Giving Thanks and Going Shopping: Not What It Used to Be
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This is "the American weekend," a day of thanksgiving normally followed by the biggest shopping day of the year. But these are not normal times. Retailers are bracing for a tough sales season and consumers are re-thinking what they buy and where they buy it. Guest host Sara Terry asks if these are short-term responses to the economy or the beginning of long-term changes in lifestyle. Also, more Obama appointments, and protesters are bringing Thailand to a halt. Thousands are stranded at the airport in the latest development of a four-month-long protest against the government.
Photo: Justin Sullivan/Getty Images
Making News
Labor Underrepresented on Obama's Economic Team ()
Three days and three press conferences. President-elect Barack Obama spoke to reporters again today, this time to announce a council of economic advisors, headed by former federal reserve chief Paul Volcker. Kim Chipman of Bloomberg has more.
Guests:
- Kim Chipman: Reporter, Bloomberg
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Main Topic
The New Thriftiness in America ()
Today's news that consumer spending dropped by one percent last month, the biggest decrease since 2001, isn't what retailers want to hear right now. After a day of thanksgiving, the holiday shopping season kicks off on Friday, traditionally the biggest shopping day of the year. Retailers count on weeks ahead to bring in one-third of their annual sales. What are retailers doing to bring shoppers in? Are Americans re-thinking their consumer habits in the midst of economic hard times? Will more people be drawn to the simple lifestyle movement? What shifts does that signal for an economy that depends on consumer spending?
Guests:
- Candace Corlett: President, WSL Strategic Retail
- Jeff Casler: Owner, Second Time Around
- Justin Greeves: Senior Vice President of Public Affairs and Policy Research, Harris Interactive
- Vicky Robin: Co-author, 'Your Money of Your Life'
- Daniel Gross: Columnist, Newsweek and Slate, @grossdm
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Reporter's Notebook
Protestors Shut Down Airport in Thailand ()
In Thailand, protesters have brought the country to the brink of chaos. Thousands of travelers are stranded at Bangkok's international airport, which the protesters have occupied since Tuesday. The ongoing saga dates back to protests in 2006 against former Prime Minister Thaksin Shinawatra, who was ousted in a bloodless military coup that year. Tim Johnston is Bangkok correspondent for the Financial Times.
Guests:
- Tim Johnston: Bangkok Correspondent, Financial Times
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