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Thanksgiving is over, time to dress up this turkey.

Home improvement retailer Home Depot is pinning a lot of hope to the 2007 Christmas shopping season. And well it should because according to marketing firms the combine pressures of mortgage rate concerns, rising fuel prices and slipping consumer confidence have battered the sector's annual sales figures. Regardless of cause home retailers are trying to pump up sales with online specials and unique items. The question remains will it work and will consumers be enticed enough to shell out hard earned cash in the face of gloomy economic predictions?

In truth most consumer's minds are more likely wrapped around the gloomy real estate market and chaotic equities trading of the past few months more so than economist's predications. Many times the trigger of a recession is more psychology than economics, though the end result is always the same. That said energy prices are sapping available cash from the family budget and poor annual results in some sectors means smaller holiday bonuses. This translates in to less expendable cash for the average shopper and this will definitely have in impact on the holiday shopping season.

Home Stores Dress Up for a Tough Holiday

The nation's beleaguered home retailers — stung by declining consumer confidence, slumping home sales, tighter credit standards and rising fuel prices — are fighting hard to attract Yoder and others in a last-minute rush of customers to help make up for what's been a tough year.

"Customers still want to feel good about their homes," said Craig Menear, executive vice president of merchandising for Home Depot. "We took a bigger swing in holiday items this year, because we know that when times are more difficult, consumers want to take care of their homes."

Retailers generally expect this holiday season to be a nail-biter, with most expecting only small gains in sales volumes compared with last year. It's even worse for the home retailers — consumers nationwide are forecast to spend only around $94 on home and holiday furnishings this season, down from last year's $115, according to Deloitte's annual holiday survey.

The mortgage spiral continues to shake consumers and worry economists, and it looks like the worst isn't over yet. The September Case-Shiller price survey found that home prices fell in all 20 major cities that the index covers. Included was Seattle and Charlotte which have both resisted a broader market trend downward. Correction seems inevitable across the nation, though the severity will most likely be determined by local conditions.

Home prices falling everywhere: Down 4.5% nationally over past year

Home prices fell in September in all 20 major cities covered by the Case-Shiller price index, even in cities that had been holding up before the August freeze in mortgage markets, Standard & Poor's reported.

"There is no real positive news in today's data," said Robert Shiller, chief economist at MacroMarkets LLC, and the co-developer of the index. Shiller said it's nearly impossible to forecast when the market could turn around.

Call it the "black hole of Wall Street" or whatever you wish but it looks as if the mortgage related securities fall out seriously poses a threat to both corporate earnings and the chances of avoiding a recession. CNN published a graphic on Monday that illustrates the size of 3rd quarter write losses vs. 4th quarter announced write downs. But the blood letting isn't limited to just large firms; a report today suggests that Bank of Granite could face possible delisting due to "issues in its bank subsidiary's loan portfolio" which forced the organization to delay filing third quarter results with the SEC.

Bank of Granite faces possible delisting

Bank of Granite Corp. has received notice of a possible delisting of its stock because of noncompliance with NASDAQ rules.

The notice was issued as a result of the company's delayed filing of its third-quarter results with the Securities and Exchange Commission.

On Monday, the Granite Falls-based bank said a review of its loan-loss provisions prompted the delay.

Bank of Granite released its preliminary results Oct. 16, estimating a $1.4 million loan-loss provision and net income of nearly $4.1 million, or 26 cents per diluted share.

Since then, the company says it has discovered "issues in its bank subsidiary's loan portfolio" that lead it to believe its loan-loss provision will be higher than estimated.

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Despite the cyclical nature of manufacturing it seems that Freightliner is doing well, which is a welcome thing for blue collar jobs in the Charlotte Metro region. The company says that it will begin construction on a corporate campus in York County, SC. Initial plans are small, around $10 million, but could grow into a $400 million project. The South Carolina bid beat out a competing bid from Iredell County. The Portland based company also stated that it currently had no intentions of moving its corporate office at this time.

This latest development would seem to support the notion that development in the Charlotte area is quickly moving south along the I-85 and I-77 corridors. Recent speculation in property prices and planned construction also indicates that many believe this expansion will continue in spite of trouble in the financial sector as well as looming problems with the broader economy.

Freightliner moving division to York County campus

Freightliner is preparing to move a division to York County, where the truckmaker will anchor a 300-acre corporate campus overlooking a Lake Wylie tributary.

The company will start with a 341-job, $10 million office at a site on S.C. Highway 274. From there, the investment could grow to a 3,000-employee headquarters, sources say.