Consumer Confidence at Record Low
New York City Consumer confidence fell to a record low in December as the worst job market in 16 years hammered sentiment, the Conference Board said on Tuesday.
The Conference Board, a business-research company, said its Consumer Confidence Index fell to 38.0 in December from a slight downwardly revised 44.7 in November.
“The further erosion of the Consumer Confidence Index reflects the rapid and steep deterioration of economic conditions that occurred in the fourth quarter of 2008,” said Lynn Franco, director of the Conference Board’s Consumer Research Center.
“The overall economic outlook remains quite dismal for the first half of 2009, and only a modest recovery is expected in the second half.”
Not surprisingly, consumers also rated their present situation the worst in 16 years, with the index of this measure tumbling to 29.4—its lowest since April 1992—from November’s 42.3.
Herd to retire as Polk Audio president
BALTIMORE Polk Audio, announced that its president, Jim Herd, will retire at the end of the year, leading to a realignment of its senior management team.
“After a total of 30 years in the loudspeaker industry, including 16 years here at Polk Audio, I am fortunate enough to be able to retire and attend to more personal interests,” said Herd.
Polk Audio will be structured under the following three primary areas: marketing, sales, and product line management will report to Ben Newhall, vp of sales; engineering, project management, and purchasing will report to Jeff Nemec, vp of new product development; and operations and finance will report to Joe Tristani, COO.
Amazon.com claims 2008 was best holiday ever
SEATTLE Amazon.com has managed to defy economic trends, by claiming that the 2008 holiday season was its best ever. According to the company, more than 6.3 million items ordered worldwide on the peak day, Dec. 15, which is a record-breaking 72.9 items per second.
Among Amazon.com’s top sellers this holiday season were the Eyeclops night vision stealth goggles, the Apple iPod touch 8 GB (2nd Generation) and “The Tales of Beedle the Bard” by J.K. Rowling.