Changes: The closure of Macy’s at Cortana Mall, announced last week, will lead to 108 employee layoffs, Macy’s says in a notification to the Louisiana Workforce Commission. Macy’s says in the notice that it will provide information about transfer opportunities to other store locations to all affected employees. LWC says it has contacted Macy’s regarding reemployment services for affected employees, and it is encouraging all laid off employees to visit one of Baton Rouge’s two LWC business centers at 1991 Wooddale Blvd. and 4523 Plank Road. As previously reported, the store closure will leave the 1.4 million-square-foot mall with two anchor tenant vacancies.
Under pressure: A rapid appreciation of the U.S. dollar may send Brent oil to as low as $20 a barrel, according to Morgan Stanley. Oil is particularly leveraged to the dollar and may fall between 10% and 25% if the currency gains 5%, Morgan Stanley analysts say in a research note this morning. “Given the continued U.S. dollar appreciation, $20 to $25 oil price scenarios are possible simply due to currency,” the analysts write in the report. “The U.S. dollar and nonfundamental factors continue to drive oil prices.” Brent crude capped its third annual decline in 2015 and has already lost more than 11% so far this year. Bloomberg has the full story.
Station to station: Television viewing was once so beloved by Americans that nearly half said it was their favorite thing to do at night, but it is now less popular than ever as an evening pastime. Fifty years ago, 48% of the public polled by Gallup said watching TV was their “favorite way of spending an evening.” But this percentage has decreased steadily through the decades and now stands at a record-low 16%, Gallup says. Meanwhile, the top choice for U.S. adults when asked how they like to spend an evening is “staying home,” with 34% mentioning this activity in Gallup’s most recent poll. Resting/relaxing (13%) and reading (12%) are the third and fourth favorites, respectively. Both have been among the top choices all 11 times Gallup has asked the question since 1966. Read the full story.
