It’s not just high end California. Your editor was in Downtown DC yesterday morning and jewelry stores particularly, long a standard of the neighborhood, seem to be dropping like gilded flies. Lunch places are empty with “For Rent” signs. This is far worse than even The Great Recession. At least during the last recession store owners were “only” battling the economy. Now they must battle an economy being crushed deliberately by local government.
The tourists are gone. The Feds are gone. The lobbyists are gone. The journalists are gone. But one can still see the local young people who remain in the city, masked and walking their dogs. And the homeless.
(From The Hollywood Reporter)
Rodeo Drive, only three blocks long, has nearly a dozen vacant storefronts and has seen Michael Kors, Lacoste, Tumi, Battaglia and Piaget close; similarly, Melrose Place has seen the shuttering of BLDWN, Rebag and Violet Grey; and Robertson Boulevard has an additional Michael Kors closure, along with All Saints and Ted Baker.
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