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Today is Cyber Monday, the day for shoppers to surf the Web for special deals. As more people feel comfortable making purchases online, Web retailers expect to draw a rising share of holiday purchases. But with the credit crunch and financial meltdown contributing to the massive pullback in spending, will Cyber Monday be an Internet boom or bust? "I would say bust," says Jon Vincent, founder of BlackFriday.info, an online-deal site. Analyst Ken Cassar of Nielsen Online is little more optimistic. "Cyber Monday will likely be disappointing," he says...
...November and December - significantly lower than 2007's growth rate of 19% and below the retail e-commerce growth rate of 9% year to date in 2008. "I don't know that this is the only prediction to go by," says Ried, noting that other firms like Forrester Research expect to see online sales grow about 12% for the holiday. "But a dire prediction from an organization as big as comScore does give retailers pause...
Meanwhile, a National Retail Federation survey showing a 7.2% increase in Thanksgiving-weekend retail spending vs. the year before failed to convince skeptics on Wall Street who still expect a dismal holiday shopping season overall. Even though Thanksgiving sales were stronger than many expected, the steep price markdowns did not augur well for retailer profitability...
...cool air in the summer - and that's not cheap. Oil and gas prices may have declined in recent months - of course, fuel costs in the U.S. have also been historically low, compared to our counterparts in much of Europe - but most experts believe that's only temporary and expect to see significantly higher costs to heat and cool our homes in the future. For poor families, especially those on fixed incomes, a drafty house can eat up a large chunk of their income in the winter. The leakier the home, the more money you're wasting - and the more...
...It’s a good time to be in a union,” he said, before noting that in such a large institution, it would be foolish to expect to avoid firings entirely...