Neiman Marcus is not only cutting 850 jobs, but they asking their luxury vendors to moderate their prices.
The sky is falling when Neiman Marcus is concerned for price. I don't know if this is a good economic indicator, or a bad one. It seems to me that if someone wants to pay the price, and there is a market for high priced items then good for Neiman Marcus. However, if this is an indicator of an economic upturn in the Obama stimulus plan, it missed the mark.
I hope someone can tell the 850 people who are about to lose their jobs with Neiman Marcus, about how evil the rich are. Do people like Obama not see that if we hurt the rich, the rich will go on, and it's the regular American like these people who will be cut off?
I, myself, don't shop at Neiman Marcus, but I feel for those 850 people who will lose their jobs. The mansions will remain, but the jobs that will be lost may be yours.
Stop the madness, Mr. Obama. Don't redistribute the wealth. Make some wealth besides your own. Where does Michelle shop? Wal-mart?
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Comments: 37
The rich have plenty of money. They are keeping it in cash until they see good investment opportunities. (They are RICH after all.) If they gave half of their money to the poor the economic problems would be over within a couple of months. The reasons that we have these problems is that the rich got such a large proportion of the money that the poor and lower middle class couldn't spend enough to keep the economy going.
The rich are like a monkey with his hand deep in a heavy small mouthed jug unable to get his hand out because the nuts he holds in his hand make it too big to get out of the jug and the monkey is too greedy to let go of the nuts. So he just stands there until the hunter shoots him.
This has nothing to do with taxing the rich this is because the economy is bad and consumer spending is down.
And if Obama gives them money you will do an article on how we shouldnt bail out companies.
We get it. You dont like Obama.
But to post stupid drivel like this just makes you look unintelligent.
I will never put money in the Stock Market again....bank money market accounts are about the best thing, although at times, I feel like buying a safe and just keep cash in there....LOL!!!!!
Perhaps the middle class has chosen NOT to spend, spend, spend more, Larry.......the middle class has started saving, saving, and saving more.......I read on the Internet news where savings has shot up to about 15%.....the highest it's been in years!!!!!! People are scared, they are not going to be spending.
I dont see fewer and fewer people liking Obama. I see a president that has been in office less than 2 months and INHERITED this mess.
What makes Carol look unintelligent is blaming this on Obama and wondering where Michelle shops.
Other than the 850 jobs lost there is no FACTS in here.
Perhaps Phaedra is it...you may want to look up the definition of a fact before typing.
I agree this is bad if Nieman Marcus is cutting jobs.
Before Obama took office.
With Bush until the Democratic plans came into full fruit, we were actually on a slow but steady up swing. Now we're on a fast down turn, and these idiots in Office have no clue to what year it is, let alone what to do about it.
I'll agree Bush could have done better, even though he did inheirit this from Clinton, who had been warned from 1995 about this Economic collapse. Even then we have been on this road for a long time through many Presidents Democratic and Republican, it is not just a one sided mess. Right now we have someone that has no idea what to do, in a tough situation, and is letting fools that have less clues lead him around. It just goes to show what was said about Obama is true, he is not a leader, but a follower, and vexed about what the hell to do.
That was even before Obama was president elect.
Any question now as to why this shows a level of unintelligence?
I think about the time Nixon opened up trade with China our economy was in this downward spiral.
"And now we have elected a man no one knows anything about, who has never run so much as a Dairy Queen, let alone a town as big as Wasilla , Alaska .. All of his associations and alliances are with real radicals in their chosen fields of employment, and everything we learn about him, drip by drip, is unsettling if not downright scary (Surely you have heard him speak about his idea to create and fund a mandatory civilian defense force stronger than our military for use inside our borders? No? Oh, of course. The media would never play that for you over and over and then demand he answer it. Sarah Palin's pregnant daughter and $150,000 wardrobe is more important.)
Mr. Obama's winning platform can be boiled down to one word: Change. Why? I have never been so afraid for my country and for my children as I am now. This man campaigned on bringing people together, something he has never, ever done in his professional life. In my assessment, Obama will divide us along philosophical lines, push us apart, and then try to realign the pieces into a new and different power structure. Change is indeed coming. And when it comes, you will never see the same nation again."
I don't know anyone who is not being affected by the economic downtrend. I don't even know how much money we lost in my husbands 401k and pension. He was pretty set until IBM laid him off in 2007. We thought we had no worries through his retirement. Alas it is cheaper to outsource jobs to other countries. With the fewer workers not spending in America, can anyone be surprised?
It is a spiral effect. No job, no money. No money no spending. No spending, less business. Less business, less manufacturing. Less manufacturing, no job.
It is going to take years to get out of this, if we ever do. If we had kept buying American, we might not be here right now...but we all like to save a buck. Myself included.
We can blame the rich, we can blame ourselves, we can blame the government etc. Blame will get us nowhere.
I think we have to realize that President Obama is not a miracle man. I think even he didn't realize what he was getting into. With a run away train, like our country is on, it may not really matter who is trying to get it to stop.
He promised change, but change can take time...and only time will tell if he can make change and hopefully good ones. I think too many people believed he was a miracle man, which is why he was elected. That makes his job harder because of the high expectations people have for him. People get disillusioned very quickly. As much as he didn't create this mess, he gave many people hope he could turn things around. I feel bad for him if he can't.
All we can do is watch and see what happens.
Nora,
this isn't the beginning of people losing jobs, it has been going on for quite awhile. My husband worked for ASV, which they were slowly going bankrupt because of ecomonics in 2007, so Terrax bought them out, mainly for the patient rights to the lifter and drive (Catapiller has been wanting them for ten years but ASV refuse to sell to them, biggest competition)...anyways, as soon as Terraz bought out ASV, things began to change, within a year over 1200 people were terminated, not laid off. My husband was one of them. In one day 30 people from One plant were called in and told they were no longer needed, they got severence pay for a couple months, lost all stock, lost all 401K plans, lost all insurance and could Not collect unemployment for three months. That was in 2008, before Obama was President.
Same with the logging and mining up in Northern MN., before we moved there was over 2500 people without jobs from Nov. to Jan. and was getting worse, that is why we left. I went from being an assit. manager to three stores to nothing, hubby went from making 20.00 an hour to nothing.
Thank you Bush....not Obama.
Not the beginning, but in the middle, and hopefully the end will be soon.
I shopped there once. I didn't buy, but I shopped, just so I could say I shopped there. What fun. I saw the clerks, and they didn't look like they could afford to lose their jobs. Very sad.
A whole 5 seconds? Okay, so in September, Bush was on the way out, and everyone knew it. In fact, it was May 08, Neiman Marcus, Saks, and the rest of us, knew it would be Obama. Even I knew McCain couldn't win. That's when the market started to spiril downward. May of 08. Obama=loss of confidence. If I'm wrong, I'll be very happy, but I don't think so.
We didnt KNOW who was going to be elected in May 08.
Ask the poor what?
I am in favor of taxing everyone based on their income.
You are an enigma and not in a good way.
You claim to be on the side of the working people but then turn around and say taxing the rich wont help.
I have seen people ride the fence but your arse seems to be permanently attached to it.
Obama had to much power behind him, and to many guilible voters willing to vote for "Change".
It was easy to see who was going to win in May, all we could do was to hope Obama screwed up seriously, because that would be the only thing that would hurt him. Everything else the Media could give jacked up explanations for and the Guilible would believe it. And they did...
We needed someone that had enough forsight to handle this long time mess, but we got a Follower...
If McCain would have picked Romney or Huckabee the results might have been different.
Its easy to predict on March 16,2009 the winner of the November 2008 presidential race.
Your comment reminds me of all the old documentaries of Kennedy getting shot. People were pouring out of the concrete the next day proclaiming that they had predicted that Kennedy was going to get shot the day before. Trouble was they didnt come out with this revelation until AFTER the fact.
Did you ever think that maybe (oh horrors...really)... maybe Needless Markup is just so overpriced that even the rich can not afford to shop there. I mean ...ah well what are the rich going to do when they have to watch their money ;-)
That is the nature of our economic system and it has been doing these things to humanity for thousands of years. If we don't change the nature of our money it will continue to do these things to mankind again and again. Our money is better than barter but it has terrible economic diseases that go with it like inflation / deflation, unemployment, organized crime, taxes, oppressive government, poverty, labor / management strife, pollution, bad schools, and the BCS college football travesty.
For a better way read Invisible Hand or visit www.nopom.info.
Have you ever worn Neiman Marcus clothes. Neiman Marcus typically uses better materials and finer sewing. Thus an overall higher quality of clothes. I have jeans from Neimans that our 3 years old and look new(no holes or anything). The same is true for other items i have from there.
As for your comments about Obama...did you follow the election? I can name a few points during last fall where McCain killed his chances of winning. 1. When he anounced that we weren't having economic problems 2. Sarah Palin 3. When he decided to put his campaign on hold to help with the economic bailout(even though he has no economic expertise)
Please stop making things up.
~Christina