Signs of a Deeper Recession
In past recession most luxury brands saw little impact. Mercedes and Lexus automobiles kept rolling off of showroom floors. Hermes bags were still big sellers.
But recent reports show this recession is having an impact on these brands. Executives in high fashion areas say that in this crisis they are suffering like everyone else. The chief executive at Saks Fifth Avenue, Stephen Sadove observed, “I don”t think any of us anticipated that high-end customers were going to fall off as dramatically as they have”.
The good news is a Neiman Marcus you will find $4300 tote bags discounted $1500. What a bargain!
I think this is a key sign this recession will not be like others in the past.
Course Content
Darris McNeely
Darris McNeely is a retired elder in the United Church of God. He and his wife, Debbie, have served in the ministry for more than 53 years. They have two sons, who are both married, and four grandchildren. Darris continues teaching at Ambassador Bible Center and is a member of the Council of Elders. Darris and Debbie continue to travel and keep up with the many friends and relationships around the world.
