Last-Minute Shoppers Face Dismal Christmas in Tough Year
New York shoppers flocked to stores on the eve of Christmas as retailers reported a flat holiday season with steep discounts and a bleak profit outlook. Analysts forecast November-December sales down 1.5 to 2 percent, the weakest since 1969. Shoppers cited job losses and restrained budgets, with bargains seen as the only lure. Retailers Circuit City and KB Toys filed for bankruptcy protection, signaling deeper trouble for the sector.
MENTIONED IN THIS ARTICLE
New York
C. Britt Beemer
America
Square One
Saugus
Mass
Boston
Wander Caldas
Everett
Caldas
Barbara Rice
Mondawmin Mall
Baltimore
Circuit City Stores Inc
KB Toys
Paige Wallington
Raleigh
N.C
Michael P Niemira
International Council of Shopping Centers
financier linked to Madoff found dead in NYC office
Rene Thierry Magon de la Villehuchet, a 65 year old investor tied to European aristocratic circles, died after an apparent suicide following the Madoff scam. Police say his office door was locked and blood was found near a garbage can. NYU later filed a $24 million loss claim. The autopsy is complete and toxicology results are pending.
MENTIONED IN THIS ARTICLE
New York
Bernard Madoff
Rene-Thierry Magon de la Villehuchet
Madison Avenue
Madoff
de la Villehuchet
NYPD
Paul Browne
Ellen Borakove
New York University
J. Ezra Merkin
Raymond Kelly
Browne
Kelly
Ahmadinejad Hails Christmas Hope in Channel 4 Message
Iran's president delivers a Christmas Day broadcast to Christians on Britain's Channel 4 slamming bullying and expansionist powers while critics condemn the airing. He says Christ would oppose warmongers and urges justice and love for humanity amid tensions with the West over Iran's nuclear program and regional policy. British Jewish groups and other leaders call the program offensive and dangerous.
MENTIONED IN THIS ARTICLE
London
Iran
Jesus
U.S
Mahmoud Ahmadinejad
Britain
Channel 4
Ahmadinejad
Israel
Christ
Tehran
Board of Deputies of
United Kingdom
Henry Grunwald
Ron Proser
Paigner
Peter Tatchell
Robert Mugabe
Jesse Jackson
Sharon Osborne
Marge Simpson
the Simpsons
Maj
Andrew Stockton
Afghanistan
Dorothy Byrne
West
Jobless claims rise as spending falls amid recession
Washington reports initial unemployment claims at 586000 for the week ending December 20, the highest since November 1982, while consumer spending drops 0.6 percent in November. Dow edges up 67 points as GDP pessimism grows, and big layoffs mount at Textron Unisys and Sovereign Bancorp bank unit.
MENTIONED IN THIS ARTICLE
Washington
Labor Department
Commerce Department
Brian Bethune
IHS Global Insight
Wall Street
Textron Inc
Unisys Corp
Sovereign Bancorp Inc
Also Mentioned on This Page
Donyal Rice
Ake
St. Grigor
Majlis
N.Y
Madoffi
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