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Some inauguration viewers were fascinated by the historical tidbit that President Barack Obama took the oath of office on Abraham Lincoln’s Bible.
Others were more interested in the J. Crew sage green leather gloves that Michelle Obama wore to hold the Bible for her husband — not to mention the pale pink and royal blue wool coats the Obamas’ daughters wore, also from J. Crew.
Indeed, a lot of viewers apparently decided that they must own the gloves and coats themselves. In an interview with my colleague Liz Robbins at The Caucus blog, Jenna Lyons of J. Crew said, “It’s an incredible validation to have the First Family like what you’re doing.”
Maybe too much of a validation.
By Tuesday afternoon, the Web page on J. Crew’s site that features women’s gloves had crashed. By Wednesday morning, the whole women’s section of the site had crashed. Later in the day, the entire site was down, with a note that said, “Stay tuned…Sorry, we’re experiencing some technical difficulties right now (even the best sites aren’t perfect). Check back with us in a little while.”
J. Crew’s Web site joins the many media sites that could not keep up with the surge of inauguration Web traffic. Many of the sites that promised to stream live video of the inauguration struggled or failed to provide a steady stream because of the influx of traffic.
Early Tuesday, J. Crew, which designed the children’s coats and velvet ribbon belts especially for the Obama girls, posted a note — “Congratulations to the first family” — on its home page.
Later, the company added another note — “Yes, they wore Crewcuts” — with a link to shop the brand’s Crewcuts children’s collection.
The outfits were designed exclusively for the Obamas and are not available from J. Crew, though “highlights” from the inaugural outfits may appear in the fall 2009 collection, the company said. Still, all that promotion apparently swamped the site.
“It’s just the sheer number of users coming on,” said Matthew Poepsel, vice president of performance strategy at Gomez, a firm that tracks Web site performance. “It can swamp an application’s infrastructure and lead to poor user experience at exactly the wrong time.”
If a Web company expects a surge in traffic, it can prepare by building up capacity, Mr. Poepsel said. If the traffic is unexpected, though, it can be hard to fix the problem after the fact. More and more often, “with the pace of the Web and how information gets out, no one can predict when this will happen,” he said.
Of all the brands the Obamas wore, J. Crew’s site showed the most impact. But other brands also got some benefit.
Michelle Obama’s day and evening dresses were the talk of the town, and on Tuesday, the names of the designers of those dresses, Isabel Toledo and Jason Wu, were the 70th- and 11th-most-searched terms on Google, according to Google Trends. On Wednesday, though, Isabel Toledo fell off the list and Jason Wu had sunk to 55, while J. Crew came in at 33. (Mr. Wu’s Web site and the site of Ikram, the Chicago boutique where Mrs. Obama shops, appear to be having no troubles.)
Perhaps fans of the Obamas’ style are seeking a more affordable way to imitate the new first family. “Michelle Obama has proved that high fashion can be affordable,” J. Crew said in a statement.
For decades, the success of NASCAR’s brand of high-octane, fender-banging stock-car racing has been intertwined with the fortunes of the U.S. automotive industry. NASCAR victories represented a nod to Detroit’s ingenuity. And showroom sales, in turn, were credited to the exploits on race day. As the marketing adage went: “What wins on Sunday, sells on Monday!”
But with the Big Three U.S. automakers struggling to survive, they have begun to dramatically scale back their financial involvement in NASCAR, threatening the economic model that has driven the sport’s popularity. Other corporate sponsors that helped transform stock-car racing from a workingman’s pastime into the country’s dominant form of auto racing also are scaling back their investment as a result of the sagging economy. Some companies may not renew their commitments — many of which run more than $10 million — when current contracts expire.
WASHINGTON — The number of homeowners ensnared in the foreclosure crisis grew by more than 70 percent in the third quarter of this year compared with the same period in 2007, according to data released Thursday.
By the end of the year, RealtyTrac expects more than a million bank-owned properties to have piled up on the market, representing around a third of all properties for sale in the U.S.
That’s bad news for anyone who lives nearby and wants to sell their home. While foreclosure sales are booming in many areas, those properties are commanding deep discounts and pulling down neighboring property values. “It has a pretty significant impact in terms of pricing,” said Rick Sharga, RealtyTrac’s vice president for marketing.
RealtyTrac monitors default notices, auction sale notices and bank repossessions. More than 250,000 properties were repossessed by lenders nationwide in the third quarter, 81,000 of which were taken back last month.
Six states _ California, Florida, Arizona, Ohio, Michigan and Nevada _ accounted for more than 60 percent of all foreclosure activity in the quarter, with California alone making up more than a quarter of all U.S. foreclosure filings.
Detroit and Atlanta were the only cities outside California, Florida, Nevada and Arizona to make RealtyTrac’s list of the 20 hardest-hit metropolitan areas.
The combination of sinking home values, tighter mortgage lending criteria and an economy that many economists think has already slipped into recession has left hundreds of thousands of homeowners with few options. Many can’t find buyers or owe more than their home is worth and can’t refinance into an affordable loan, with the global credit crisis making loans far less available.