An update on the blog yesterday about UC Irvine management professor Robert Mancuso, who sent me photos of how empty the multimillion dollar parking lot is at the swanky Fashion Island mall in Newport Beach. His theory: the higher the number of empty spaces, the lower the CPI. The photo he sent was taken Monday evening, and I said that isn't exactly prime shopping time. So he went back yesterday and snapped a photo during what IS prime shopping time: noon. Not much change...still more than 300 spaces empty on the top level, and even 150 spaces empty on the first floor. Expect to see more sales...
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