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...management. "They had been unable to move their inventory," says Helen Bulwik of New Market Solutions, a retail consultancy in Oakland, Calif. That backlog left the company paralyzed, unable to buy fresh product or pay off its existing debts. Circuit City still owes $118 million to Hewlett-Packard, its largest vendor, plus $116 million to Samsung and $60 million Sony...
...websites can deliver some good news. At the very least, the Internet should outdo the sidewalk in delivering sales growth: holiday forecasts predict zero to 2.2% overall sales gains for November and December, according to respective estimates by Bain & Co. and the National Retail Federation (NRF), the world's largest retail trade association. By comparison, online retail sales are expected to grow 12%, to $44 billion, according to Forrester Research...
...Stylehive. Such online communities make buyers feel more comfortable opening their wallets. "People are reaching out for like-minded souls," says Wendy Liebman, CEO of WSL Strategic Retail, a New York-based retail consultancy. "Psychologically, it feels better if someone else is buying a product too." Kaboodle, the largest of the 25 or so social shopping sites in existence, lets community members discuss products, give one another shopping advice and receive feedback, like which item makes a better gift. "It's MySpace meets Amazon," says Ken Cassar, analyst at Nielson Online. (See the Top 10 social-networking websites...
...through state, city, and private grants will see significant cuts to the services they provide for the community, ranging from childcare to adult education, according to DHC officials. The Center for Families, a support program that runs educational activities and provides resources for families with young children, suffered the largest direct cut: the Massachusetts Family Network grant, which makes up most of the agency’s current funding, was cut by 21.7 percent, a reduction of over $30,000. Assistant City Manager for Human Services Ellen M. Semonoff predicted that funding prospects would only worsen after likely additional cuts...
...Additionally, Faust warned that the University, one of the largest employers in Massachusetts, will be evaluating its payroll. Compensation costs currently account for almost half of the University’s budget...