Word: dropping
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...love this Valentine's Day. The economy will likely be joining you down in the dumps. According to a recent study from the National Retail Federation, consumers plan to spend, on average, $102.50 on Valentine's Day gifts this year, down from $122.98 in 2008. That's a 17% drop. Overall, the study projects that Valentine's Day spending will fall 14%, to $14.7 billion, compared with last year. "People are trading down," says George Van Horn, an industry analyst at IBIS World, a research firm that also is predicting a decline in Valentine's Day spending. "This year consumers...
...business pages of the local newspaper look more like the obituaries, no industry is doing well - and that includes green business. Wind and solar manufacturers, starved for credit, are cutting back on projects and laying off workers. Whole Foods, the organic food superstore, has seen its stock price drop more than 70% over the past year, and has cut back on planned expansions. Companies - including Time Inc., which publishes TIME and Time.com - have eliminated their sustainability officers, and the business press seems more concerned with plotting financial panic than with covering the latest green enterprise. (Read TIME's survey...
...exposed. And it will haunt you. As will the deep-fried candy bars, the over-representation of bacon and a ship made entirely of meat that might actually be all the world's heart attacks collected in a bowl. If you're inspired, post your own "nasty goodness," otherwise, drop the cheesecake on a stick and have some broccoli...
...favorite quickie measure of financial journalists - the performance of the stock market - he was a complete flop. The S&P 500 fell almost 5% over the course of the day, with the sharpest drop coming just as Geithner began his speech in the Cash Room of the Treasury Building. (See the worst business deals...
...next big wave of layoffs will begin in the retail industry where there is still too much store capacity to be supported by a moribund consumer. GM has already signaled its intention to cut additional employees and, based on the rate of the drop in its sales, Chrysler will be forced to eviscerate its employment base further...