Word: seenes
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Walmart, the world's largest retailer, has seen better days. Yes, profits rose 22%, to $4.63 billion, in the fourth quarter of '09. Even coming out of the Great Recession, many consumers are trading down to shop at the discount superstore. However, for the third straight quarter the store saw negative same-store sales growth; during the last three months of 2009, same-store sales dropped 2%. Overall traffic in Walmart stores was down too. To Walmart executives and investors, this disturbing trend has to be reversed; despite the earnings growth, Walmart's stock fell 1.1% on the day earnings...
...also indicates that a significant swath of American consumers are still hunting for value in the economic rebound, and many of those who "traded down" during the worst of the recession are "staying down." Walmart wants to keep them there. "Over the last few years, we haven't really seen a Walmart initiative that screams 'Price! Price! Price!' says Weinswig. "We're seeing that here." Although the worst of the recession is long over, the American consumer can still use such good news...
...city that has seen two major recessions in the past decade and where the social stigma of failing to get ahead is exacerbated by glaring income inequality, financial hardship is thought to be the root cause of such tragedies. Two years ago, a study co-authored by the University of Hong Kong and the University of Macau found that a deranged sense of compassion was common - parents killed their offspring to spare them from destitution and believed it their right to do so. "We take our children as our property," says Fernando Cheung, former head of the Hong Kong legislature...
...weeks, prompting prosecutors in Moscow to go into damage-control mode. In a statement released March 17, the prosecutor general's office said it had already forced private contractors in Sochi to shell out 1.2 million rubles (about $40,000) in back pay. But Pechorin says he hasn't seen any of the back pay yet, and neither have any of the workers he knows...
...Russia. He even delivered a speech to the International Olympic Committee in English - a first for a Kremlin leader before a Western audience - and promised members that the Sochi Games would be "safe, enjoyable and memorable." He even guaranteed that there would be snow. With the Olympics now seen as Putin's pet project, it may be harder for him to divert the blame if things don't go as planned...