Who would have thought that Macy's would be in such a slump? The department store's shares dropped over 9 percent following the market's close Wednesday after it posted disappointing holiday sales and released the locations of 68 stores it plans to close nationwide as it aims to turn its fortunes around. Macy's comparable sales tumbled over 2 percent in November and December; it expects full-year diluted earnings to be in a range of $2.95 to $3.10 -- considerably lower than the $3.15 to $3.40 it was hoping for. In an effort to cut costs and streamline operations, Macy's said it will eliminate layers of management and will work to reduce other non-payroll costs. As a result of these steps, the company expects its work force will shrink by 6,200. Plus, some 3,900 workers will be displaced by the store closures and some of these employees may be reassigned. The store closures reflect an attempt to reverse slumping sales at its established shops, with the de...

In many of my posts, I muse about what life must have been like in the 18th century and express a burning desire to travel back to colonial times. One of the things I can't imagine, though, is living in an era devoid of the technology we've come to rely upon today. Indeed, the internet has revolutionized the world like nothing else. Who would have imagined we'd be availing of it to do so many things -- from buy groceries and find love to speak with friends and family in different corners of the world? But the internet wasn't always as vast as it is today, with more than one billion websites. In fact, on August 6, 1991, British computer scientist Tim Berners-Lee published the first-ever website while working at CERN, a physics lab in Switzerland. Appropriately, the site described the Web and how to use it. We should feel blessed to live in a time when technology affords us the opportunity to do things our ancestors could only dream of. You can buy virtually...

Judging from the purchase behavior of some of my friends, family members, and coworkers, it's apparent that some people are heavily influenced by advertising. I've lost track of the many times in recent weeks that people around me have admitted to being swayed by an ad in a newspaper or magazine, a banner ad on a website, or ubiquitous TV commercials. And it's not as if they feel compelled to purchase things they really need; usually, they already have heaps of whatever it is they're looking to buy stocked in their drawers or closets -- be it cologne, shirts, or shoes. This is precisely why I studied marketing and psychology -- so that I can be impervious to the advertisements we're assailed by daily and immune to the underhanded tactics that salespeople at mobile phone stores, car dealerships, and other places attempt to employ. I recommend that people only let their guard down when it comes to advertisements for products they really need -- the kinds of produc...