Wal-Mart unveiled its new design for remodeled stores in Rogers, Ark. - a look that ties each section of the store together with a fresh use of light and color. Gone are high shelves stuffed with so much it was hard for shoppers to find what they sought. The design fits with its economic-downturn strategy of offering affordable fun - from DVDs to prepared meals - that families are opting for instead of eating out and going to the movies.
Pershing Square Capital Management, which owns nearly 10 percent of Target Corp.'s common stock, has proposed to spin off the retailer's real estate holdings. It says the plan could increase the value of the company, send shares higher and create long-lasting value for the company. Target owns most of its buildings as well as the land under its buildings, according to the hedge fund.
The yen's jump crippled fiscal second-quarter earnings of Japanese electronics makers, and the hard times were expected to continue amid a global financial crisis. Sony's profit fell 72 percent in the July-September period, as a surging yen wiped out perks from flat-panel TV and PlayStation 3 sales, as well as box office revenue from the movie Hancock. Toshiba tumbled into the red; and Fujitsu's quarterly profit slipped 21 percent.
General Motors said third-quarter worldwide sales dropped 11 percent, as GM fell further behind Toyota for this year's No. 1 global sales spot. GM sold 2.11-million vehicles in the third quarter, while Toyota's sales for the period fell 4 percent to 2.24-million. The results bring GM's total sales for January-September to 6.66-million vehicles, compared with Toyota's 7.05-million.
"It's a much bigger job loss and a much bigger taxpayer hit if Chrysler simply goes out of business or is dismantled."
PATRICK ANDERSON, CEO of Anderson Economic Group, who said 25,000 to 35,000 jobs will be lost if General Motors acquires Chrysler
$352 AVERAGE U.S. AIR FARE in the second quarter, the highest level since the government started keeping track 13 years ago