Maybe miracles happen on 34th, but the economy is still resting its head on 115, and it’s starting to show in more ways then the scratchy, quel-horreurs-this-is-NOT-Frette linens and polyester-lined “bridge” collections now taking up floor space at what used to be our nation’s staid luxury retailers. Nope, this year it’s even hit a coveted [...]
Entries from October 7th, 2009
In Case Of Recession, Even Your Fantasies Will Be Downsized
October 7th, 2009 · No Comments · retail
Tags:
Newsflash: Treasury Lied To You
October 7th, 2009 · 1 Comment · hank paulson
Surprise! Neil Barofsky starts ripping Treasury a new one. Sounds like they withheld $10 bn in bailout funds from BAC after allocating it to Merrill in order to force that merger to come to fruition, which is inconsistent when you consider Wells was given all of the $25bn standard “large failbank” allotment before eating up [...]
Tags:
Serta Sheep Unaffected
October 6th, 2009 · 3 Comments · fail
As briefly alluded to yesterday morning, Simmons expects to file Chapter 11 “soon” Simmons says it will soon file for bankruptcy protection, as part of an agreement by its current owners to sell the company — the seventh time it has been sold in a little more than two decades — all after being owned [...]
Tags:
Wu-Tang Won’t Save You Now
October 5th, 2009 · 5 Comments · fail
Method Man learns that the IRS ain’t nuthin ta f%#k wit. Grammy-winning Wu Tang Clan member and solo artist Method Man has been arrested in New York on felony charges for failing to pay his taxes. The 38-year-old rapper turned himself into authorities on Monday morning, after failing to file a return or pay taxes [...]
Tags:
Tastes Like Failure: Conde Kills Gourmet, Others
October 5th, 2009 · 4 Comments · fail
The bull run in magazines continues to show you exactly how hard it is over. Conde Nast, competitor of my real day job, shuttered four titles today: Gourmet, Cookie, Modern Bride, and Elegant Bride. Times is tough: We have now completed an extensive review of our business – an important undertaking given the dramatic changes [...]
Tags:
