According to today’s Wall Street Journal, the recession is the longest we have had since World War II. Additionally, the unemployment rate is approaching the peak seen in the 1982-83 recession and the scope of job losses is the worst since the 1948-49 recession. The decline in GDP is the deepest since the 1957-58 downturn, and Americans haven’t seen so much of their wealth evaporate since the Great Depression. Wow…that’s just what we needed to boost our confidence. On the bright side we have seen some real estate firms start bidding (and closing) on some transactions so perhaps by Q1 or Q2 2010 we will finally experience some type of recovery.
Archive for July, 2009
All the Retail news isn’t bad…
July 24th, 2009
Yesterday, Lance Armstrong announced the formation of Team RadioShack a new American pro-cycling team) for 2010 in cooperation with his Livestrong foundation. From the Press Release:
“Teaming up with RadioShack makes sense for a number of reasons. For one, it’s very appealing to me that they have a huge base of stores throughout the U.S. and Mexico. We have an incredible opportunity to leverage RadioShack’s connection to tens of millions of people to spread the LIVESTRONG message,” said Armstrong. “Also, in cycling, the technology we use on our bikes matters – it allows us to compete at the highest level. It’s important to me to partner with a brand that understands the role technology plays in people’s lives.”
Good news for Livestrong and US pro-cycling and also great to see a retailer stepping up in this economy.
New Name for an Icon
July 16th, 2009
Effective today, the Sears Tower is no longer the Sears Tower.
Public relations experts said it could take decades for the new name of the Chicago skyscraper to take its place in the public consciousness.
Will you remember the new name?
It’s also interesting that the article points out that Sears has actually been gone since 1992 but the name stayed behind…
Atlanta Retail
July 6th, 2009
AJC reports that Ben Carter Properties’ Streets of Buckhead project is back on track.
(via Globest)
