supply and demand

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17 Stories

Teeming With Inventory, Kohl's, Gap Resort to 'Pack and Hold'

Clothing retailers are tapping into unusual strategies amid an inventory glut

(Newser) - As summer tilts toward autumn, major clothing retailers have found themselves with a massive glut of inventory, forcing many chains to make tough choices. Per CNN, discounts and promotions are the usual strategies for clearing excess goods, but that's not good enough for Kohl's and the Gap. Both...

COVID Testing Slows From '100mph to About 25'

Significant drop in demand due to various factors may leave a glut of testing supplies

(Newser) - Just five weeks ago, LA County was conducting more than 350,000 weekly coronavirus tests. Now, county officials say testing has nearly collapsed. More than 180 government-supported sites are operating at only a third of their capacity, per the AP . "It's shocking how quickly we've gone from...

The World Is Running Out of Chocolate

Two chocolate makers warn of huge annual deficit

(Newser) - Like grabbing a Snickers on the run or savoring a little dark chocolate in the evening? Then brace yourself, because chocolate production is failing to keep up with worldwide consumption and could fall behind by 2 million metric tons annually by 2030, two big chocolate makers tell the Washington Post...

Blood Banks Shift Strategy as Need Drops

Fewer elective surgeries, better medical devices lead to decreased demand

(Newser) - Here's something you might not expect: Blood banks generally aren't hurting for your business as of late. Thanks to fewer elective surgeries (blame the economy) and improved medical procedures that reduce bleeding during operations, blood banks are actually having to cut staff and reduce operations, the AP reports....

Economic 'Mismatches' Mean Food Crisis Is Here to Stay

(Newser) - The various sectors of the global economy have become so entwined with food production that prices are acting in a very “puzzling” manner, the Economist reports. Last year, the market responded rationally to the global food crisis of 2007-08, increasing production and thus lowering prices. But with another bumper...

Demand for 'Must Have' Camaro Dwarfs Supply

(Newser) - Recession be damned, desire for the 2010 Chevrolet Camaro far outstrips supply—and some dealers are even charging a premium for the sporty new ride, USA Today reports. “Our current production schedule can’t meet the demand,” a General Motors spokesman said. But “that supply-demand tension is...

Why Car Rentals Are Pricey in Great Recession

Airfares, hotel rates fell, but rental rates have started back uphill

(Newser) - Hoping for a cheap car rental in the Great Recession? Sorry, car rental fees are going up, thanks to agencies selling off chunks of their fleets and creating a false shortage, Michelle Higgins writes in the New York Times. Last month, the average weekly airport rental price jumped 73% over...

Auto Sales Take a Drubbing in December
Auto Sales
Take a Drubbing in December

Auto Sales Take a Drubbing in December

Chrysler off 53%; GM, Ford, Toyota, Honda all down more than 30%

(Newser) - Chrysler's sales were off 53% in December compared to the same time last year, the Wall Street Journal reports today, with Ford's off 32% and General Motors down 31%, further indicating a steep decline in US demand for cars. Foreign makers took an even harder hit last month: A 35%...

Plunging Exports Roil Asia
 Plunging Exports Roil Asia 

Plunging Exports Roil Asia

Declining global demand sends shock across the continent.

(Newser) - Asia, the manufacturing powerhouse of the last few decades, is experiencing a plunge in exports unprecedented in modern history, the Washington Post reports. Japan, the world’s second-largest economy, reported yesterday that exports dipped 27% in November, while Thailand’s exports shed 19%, the most in 17 years. Taiwan’s...

Chrysler Idling US Plants for 30 Days

Supply to be slowed so it meets lowered demand, company says

(Newser) - Ominous news on the auto front: Chrysler will idle all its North American plants for at least 30 days beginning Friday, a move meant to realign the company's supply with plummeting demand, the Detroit News reports. Ford, meanwhile, will close 10 assembly plants for an extra week in January, the...

End the Recession: Throw Us All a Grand

Banks just horde cash; citizens will spend it

(Newser) - The financial crisis has begotten a global recession, but government leaders across the world are still concentrating their efforts on fixing the banking system. That's a waste of time, writes Simon Jenkins; the banks only horde cash to save themselves and ride out the downturn. For the Guardian columnist, the...

Honda Cuts F1 Racing Team
 Honda Cuts F1 Racing Team 

Honda Cuts F1 Racing Team

Attempting to cut costs, Japan's No. 2 carmaker axes racing program

(Newser) - Honda, facing economic drag as the financial crisis sharply curtails demand for automobiles, is withdrawing from Formula 1 racing, at least until global markets turn the corner, the Guardian reports. Honda's CEO once pledged to spend “a trillion yen” to secure an F1 title, but shareholders have pressured the...

Taliban Stockpiles Surplus Opium

This year's crop was double global demand

(Newser) - The Taliban is stockpiling opium in Afghanistan, where high yields in recent years have led to a surplus, the UN drug office says. Poppy cultivation is less widespread than it once was, but the high yield offsets the contraction—and allowed the Taliban to make $300 million off opium last...

Home Builders Want Federal Bailout, Too

But critics warn adding to housing supply will only make things worse

(Newser) - Home builders, undeterred by the automakers’ troubles in securing federal aid, are campaigning for a $250 billion stimulus of their own, the Wall Street Journal reports. Saying that the economy can't recover until home prices stop tanking, the builders propose a plan, called “Fix Housing First,” where the...

As Food Prices Rise, Lobster Treads Water
 As Food Prices Rise,
 Lobster Treads Water

As Food Prices Rise, Lobster Treads Water

In Maine at least, local economies dodge the perils of globalization

(Newser) - As global demand drives food prices to new highs, there’s one high-end food item whose price is in decline, Daniel Gross points out in Slate: lobster. In Portland, Maine, a pound of lobster costs slightly more than a gallon of gasoline, a ratio that historically was more like 4-to-1....

OPEC May Boost Oil Output to Ease Prices

Cartel may meet early and backpedal on current policy

(Newser) - As crude hit $125 a barrel today, one OPEC member said the cartel may boost oil production to relieve prices, the New York Times reports. The move would conflict with OPEC's public stand that speculators, not oil supplies, have been keeping prices high. “We would consider among other options...

Oil Hits $104; OPEC Won't Budge
Oil Hits $104; OPEC Won't Budge

Oil Hits $104; OPEC Won't Budge

Cartel president blames 'mismanagement' of US economy for rising prices

(Newser) - Crude oil rose to a record $104.52 a barrel today after OPEC decided to hold production steady. “The oil market is currently stable,” said Saudi Arabia’s oil minister. “There is no need to increase even one barrel of oil.” The cartel blamed sky-high prices...

17 Stories