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by SixFigureStart | February 02, 2009


While you were watching the Super Bowl …

-          Consumer products giants Motorola and NEC announced more layoffs.—While this won’t affect most of us directly, it will add to the Pink Slipped community.

-          The new CEO at Wal-Mart said the country’s largest retailer will continue to pursue its international expansion plans, recession or not. – If you’re looking for an international gig, Wal-Mart might be your employer of choice.

-          A new report on consumer spending reported that we the consumers spent 1 percent less in December than a month earlier.—This might marginally mean that we are saving more, but more directly it means we’re cutting down on all expenditures.

-          Retailers across the nation halted hiring. The noteworthy include Blockbuster and Best Buy.

-          Circuit City’s sales upped a notch to 20 percent off - if you’re cherishing that electronic item that was once beyond consideration, it might be in your reach now.

-          The cobbler industry was doing very well. Ever thought of getting a shoe fixed rather than spending much more to buy a new pair? Well, with unemployment on the rise and almost everyone tightening their purse strings, this just might be the perfect time to head to the cobbler instead of the nearest DSW. Yes, the cobbler still exists! Even though the ranks have dipped from as many 120,000 shops during the Great Depression to approximately 7,000 nationwide, they do still exist. And while salaries and bonuses were on the rise for the past decade, driving this skill-driven industry into persona non grata status, the current recession has brought them back into much-needed prominence. The Wall Street Journal also reports an online shoe-repairman, where you can mail in your shoes and they will repair and mail them back to you! Want to check it out?

-          Lehman reported hiring—those financial experts who can help dissolve the firm’s assets. The upside? Continuous employment for two years—the time estimated to liquidate Lehman’s $7 billion balance sheet.

-          The economic stimulus plan played with the trillion mark over the weekend. The Senate wants to expand the existing proposal, but to what extent?

-          Anything else we missed during the big game? Tell us about it in the comments, or send us an email at

--Posted by Aman Singh Das, Vault Editor