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...BATHING APE's beginnings: "Rewind to the Tokyo of the early 1990s. The asset price bubble that fueled the excesses of the previous decade had just collapsed, and the recession that followed in its wake had an instantaneous and crippling effect on cultural production. In fashion and its allied trades, the contraction in the economy forced an untimely end to the "Designer Boom" that defined the Tokyo high street for much of the 1980s ... [But in Harajuku], a tentative sense of revival was afoot. In its warren of side-streets, ancient storefronts and crumbling housing complexes, a scrappy group...

Author: /time Magazine | Title: A Bathing Ape | 12/1/2008 | See Source »

That's because companies with shareholders' interests at heart typically close their funds before they get too big and unmanageable. Yet with the price of stocks plummeting and an onslaught of investors asking for their money back, many funds aren't nearly the size they once were - so they're taking on fresh investors. A number of portfolio managers, especially the value-conscious sort, are also seeing cheap stocks all over the place and want extra money to buy in. One of the reasons Longleaf Partners reopened earlier this year was that its managers had identified some $1.5 billion worth...

Author: /time Magazine | Title: Exclusive Mutual Funds Reopen for Business | 12/1/2008 | See Source »

...result, people are trading down in the stores they frequent and the number of items they buy. Case in point: the most popular product seen on BlackFriday.info's shopping lists was Wal-Mart's Batman and Spider-Man pajama sets, requested on more than 10,000 lists. The price: a mere...

Author: /time Magazine | Title: It's Cyber Monday. Will E-Retailers Have a Letdown? | 12/1/2008 | See Source »

...performing sectors of the day, with bank stocks dropping more than 17% on average. Shares of Citigroup, Merrill Lynch, Bank of America and Wachovia all fell more than 20%, largely erasing last week's financial-stock rally. Shares of oil companies fell sharply as well on Monday, as the price of crude sank to $49.28 per barrel, a decline of more than 9%. (See the Top 10 Wall Street Meltdowns...

Author: /time Magazine | Title: The Recession Is Made Official — and Stocks Take a Dive | 12/1/2008 | See Source »

Meanwhile, a National Retail Federation survey showing a 7.2% increase in Thanksgiving-weekend retail spending vs. the year before failed to convince skeptics on Wall Street who still expect a dismal holiday shopping season overall. Even though Thanksgiving sales were stronger than many expected, the steep price markdowns did not augur well for retailer profitability...

Author: /time Magazine | Title: The Recession Is Made Official — and Stocks Take a Dive | 12/1/2008 | See Source »

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