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There are at least two answers to this question. One is that Americans with money are the kids in the global candy store; they want everything, and they buy everything, laying waste to the environment and helping enact political policies that help the rich get even richer. In this model, rich Americans will never give up their God-given right to buy a hulking new six-burner range even if they never cook...
What retailers do have is employees, and at this point way too many of them. Dillard's (DDS), which is not one of the largest retailers, lost 19% of its same-store sales last month. The company has 33,000 employees which means that it is not much smaller than Chrysler's US car operation. Rite Aid has 4,900 stores and it is in real trouble. If Rite Aid faced bankruptcy it would cause unemployment problems, but it could also trigger a destructive chain of events in the real estate industry by defaulting on store leases at locations...
...themselves up in European city centers; where wars are ignited over lack of drinking water; where a global face-off between Islam and Christianity makes World War II look like a water-balloon fight. According to economist and political scientist Jacques Attali, that is what the future has in store for us by 2025. In the belief that past experiences are indicative future events, Attali combs through the history of human kind, all the way back to Homo Habilis, separating the past into nine distinct periods to isolate "what is possible, what changes and what is unvarying" and applies those...
...teams are very even. We could easily be the top team in the league,” head coach David Fish ’72 said. “It’s topsy-turvy...you never really know what kind of surprises are in store.”HARVARD 5, PENN 2Following the previous day’s loss to Princeton, the Crimson looked to salvage some pride on Saturday in Philadelphia, against a Penn team with only one win in its Ivy League season. With a senior class looking to finish with a flourish, Harvard recorded a morale...
...Chang's and head to either cheaper fast-food joints or the comfort of home. "For Denny's, the core consumers are blue-collar families," says Anton Brenner, restaurant analyst at Roth Capital Partners. "They've been squeezed very hard." In the fourth quarter of 2008, same-store sales dropped 6.1%. Sales fell 3.7% for the year, and the company's stock price, at $2.14 a share, has dropped 30.5% over the past 12 months. "It wasn't a good year for us," Marchioli admits...