Friday, October 10, 2008

Macy's warns

Here's the link:

Pricing in clothing has fallen off of a cliff. Start with Wal-Mart and then go to Penney's and see the pricing for clothing for middle America; step up to Costco, and then check the fashionable clothing at the higher end stores.

The low end merchandise moves, while the higher end sits on the shelves, meaning that now, this economic route has now closed the door on the aspirational and upper middle shopper.

Wall Street is so depressed, that they've kicked out the therapist and have decided to spend some of their cash at gentlemen's clubs. Here's the story from the NY Times:

Except, apparently, in one area: strip clubs (or “gentlemen’s clubs,” as they like to brand themselves).

“Since the market has been going down, our business has been going up — it’s unbelievable,” said Sam Zherka, the owner of the V.I.P. Club in Chelsea, who estimates that about 80 percent of his clients are Wall Street types. (You’d think the lawsuits would have dampened that, but it seems fine as long as they’re not entertaining clients on their work-related expense accounts.)

Mr. Zherka added, “A lot of guys are losing their shirts in the market, and they are coming in droves.”

It looks like some of that cash removed from the banks, is finding a new home.

In G-strings!

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