Aren't You Sick of the R Word?

Since this global financial crisis began, my father has been coining a new catch phrase. Any time he thinks it can fit into a conversation, the sentence falls out of his mouth. For example, “Dad, it’s cold in Chicago. Let’s go somewhere for spring break.” He says, “We’re in a recession.” I say, “Dad, I need a new pair of shoes.” He says, “We’re in a recession.” “Dad, I’m really sick of hearing about this recession business.” He says, “Well, we are in a recession Maddie.” I’ve listened to his new catch phrase so many times I can hear it when I close my eyes to go to sleep.

But it is not just my father, it’s everywhere. Newspaper articles, television shows, retail marketing, conversations on the street…it makes me want to scream. I know, it’s a big deal and it’s affecting every single person. It just bums me out thinking about it and constantly hearing the dreaded word recession, and knowing how much it is affecting each individual person.

While browsing looking for something to inspire me so I can write about it, I stumbled across a new video series on the New York Times website. Our blog, Hard Times, has a very similar idea. People’s stories, while sometimes very depressing, help me to learn about what is going on in the world instead of reading about it in a general news article.

The series is called “The New Hard Times,” and will focus on different people’s feelings on the past and uncertain future during this…r word. It’s very well done, and adds a new and interesting element to journalism’s role in covering this crisis. I would recommend checking it out. But even after, try to refrain from using that nasty word when I’m around, so you don’t have to hear my grunts and grumbles on the topic.

A Freak Connection Between the Sunshine and the Economy?

When Chicago made it eerily close to the top of Forbes’ most miserable cities list earlier this year, one of the main reasons happened to be the lousy weather we encounter for what seems like three fourths of the year. When the weather hits even a slight breeze over 50 degrees, I see people busting out their mini skirts and flip flops, only to trade them out for their Uggs and winter coats the next day.

Ok, Forbes, our weather is miserable. We know, we live here. However, a New York Times article recently came out discussing the possible connection between sunshine and a slight improvement in the economy.

This may be a far stretch, and certainly will not have any drastic difference in the situation. However, they point out that when it is nice out, people feel much less gloomy and get out of their apartments/houses to get into the rare sunshine. Therefore, people are not focusing so much on their tight budgets and spend some money for lunch or new attire for the warm weather.

But apparently, this theory stretches beyond just buying a new dress because it’s nice outside. The stock market benefits to the spring and summer seasons as well. Stock prices rise higher then, as opposed to winter when trading decreases. This could be because of the recession this year, but the numbers are consistent.

According to this same article, “David Hirshleifer, a professor at the University at California, Irvine found that strong sunshine at the sites of 26 leading stock exchanges around the world (including the New York Stock Exchange) was linked to higher stock returns. Annual returns for the market were, over the course of the 16-year-period he studied, 25 percent on sunny days, compared with 9 percent on cloudy days.” So if the sun does in fact come out tomorrow, and stays out, the economy could see a slight boost.

Regardless of the economy, I would really love if the sun graced us with it’s presence and the temperatures stayed up for more than just 12 hours at a time. So this miserable city has some hope, and perhaps so does the economy coming into the warm season.

If I Could Be Anyone in the Whole Wide World, It Would Be Her.

buzz has surrounded this episode of CNN's Revealed since I can remember.
i have searched my directv guide at least 15 times, desperately trying to find it.
well, here it is.
someday, i will grow up, be much larger, and hopefully have a mere shrivel of her elegance, grace, and success.
enjoy, my hero.

An 80 Million Dollar Loan. Try Paying That Back.

We’ve all been in American Apparel. Essentially, if you need a basic piece for your wardrobe, you can get it in any color under the sun for way more than you want to pay. But I somehow manage to still spend $26 on colorful leggings and t-shirts for no apparent reason. Even if you aren’t aware of the store, you most likely have an American Apparel item in your closet. Most bands and companies use them to screen print their logos on.

Most people are attracted to the store for it’s simple nature and eclectic vibe. Everytime I’ve been in the store, it’s been packed with people. You’d also think that a place that charges $20 for a v-neck shirt, and it sells, would be doing pretty decent.

Unfortunately, this is yet another case of a store in trouble. On Friday, American Apparel almost filed for Chapter 11 bankruptcy. If they could not come up with $16 million or renegotiate their loan terms, their doors would close. Luckily, CEO/Founder Dov Charney and his team figured it out, and nearly missed their deadline. At midnight, British firm Lion Capital granted them a $80 million loan came their way. Charney used some of his own money to save his beloved company, which already owed $51 million from a previous loan.

After all of this drama passed, their stock raised more than 34%. Perhaps the days of sparkly leggings and oversized, expensive clothes are not over for Charney and American Apparel. Have no fear, the stitch by school downtown is safe. For now. But paying back $81 million dollars? Count me right out.

In with the Lipstick, Out with the Louboutins

Though it may be stating the obvious, in hard times most people cannot afford to purchase superfluous items with a large price tag. Women with a bit of money to spend usually are the ones buying said items, on things like jewelry or a pair of pricey shoes. During this looming economic crisis, the sales at major department stores and boutiques are slipping, causing job cuts and credit problems.

All is not lost, apparently. After being the girl that stands in front of the wardrobers, admiring the dresses and clothes I cannot afford, and walking out with a measly tube of lip gloss, it makes me feel a little better knowing I am not the only one participating in such activities. There is a term, thought up by the Chairman of Estee Lauder, Leonard Lauder that explains this behavior.

The “Lipstick Effect” happens during times of economic recession. It explains that women tend to purchase affordable items, like lipstick or nail polish, rather than the more expensive things in order to boost their spirits a bit.

Historians claim the same thing happened in the 1930s during the Great Depression, where a tube of red lipstick seemed to make the world a brighter place. The term, however, came about shortly after September 11th. According to the Chicago Tribune and ACNielsen data, the sales of color cosmetics–including lipstick and eye shadow–are up 4.4 percent.

Men, who tend not be such fans of cosmetics or lipstick, are using their lipstick budget towards double cheeseburgers and fries. Fast food chains seem to be one of the only businesses in America to see an increase of profit this year.

With the lipstick effect seemingly in full force, at least cosmetics counters can continue their business. That, and the slight pop of color on a woman’s lips might brighten someone’s day amidst that dreaded R word.