Word: retailing
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...Samuel Taylor Coleridge: "In Xanadu did Kubla Khan/ A stately pleasure-dome decree." It's also the name of a ridiculous 1980 Olivia Newton-John movie involving roller-skating muses and disco. Slated to open in August, Xanadu, a wannabe shopping paradise, will be a 2.4 million-sq.-ft. retail and entertainment complex located 3½ miles from the Empire State Building, across the Hudson River at the intersection of the New Jersey Turnpike and two heavily trafficked state roads through which 88 million vehicles pass each year...
...tacky exterior: the doors will open smack in the middle of the worst recession since the Great Depression. Malls are suffering a slow, painful death. The International Council of Shopping Centers (ICSC) has predicted that 73,000 stores will close their doors during the first half of 2009. Retail expert Burt Flickinger III, managing director of Strategic Resources Group, projects that 2,000 to 3,000 shopping malls and centers nationwide could go under this year. If Xanadu - which allegedly has leased 73% of its space thus far - does open in 2009, it would be the only enclosed mall...
...1990s, retail advertising began to fall off because, the thinking went, modern businesses wanted broadsheet displays, not shrunken tabloid pages. Reporting talent - disgusted with the paper's draconian management - came and went. The Rocky cut back its statewide coverage and pretty much ignored Colorado's burgeoning Hispanic and newcomer populations. The paper also committed the ultimate sin in journalism: it was boring. What did Scripps do? Reduce subscription prices, mount a few lame marketing campaigns and change the paper's name to the Denver Rocky Mountain News...
...aided by the calculus of workforce filled with a huge number of people who are willing to work for much less than what they were paid in their former jobs and are often overqualified for most new positions they might find. Investment bankers actually do look for work as retail store clerks if they need the money enough. Unfortunately, no company in the retail industry will hire a soul until the next holiday season...
...service. That act of defiance means the Encore is a pretty astonishing value for any visitors in the mood to treat themselves to a Las Vegas fling in these tough times. The $2 billion, 2,034-room project adjoins the Wynn - the hotels are connected by a retail alley - completing Steve Wynn's most recent move to reposition the Las Vegas mind-set. The man who brought you exploding volcanoes (the Mirage), pirate ships (Treasure Island) and over-the-top light shows, not to mention a zillion dollars' worth of fine art (the Bellagio) has now fully assembled his antidote...