Good day for: Lowering standards, as sales in Wal-Mart stores rose by 5 percent in April while the recession battered rival retailers. One reason for Wal-Mart's good fortune: Affluent shoppers who used to avoid the giant discounter are now coming in looking for bargains. More than a quarter of Wal-Mart's sales increase came from new shoppers, most of whom had household incomes of at least $50,000. Wal-Mart's wealthier customers spend 40 percent more per visit, on average, than the typical shopper. (BusinessWeek)
Bad day for: Sugarcoating bad news, as Bob Rodriquez of FPA Capital Fund told fellow mutual-fund managers that they did a terrible job in 2008, when the Standard & Poor's 500 Index dropped by 38 percent but most actively-managed stock funds did even worse. "In a word, we stunk," said Rodriguez, one of the industry's best-known managers, at the Morningstar Investment Conference last week. "We managers did not deliver the goods and we must explain why." (MarketWatch)
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- After Ferguson: Stop deferring to the cops
- Ferguson riots were terrible — but this racist reaction was worse
- The hilarious hypocrisy of Republicans complaining about the imperial presidency
- Is it now OK to have sex with animals?
- 43 TV shows to watch in 2014
- In Ferguson, Michael Brown lost his life — and America's police lost the benefit of the doubt
- Don't argue about politics this Thanksgiving. Just don't.
- 7 grammar rules you really should pay attention to
- How to be the most productive person in your office — and still get home by 5:30 p.m.
- Hey, scolds: Stop telling us to enjoy a healthy Thanksgiving
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