Intersecting Minds: Education, Business and Technology at the North Carolina State Jenkins Graduate School of Management

Another Rough Day | January 14, 2009

For the economy that is. From CNN, retail sales slumped for a record 6th consecutive month. Sales figures were also revised downward for the month of November. This marked the worst holiday season in over 40 years. Not good. Top executives at retail companies are now expecting that we won’t come out of the recession until early 2010 at the earliest.

In other economic news, Nortel Networks filed for bankruptcy this morning. Nortel is one of Canada’s largest companies, and its swift decline only highlights the global nature of the economic troubles we’re experiencing. Ever heard of the phrase, “No man is an island?” In today’s economy, no country is an island. During one of the presentations I mentioned in the post below, I asked about how much international experience mattered to companies. The answer? Not much. There simply aren’t many good jobs in foreign markets at this point. Companies are too hunkered down to be looking at aggressive expansion.


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