Tag Archives: economy

50 Is The New 40

The price of an average steak dinner has edged past $50 in many of Manhattan’s busiest steakhouses. “Beef is taking another price leap now. It’s in short supply and difficult to get,” Michael Lomonaco, chef and managing partner at Porter House New York, told Crain’s. His restaurant has been charging more than $50 for a year; the cowboy ribeye goes …

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Bizarre Herman Cain Ad

For Cain’s just-launched Sick Of Stimulus site.

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Unemployment Graph

(Source)

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Food Stamp Presidents

(Via JMG reader Ray)

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Manhattan Rents Soar

It may or may not be a leading sign of economic recovery, but rents in Manhattan are surging back to their all-time high. Manhattan apartment rents continued to soar through the roof in January and are now getting close to hitting historic highs. The average price of a rental apartment was a whopping $3,352, up 5% compared with January, 2011, …

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Clint Eastwood’s Super Bowl Car Commercial Has Pissed Off The GOP

Last night my pal Karl Frisch was on Young Turks to discuss.

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Hostess Files For Bankruptcy

Hostess Brands has filed Chapter 11 for the second time. The privately held Irving, Texas, company, which employs roughly 19,000 people and carries more than $860 million in debt, has been facing a cash squeeze amid high labor costs and rising prices for sugar, flour and other ingredients, according to people familiar with the matter. Those costs together have proved …

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Employment Picture Slightly Brighter

Things still suck for millions, of course, but the slow and steady improvement highlighted by today’s employment figures certainly brightens the future for the Democrats. For now…

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NYC Chain Store Snapshot

The Wall Street Journal reports: The 307 national retailers tracked in the survey expanded to a total of 6,994 city stores this year, from 6,883 in 2010. About one-third of the chains had fewer city locations over the past 12 months, including American Apparel (seven stores in 2011 vs. 20 in 2010), Borders (which closed all nine of its stores), …

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Kodak May Declare Bankruptcy

The stock market reacted strongly yesterday to a report that Kodak may be about to declare bankruptcy. The ailing photography pioneer’s shares fell to a new all-time low after the Wall Street Journal reported that Kodak is preparing for a bankruptcy filing “in the coming weeks” should it fail to sell a trove of 1,100 digital-imaging patents. Analysts have said …

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Store Closures For Sears/Kmart

The stock price of Sears/Kmart is plunging today upon news that the retailing giant will close over 100 stores in the next month. Sears Holdings said sales at stores open at least a year, a closely watched retail measure known as same-store sales, tumbled 5.2% in the eight weeks ended on Christmas Day. That came from a 4.4% drop in …

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Portland’s LGBT Paper Folds After 29 Years

From the publisher of Portland, Oregon’s Just Out: “Effective December 26, 2011, Just Out newsmagazine, serving Portland’s LGBTQ community since 1983, is no longer in business. Three years of recession have taken their toll.”

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Brazil Passes UK As 6th Largest Economy

The Guardian reports: Brazil has overtaken the UK to become the world’s sixth-largest economy, according to a team of economists. The banking crash of 2008 and the subsequent recession has relegated the UK to seventh place in 2011, behind South America’s largest economy, which has boomed on the back of exports to China and the far east. Russia and India …

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Housing Starts

(Source)

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Boxing Day: Britain’s Black Friday

Watch out for £2 waffle irons!

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Rent Graph

(Source)

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San Francisco’s Minimum Wage Hits $10

The dirty socialists running San Francisco will drive small businesses out of town by demanding that workers be paid a decent wage. So says the local chamber of commerce. $10.24 an hour come January.

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Big Service Cutbacks For USPS

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UK: Two Million Strike Over Pension Cuts

An estimated two million public employees are striking across Britain today in a 24-hour protest over pension cuts. Affected agencies include health care, schools, police and fire protection.

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American Airlines Files For Bankruptcy

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