Santa Cruz can kiss it's *whole* business model Buh-Bye.
Americans give up lattes, vacations as economy sours By Tony Pugh | McClatchy Newspapers Posted on Thursday, February 7, 2008 WASHINGTON — With the economy in a nosedive, Americans are shedding unnecessary expenses, saving their cash and voting "no" to discretionary spending. That means later for lattes, farewell to fashion and goodbye to family vacations at Disney World. The new restraint reflects a time-tested truth about economic downturns: When the economy gets shaky, non-essential spending is the first thing to go. From Starbucks to Disney World and Nordstrom to Target, the service sector — which accounts for about two-thirds of the nation's economic activity — is taking the hardest hit. A monthly survey of 15,000 consumers released Thursday by Discover Financial Services found that half plan to do less non-essential spending in February and also plan... In full: http://www.mcclatchydc.com/homepage/story/27036.html
