10 Not So 'Recession-Proof' Industries
The theory is that the über-rich don't cut back on their spending. But even if that's true, there are fewer of them left to splurge. (One Forbes survey finds that the number of billionaires in the world has dropped 30 percent from last year.) From convertibles to couture, the industry is feeling it. In April, Mercedes-Benz sales in the United States were almost 30 percent lower than the year before, and March sales at Saks were down nearly a quarter from the previous March. Meanwhile, the New York-based analysts Bain & Co. predict that luxury sales for the first half of 2009 will be 15 to 20 percent lower than a year ago.
The recession is hurting many families and companies across the country, but there are a few bright spots. Who do you think is a recession winner? And who are the biggest recession losers?