Word: michigans
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...annual sales. But consumer confidence has plummeted as Americans get squeezed by a housing crisis, rising unemployment rates, high food and gas prices, and a stock-market meltdown. Nine in 10 consumers believe the economy is in a recession, according to the most recent report of the University of Michigan Survey of Consumers. The barrage of bad news surrounding the $700 billion congressional bailout appears to have had a significant effect on shoppers' outlooks. At the end of September, 79% of consumers said they were expecting bad economic times in the year ahead, up from 57% in early September...
...According to the University of Michigan survey, one-third of consumers cited fears over job security and income level as reasons for delaying purchases of household items including furniture and appliances. Jennifer Barrow, a writer for the TV show King of the Hill, says her extended family is considering limiting all Christmas gifts to $25 and may skip presents for adults. "While the financial crisis has not hit me personally, I am concerned," says the Burbank, Calif., single mother. "I am definitely trying to follow a budget for the first time and rein in spending...
...Last week, the McCain campaign reacted to a polling downturn by shuttering its operation in the state of Michigan and redistributing staff to Pennsylvania, Wisconsin and Maine, where electoral votes are distributed by congressional district. In a conference call last week, Mike DuHaime, the McCain campaign's political director, acknowledged that the national mood and Obama's deep pockets had put previously solid Republican states like Indiana in play...
...DuHaime, who is considered one of the brightest lights in Republican campaign management, finds himself playing the same role for a different candidate. "We feel good about things," DuHaime told reporters late last week in a conference call after the McCain campaign decided to dismantle its Michigan operation, where it trails Barack Obama in the polls. He said he remained "confident" about a Florida win by McCain, not to mention a Republican victory in once reliable states like Virginia and North Carolina...
...shifting back to Obama in public polls. Other Bush states, like New Mexico and Iowa, appear to have moved safely into the Obama column. In recent days, party leaders in Florida and Virginia have voiced their concern about the trajectory of the race in their states, while Michigan activists voiced bewilderment and frustration that McCain was already giving up on the battleground state...