Word: retailing
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...Citigroup, Eugene McQuade is running the bank's North American retail-banking operations. McQuade was formerly the head of Merrill's banking operations - a considerably smaller job than the one he has at Citi. Investment banks Jefferies and recent upstart Moelis & Co. have also picked up former top Merrill Lynch bankers. (See the top 10 financial collapses...
...surprises, I said; even our routines already supply plenty of those. No extravagance: we're still in a recession. When I read about Naomi Campbell's $1.8 million party at a seven-star hotel in Dubai (still wasn't enough to save the local economy), or the British retail tycoon who marked his 55th by sending his guests a travel wallet with instructions to meet at a London airport and clear their calendar for five days, I'm not impressed; I'm exhausted. I count it as a gift to have reached an age at which I am content...
...Amazon's sales grew 42% in the fourth quarter, outpacing e-commerce in general, which rose 5% to 10%, according to Colin Sebastian, senior research analyst at Lazard Capital Markets. "Amazon has emerged as the Walmart of the online retail world," says Sebastian...
...about 18%, notes Davidowitz. "We're not adding jobs, we're losing jobs," he says. Davidowitz is predicting a double-dip recession, and if that happens, he sees little improvement in job growth, the credit markets or consumer confidence in 2010. "I don't see any increase [in retail sales] this year. However, he expects value retailers, such as Walmart, Kohl's, Target, TJX, Ross and Costco, as well as certain specialty stores, such as Bed, Bath & Beyond and Urban Outfitters, to see higher-than-average sales growth...
...After the excitement, head to the nearby Osh Bazaar for some retail therapy. There, traders from the conservative south of the country, as well as neighboring Uzbekistan, sell fake Armani T-shirts, cell phones and pirated DVDs, as well as carpets, the occasional komuz (a guitar-like instrument) and rows of kolpak (traditional felt hats...