Word: elyria
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Dates: during 2000-2009
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...ELYRIA, Ohio — It was two years ago this summer—the week ending June 22, 2007—that the first intimations of economic crisis hit Wall Street. That week, rumors, and subsequently figures, began to fly regarding a pair of Bear Stearns hedge funds that were heavily invested in complicated debt products...
...transition from Wall Street to Main Street—in Elyria a Main Street on which commercial prosperity long ago gave way to dive bars, used furniture stores, and storefront churches—leaves a bitter taste of a boom that, for many, never...
...search for that shop-till-you drop formula, Wal-Mart is testing one prototype in the middle of Middle America--Elyria, Ohio. Castro-Wright strides into a very un-Wal-Mart-like area that features low, wood-veneer (actually recycled plastic) side counters where towels are displayed. You can actually see over the department, and the sight makes you want to linger; you're not hemmed in by the usual 8-ft.-high (2.5 m) discount-store shelving crammed with merchandise. The assortment--the colors and styles--is broad and deep, even attractive. The prices are killer, natch...
That's the future. For now, getting shoppers to change their habits is difficult. In a store in Secaucus, N.J., 470 miles (750 km) east of Elyria, CEO Scott is looking sternly at a serving platter priced at $24.99 as if it didn't get the memo. Around the pricey platter, lower-cost merchandise has sold briskly, and Scott is seeing evidence that Wal-Mart's attempt to move up the fashion/design/price ladder still has a way to go. It's not clear whether shoppers simply won't buy higher-priced stuff at Wal-Mart or, as happened in apparel...