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November 16, 2012   Top Story  Nordic, Italian shopping councils become full members of ICSC The International Council of Shopping Centers and the Nordic and Italian councils of shopping centers have inked collaboration agreements. The agreements make the two councils full members of the ICSC. "This is a further step towards a strong and more global ICSC in Europe that is no longer limited by national boundaries," said Alexander Otto, chairman of ICSC’s European Board. SCT Newswire (11/15)   Industry Tracker  Two retail projects under way in South Africa Nedbank Corporate Property Finance and Octodec Investments Limited are partnering to develop a retail and residential complex in Arcadia, South Africa. The Cambridge Shopping Center in the Pretoria central business district is also under construction. World Property Channel (11/15) Birnbrey: Uncertain times for retail real estate Retail real estate can be treacherous because market conditions are outside of the industry's control, said David Birnbrey, chairman and co-CEO of the Shopping Center Group LLC, during an industry event. E-Commerce and such practices as "showrooming" are a problem, he noted. "We're constantly worried about whether our industry will be around," he said. American City Business Journals/Memphis, Tenn. (11/15)   Retail News  Reports: Smaller Black Friday crowds to spend more Thanksgiving openings and more online deals are expected to shrink Black Friday mall crowds to 147 million from 152 million last year, according to NRF. Other reports say the shoppers who do turn out are expected to spend more, driving Black Friday sales 3.1% higher than last year. MediaPost Communications (11/15) What do layaway shoppers have in common? Consumers haven't increased their use of layaway plans this year, despite incentives from retailers including Kmart, Wal-Mart and Toys R Us, but the programs are proving important to a certain group of shoppers. Layaway users tend to share several common characteristics, including lower incomes and a higher level of optimism about the economy, according to NRF and BIGInsight. Forbes (11/15)   Finance & Economics  Consumers could scale back holiday spending as fiscal cliff looms Consumers could scale back holiday spending if they perceive Washington will be unable to negotiate an agreement over the fiscal cliff. A poll from the International Council of Shopping Centers finds that 71% of Americans are following the news of the fiscal cliff. "There could be dire consequence for holiday spending" if Congress doesn’t come to an agreement, says Michael Niemira, an economist with ICSC. Forbes (11/15) Bernanke: Tight lending standards threaten housing market Recovery of the U.S. housing market is being held back by lending standards that are too tight to make sense in this economy, Federal Reserve Chairman Ben Bernanke said. He said tighter standards were previously justified. "However, it seems likely at this point that the pendulum has swung too far the other way, and that overly tight lending standards may now be preventing creditworthy borrowers from buying homes, thereby slowing the revival in housing and impeding the economic recovery," Bernanke said. Reuters (11/15), The Hill/On The Money blog (11/15) Eurozone falls back into recession Germany and France posted modest growth for the third quarter, but it wasn't enough to offset slowing economic activity in the eurozone. Gross domestic product in the bloc declined 0.1% compared with Q2, which also had produced a drop, meaning a second recession in four years, according to Eurostat. Deutsche Welle (Germany)/Reuters/Deutsche Presse-Agentur/Agence France-Presse (11/15), The New York Times (tiered subscription model) (11/15), Market News International (11/15)   Business Best Practices  3 ways to establish your leadership cred If you want to be seen as a leader in your organization no matter your title or position, make sure you have a thorough knowledge of the business, support colleagues' success and focus on contributing to the bottom line, Erika Andersen writes. "In my experience, most bosses want to reward employees who are making the boss' life easier," she writes. Forbes (11/14) The Buzz(CORPORATE ANNOUNCEMENTS) Viejas Casino and Outlets Launch Annual Holiday Toy Drive to Support Local Salvation Army Interested in learning more about advertising with SmartBrief? 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