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...being introduced. It is hard enough to attract new buyers to the car showrooms without having an auctioneer from Sotheby's down the block taking rapid fire bids on Jeeps and Pontiacs. This will just increases the panic that car buyers feel about the reliability of their local dealers. In order to sell newer models, dealers will have to offer deep discounts and incentives to potential buyers. This means that the car companies and the dealers that are allowed to remain open will have to make substantial investments in marketing to get buyers looking for close-out sales to look...

Author: /time Magazine | Title: GM and Chrysler: The Revenge of the Car Dealers | 5/19/2009 | See Source »

...Chrysler did not make a single intelligent move as they told dealers that they would be closed. Customers and potential customers got to learn about what happened to the local GM or Chrysler franchise by reading it in the paper. The two manufacturers may have forgotten that many of the owners of dealerships are community business leaders in their hometowns. They may be a large part of the local tax base. They may go to church with the next twenty people who will buy cars in the town where the dealer is located. (See ten things you should know about...

Author: /time Magazine | Title: GM and Chrysler: The Revenge of the Car Dealers | 5/19/2009 | See Source »

Last week, Schwarzenegger issued a dire warning to voters that if they reject Propositions 1A through 1E, he will recommend severe cuts to education and social services, take back billions from local government and release nearly 20,000 incarcerated illegal immigrants to federal authorities for immediate deportation. "I understand these cuts are very painful," Schwarzenegger said. "This is the harsh reality of the crisis we face. Sacramento is not Washington. We cannot print our own money ... We have to only spend what we have." (Read about the big race to succeed Schwarzenegger...

Author: /time Magazine | Title: Voters Unlikely to Help Calif. Avert Budget Crisis | 5/18/2009 | See Source »

...Benefits of Youth. College grads, treat yourself to a cheap present: The discount student travel agency STA Travel is celebrating 30 years of business, offering travelers a chance to score $30 round-trip tickets to London or Paris. The first 20 customers to visit their local STA Travel branch or call 800-360-9273 on Wednesday, May 20, can get a ticket to London or Paris, departing from New York City, Boston, Washington, D.C., Los Angeles, San Francisco or Seattle. As with any good deal, there are caveats: You must be under 26 or a currently enrolled student to qualify...

Author: /time Magazine | Title: Anniversary Travel Deals, Even If It's Not Yours | 5/18/2009 | See Source »

...point: Uniqlo, the local entry in the segment, seems to be doing just fine. Tadashi Yanai, a cheap-chic guru and head of Fast Retailing, which owns Uniqlo, is now Japan's richest man, according to Forbes magazine. While most retailers are seeing same-store sales drop between 5% and 15%, Uniqlo's same-store sales rose 2.9% for fiscal year 2008 and 12.9% in the six months to February this year. "Uniqlo is the only big winner so far," says Murata of Credit Suisse, who thinks that for non-Japanese fast-fashion companies such as Forever...

Author: /time Magazine | Title: In Japan, Fast Fashion Rules in Slow Times | 5/18/2009 | See Source »

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