Tucked away in the inside pages of the Oldham Echo is the occasional admission that the global recession is affecting the local economy. No, really. So while the front page & first couple of inside pages may be given over to self-congratulatory doggerel & C-list local celebrities, the sobering blast of economic reality is channeled into areas of the paper which may be overlooked on a casual reading.
A case in point was its article yesterday that the owner of Liverpool One has offered its retail tenants the chance to pay rent on a monthly basis. Until now the preferred system has been one of quarterly payments (http://www.liverpoolecho.co.uk/liverpool-news/local-news/2009/06/04/liverpool-one-helps-retailers-struggling-with-rents-100252-23786061/ ).
I've made the point before, but it bears repeating: Liverpool One is a retail behemoth, dependent on people's ability or willingness to spend considerable sums of money. Fine when the economy's doing well. The recession, however, lays bare the hollow claims of civic regeneration via "retail therapy". Liverpool One may well end up as the biggest white elephant on Merseyside since the Kirkby ski-slope.