Word: majors
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...next venerable institution to fall victim to the financial crisis could be Santa Claus. Retailers are bracing for a holiday shopping season that is shaping up to be the worst in recent memory, as debt-ridden consumers cut back spending amid rising fears that the U.S. is in a major recession...
...usually resilient retail sectors like luxury goods expected to be unscathed. The collapse of major banks and Wall Street firms means thousands of wealthy consumers are faced with vanishing annual bonuses at best and job losses at worst. "Even in a down economy like last year, the luxury market tended to be recession-proof," says Krugman of the NRF. "But Wall Street workers were hit the hardest, and they make up the core customers of the luxury market, especially in New York City...
...about 30 minutes on Tuesday, the Dow Jones Industrial Index gained back close to half of yesterday's loss, which included the biggest point drops in more than 20 years for most of the world's major stock indices. But investors could not look past the struggling U.S. financial sector, nor the overleveraged European banks. Very quickly, they sent the Dow on a day-long 500 point plunge - with it and the S&P 500 hitting five-year lows...
...first, I was like, 'Oh, man, I hope no one sees me here, it's embarrassing,'" says Jessica Makolin, 21, an advertising major who will graduate from Michigan State in December. Makolin says she eventually grew more comfortable patronizing Michigan State's Student Food Bank, the only food bank in the nation run for students by students. The Lansing organization experienced a nearly 15% increase in traffic this past school year, with the number of visits topping out at more than 4,000 in 2007-2008. Students' need for food assistance is on the rise around the country. For example...
...this posturing comes as the candidates face only two remaining major events before Election Day: a presidential debate Tuesday in Tennessee and a joint forum on Oct. 15 in New York. In the meantime, no matter what the poll numbers show, campaign aides like DuHaime will be forced to talk up their optimism going into the final days. Last Thursday, McCain senior adviser Greg Strimple tried to highlight the fact that Obama too has had to pare down his initial goals for the election. "Obama started off with a 50-state strategy," Strimple said. "We've seen him pull...