Word: retailing
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...European retailers sure didn't have a holly jolly Christmas. The annual end-of-year shopping orgy can account for as much as 40% of a retailer's annual sales, but most of the tallying so far has left the big stores crying "Bah, humbug." And the bad news kicked in even earlier. British supermarket chain J Sainsbury last week said its same-store sales, excluding gasoline, fell 1.2% in the third quarter. Two months earlier, the company had declared a $72.5 million pretax loss for the first half - the first loss in its 135-year history...
...want to go to college could go to the Goodyear plant and buy a house and support a wife and family," says Steve Hamilton of Cornell University's Youth and Work Program. "That doesn't happen anymore." Instead, high school grads are more likely to end up in retail jobs with low pay and minimal benefits, if any. From this end of the social pyramid, Arnett's vision of emerging adulthood as a playground of self-discovery seems a little rosy. The rules have changed, and not in the twixters' favor...
What's more, video-game makers and retailers have vowed to fight Blagojevich's plan. "We will oppose it," says Doug Lowenstein, president of the Entertainment Software Association, a trade group representing 25 major gaming companies. "The state of Illinois should not dictate the choices parents make," says Lowenstein, who believes that the industry should continue to regulate itself. In fact, some retailers are making an effort to crack down. David Vite, president of the Illinois Retail Merchants Association, says big stores like Target have locking registers that do not permit video-game transactions until a buyer's date...
...Tower, it's about the ancient poetic desire to reach the sky." And even sometimes to reach it by pretzeled means. Twelve years ago, the very visionary architect Peter Eisenman was commissioned to design a showcase building for the recently unified Berlin, a combination of offices and hotel and retail space to be called the Max Reinhardt Haus, after the also very visionary German theater producer. For inspiration, Eisenman turned to nothing less than the Möbius strip, the 3-D geometric form produced by a single twisted surface. Had it been completed, his 34-story tower would have folded...
...bank's IT management in-house and initiated a risk-management review, while instilling his relentless bottom-line ethic throughout the business. It may take some time for Dimon to deliver the promised $3 billion of annual cost savings from the merger. But by melding his old bank's retail, credit-card and small-business strengths with JPMorgan Chase's investment-banking and asset-management prowess, Dimon has turned what some called Citigroup West into a colossus that can give Citi, as Dimon says, "a run for its money...