Thursday, January 8, 2009

Signs of hard times (contd)

Statistics don't tell the story of economic slumps very well.
Better to point to concrete examples--such as today's news that Macy's is closing 11 stores nationally.

Macy's--so long a retail giant. But they too are hurting.
They join Circuit City--remember?

UPDATE: here's more evidence--holiday retail sales this year were very disappointing; and Walgreens too is cutting back, lopping off 1000 jobs in the coming days.