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...surprisingly, many recent converts to luxury shopping quickly reversed course and went downscale. But what caught retailers off guard was that long-time luxury shoppers grew more frugal, too. The widely publicized bailout of Bear Stearns, the takeout of cash-strapped Merrill Lynch, the government rescue of American International Group, the collapse of Lehman Brothers and the meltdown in the credit markets - all served to rattle the upscale crowd, as many work in the financial industry. Fashionable free-spenders morphed into penny savers...
...fashion houses have taken most of the worst blows, with some, such as Bill Blass, Fortunoff, Christian Lacroix and IT Holding SpA (which owns the Gianfranco Ferre label) either filing for bankruptcy protection or liquidating their assets. Several more, such as Prada, Bulgari, Mariella Burani and Valentino Fashion Group, are treading water under a tidal wave of debt...
...intriguing new paper, published this week in the open-access journal BMC Public Health, not only confirms that acne goes hand in hand with depression and anxiety but further suggests that teens' mental distress may in fact be worsening the condition of their skin. (See pictures of a diverse group of American teens...
...study has some obvious shortcomings, particularly that it relies entirely on self-reports from a self-selected group of respondents. Much more rigorous research needs to be conducted to understand the relationship between mental illness and pimples - as well as the root cause of bad cases of acne. But in the meantime, drug companies might want to start working on a Clearasil-Prozac miracle cream...
...players are there too. Yes, Harvard lost key graduating seniors in the midfield and on the backline, but a debilitating loss it was not. As the class of 2009 exited the stage, the situation appeared to be more of an opportunity than a crisis. Last year’s group of juniors took on an increasingly larger role as the season went on, and the adjustment for the Crimson, which consistently relies on underclassmen, was not anticipated to be a major obstacle. Perhaps what is missing isn’t talent, but something more abstract. Senior leadership and team camaraderie...