The next shoe to drop
The next shoe to drop for the financials, and the larger credit crisis, will be the market's acceptance that mortgage related write-downs are nowhere near complete or close to where they are going, where presently in extreme bubble locales like California, much of the market has been halved, at a minimum.
Footwear firm Brown Shoe Company Inc is to close another distribution centre this year as part of ongoing efforts to realign its business and reduce excess capacity in its network.