Economies: discretionary spending crisis looms

By ChiefOfficers.net

When money gets short, quiet pursuits are the first things to go.

It would be interesting to hear what psychologists say about why the first major retail casualty of the USA's looming financial crisis has been a bookshop. And not just any old bookshop - Borders.

Borders has weathered the storm of on-line book retailing better than most - or so it appeared. With the largest bookshops in markets such as Singapore and Malaysia (albeit with a policy of shipping American editions of books - including those by English authors - to countries that use English English) the company was banking on markets where internet sales were not so rampant.

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