Word: consumerized
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But last week, events took a turn for the worse. Negative reports on consumer default rates and troubling statistics on commercial loans unnerved investors. Two moves by Citi - taking $80 billion in risky assets off the auction block and transferring some mortgage-related securities held in an off-balance-sheet...
4. What are the chances we'll have to save Citi yet again? There are still plenty of questions about Citi's long-term health. The government's rescue addresses $306 billion worth of troubled assets from Citi's $2 trillion balance sheet. The bank, though, has roughly another trillion...
Be careful whose gift cards you buy this season. As retailers struggle with recession, debt-laden consumers, unfriendly bankers and declining property values, fewer of them will be around next year. "By the end of 2009, the number of retail players will be down by at least 25% and could...
Hopes for upscale retailers are fading fast. The high-end customer is cutting back spending 9 percentage points more than the overall consumer, according to America's Research Group. One victim of the trend: Saks Fifth Avenue, which saw a devastating 16.6% sales plunge in October, coming on the heels...
Even coordinating national stimulus plans has consisted of little more than leaders agreeing to disagree. On Nov. 24, for example, Britain announced an eye-popping $30 billion plan that aims to borrow and spend its way out of the worst recession to hit the nation in 17 years. Wide-ranging...