GOOD DAY FOR: Oil barons, as luxury auto sales, dropping elsewhere, are holding strong in Saudi Arabia. Even with oil’s drop from recent record highs, sellers at a luxury car exhibition in Jeddah are bullish about the coming year. BMW and Mercedes are the top-selling luxury brands, but Rolls-Royce, Lexus, Porsche, and even Harley Davidson are gaining favor with younger Saudis. (Reuters)
BAD DAY FOR: Movie moguls, as Hollywood, once touted as “recession proof,” looks to get hurt in the current downturn. According to a Forrester Research survey, adults age 25 to 34 said that, if they had to cut expenses, they’d first cut a night at the cinema or premium cable. At the bottom of the list? Fast Internet, which is also partly behind the willingness to cut movies and cable. (Los Angeles Times)
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