Early Afternoon Update

Retailers expected to offer massive discounts this weekend to spur consumer spending. [WSJ]

Some record real estate buys of ’08 (multimedia). [WSJ]

No decisions on the future of the above-ground portion of the Fulton Street transit hub. [Downtown Express]

Construction Financial Management Association index shows a sharp decline since June in industry confidence. [GlobeSt]

Average bonus for rank-and-file Wall Street employees will be cut substantially. [NY Times]