects are dim, that their parents' employment prospects may be dimmer and that it's unfair to guilt Mom and Dad into spending money on expensive...
...Alimagham, who recently completed his Masters degree in Middle Eastern Studies at Harvard, says he was born in Tehran and moved to the United States when he was two and a half. From California, Alimagham voted for Moussavi last week, although he says there is a good chance votes in the United States were not counted...
This week, however, the Obama Administration said it was not going to do anything to help California right now, believing that the state should try to get its budget mess in order first. There are good reasons for the Treasury not to rush to California's aid. If it backstops Sacramento, rewarding the state's bad behavior, it would set an example for other states to follow. A nightmare scenario: the Federal Government backs California's loans, which leads to a downgrading of the Treasury's credit rating and the unnerving of the global credit markets. Spooked, the Chinese government...
...addition to its multibillion-dollar deficit, California faces a severe cash-flow crisis and state controller John Chiang warns that the state could run out of money in July. California has the worst credit rating among the 50 states, so its leaders have pressed the Obama Administration and Congress to act as a co-signer on the state's borrowing. As with AIG, California officials argued, the state is too big to fail. "A fiscal meltdown by California ... would surely destabilize the U.S., if not worldwide financial markets," state treasurer Bill Lockyer wrote U.S. Treasury Secretary Timothy Geithner...
...program about a decade ago. But the Obama Administration is changing all that, having directed $1.2 billion to pay for summer jobs for youths. Every state is now flush with stimulus dollars - ranging from about $3 million (in Wyoming, South Dakota and other low-population states) to $186 million (California) - to fund local job programs. Most states have started hiring, and many kids are already in their first weeks of work. The White House estimates that the stimulus money will create 125,000 jobs for low-income youths, though outside experts put the number at up to four times that...