This year’s hottest department store Christmas items are the stores themselves
There are a couple Christmas shopping lists out there with gifts so big they couldn’t fit under the tree at Rockefeller Center. Within a week of one another, the Macy’s and Neiman Marcus department store empires have received buyout offers worth nearly $9 billion combined. The Neiman Marcus proposal came first, with rival Saks Fifth Avenue offering $3 billion last week (Dec. 1). This morning (Dec. 11), markets awoke to Macy’s getting a $5.8 billion take-private bid from a pair of investment firms. News of both offers was first reported by the Wall Street Journal.—Melvin Backman | Read More
Blame your landlord for inflation’s stubborn persistence
Inflation is finally cooling off. Energy prices are down. Food prices are mellowing out. But the cost of having a place to live is still rising much faster than just about every other essential.—Melvin Backman | Read More
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