What should Ruby Tuesday do to ensure its success? ... and more

Ruby Tuesday plays a vital role in the Blount County economy. As it and other casual dining restaurants face a challenging market, we’d like our readers’ feedback on what Ruby Tuesday can do to ensure success in coming years. Please send your feedback by Tuesday at 5 p.m. to onlinepressclub@thedailytimes.com. Please include your name, address and phone number for verification purposes. A selection of comments will be published at a later date.

Stocks fall on Goldman downgrade of banks

NEW YORK — Wall Street resumed its slide Monday as investors absorbed a gloomy outlook for the banking sector as well as bleak news about housing. The major stock market indexes each fell more than 1.5 percent, with the Dow Jones industrial average giving up more than 200 points.

Concerns about the banking sector dominated the session. Goldman Sachs Group Inc.’s downgrade of large banks, and its estimate that Citigroup Inc. would have to write down $15 billion over the next two quarters due to its exposure to risky debt, unnerved Wall Street.

Other sectors suffered big hits during the session, including homebuilders and airlines.

The Dow industrials fell 218.35, or 1.66 percent, to 12,958.44.

Broader stock indicators also declined. The S&P 500 index fell 25.47, or 1.75 percent, to 1,433.27, and the Nasdaq composite index fell 43.86, or 1.66 percent, to 2,593.38.

Dollar slips against euro, yen; rises against pound

NEW YORK — The dollar slipped against the euro and the yen Monday as a major investment bank offered a grim outlook for major banks and a homebuilders’ group delivered a bleak housing forecast.

The 13-nation euro bought $1.4667 in late New York trading, slightly above its level of $1.4659 Friday.

The dollar also declined against the Japanese currency, falling to 109.85 yen from 110.82 yen late Friday.

But the dollar edged up against the pound, as the British currency slipped to $2.0497 Monday from $2.0515. The dollars also rose to 98.31 Canadian cents from 97.48 cents last Friday.

This week’s Thanksgiving break in the United States, along with a three-day weekend in Japan, led to thin trading.

The dollar has suffered against the euro recently from speculation that the U.S. Federal Reserve will continue cutting interest rates even as the European Central Bank holds, or even increases, its rates.

Wal-Mart seeks time warp from Astronomer Royal

As retailers wrangle with reluctant consumers this holiday season, Wal-Mart is trying an experiment in time warps for stressed shoppers.

The world’s largest retailer said it is asking London’s Royal National Observatory to declare that this Saturday officially be named Friday so that the big shopping day after Thanksgiving can go on for two days.

It was a tongue-in-cheek statement from Wal-Mart Stores Inc., but retailers are struggling in earnest to fuel holiday sales after a poor October blamed on higher gas prices, rising heating fuel costs, tightening credit, lower home values and recalls of dangerous toys.

Retailers have pulled out a slew of tricks already, from deep discounts to early shopping hours, ahead of the day dubbed “Black Friday” that kicks off the traditional holiday shopping season.

Wal-Mart said it will unveil Black Friday discounts online starting Thanksgiving Day and will offer additional in-store deals on items like home electronics and toys beyond what it is publishing in circulars this week.

CBS News writers give union bosses power to call strike

NEW YORK — CBS News writers authorized their union leaders to call a national strike, the Writers Guild of America said Monday, escalating a labor impasse.

About 500 CBS News television and radio writers — who work in New York, Los Angeles, Washington and Chicago — have been working under an expired contract since April 2005.

CBS News, a division of CBS Corp., said the vote was “unfortunate,” calling its latest offer “fair and reasonable.”

In a prepared statement, the company said it “remains fully prepared, and ready to continue producing the highest quality news programming.”

In a vote held last Thursday, the union said 81 percent of the 300 writers who participated gave WGA negotiators the power to call a work stoppage.