The New Thriftiness in America
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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 bickering in Sacramento over the state budget.
Photo: Justin Sullivan/Getty Images
Making News
Lame-Duck Legislature Comes Up Lame ()
California's lame-duck Legislature has come up…lame. Late last night, at the end of an emergency special session in Sacramento, lawmakers failed yet again to resolve the state's massive budget gap. A projected $27.8 billion shortfall now awaits a new Legislature. Matt David is Deputy Chief of Staff for Governor Arnold Schwarzenegger.
Guests:
- Matt David: Deputy Chief of Staff, Governor Arnold Schwarzenegger
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
- Vicky Robin: Co-author, 'Your Money of Your Life'
- Daniel Gross: Columnist, Newsweek and Slate, @grossdm
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Underwriters
Which Way L.A.? is made possible in part by the Ralph M. Parsons Foundation, the Nathan Cummings Foundation, and the John Randolph Haynes and Dora Haynes Foundation, which supports study and research into policy issues of the Los Angeles region.
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