Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)

[rcjordan]

Why America gave up on Covid-19 relief and economic stimulus - Vox
https://www.vox.com/21523204/coronavirus-unemployment-stimulus-economy

[Drastic]

>economic stimulus

I think we've given up on this until after the election. It seems one party doesn't want to negotiate to supply more relief while orangeman is in charge.

[rcjordan]

80,000 furloughed as tour bus industry grinds to a halt - CNN
https://www.cnn.com/2020/10/24/business/motorcoach-employees-furloughs/index.html

[rcjordan]

^{Pretty good read.}

The Dark Side Of The Recovery Revealed In Big Data : Planet Money : NPR
https://www.npr.org/sections/money/2020/10/27/927842540/the-dark-side-of-the-recovery-revealed-in-big-data

[Brad]

> Dark Side

This is going to add to political tensions.

[ergophobe]

Ah... I meant to post an article by Raj Chetty earlier. I wonder if I can still find it.

[rcjordan]

Exxon, Chevron to cut US jobs as oil industry struggles
https://borneobulletin.com.bn/2020/10/exxon-chevron-to-cut-us-jobs-as-oil-industry-struggles/

[rcjordan]

Sainsbury's closing 420 Argos stores and cutting 3,500 jobs after posting £137m losses
https://inews.co.uk/news/business/sainsburys-closing-argos-stores-jobs-cut-losses-lockdown-749677

[Rupert]

https://www.huffingtonpost.co.uk/entry/arcadia-philip-green-collapse-explained_uk_5fc5ed86c5b68ca87f876f7b
Arcadia: What Its Collapse Means For Jobs, Pensions And Shopping Orders
with Debenhams, it half the UK high street.

[rcjordan]

>half the UK high street

From over here it seems like the UK retail bricks economy is taking a harder, deeper hit than the US.

<+>
The fall of Topshop
https://www.fastcompany.com/90581871/where-topshop-went-wrong

[Rupert]

And another.  formal wear is struggling... Tell me about it!  A cousins wife, who works in a charity shop was telling me how she could not shift second hand suits.
now this:

https://www.standard.co.uk/business/leisure-retail/thomas-pink-up-for-sale-as-covid19-hits-demand-for-office-shirts-b257770.html

[ergophobe]

I wonder if this is permanent or if it will come roaring back when people are able to hold fancy parties again.

I think the long-term trend is away from formal wear and even "business" attire, which seems rarely worn in most business settings now. But I think for "evening" formal wear, there will be a thirst for events and for splurging once people can.

[Rupert]

...and there is less competition out there.

[Brad]

I may have flicked past an article recently while I was doom-scrolling but I didn't read it.  The teaser was something about a Black man dressing up because he was taken more seriously by others.  That is true no matter what your ethnicity: if you walk in wearing a business suit and tie you get treated differently (read better) than some schmuck in jeans and a hoodie.   You are signaling that you are a player rather than a mark.

There are marketing points here but you have to educate the intended customer base as to the benefits.

Back in the early 1980's, when I was starting out and needed to wear suits, I bought the book "Dress for Success" by John T. Molloy.  It served me well on building a wardrobe for work on a very tight budget.

[buckworks]

Molloy's "The Woman's Dress for Success Book" was not as good as his book for men IMHO but I learned from them both.