If Preppies Took Over Wal-Mart

Wal-Mart had been known for the blue vests with the words “How may I help you?” on the back, which was to convey the working-class image. However, now Wal-Mart is testing a new look to attract more upscale shoppers by having employees where a polo shirt and khakis. Also, they plan to sell items that are more expensive, like flat screen TV’s and 300-thread-count sheets. Wal-Mart now advertises in more upscale magazine like Vogue. They have also opened an office in Manhattan to watch for the new trends and created an urban line to improve the individual store sales.

The new idea for the uniform was said to be “very classy” by Stan Herman, who designs dozens of corporate uniforms. With the new uniforms it will raise the status of all the Americans who work for the chain. The working-class image will be now more like a business casual image for the store. Taraynn Lloyd, the director of marketing at Edwards Garment, says Wal-Mart’s uniform improvement is happening too late, now businesses are moving away from the polo shirts and going for button-down shirts.

The employees are also complaining about having to buy khakis themselves because the company is struggling enough to supply each of the 1 million plus employees with two polo shirts. Some employees don’t want to spend fifteen dollars on pants they will only wear for work

I think the change would be good for the image of the store, but I have always thought of Wal-Mart as a place where I could go when I don't want to spend that much money. Places like Target were always more expensive, so if I wanted something cheap I would go to Wal-Mart. With this change, I don't know if that will still be true. Do you think the upscale change of Wal-Mart will hurt the company or will it make the store more appealing and higher class so that more people shop there?


http://www.nytimes.com/2006/10/03/business/03uniform.html?ref=business

Elmo ruins WalMart's rep!

Remember the Tickle me Elmo that came out nearly 10 years ago? How about all the fuss caused by the shoppers in hopes to get one of their own? Just last month, Fisher Price announced the development of a new toy, the T.M.X. Elmo. This toy laughes uncontrollably, bends at the waist and slaps it's knee when tickled. The date to set on shelves was September 19, however, the item is already scarce. As people lined the doors waiting for opening at a Walmart in Chicago, they bacame disappointed upon the discovery that this particular Walmart hadn't even been supplied the product. It is believed that the shortage was on purpose, to keep the demand on a rise, however, Fisher Price completely denies that is the case. The biggest problem comes from angry customers towards the retailers. Although Walmart isn't to blame for the shortage, it is most common that people "see them" as the bad guy in the case. Fisher Price is only dealing with the retailers, the retailers, however, are dealing with the mean people. Although this is a problem now, it is assured that Fisher Price will increase production of the new hit toy in order to meet demands for the upcoming holiday season.
Do you think it was Fisher Price's intention to produce a shortage? Other than maintaining demand up, are there any other reasons that this would be the case? I can't believe that it would be a logical raeson to limit production, unless it is a marketing tactic used to get the name of the product out there and more well-known before the big shopping season. Maybe with all the fuss, people will show even more of an interest when the product is more readily available for purchase.

The Economics of Prostitution

Today in class we talked about the selling of illegal items and one such item was the human body. Economists Lena Edlund and Evelyn Korn considered wives and whores as economic "goods" that can be substituted for each other. Men buy, women sell.

Economists have been trying to find out how money and marriage relate to each other ever since Nobel Prize-winning economist Gary Becker published his seminal paper "A Theory of Marriage". Becker used market analysis to answer, or at least try to answer the question of whom, when and why we marry. He believes that our spousal selection is a market, and marriages occur only if there is a profit for both parties involved.

Edlund and Korn admit that spouses and streetwalkers aren't alike. Wives are superior to whores in the economist's sense of being a good whose consumption increases as income rises. This could be a possible explanation prostitution is less common in wealthier countries. But the implication remains that wives and whores are the same sort of thing.
Why do hookers make so much money? Prostitution seems to be a low-skill profession, but high-pay profession with few upfront costs, super-miniskirts and stiletto heels. Yet data gathered from different times and places found that prostitutes make more money than a woman that works for a living. This is found to be true in places where prostitution is legal and relatively safe. In short, streetwalkers aren't necessarily being paid more for their increased risk of going to jail or the hospital.


Another zinger: "This begs the question of why married men go to prostitutes (rather than buying from their wives, who presumably will be low-cost providers, considering that they can sell non-reproductive sex without compromising their marriage)." Guys, nothing says "Happy Valentine's Day" more than "low-cost provider."


http://www.forbes.com/entrepreneurs/2006/02/11/economics-prostitution-marriage_cx_mn_money06_0214prostitution.html

Gas Prices Are Finally Falling

Over the summer we were all experiencing gas prices near $3 a gallon. Well in the past eight weeks gas prices have fallen an average of about 73 cents, which I am sure has all drivers breathing a sigh of relief. However it gets even better, it is expected gas to continue falling, getting close to only $2 a gallon. Currently the cheapest gas prices are in cleveland with the cost being $2.08 a gallon, and the most expensive being in Las Angeles at $2.69 a gallon. The gas prices are falling all over the country anywhere from about 5 cents to 12 cents a week. Deisel is dropping also with an average of about $2.60 throughout the country.
I know I am personally very excited to hear that gas prices are falling, and look as if they will continue to fall for a while. I am just hoping the prices can stay low throughout the summer. And maybe never go up again, but that may just be wishful thinking.

Looking for a Job?

MariettaEcon
Are you one of the many Americans looking for a job but are unsuccessful at finding one? This problem lies with the loss of 2.4 million jobs, the greatest sustained job loss since the Great Depression, according to EPI and anemic jobs creation. So where are all these jobs going? In 2004, nearly 29% of the US companies moved their production and jobs to China. Meanwhile, the proportion of jobs at unionized facilities that moved jobs to Mexico rose from 26 percent three years ago to 44 percent that year.
As a total 39 percent of the jobs sent overseas in 2004 have been union jobs. It was estimated that nearly 406,000 employers would have sent their business overseas in 2004. The fact that some of these jobs are being sent overseas is to keep other countries happy and to help America get out of debt. The loss of jobs overseas affects the economy of the US by means of lowering wages which results in unemployment.
What do you think?

http://www.usw.org/usw/program/content/1673.php

New Law Effects Internet Gambling

In class today we discussed markets that are prohibited by the government, one of these was gambling. In some states glambling is illegal. In others there are restrictions placed on gambling. But what about internet gambling? I discovered this phenomenon was my cousin started playing Poker online. I asked how he paid for it, and he replied, "my credit card." Now, this is completely understandable to me. I mean we can shop online with credit, so why can't we gamble online with credit.

The government, however, has decided to interfere with online gambling. A law was passed that "prohibits the use of credit cards, checks and electronic fund transfers for online gambling transactions." The impact of this decision has had several adverse effects for may companies which run online gambling sites, and even may cause several to shut down. I wonder whether or not the government should have interfered in this sector. What do you think?

Cinema Prices Out of Control!

A night at the movies isn't cheap. It is expensive enough for a couple out on a date to attend a movie without the popcorn, candy, or a drink. Therefore, taking ones whole family out for the night is completely out of the question unless you're one that makes the big bucks.

The movie theater in Marietta charges $8.00 per ticket for adults and $5.75 for senior citizens and children. Isn't that a bit much? Two people going to watch a movie would be better off if they waited a little while and just bought the movie. This way they would be paying $16.00 for a lifetime rather than for a couple hours.

Ticket prices are high all over the world. In New York City tickets have reached a record high for the city at $10.25 a ticket. Denmark also has high rates for a night of fun. It leads the world with an average ticket price of $12.42 per ticket.

Not only are the ticket prices outrageous, so are the concession prices. At some theaters the cheapest drink is $4.00 with no free refills.

Movie prices are way out of control all over the world. If companies don't start lowering their prices, the movie business will drop significantly, because people won't be able to afford to go.

Baseball has been fighting the impossible battle...

Baseball is America’s pastime, yet over the past decade it name and history is being threatened by asterixes. In 1998 Mark McGuire and Sammy Sosa battled for their places in history. They were heroes for that year, with Americans all over being inspired by their stories. However, in the years since both of those superstars names have been associated with the one word which has darkened the name of baseball for years, STEROIDS. The past two years "steroids" and "Balco" have been huge news stories. Barry Bonds relation to Balco and their scandals have been well documented, and on April 20 Jason Grimsley's was caught with HGH the most common and undetectable steroid on the market today. This drug single handedly has put baseball in a pickle. HGH is undetectable, and while they have made huge strides with testing of other banned substances, it seems that every month a new former superstar comes out and says steroids are a problem. It is sad to know that America's pastime is starting to become more of a circus of testosterone, rather than stories of heroes such Roberto Clemente and Cal Ripken Jr.

How much would you pay???

By now everybody knows that college football is in full swing. Currently in NCAA rankings, my Ohio State Buckeyes are the number one team in all the land! Later today, they will be taking on the thirteenth ranked Iowa Hawkeyes at Kinnick Stadium, which is in Iowa City. For those of us who are not lucky enough to have tickets the game, it will be broadcast in front of a national television audience on ABC. But what about those people who do have tickets to the game?

Now I am a diehard Buckeyes fan, but for the right price, I would be willing to sell my ticket to any Ohio State football game (if I had one)! From economics, we know that as the demand for an item goes up, the price for that particular item goes up, especially as the quantity available for the particular item decreases. This is where the economics of the football game come in. Currently on eBay - Ohio State vs. Iowa, Ohio State vs. Iowa Tickets items on eBay.com, a single ticket to the game costs up to $900! Considering that the typical student ticket to any one of these games ranges from $25 to $50, that is a pretty nice profit for a single game ticket. Now, this is just a ticket to Ohio State against Iowa. For a ticket to the biggest rivalry in all of sports, Michigan vs. Ohio State, one can only guess and wait to see how high ticket prices skyrocket for this amazing game. Especially if both teams are undefeated when the Wolverines come to the Horseshoe and take on Ohio State this upcoming November 18th.

So what would you do if you were a student at Iowa and had a ticket that you could potentially sell for $900 or more? What if you were a student at OSU and had a ticket to big game against Michigan: go to the game or illegally sell the ticket? As aforementioned, I'm a huge Buckeyes fan and a have a hatred for the Michigan Wolverines. But if I had a ticket to the game and could sell it for $500 or more, you better believe I'm selling that ticket and settling the watch the game on a big screen television somewhere! How about you?

A Healthier Change???

A proposal in New York is being discussed about a ban similar to that of the smoking ban. The product being discussed is Trans fat in fast food restaurants. Thomas Frieden, a health commissioner, stated that “Trans fat is a dangerous and unnecessary ingredient.” This proposal will affect all fast food restaurants, including the famous McDonalds, Burger King and Wendy’s. If this ban is put in place there will be consequences. Chefs and restaurants will be fined if they are caught using certain banned ingredients. The question is, will fast-food restaurants lose income/consumers due to the possible change of ingredient, which could lead to a change in overall taste and satisfaction? Do you believe this ban should be passed? I believe that this change will not lead American’s towards better health; consumers may just eat more, which eliminates the healthy aspect of this change. All in all, changing an ingredient will only help guide the consumer through the steps of a healthier lifestyle. It’s the lifestyle that needs to be changed, not the product. People need to exercise along with eating properly in order to see and feel healthier. What is your opinion on this subject? http://www.cnn.com/2006/HEALTH/09/26/trans.fat.ban.ap/index.html

How to get the ladies????

Have you ever wondered why Jimi Hendrix got so many ladies. Was he really that attractive was it the guitar, or was it the fact he did acid on a regular basis. What we are going to do is try and successfully find out what gets makes you attractive toward the opposite sex.
You think back to all the popular rock stars, and every single one of them had women all over them, now what did they have they we don't. Lets take Alice Cooper for example is he better looking than most of the guys like you or me, no not really. He had instruments, and he played them well. Now lets take Snoop Dogg, he is not the best looking fellow out there, but he gets all the women. He smokes a lot of pot, right, so there is another quality you have to have. One last example would be Justin Timberlake, he does not do drugs, and does not play an instruments, but he is rich. Lets review:

• You have to do drugs.
• You have to act like you can play an instrument.
• You have to have a lot of money.
• Do not worry about dressing nice, just do the top three things and you would be good.

Ecstasy: Good or Bad

Ecstacy is a drug that everyone thinks is unbelievably dangerous, and noone knows anything about. Actually X is the drug which our government spends the most money on researching. There are 54 different types of ecstasy (pictured left) out there, and all come from underground laboratories. This exact webpage will sell a kit to test your X pill before you take to make sure that it will not physically harm your body. Many urban legends are out on the web, and around that say X is physically harmful, which is all urban legends.

As explained in the webpage the ecstasy pill used to be used in doctors offices such as psychologists, and mental centers. Why here you ask, well because people that go into these places have problems. A lot of the problems that involve your brain does not allow you to speak about what is going inside your twisted head. Not only would the patients take the pill, but the doctor as well would take it, so they could conversate, and share their problems.

Do not get me wrong X is not a safe drug by any means, but do not believe all the garbage about the physical harm. The only harm that you can get is if you bring it on yourself, like falling down the steps.

Dell looks to outsourcing to drive expansion

Dell is revamping their entire business model as they build new factories around the world. Their new goals are to reduce the number of services they provide in-house, do more outsourcing, and put a greater emphasis on design. Dell is currently building a new factory in Brazil and hopes to start building a new plant in India soon. They are also putting together a new team of over 60 design professionals to re-evaluate every current process and model. They want their products to be manufactured more efficiently while still being “cool” and not losing any of their functionality.
How will this affect their business? Will this expansion help or hinder Dell’s ability to be profitable?

Owens denies he tried to kill himself

Terrell Owens has been acting up for years, starting with his nasty comments about his quarterbacks, to risky touchdown celebrations, and complaints about being underpaid. These conflicts were always about the game of football, never about the matters of life or death. Late Tuesday, T.O. was taken in an ambulance to an emergency room. Some words that came out the next morning were suicide, depression, and overdose. Right away, Owens explained that it was all a misunderstanding. Right after he checked out of the hospital, he went back to the Cowboy’s headquarters. Right after he arrived, he caught some passes and then went to a crowded news conference showing his usual perky smile. At the news conference, Owens looked a little amused about the situation. He said he was sorry for causing a distraction, thanked his friends for worrying about him, and said he felt so good that he expects to play Sunday – even though he has the broken hand which led to the pain pills situation. “It was just an allergic reaction,” Owens said. “It’s very unfortunate for the reports to go from an allergic reaction to a definite suicide attempt.” A document said that a friend named Etheredge, called 911 about a suicide attempt and that she informed paramedics that T.O. was depressed. She also said that Owens bottle of painkillers was empty and that he was trying to harm himself. A spokesman said that whatever happened was “not a criminal offence”. Head coach Bill Parcells ended up walking out of his Owens-related news conference in nine minutes. “When I find out what the hell is going on, you will know,” Parcells said. At Owens’ news conference T.O. said “I am not depressed by any means” and that “I am very happy to be here”. The report said that rescue workers were notified because Owens tried “suicide by prescription pain medication.” There was mention of 35 pills that weren’t accounted for. “The rumor of me taking 35 pills, I think is absurd,” Owens said. “I don’t think I would be here if I had taken 35 pills.” Owens clarified that the bottle of hydrocodone, a generic form of Vicodin, was defiantly empty, but the additional pills were in a drawer. He had taken two or three, along with some all-natural supplements which he believes the combination made him groggy. Owens does not recall what he told the emergency responders. “I was kind of out of it,” Owens said. His friends and teammates supported Owens before he had his news conference. They were skeptical about him trying to kill himself. In my oppinion, T.O. is not your normal gifted athlete. I do agree with him and I don't think he tried to kill himself.
I believe that T.O. does a lot of his showing off just for attention. The question that bugs me is if he is really sorry for the distractions that he caused. He obviously didn't take 35 pain killers or else he would have overdosed and probably died. Hydrocodone is not a kind of painkiller you can take a lot of. You are out of it after taking one or two. I don't really like T.O. and I don't think anyone else can get along with him besides himself. Do you think he did it on purpose or was it a complete accident? Did he really know what he was doing all along? What do you think?

Homeowners May Get Cheaper Heating Bills

After years of rising heating bills, homeowners are likely to find some relief this winter. As we all know prices in gasoline have been falling dramatically, because of this the cost of natural gas on the market is about half the cost of what it was last year. Over the past two months the price per barrel of gasoline has gone down by fourty cents. By the price of gasoline going down people will have to pay less for their heating bills and for there transportation. By not spending so much money on high gas prices people can start to spend there money elsewhere. By spending there money elsewhere it is a good way to jump start other parts of the economy.

After a Seven-Year Ban, Salmon Fishing Returns to Maine

For the first time since 1999 salmon fishing has reopened but it took nearly two weeks after opening day for the first salmon to be caught! Salmon season was closed in 1999 due the rapid decrease in the population and the threat of distinction. According to Patrick Keliher who is the executive director of the Maine Atlantic Salmon Commission, "Pollution from paper mills, blasting by logging companies, and dams that impede salmon migration helped slice the Penobscot salmon population to 530 in 2000, from nearly 5,000 20 years ago.” Today around 1,000 salmon currently make their home in the Penobscot River but an Environmental Coalition has raised $25 million to buy three dams from a power company, tear down two of them and build a fish bypass around the third. This is in hopes of restoring the once large population of salmon and also bringing back the millions of tourists and their money to Maine. The reopening of salmon season has looked to be a positive so far; people from all over the United States are flying in to fish the rivers for these world renowned fish.

Although the season has reopened there are still many restrictions which will be monitored very carefully. People so far have been generally willing to deal with these restrictions in hopes that some day soon the population of salmon will flourish as it was many years ago. People in Maine feel very strongly about fishing for salmon, they believe it is a part of their history. It has been a tradition since most can remember that the first salmon caught each year is given to the president of the United States. Mr. Joel Bader, head of the bass-fishing club in Bangor stated, “I was last here when fishing ended, and I’m here today.” “It’s amazing, really part of history. It’s what every fisherman strives to achieve — catching Atlantic salmon. It’s what I want to achieve, especially on the Penobscot River.”

When the government closed the salmon fishing season many tourists stopped coming to Maine which resulted in a decrease in the economy. Was saving the salmon worth a decreased economy for seven years? Did the government make the right choice? In my opinion this was best for both Maine’s economy and fishermen. Although it may have hurt them for seven years, I believe it will benefit them in the long run. Salmon fishing is very popular and in high demand, so if they would have never closed the season, the fish would have died off, but by closing the season they have been able to restore the population, which will hopefully someday increase Maine’s economy.

Who Wantes to be a Millionare?

Liz Pulliam Weston explained in her article So You Want to be a Millionare , how the average American can make seven figures without even going on reality t.v. She was once like everyone else, grumbling over her morning coffee about how she would pay the monthly bills, when she decided to mess around with her personal finance computer software. She simply fiddled around with the numbers, told the software to update the account balances, and watched seven figures appear before her eyes. Mrs. Weston loves the fact that the experience of becoming a millionare was so "mundane". She did not even have to win the lottery, score big in the stock market, inherit a large amount of cash, or appear on a reality show. But she did have to practice the following key elements: making financial security a priority, spending less than she earned, saving and investing regularly, paying down her debt, owning a home, and maximizing her income. So follow these easy rules and maybe you too can become a self-made millionare and join the ninetieth percentile as far as United States' incomes go.

What do you think of Liz Pulliam Weston's plan for easily becoming a millionare? Is it realistic? If everyone listened to her advice, how would this affect America's economy?

Chew It Over... Using Snuff to Stop Smoking

In a front page article from the Wall Street Journal dated September 16, 2006 discussed the idea of using snuff to quit smoking. For those who don't know what snuff is, you may know it as chew or rub, with brand names such as Skoal and Copenhagen. While many find the habit disgusting, it is being explored as an option for smokers who want to quit. A growing body of research shows smokeless tobacco to be less harmful than cigarettes, but it obviously poses other risks such as tooth loss, gum disease and mouth cancer. Another attraction to this idea is the elimination of second-hand smoke, one of the largest gripes of non-smoking coalitions, and public health issues in this arena. It must be highlighted that this research was funded by the U.S Smokeless Tobacco Company, but also by the American Cancer Society. Also in the artice, a 2002 statement from Britian's College of Physicians believed that the use of smokeless tobacco is anywhere from 10 to 1,000 times less harmful than smoking. All that said, I point to a later article in the Wall Street Journal dated September 27, 2006 found here.

My view is that this is interesting research worth publishing for the sake of public awareness. If a smoker who wants to quit, and can't do it with the patch or the gum, perhaps chew is the answer to at least allowing them to live a more healthy lifestyle. Of course, we must weight the opportunity costs here. Is it necessarily better to chew? What about the health risks posed by chewing? Would we see less healthcare costs (paid for by insurance, and worse yet the government through medicare/medicaid), or would we see them go up with mroe health problems posed by chew? Of course, noone is saying that chew is a positive alternative to smoking, but in extreme cases, this research points to chew as a way to quit. Weigh the opportunity costs, your personal views, and tell me what you think...

Doggy Country Clubs?

According to The New York Times article, A Dog’s Life, Upgraded, the boarding kennel industry is a booming one. This industry is so booming that dogs are enjoying amenities such as heated swimming pools, hiking, listening to music, watching television, nail polish treatments, gourmet meals, and pedicures. Pet-related businesses are experiencing such an increase in demand that the projected sales this year will be $38.4 billion. The dog-days are over for these cherished pets. They are now being provided “bungalows” instead of rooms and heated tile floors and high-tech ventilation systems. Club Bow-Wow offers an “ambassador suite” where a staff member actually sleeps overnight with the dog. Now that is service. No longer do owners have to worry about their pets feeling lonely, because after an intense day of running outside pets can receive fresh biscuits, baths, and massages. The best part is the bedtime story over the sound system. One may think these additions are meaningless, but to the owners who are rolling-in-the-cash, it is a worthwhile investment. These luxuries come with a lavish price. For example, one kennel charges a customer for play time with an employee. This charge allows owners to increase their income without taking in more dogs. Community play, a chance for dogs to mingle, is becoming a demanded activity and one that employers are willing to supply. The turkey barbecue Thanksgivings and tailgating parties during college football seasons go to show the extent to which pet owners will go to accommodate for their companions. There is actually a class as the University of Wisconsin titled “The Biology and Philosophy of Human-Animal Relationships.” As much as these owners love their pets, the economy loves them even more. Some high-class kennels are charging as much as $185 per night.
This article, although humorous, is kind of interesting. As a profitable market, companies are taking advantage of the opportunity for pet owners to pay almost any amount for their pet’s lodging. Where is line between caring for a wonderful family pet and just down right not necessary?

Parents Unaware of Children’s Drug Habits

Most teenagers would never confide to their parents about what kind of substances they are using. Sometimes, parents can assume that as their little kids grow older, they are bound to try certain drugs and, of course, alcohol. A study by researchers at Washington University in St. Louis tried to distinguish how accurate parents are when guessing how much their child is involved with drug and alcohol use.
The study involved 591 parent and child duos that were asked about the teen’s drug habits. Alcohol, tobacco, and marijuana were the three most prevalent substances in adolescents at 54%, 44%, and 23% respectively. The parents were very naïve about their children doing drugs or drinking alcohol. They only reported use about 50% of the time for all three substances.
However, the older the child was, the more the parent was aware of these three substances being used by that child. This study shows that children, at a young age, are starting to delve into the experimental drug use, which can lead to substance abuse or dependency later on in life. Parents should try to become more involved in their child’s life outside of home and encourage them to stay away from drugs. If parents never teach their children about substance abuse, the teenagers can move from these three ‘soft’ drugs to harder drugs such as cocaine and heroin.