Expert Corner » Economy

4000 Arizona teachers issued pink slips

Joyanez — Thu, 23 Apr 2009 15:19:45 +0000

Arizona teachers will have to face tough times in the coming few months, though there is no fault from their end. The fault is with the government for not providing a budget for schools though the nest fiscal year is set to begin as early as July 1^st.

Total layoff notices issued in the alleged 120 districts count to around 5,500. And around 4,000 of them are teachers. These people are in a dilemma, about their livelihood from the next fiscal year.

However, government has assured that they will be re-hired as soon as they have an official budget. But relying on official budget can still be dooming; because, the state legislature has already announced a shortfall of $3.3 billion in revenues. The districts are expecting to receive at least 10 to 15 percent cuts in the regularly allotted budget for schools. Schools compose around 43 percent of the state budget.

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Government To Adopt Cost Cutting

Damon Williams — Thu, 23 Apr 2009 14:32:35 +0000

Entire America is into cost cutting these days. We see how people have reduced their expenditures, significantly in order to comply with the economy crisis. Then many big and small businesses have joined these cutbacks. Did we leave anybody out there? Oh, yeah! The government. We have recent news that Obama has ordered his cabinet to figure out cost cutting measures. So, the government is also joining the community of cutbacks.

The first cabinet meeting of Obama was on the cost cutting measures. In the next three months, the administrative costs would be reduced significantly. They even have a target; the target of $100 million cutbacks, in three months. Though it is not our problem to figure out on how to where to cut, how much to cut, etc. will there be any impact on the public. I think Obama is testing it on administrative costs. If it is successful, there will be more cutbacks in different sectors of the government. After all, how much is $100 million in a $9.3 trillion deficit.

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Home Sales Still Worse In March

Clarence Pettaway — Wed, 22 Apr 2009 11:05:14 +0000

Though there is a significance decline in home prices, the home sales are still not showing positive numbers. There is no supporting customer demand or consumer confidence, to the lower home prices. Thus, it is still not possible for the housing sector to recover from the recession.

However, there were some places in US, which showed growth in home sales. In addition, there are some places, which showed, still decline in home sales.

Austin Board of Realtors reported that single-family homes declined 22 percent in March, though there was a decline in median home prices. Whereas, in San Francisco home sales were up 25.7 percent.

If anybody is planning to buy a new home, this can be the best time to do it. According to a repot from NAHB, half of the US households have the potential to buy a new house, even with a $20,000 less in household income. They can also save $500 per month on their loan deal.

Government is encouraging homeowners with additional standard reduction in real estate taxes.

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Multi Channel Strategy Worked Out Well During Recession

Stuart La Frenais — Sat, 21 Feb 2009 10:56:42 +0000

As U.S. online sales increased at a faster rate in 2008 than total retail sales in 2007, chain retailers with collective e-commerce sales prospered best. According to an original analysis of data for Internet Retailer, e-commerce sales increased by 19 percent, whereas chains with collective e-commerce sales saw sales increased to 31.9 percent in 2008.

75 of the top 500 web merchants consist of 51 web-only merchants, 14 catalog companies, 8 chain retailers and 2 consumer brand manufacturers. Their collective e-commerce sales increased to $8.33 billion in 2008. According to the National Retail Federation, entire U.S. retail sales in 2008 increased by 1.4 percent to an expected $2.4 trillion.

The next fastest growing section after the chain retailers with collective e-commerce sales was web-only merchants, which increased combined sales by 19.3 percent to $3.65 billion, which was followed by catalog companies.

With several jewelry firms conveying fear, almost horror, from online diamond retailers like Blue Nile, the analysis provided a flash of hope. If independents and regionals will take up an aggressive online strategy, they could probably turn the movement on their diminishing businesses and obtain more sales, supported by the high quality personal service.

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