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Current Economic Conditions Federal Reserve District Federal Reserve Bank of Minneapolis 45 pages...
...Agriculture and Construction: Blame Mother Nature, not the economy, for delayed harvests in the Richmond, Chicago and Minneapolis Districts, all of which experienced unusually wet weather. Corn farmers in the Midwest are still feeling the aftershock of a Nov. 1 bankruptcy in South Dakota (one of the nation's largest ethanol producrs). A global drop in cotton demand hurt the region's cotton farmers, who saw both a decline in prices and one of the smallest harvests in 25 years. Homebuilders in the Sixth District, which includes Alabama, Florida and Georgia, noted historically high inventory numbers, despite Florida's modest...
...layaway programs for people unwilling or unable to buy on credit. A large chain near New York credited the region's unseasonably cold weather for relatively decent sales of outdoor and winter apparel in November, while the only retailer to report an increase in sales in the Fourth District, which includes Ohio and Kentucky, was a national discount chain. A domestic car dealer in West Virginia told the Fed his average sales have gone from 250 cars per month to just six in November...
Hugo Boss is the most recent big name to make its mark in New York City's Meatpacking District. The newly opened store's concept?to have all Hugo Boss labels displayed under one roof?is a first for the global brand. Distinctive design features include a complex lighting system that reacts to the weather and time of day, and a lattice-like structure that arches above the length of the store...
ISTANBUL Park Hyatt This new hotel, with interiors by Randy Gerner, is situated in the Maçka Palace, one of Istanbul's architectural wonders, in the Nisantasi district...