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IPOs are jumping and the Nasdaq is up—some mid-summer economic indicators point toward a recovery, but you wouldn't know it from retail reports. Circuit City, Good Guys, and Harvey Electronics are singing the blues, while discounter Costco is whistling all the way to the bank.

Call it the comeback kid. Only a year ago, electronics retailer Best Buy Company was on the brink of disaster. Reeling from rapid expansion---34 new stores in two years---and suffering from an industry-wide sales slump, the retailer was said to be close to defaulting on some large-scale loans. Customers were being offered no-interest long-term credit as an inducement to buy anything on the sales floor.

The US economy took a severe downturn last year following the terrorist attacks of September 11, and this year has been hit by the stock market's decline in the wake of the accounting scandal–fueled collapse of Enron and WorldCom, Inc. Electronics retailers have ridden out the slump fairly well, buoyed by a consumer trend toward "cocooning," or putting their disposable income into their homes. For most retailers, the popularity of DVD and home theater has offset diminishing sales of stand-alone audio.

Is retailing headed up or down? North America's two largest electronics retailers have reported vastly different results for the second quarter.

The terrorist attack of September 11 will likely worsen an already dark period for American retailers. The Dow Jones Industrial Average declined by more than 14% in the week after the attack, the largest slide since the week of July 21, 1933. In the present circumstances, Americans are generally reticent to spend money, according to many reports, a situation that will affect manufacturers and retailers for months or years to come.

Drummer Billy Higgins started his remarkable career backing up R&B musicians such as Amos Milburn and Bo Diddley around the LA area before embarking on his jazz path with the Jazz Messengers (led by Don Cherry and saxophonist James Clay) and Dexter Gordon. But it was his association with Ornette Coleman, starting in the mid 1950s, that electrified the jazz world and made him a force to reckon with. His first recordings, with Coleman and Red Mitchell, were released in 1958. In 1959, he performed with both Coleman in New York and Thelonious Monk in San Francisco, and from that point on, he never stopped recording or touring.

Three-dimensional modeling, 4-pi anechoic chambers, and laser inteferometry were but a few of the industrial marvels revealed in early March to a group of Stereophile and Stereophile Guide to Home Theater scribes. The group convened Tuesday, March 7, at Revel headquarters in the massive Harman International complex in Northridge, California, for an inside view of the company's research, development, and manufacturing operations, organized and led by Madrigal president Mark Glazier. Madrigal is Harman's Middletown, Connecticut-based high-end operation, with the Proceed, Mark Levinson, and Revel lines under its jurisdiction.