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This spells a bitter disappointment for companies that had hoped the holidays would offset a year when sales have been sliding steadily, draining profits and, in many instances, undermining the ability to pay down debt. The industry already has seen a parade of retailers entering bankruptcy proceedings, such as Circuit City Stores Inc., and liquidating, including Mervyn's LLC and Linens 'N Things Inc. The weak holiday sales mean more chains are likely to follow suit next year.

1 posted on 12/26/2008 5:34:47 PM PST by An Old Man
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To: An Old Man

AHHH, but the sale of global warming “credits” is up! What a way to assuage guilty consciouses!


99 posted on 12/27/2008 5:12:38 AM PST by 2harddrive (...House a TOTAL Loss.....)
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To: An Old Man

Did this guy have anything to do with it:

http://www.revbilly.com/


108 posted on 12/27/2008 6:25:41 AM PST by ninonitti
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To: An Old Man

Maybe I’m missing something but I don’t see how a single digit drop in sales qualifies as a ‘plunge’ in sales.

A 20% drop maybe but 5-8%?
JB


122 posted on 12/27/2008 10:07:12 AM PST by thatjoeguy (Just my thoughts)
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To: An Old Man

Turns out we have been spending our money on things we neither needed nor wanted. Those who have avoided buying a new SUV even though they could afford a new SUV now might find they have more money.

Cars might be important up to a point, but we have buried so much of our wealth in them that we can now drive ourselves to the poorhouse in style. [That’s what they said during the Great Depression, and it is still true.]


128 posted on 12/27/2008 11:02:21 AM PST by RightWhale (We were so young two years ago and the DJIA was 12,000)
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