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...Newspapers in Philadelphia reappropriated the phrase in the late 1960s, using it to describe the rush of crowds at stores. The justification came later, tied to accounting balance sheets where black ink would represent a profit. Many see Black Friday as the day retailers go into the black or show a profit for the first time in a given year. The term stuck and spread, and by the 1990s Black Friday became an unofficial retail holiday nationwide. Since 2002, Black Friday has been the season's biggest shopping day each year except 2004, according to market-research firm ShopperTrak...
Eleven months after B. Ramalinga Raju, the former chairman of Hyderabad-based Satyam Computer Services, confessed to masterminding a $1.2 billion fraud at Indias fourth largest I.T. outsourcing company, the dirt is still tumbling out. On Nov. 24, the country's Central Bureau of Investigation (CBI) released findings that show the alleged fraudulent accounting and embezzlement was far larger than originally thought. Raju and nine accomplices skimmed some $2.5 billion from the company, according to CBI investigators, funneling the money into a collection of assets and property that could make even a profligate Bollywood star blush...
...Consumer spending and debt have been on the decline of late, that's true. But the most recent numbers show signs of a return to our old ways. In October, consumer spending rose 0.7% over the previous month, according to the Commerce Department, which is particularly interesting since personal income only edged up 0.2%. It seems it's going to take more than economic calamity for us to realize that perhaps we should be more prudent with our money...
...after an alleged blackmail scheme set off the spiral of embarrassing revelations about his private life. Prosecutors have now opened homicide investigations into the deaths of two people linked to Marrazzo, who was first elected in 2005 after years as host of a popular consumer watchdog talk show on the RAI national TV network. Investigators say Marrazzo is not a suspect in the Nov. 20 arson that killed a Brazilian transgender prostitute known as Brenda, nor the September death of a Rome-based drug dealer named Gianguerino Cafasso that has now been ruled a homicide. But he has connections...
...where is the delivery? I'm not worried. We are aware of our shortcomings. These challenges are based in reality. And that's why we restructured ourselves. This renewal came at the right time to meet these challenges. And it's in how we meet them that we will show how we will be successful. Nevertheless [the protests] say to the government that we had better move. It's a wake up call: Deal with this! Pay serious attention! If we do not deal with these things now, people will lose confidence...