Federated CFO says not abandoning moderate shopper
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Federated Department Stores Inc.   will transform 400 former May stores into Macy's on  Saturday, but the change does not mean the retailer -- despite  its renovated stores and new merchandise -- is abandoning its  moderate shopper.
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Resisting the temptations of the mutual-fund performance chase isn't as easy as it may look.
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U.S. consumers are in good financial shape, a top Fed official said on Monday, dismissing fears that high levels of household debt are unsustainable.
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This retailer's still trying to loosen up.
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Federated Department Stores Inc. reported strong fourth-quarter profits Tuesday and said it will change its name to Macy's Group Inc. But the department store operator &#151; still struggling to integrate former May Department Stores Co. stores &#151; offered a profit forecast well below Wall Street expectations.
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WASHINGTON -- The Federal Reserve kept interest rates steady, giving holiday shoppers a reason for some cheer. However, the Fed held back an extra gift Wall Street was hoping for: a signal that rates might actually be lowered soon.
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The Goldsmith name will disappear from Memphis and Jackson department stores that have borne it for 134 years. Cincinnati-based Federated Department Stores announced it will change its regional department store brands to Macy&#39;s, beginning in January.
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The deep-discount retail chain is feeling the effects of cautious spending.
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The U.S. administrative proceeding  looking into the merger of organic grocers Wild Oats and Whole  Foods Markets Inc.  has not been stopped despite a loss  in district court, but Federal Trade Commission Chairman  Deborah Majoras said on Tuesday the FTC rarely presses on after  losing a court fight.
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CINCINNATI -- Names such as Lazarus, Burdines and Goldsmith&#39;s will be disappearing from the retail landscape in January. Do you think changing the names of Federated stores to Macy&#39;s is a good idea?
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Federated Department Stores Inc. , parent of Macy's and Bloomingdale's, on Thursday reported an 8.5 percent rise in November sales at stores open at least one full fiscal year.
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The U.S. Federal Reserve is not rushing to cut benchmark interest rates because it wants to break investors of the view that the central bank is there to bail them out, an article in the Wall Street Journal said on Thursday.
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A pair of Forrester Research analysts gave CIOs a passel of advice Thursday on how to deal with the possibility of a U.S. economic recession.&quot;We are not predicting a recession, but we think its important for CIOs to be proactive, to get their businesses ready in case there is a recession,&quot; said analyst Andrew Bartels, who conducted the teleconference with colleague Alex Cullen.Their recommendations boiled down to a number of main themes: The right ways to cut costs, to work closely with CFOs, and to plan not only for the lean times but for the good ones that inevitably follow.&quot;Get close to your CFO. You want to be arm in arm with that CFO,&quot; Bartels stressed.Forrester said there is a 55 percent probability the economy will remain essentially stabilized, due to factors including U.S. exports boosted by a weak dollar. The firm projects a 35 percent chance the country will enter a shallow recession, and a 10 percent chance it will fall into a deep one.The analysts said to watch for two key warning signs: Gas prices rising above $4 a gallon and two or more consecutive months of non-farm payroll employment.If they haven&#39;t already, CIOs should prepare now by reviewing their portfolios and identify which projects could be postponed, cut, or cancelled, he said.&quot;If you&#39;re running things well, adapting to recession is easier,&quot; Cullen noted.The tradeoffs vary depending on the type of cut, he said. For example, delaying hardware purchases could result in increased service outages.CIOs could also try other tactics, such as renegotiating vendor pacts or enacting hiring freezes, according to Forrester. Such measures could antagonize business partners and overburden staff, they said.But those types of risks are mild in comparison to that posed by cutting certain types of &quot;low-hanging fruit,&quot; such as time and support for research and development.&quot;These things look like they don&#39;t have immediate payback, so the question is &#39;Why are we doing them when times are tight?&#39;&quot; Cullen said.Likewise, it would be foolish to pull money and resources away from architectural strategy, he argued: &quot;You&#39;re going to be impeding your ability to take a long-term view of IT investments. When the tap opens up again people are going to be creating silos ... and you&#39;re going to spend your time unwinding these things.&quot;&quot;The worst thing you can do as a CIO is get so focused on cuts that when you come out of a recession, your department can&#39;t take the business where it wants to be,&quot; Bartels added.Outsourcing IT may also look like an appealing option, but the analysts issued a stern warning against it as a quick fix.Large-scale outsourcing deals take a long time to close, for one thing, Cullen argued: &quot;This is not near-term savings. This is not 2008 savings.&quot; But outsourcing of a particular IT function could make sense, he said.The hot trend of the past couple of years -- SaaS (software as a service) -- is not necessarily a fitting remedy during a recession, the analysts argued. While SaaS vendors relentlessly tout the cost savings their offerings can provide, it would cost a lot more to rip and replace legacy assets with SaaS products, the analysts said. However, they added, SaaS might offer lower upfront costs for a new technology.
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BARCELONA--The director of technology for RSA Security said businesses need to move their online customers toward a federated identity policy or security threats could bring people to lose confidence in trading.
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The leading home-goods retailer keeps its balance sheet clean and delivers strong results.
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Citigroup Inc  CEO Vikram Pandit is likely to keep the company intact rather than spinning off or selling units such as the Smith Barney retail brokerage, CNBC's Charles Gasparino said on Tuesday without citing sources.
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U.S. Treasury Secretary Henry Paulson, on the second day of a tour seeking to build support for a mortgage relief plan, said it was not a bailout for people who made bad decisions.