Wednesday, 02 December 2009
The story that that has dominated domestic and international headlines after last year’s presidential election is the state of the world economy, specifically the recession that has affected virtually every sector of the world’s markets. Between unemployment numbers, devaluation of securities, the tightening of credit lines, the weakening of the U.S. dollar, and reluctance of consumers to spend during such uncertain circumstances have put a halt to capital expenditures. In short, it is the classic vicious circle.Mainstream retailers have been especially hit hard. Long standing businesses such as CompUSA, Circuit City, KB Toys, and Linen N’ Things comprise a very short list of companies that had to close up shop and liquidate. Along with retail, the travel and hospitality, automotive, and general services sectors have been dealt knockout punches.The consumer electronics industry is down, but has fared better than was ...