“Crocs were born of the economic boom. The colorful foam clogs appeared in 2002, just as the country was recovering from a recession. Brash and bright, they were a cheap investment (about $30) that felt good and promised to last forever…. Then the boom times went bust, and Crocs went to the back of the closet. The company had expanded to meet demand, but financially pressed customers cut back. Last year the company lost $185.1 million, slashed roughly 2,000 jobs and scrambled to find money to pay down millions in debt.” (Washington Post, Thursday)

Consumer is king (unless the government overrules her with a bailout).

FEE Timely Classic
“Consumer Sovereignty” by Bettina Bien Greaves