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The Last Bastion of the U.S. Economy Is In Full Retreat
In previous economic slowdowns, it was always consumer spending that kept the American economy afloat. Millions of Americans continued shopping at malls, buying cars, ordering gadgets through the mail and TV and otherwise putting their wallets and purses on the line. It was always the brave American consumer rushing unto the breach to beat off the demons of economic gloom and uncertainty.
But not this time, it seems. Retail sales have now declined for the sixth straight month.
The U.S. Census Bureau announced that advance estimates of U.S. retail and food services sales for December (adjusted for seasonal variation and holiday and…
15Jan2009 | Oxbury Research | 0 comments | ContinuedGlobal Investing Roundups
Icahn’s Yahoo Victory; XM Gains Listeners; Gloomy Economic Outlook; Crude Gains on Tropical/Political Storms; Hasbro Beats Expectations; Corn Cut Down; Goldman Banker Summoned by Paulson; Union Asks Citi to Break Up Operations
Yahoo! Inc. (YHOO) agreed to give three spots on its board of directors to activist investor Carl Icahn, a vocal opponent of the way current Yahoo management handled a buyout offer from Microsoft Corp. (MSFT). Icahn will fill one board spot himself, while the Yahoo board will select from Icahn’s pre-approved list of nine potential candidates to fill the other two spots, Bloomberg News reported.
XM Satellite Radio Holdings Inc. (XMSR) yesterday…
22Jul2008 | Money Morning | Comments Off | Continued
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