America's supercenters are dying a slow death.
Huge big-box stores like Wal-Mart Supercenters and Target are being phased out in favor of "some combination of value and convenience," Goldman Sachs recently wrote.
"Just about every major trend we're following right now bodes poorly for power center retail," Doug Stephens, founder of industry website Retail Prophet and author of "The Retail Revival: Re-Imagining Business for the New Age of Consumerism" told Business Insider.
Americans are driving less than they have in decades. Populations are flocking to smaller, urban communities over sprawling suburbs. And consumers in their 20s and 30s increasingly prefer small, local shops to big-box retail.
The proliferation of e-commerce also means that consumers can order many products online rather than having to drive to the store. Read The Full Story
The US has reportedly started direct arms supplies to Kurdish Peshmerga fighters in Iraq to help them battle the Islamic State militants.
Previously the US insisted on selling arms only to the Iraqi government, but that policy has changed now, senior US officials told AP.
The officials would not disclose what kinds of weapons are being supplied or which agency is funneling them.
One official said it was not the Pentagon. Historically, the CIA has been involved in the clandestine arming of foreign fighters in various conflicts.
Iraqi Kurds, who are engaged in intensive fighting with militants from the Islamic State militants, have been complaining that they are under-armed compared to the radical Islamists, who captured a lot of American weapons from the Iraqi army in a lightning offensive in June.
The Kurds earlier received arms deliveries from the Iraqi government, an unprecedented move for Baghdad, which in the past has been reluctant to further empower the semi-autonomous Iraqi Kurdistan. The deliveries were facilitated by the US. Read The Full Story
A new study is out providing support to one of my favorite ideas in public policy — that the best way to deal with the challenge of homelessness is to give homeless people homes to live in. To some it sounds utopian and it's natural to worry about the cost, but a great deal of evidence suggests that it would be cheaper to house the homeless than to let them languish on the streets and deal with the aftermath. Read The Full Story
Just before he headed off to Martha's Vineyard for another vacation, President Obama explained the situation in Iraq (standing in front of the impressive Presidential helicopter) careful to use the phrase 'men, women, and children' numerous times. He called on Iraqis to unite against militants (subtley suggesting the reason the Iraq military ran away was because of a dis-united government). Crucially, he noted Iraq's Islamic State "problem will not be solved in weeks. Read The Full Story
It’s been a good week for Bitcoin.