Michael Barbaro [New York Times] notes that over half a dozen store chains have filed for bankruptcy in recent months amidst "mounting debt and plummeting sales" and warns that financial troubles are "quickly spreading to bigger national companies."The Times article comes amid a slew of reports underscoring America's economic woes. Even presumptive Republican presidential nominee Sen. John McCain, who only months ago panned talk of a recession, admitted today that he thought the country was now in one.
Happened just like that. Surprised him, but you never know when the economy is going to do a 180 overnight. You just can’t plan for these things.
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