All Blog Posts from Econwatch

Swear by them or swear at them, it's impossible to be neutral about Crocs.

Even celebrities have trouble making these shoes cool, hip or good looking – no matter how cool, hip or good looking the celebrities are.

As the economy boomed so did Crocs, 100 million pairs were sold in the past seven years. But now, there's a stunning reversal from a $168-million profit in 2007 to a $185-million loss in 2008, leaving the company with serious debt. Crocs has given 2,000 employees - a third of its work force - their walking papers.

So will they go the way of the earth shoe, mood ring and pet rock? Or will Croc-craving fans come to the rescue?

To watch Katie Couric's complete report, click below:


Watch CBS Videos Online

Goldman, rescued last year by $10 billion taxpayer bailout, is back in the black. It reported a second-quarter profit today of more than $3 dollars - and, it's paid back the loan.

Still waiting for a rebound is the job market. The president said Tuesday we'll have to wait a while longer.

"We will probably continue to see unemployment tick up for several months," Mr. Obama said.

The resident once predicted it would top out at 8 percent. It's now 9.5 percent.

And what looks like a glimmer of hope for the economy may be a mirage. Retail sales rose in June, but it wasn't so much that we were buying more, we were paying more as gas prices spiked.

Watch Katie Couric's report below:


Watch CBS Videos Online