The First Draft: Friday, Nov 28
If Thanksgiving is over, it must be time for “Black Friday”. The big question this year is — will the traditional start to the holiday shopping season be a good one given the bleak economic picture?
Retailers sure hope so, and they have slashed prices and offered incentives to lure shoppers to their store.
Terry Lundgren, chief executive of Macy’s said about 5,000 people had lined up outside the flagship Herald Square store which he called “encouraging” though he admitted in an interview on “Good Morning America” it’s been a “challenging period” for retailers like Macy’s.
“For retailers, this is the playoffs,” he said. “Starting now through the week after Christmas … We have much more aggressive pricing than we have in previous years.”
The state of the U.S. economy is on the minds of many — even al Qaeda.
Al Qaeda’s second-in-command published an Internet video saying the U.S. financial crisis was caused by Washington’s military campaigns in Iraq and Afghanistan.
In India, commandos took control of Mumbai’s Trident-Oberoi hotel but battles raged on with militants who were still holed up in another luxury hote, the Taj Mahal, and a Jewish center with about half a dozen foreign hostages.
After two days, the siege at two hotels and a Jewish center neared its end amid gunfire and more deaths. Police said so far at least 121 people have been killed.