6at4 Business Report: Google Music, new Wegmans, Black Friday

November 16, 2011

Black Friday backlash
Some stores planning to open earlier than usual this Thanksgiving are dealing with "Black Friday" backlash. The early morning rush is a tradition for many. But a Target employee in Omaha has started an online petition to try and slow it down. Anthony Hardwick is trying to push back his store's midnight start time for Black Friday. More than 89,000 people nationwide have signed it. Target says Hardwick was not scheduled to work on Thanksgiving or Black Friday. Several other retailers are opening as early as 9 p.m. on Thanksgiving.

Oil prices rise
On the one hand, oil rose today and that's like a tax on consumers, and that has investors concerned. They climbed above $100 for the first time since late July. Oil prices have surged 35% since early last month. We've been getting more positive economic news in the US, there are new governments being formed in Greece and Italy, so that's giving some sense of progress with the debt crisis, and inventories have been falling.

Beef Prices Rising
Meantime, retail beef prices climbed to record. That's according to the Dept of Agriculture and comes in at $4.50 a pound.

Wegmans at Montgomery Mall
It's Wegmans that's moving into the vacant anchor tenant position at the Montgomery Mall. The store will be in the former Boscov space and be up to 140,000 square feet. The new grocery store will be joining the Macy's, JCPenney, Sears and Dick's Sporting Goods that are the other big retailers at the mall.

Google Music launches
Google is looking to give Apple's iTunes a run for its money. Today the famous search engine unveiled its own online music store. The Google Music service uses cloud music storage which allows people to listen to music on multiple devices.

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