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...back-to-school clothing, supplies and gadgets will be pretty sad souls too. According the National Retail Federation, the average family with K-12 students will spend $548.72 on school merchandise, a 7.7% decline from 2008. Britt Beemer, founder and chairman of America's Research Group, a retail consulting firm, predicts spending will drop from 8.5% to 12.5% this year, compared with a 5% fall last year. "In my 30 years of tracking this, we've never seen two straight year of declines," says Beemer. "It's pretty...
Officer, a regular contributor to TIME.com, just began working at a Chicago-based proprietary trading firm...
...ephemeral. Part of the reason China's stock market has soared is that Chinese companies have received so much cheap financing that they have dumped proceeds into the equity market for lack of better alternatives. Andrew Barber, Asia strategist at Research Edge, a New Haven, Conn., investment-research firm, estimates that up to 30% of new bank lending this year has wound its way into equities. Why isn't the money going into new businesses? The evidence suggests that in key parts of the economy growth remains anemic, particularly the important export-manufacturing sector, which continues to suffer from...
Think you should haggle only when buying a car or shopping in the streets of Morocco? In this recession, if you're not bargaining for everything everywhere, you're needlessly draining your wallet. According to the consulting firm America's Research Group, in October, 56% of consumers said they had recently tried to negotiate at retail outlets other than car dealerships. Of those hagglers, 50% got deals. When the company repeated the survey in May, 72% of consumers said they had tried to haggle, and a stunning 80% were successful. "What you can do today is unbelievable," says Herb Cohen...
Easy enough for policy analysts to say, but not for a President. "A lot of people are going to be putting immense pressure on President Obama to set a deadline and take firm action," says Sick. The Administration may have no good options beyond continuing to explore diplomacy, he warns, but "it's extraordinarily difficult to sell that to a chorus of people shouting 'Do something...