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Posts Tagged ‘Economy’

Economy Down, Shoplifting Way Up, Retail Group Says

Even in these troubled economic times, some groups are thriving  – take organized gangs of shoplifters, for instance.

According to the National Retail Federation’s fifth annual Organized Retail Crime survey, nine out of ten retailers say they’ve been robbed by organized gangs in the last year. And, nearly three-quarters of the stores and restaurants surveyed say the collective thievery is on the rise.

Maybe they should follow Universal Gear’s example and get creative with the crime fighting. Last month, Universal’s owner posted surveillance video from a brazen spree at the 14th Street clothing joint.

 

 

All the publicity from the YouTube posting has really taken a bite out of crime, says Kristopher Johnson, the store’s sales manager. Universal hasn’t had a single group-shoplifting incident since the visuals went online. On the other hand, the police presence at the store has gone way up, says Johnson. (It probably didn’t hurt that the Washington Post ran a Metro-front story about the video.) 

But Johnson doubts YouTube’s crime-fighting abilities over the long haul.

“It’s definitely not a long term solution. But for the last month or so, it’s worked for our store,” he says.

The Recession Will Punish Absurdity

(200 block of West Glebe Road, Alexandria, Dec. 1)

News Flash: Tim and Nina Zagat Bullish on Restaurants

Tim and Nina Zagat, the couple behind the wildly successful Zagat guides, argued yesterday in the Wall Street Journal that the restaurant biz will survive the economic downtown (can we call it a recession yet?). Their argument was forcefully made, based on historical data, tax laws, and social trends. But they overlooked one important factor: the rising cost of ingredients, all sorts of ingredients, from flour to oil.

In other words, people are eating out less often, and restaurateurs are paying higher prices. These two trends cannot coexist without some sort of fall out. Jeffrey Buben, owner and executive chef of Bistro Bis and Vidalia, told me recently, "It's when you have inflation on the other end, that's what clobbers you."

Granted, Buben works the high-end side of the restaurant equation, but rising food costs (not to mention rising rents) affect everyone, not just fine-dining owners. I fear this economic great storm will be much nastier than previous ones, and the Zagats should have addressed it.

Bread & Chocolate: Toast?

The local food boards are starting to light up over a rumor that Bread & Chocolate (and maybe Ben & Jerry's) on Capitol Hill will be closing. I've tried call B&C several times, but the lines are busy, busy, busy! Calls to B&J are rolling straight into voicemail.

More as we know it.

In the meantime, let's recount some of the restaurants that have already died this year: Butterfield 9, David Craig, M'Dawg Haute Dogs, Montsouris, New Orleans Bistro, Colorado Kitchen, Meridian Restaurant, Bistro 123, among many others.

Man, it's getting ugly out there. If you have a favorite restaurant, go there. Now.

But Their Profits are Up!

During the Great Depression, the only two things people could seem to afford were bootleg liquor and Busby Berkley musicals, as both industries saw a rise in sales while the economy plummeted. But did the profits have anything to do with the depression?

The media have been making causal jumps between the economic downturn and the rise in luxury commodities, essentially asserting that these industries are "recession-proof": Amazon sales are up. Consignment sales are up. Cosmetic sales are up.  English coffee sales are up. McDonald's sales are up.

Seems to make sense: during rough economic periods people seek solace in indulgent spending, a type of economic escapism.

But linking rising sales in luxury goods to economic hardship is complete bullshit.

Read More "But Their Profits are Up!" »

Cynical Clinton Thought of the Day

Yet another story detailing Bill Clinton's preference for talking up John McCain over campaigning for Barack Obama:

Former President Bill Clinton was hesitant to characterize Barack Obama as a "great man" Sunday, a phrase he had no qualms using last week to describe Obama's rival John McCain.

Clinton told NBC's Tom Brokaw that it was only earlier this month in Harlem that he and Obama had their "first conversation." He said he had spoken with Obama before, but only in passing.

Clinton then explained what he meant in characterizing McCain as a "great man."

"I think his greatness is that he keeps trying to come back to service without ever asking people to cut him any slack or feel sorry for him or any of that stuff because he was a POW," Clinton said of the Republican presidential nominee.

What is the matter with this guy? It's like he's a pathological self-saboteur. And then some obvious possibilities reared their jaded heads: If Obama wins in November and has an effective presidency, he'll seek re-election, which would put eight years between Hillary and the White House. If Obama wins in November but taxes us into a recession, Republicans will have an easier time in 2012. But! If McCain wins in November and implements his disastrous defense policies (or OD's on Viagra--either way, he's a one-term guy), Hillary will be poised for a comeback in 2012. (Sarah Palin has about as much chance of going from VP to just "P" in 2012 as Dan Quayle did in 2000--er, '94.)

I'm sure this type of conjecture is/has been floating around the InterTubez, I'm just waiting for an MSM person to hit Clinton with it straight up.

Also, thinking like a pollster pickles my innards.

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