Mar 14, 2009
The well known Italian jeweler is being forced to close some stores because of weakening sales. Sales are down over 10%. This is interesting because it shows that were some areas are going down like accessories and jewelry, perfume sales are going up. This could be a sign of the trend where women still shop, but scale down their buying. For example, they pass on getting expensive jewelry and opt instead for cheaper perfumes. This is an interesting development as you will see this happen in other markets across the board where some lower cost items will actually see sales increase during this time.
Mar 06, 2009
This article is interesting because it shows that primary and secondary schools are not immune to layoffs. This is interesting because education is normally viewed as a recession resistant field. In fact, during the Great Depression this was a field on the rise with high school teaching. However, it appears to be mixed now where the big gainers are in areas like higher education and schools and companies that offer unique educations like the Phoenix or those offering GED programs. Ironically, community colleges are actually suffering eventhough their numbers are swelling because their budget is doled out by government funds. As far as primary and secondary education goes, it seems jobs are not safe and we will see more layoffs as the recession continues.
Mar 02, 2009
This article shows the US taxpayers now own 78% stake in AIG. The US government has recently infused another $30 billion into the insurance giant. This is also coming with news that the company’s former CEO is bringing a lawsuit against the company for securities fraud. Another sign for all investors we have not reached the bottom.