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...typical luxury consumer has traded in high-priced fashion for quality, durable goods at a lower price, according to a recent report by Bain & Company. As a result, the luxury market is expected to shrink by 10% in 2009, with apparel being hit the hardest. So, when French couturier Christian Lacroix filed for court protection from creditors (similar to Chapter 11 bankruptcy protection in the United States) on May 28, it came as no surprise - especially since the filing was timed to same-store sales comps for May, which for department stores like Neiman Marcus and Saks Fifth Avenue were...

Author: /time Magazine | Title: Fire Sale: Once Towering, the Luxury Market Teeters | 6/7/2009 | See Source »

...present GM Canada has 12,000 hourly and salaried employees, but that number is expected to shrink to about 5,500 over the next couple of years. About 1,100 of the new total is expected to be salaried jobs, which are unrelated to assembly operations. That means Ottawa and the Ontario government are together spending an unprecedented $2.1 million for each assembly job at GM Canada they hope to save...

Author: /time Magazine | Title: Saving GM Canada at Any Price? | 6/1/2009 | See Source »

...complaint of overwork sounds dissonant during a global recession, but it is precisely because of the plunge in global trade that Lee, who works for a ship-supply company, is clocking up so much overtime. The World Trade Organization predicts the volume of global trade will shrink by 9% in 2009, the worst fall since the Great Depression. As a result, a fleet of empty ships lie idly at anchor just outside the territorial waters of Singapore, the world's busiest port. "The pile up of ships in the Straits is a reflection of the collapse in trade until...

Author: /time Magazine | Title: Plunge in Trade Is a Boon for Singapore Ship Suppliers | 5/20/2009 | See Source »

...much of the film, the tone of the two main characters are more or less believable repositories of toxic sadness and perplexed good will. Dafoe's calming, wooing voice (he could rake the Gabriel Byrne role as the sympathetic shrink on HBO's In Treatment) has an effect on everyone but Gainsbourg. The actress's performance will be called daring, because of the sexual intensity in her trysts with Dafoe and a long, nude masturbation scene in the forest. But she's an acute judge of the woman's character in the subtler moments as well. Her face, which resembles...

Author: /time Magazine | Title: Antichrist: Von Trier's Porno Horror Rhapsody | 5/17/2009 | See Source »

...Some professors said that they believe Smith may be interested in reducing the size of the Faculty—a fear confirmed by Smith, who said the Faculty will shrink, as the number of faculty searches falls short of the number of professors set to retire...

Author: By Bonnie J. Kavoussi and Esther I. Yi, CRIMSON STAFF WRITERSS | Title: Wary Professors Eye Next Wave of Cutbacks | 5/13/2009 | See Source »

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