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Essay text:
If he sees scuffed shoes, then he knows things are bad.
Villanova, general manager of Eddie's Shoe Repair in New York's Grand Central Terminal, has seen business drop 25% to 30% since August. The 15-year-old company employs 40 people across five locations in the sprawling train station, shining and repairing shoes and luggage. But lately, selling $4 shines seems to be as hard as unloading mortgage-backed securities.
The condition of commuters' shoes is just one signal of the financial crisis rippling through the business world. Other indicators emerged even before the market meltdown began in September: This summer FedEx (FDX) shipped 10% or fewer overnight envelopes than last summer...
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Common topics in this essay:
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