Saturday, November 29, 2008

Hard To Find Any Cheer On Black Friday

So how are sales for this year's Black Friday coming along? Not too good, if the below news are anything to go by.

…but for many stores there will be little to nothing to cheer about (For stores, the holiday season may already be over; AP).

There may be a lot of traffic to stores but it is not the quantity that matters but rather the quality (Black Friday shoppers out in force, but cautious; AP).

Sure, shoppers will be out in big numbers, it is Christmas chopping season and even though the majority will cut their overall spending they don’t wish to give up the experience.

New York City has strengthened security at its subway system amid warnings of a potential terror threat during the holiday season (Feds warn of terror plotting against NYC subways; AP).
Well, Carl Icahn started his holiday shopping spree early and boosted his Yahoo stake by 6.8 Million shares to 75.6 Million or roughly 5.5% (Carl Icahn raises his stake in Yahoo; AP).

Icahn is not the only one who packed goodies in his bag as the British government took a 60% stake in RBS, the countries second largest bank (RBS to be taken over by British government; AP).

It is clear the Icahn’s Christmas list was focused on assets while the British government loaded up on liabilities.