Word: carusos
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...such as $200 Hermes scarves and $1,745 Chanel handbags grew a whopping 18% last year, to $30 billion, while sales of general merchandise--everything from toys to towels to T shirts--rose only 4.5%, to $575 billion. "The low end is tapped out," says Merrill Lynch analyst Peter Caruso. Indeed, credit-card delinquencies are at a 10-year high. And feeble sales growth has forced discounters such as Wal-Mart, K Mart and Toys R Us to squeeze pricing until the bottom line hurts; underperforming stores are being forced shut...
...crummy" one, says Ed Yardeni, the chief economist for the C.J. Lawrence securities firm. Consumers are buckling beneath nearly $1 trillion in installment loans--almost twice the level of a decade ago. The average household carries $3,900 in credit-card debt alone. "Consumers are tapped out," says Peter Caruso, who follows retailing for Merrill Lynch. "There is no spending power left." Indeed, the government reported last week that retail sales dipped 0.2% in October compared with the previous month. Even the normally upbeat National Retail Federation expects holiday sales to increase no more than 5% this year, down from...
...DAVID CARUSO Jade, his second shot at cinematic stardom, collapses, leaving him NYPD blue...
...David Caruso should not have left "N.Y.P.D. Blue." His first movie after quitting the wildly-successful, year-old television series was a remake of the 1947 gangster film "Kiss of Death." Nicholas Cage stole the movie from the light-weight Caruso as deftly and totally as Richard Widmark stole the original from the feather-weight Victor Mature. But having your first movie stolen by Nicholas Cage is not such a defeat. If your second movie is "Jade," however then you are in real trouble...
...story (such as it is) focuses on San Fransisco assistant D.A. David Corelli (Caruso), who has had some sort of relationship with Trina Gavin (Linda Fiorentino), noted psychiatrist (right) and wife of Corelli's best friend, Matt Gavin (Chazz Palmintieri), the most powerful defence attorney in the city...