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?Sales at stores open at least a year declined in November at major American store chains, including Macy?s, Nordstrom, Kohl?s and Target, sending a shiver through the retail world Thursday.
The reporting period included Thanksgiving and Black Friday, the official kickoff of the critical holiday shopping season. Early reports regarding those days had been mixed, and the individual retailers? dim results suggest a big challenge in the coming weeks for retailers.?
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Thomson Reuters tracks major retailers actual sales results ? not surveys ? and the most recent data was disappointing. Sales at stores open at least a year gained 1.6% increase in November. This is far below the nonsensical 13% number the?National Retail Federation (NRF) trumpets to gullible journalists. It was even below the 3.3% increase consensus of analysts.
The NYT rounds up some of the sales figures, and they are not pretty:
Kohl?s sales -5.6% (vs expectations of +1.9%)
Target -1% (vs +2.1%)
Nordstrom -1.1% (vs +4.3%)
Macy?s -0.7% (vs + 1.5%)
There were a few winners:
Costco +6%
Limited? +5%
Gap +3%
We won?t get the final holiday sales figures til January, but you can be pretty comfortable with the premise that there will not be an increase of 13% of retail sales this holiday season.
The lesson here is pretty stark. Be very aware of what you accept as a data source. Understand the differences between hard numbers ? i.e., sales receipts ? and squishy emotional guesses produced by surveying consumers.
The bottom line:? The NRF is an industry shill group that produces nonsensical spin that misleads investors, fools the public, and bamboozles incompetent journalists. Any writer who uncritically reprints their nonsense deserves to be fired; any media outlets that publishes their junk should be put quarantined and put on your DO NOT READ list.
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Previously:
Black Friday Skepticism (Finally!) Goes Mainstream (November 23rd, 2012)
Black Friday?s Media Hall of Shame (November 28, 2012)
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Source:
Sales at Nation?s Retailers Fell Short of Expectations in November
STEPHANIE CLIFFORD
NYT, November 29, 2012
http://www.nytimes.com/2012/11/30/business/sales-at-nations-retailers-fall-short.html
Source: http://www.ritholtz.com/blog/2012/11/november-sales-disappoint-what-happened-to-black-fridays-13/
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ScienceDaily (Nov. 30, 2012) ? Everyone knows that men and women tend to hold different views on certain things. However, new research by scientists from the University of Bristol and published in PLoS ONE indicates that this may literally be the case.
Researchers examined where men and women looked while viewing still images from films and pieces of art. They found that while women made fewer eye movements than men, those they did make were longer and to more varied locations.
These differences were largest when viewing images of people. With photos of heterosexual couples, both men and women preferred looking at the female figure rather than the male one. However, this preference was even stronger for women.
While men were only interested in the faces of the two figures, women's eyes were also drawn to the rest of the bodies -- in particular that of the female figure.
Felix Mercer Moss, PhD student in the Department of Computer Science who led the study, said: "The study represents the most compelling evidence yet that, despite occupying the same world, the viewpoints of men and women can, at times, be very different.
"Our findings have important implications for both past and future eye movement research together with future technological applications."
Eye movements are a tool used to collect visual information, which then colours an individual's perception of the world. Equally, when individuals have different interpretations of the world, this in turn affects the information they seek and, consequently, the places they look.
The researchers suggest that men and women look at different things because they interpret the world differently. The pictures preferred by women were the same pictures that produced the most distinct 'looking patterns'. Similarly, the pictures with the largest scope for a difference in interpretation -- those with people -- also produced the largest differences between where men and women looked.
One perceptual sex difference in particular -- women's increased sensitivity to threat -- may explain a further finding. People's eyes are drawn to the most informative regions of an image while also being repelled from areas that carry possible threat or danger, for example the sun. Faces are a paradoxical example of a region that is both highly informative and potentially threatening, particularly if eye contact is made.
While men made direct eye contact with faces in the pictures; especially when primed to look for threat, women averted their gaze downward slightly towards the nose and mouth of these faces. The researchers claim that this may be due to women being more sensitive to the negative consequences of making direct eye contact and will, therefore, shift their gaze downward, towards the centre of the face.
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The above story is reprinted from materials provided by University of Bristol.
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Source: http://feeds.sciencedaily.com/~r/sciencedaily/~3/qC0CKuFSV7E/121130222243.htm
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SAN ANGELO, Texas (Reuters) - The Texas railroad crossing where four U.S. military veterans were killed this month during a parade was designed to give 30 seconds warning but gave only 20, according to state records and federal investigators.
Sixteen other people were injured when a train slammed into a parade float in Midland, Texas, on November 15 at the start of a weekend of festivities to honor veterans wounded in the Iraq and Afghanistan wars.
Four of those wounded have sued Union Pacific, the operator of the train, and Smith Industries, the company which owns the truck that pulled the trailer the veterans were riding on for the parade.
The Texas Department of Transportation released on Wednesday records from 1992 that said the intersection known as Garfield in the southern part of the oil town had been designed to give at least 30 seconds of warning and possibly more.
Investigators with the National Transportation Safety Board said the warning bells began sounding and lights flashed at the intersection 20 seconds before the train arrived at more than 60 miles per hour (97 km per hour).
The parade float, one of two, was an open trailer hauled by a semi-truck donated from Midland-based Smith Industries. The float had been pulling 12 war-wounded veterans and their wives.
The cab made it across the intersection but the train hit the open float.
Two attorneys specializing in train crash lawsuits, Kevin Glasheen of Lubbock and Bob Pottroff of Manhattan, Kansas, are representing the four victims of the train crash, two veterans and their wives.
"Ten seconds, even five seconds, would've made a difference," Glasheen said.
The lawsuit says that Union Pacific failed to provide a safe crossing or a proper warning of an approaching train. It also says the truck driver employed by Smith Industries who drove the cab pulling the float failed to exercise reasonable care for his passengers.
Union Pacific said on Thursday the records released by the state of Texas are outdated.
"Documents from 20 and 30 years ago do not reflect current conditions at the Garfield crossing," said spokeswoman Raquel Espinoza.
She said preliminary findings of a federal government investigation showed that the signal system met federal requirements.
Union Pacific has blamed the driver of the truck pulling the float for the accident. The government investigation continues.
(Editing by Greg McCune and Eric Beech)
Source: http://news.yahoo.com/texas-records-raise-warning-train-crash-035224802--finance.html
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A Pleasure Craft Can Be The Recreation Investment For Almost Anyone
Water sports are enjoyed by almost everyone and there are few experiences that compare to taking a boat out upon a lake for skiing, fishing, or simply enjoying the wind rushing by and the water spray. The pleasure craft is for many people an essential part of the summer?s recreation and enjoyable by the entire family. This type of sporting activity doesn?t require a huge investment as boats can be as large or small as the budget and the purpose dictate.
While a yacht might be nice for open water and desired by many, the largest boat for leisure activities is not always the best suited for the particular sport or purpose. A small boat with a trolling motor is all that many avid fisherman want or need. The quiet motor and low hull allow them to get in close to the shore and fish without frightening their quarry away.
However, no matter the size of the boat or the purpose there are certain boating laws governing the operation of these craft. Most operators are required to have taken boating safety courses and to have a craft operator card. A boating license is required in most states and is a statement that the operator understands the rules and regulations governing the operation of their craft.
The popularity of boating for leisure has increased and with more recreational boats on the waterways it is more important than ever that the operators be competent and conversant with all laws. Different types of boats require different licensing and competencies but the most common is the pleasure craft boat license.
Boat safety is taken very seriously by most boaters and competency licenses help assure that the boater is up to date on the latest in regulations as well as basic safety measures. A competent craft operator should know many basic safety facts. Knowing how many life vests are required in a leisure boat, who has the right of way at any time and how many people their boat can carry are just a few of the obligations of a boat operator.
Boating laws are important to safety and the regulations may vary from closed lakes to sea going vessels. Classes which teach boat safety and give licenses are important so that the pleasure craft operator emerges knowing what rules govern their craft in almost any situation. The license is merely proof they have taken the classes and passed the competency tests.
People can invest many thousands of dollars in their recreation, this is particularly true of boats used for leisure and sports. They feel the investment is well worth it. However, as valuable as the dollars spent on the craft, is the time spent learning the boat laws and acquiring a boating license.
Whether enjoying the waterways inland, or experiencing the thrill of the open water the competent boat operator can assure that both they and their passengers arrive home safely. Pleasure craft provide leisure time opportunities and a sport that can be enjoyed whether they are young or old. It only makes sense to assure that the operator has all the skills and knowledge possible and a license as well.
Source: http://boatingguide.info/boater/a-pleasure-craft-can-be-the-recreation-investment-for-almost-anyone.php
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Source: http://torrens-late.blogspot.com/2012/11/a-pleasure-craft-can-be-recreation.html
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Take-down Requests
Google's Compliance
Internet experts at a Future Tense event this week are questioning how the Internet should be governed. But to what degree have nations already imposed their rule on the Internet?
Google releases twice-yearly transparency reports describing requests for Google to remove content, mostly because of defamation, privacy, or security concerns. As the map above shows, Google received nearly 2,000 requests from more than 50 countries to strike content from its websites in the first half of this year. Turkey is the most vigorous meddler. Among other efforts, Turkey requested that Google strike more than 400 YouTube videos that criticized the Turkish government.
The U.S. ranks second. Most of its 273 requests are court orders, many of which relate to defamation lawsuits against individuals or organizations.
Because Google is beholden to the laws of each country, Google?s legal constraints determine its compliance. According to Google?s website, it does not always comply with a request. Some orders are falsified. In other cases, it can?t find the described content to take it down.
For more on Internet governance, tune in to the Future Tense event today, streaming live from 9 a.m. to noon on the New America website.
Source: http://feeds.slate.com/click.phdo?i=e3704b7cb184a3ae1279d11291c46930
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?We are working to help the thousands of New Yorkers displaced by Hurricane Sandy, and those who suffered severe damage face a long period of uncertainty and considerable expense in making decisions about rebuilding and returning to their homes,? said Mayor Bloomberg. ?We want to do all that we can to ease their heavy burdens, and working with the Speaker, City Council and State Legislature, we will secure two property tax measures that provide a small measure of relief to those who need it most.?
?Helping property owners whose homes were destroyed by Sandy is a no-brainer,? said Speaker Quinn. ?A property tax rebate and grace period to pay bills are two small steps we can and will make happen. The Council will approve the grace period at our next stated meeting and this rebate will be the quickest and easiest way to get cash directly into the hands of these homeowners ? one of the most important things we can do right now in this long road to recovery. I want to thank Council Members Oddo and Ignizio for first proposing this idea and for the Bloomberg administration for working with us to pursue this vital rebate and grace period.?
The interest-free extension will apply to Class 1 and 2 residential properties that received a red tag from the Department of Buildings, meaning they must require extensive structural repairs before they can be re-inhabited or must be demolish. Quarterly and semi-annual payments typically due on January 1, 2013, will be delayed to April 1, 2013. More than 3,000 properties are eligible for the extension, and the average property tax bill is $506. The City Council must authorize the proposal before the Finance Department may issue the extension.
Property taxes for the current fiscal year (Fiscal Year 2013) reflect assessments made in May 2012. The Mayor, Speaker and City officials have proposed a reimbursement for a portion of the taxes paid this fiscal year. If enacted, more than 900 properties would be eligible, with an average rebate of $794. The Finance Department is also working to ensure that the property tax assessments for FY 2014 reflect the post-hurricane conditions.
Mayor Bloomberg has announced several relief programs for home owners impacted by Hurricane Sandy. NYC Rapid Repairs, a first-of-its-kind program that sends contractors and City inspectors to restore power, heat and hot water to impacted homes, has deployed more than 100 teams to damaged areas. More than 9,300 homeowners have enrolled and 3,400 assessments have been completed. The City has authorized $500 million for the Rapid Repairs program. Homeowners must first register with the Federal Emergency Management Agency to receive an ID number by visiting disasterassistance.gov or calling 1-800-621-3362. Enrollment in NYC Rapid Repairs can be done on nyc.gov or by calling 311.
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