recession

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Stimulus Worked: Economists

 Stimulus Worked: 
 Economists 
Aug 7, 2009 10:14 AM CDT

Stimulus Worked: Economists

Good news for prez ahead of today's job-loss report

(Newser) - President Obama’s stimulus package appears to have helped the economy bottom out more swiftly, an economists’ report says. Analysts hold that the stimulus boosted economic growth by about a percentage point in the second quarter—not enough to keep the economy from shrinking but enough to slow the pace...

Credit Checks Trap Jobless in Financial Spiral

(Newser) - For many unemployed Americans, a new trend is keeping the prospect of a new job out of reach: detailed credit checks of prospective employees. Once used mostly for government positions, cheap credit checks are now routine at private employers seeking to cull huge applicant pools. Businesses say they're just...

Goldman Analyst Bullish on Stocks' Recovery

Cohen predicts S&P to gain 10% by Jan 2010

(Newser) - A top Goldman Sachs forecaster predicts the recovery in stocks that began in March should hold, Reuters reports. The S&P 500 could rise as much as 10% from its current level to top 1,050-1,100, says Abby Joseph Cohen, the chief of Goldman’s investment policy committee. "...

Cheaper Tide Rises in Hard Times

Procter & Gamble agonizes over risky move

(Newser) - A cheaper Tide is rolling in: The recession-friendly Tide Basic drops some of the high-tech cleaning components—like anti-pilling ability—contained in the detergent’s traditional form, in exchange for a 20% lower price tag, the Wall Street Journal reports. But the decision to release the new Tide was no...

Coffee Shops Grow Weary of Laptop Users

Drink-nursing users told to make way for bigger spenders

(Newser) - The longstanding love affair between coffee shops and laptop users is starting to go off the boil, the Wall Street Journal reports. Big chains still let computer users linger, but a growing number of independent shops, sick of customers nursing a cup of coffee all day when seats are in...

Clock Runs Out on Arena Football League

Owners can't reach agreement on new financial model

(Newser) - The Arena Football League, which canceled its 2009 season to work on its financial model, won’t be back, barring a big surprise. A team official says the league voted to indefinitely suspend operations, and a formal announcement should come soon, the Columbus Dispatch reports. Owners couldn’t agree on...

Tax Revenue Takes Biggest Dive Since Great Depression

(Newser) - US tax revenue is set to shrink 18% from last fiscal year to the current one, ending in October—the largest falloff since 1932, the AP reports. Individual income-tax receipts are off 22%, and corporate revenues have sunk an astounding 57%. “Our tax system is already inadequate to support...

Clunker Cash Turbo-Charges July Dealer Biz

(Newser) - Last week's rush of demand for new cars may may have exhausted the $1 billion earmarked for the "cash for clunkers" program, but struggling auto dealers saw their sales zoom, reports Reuters. Though exact figures aren't yet available, the program was certain to drive car sales to the...

Unemployed Grad Sues College for Tuition

Unable to find work, New Yorker wants her $70K back

(Newser) - After months of looking for work, fed up New Yorker Trina Thompson is suing her college for the $70,000 she spent on tuition. Monroe College's Office of Career Advancement hasn't done enough to help her find employment, the 27-year-old spring graduate claims in a suit filed in Bronx Supreme...

1.5M Jobless Will Lose Benefits by Dec.

(Newser) - As many as 1.5 million Americans will lose unemployment benefits by the end of the year, reports the New York Times. Some 9 million Americans currently receive an average of $300 a week in unemployment, and many in the current recession have failed to find work for a year...

Detroit's Fall Wallops Canada
 Detroit's Fall Wallops Canada 
Aug 1, 2009 5:39 PM CDT

Detroit's Fall Wallops Canada

(Newser) - The collapse of Detroit has turned its Canadian counterpart into a veritable ghost town, the Economist reports. Located just across the Detroit River in Ontario, Windsor depends heavily on the Big Three, and now claims Canada’s highest unemployment rate at 14.4%. But Ontario’s problems go beyond “...

Obama: the Economy Is on the Mend (if Slowly)

(Newser) - Citing fresh evidence that the economy is on the road to recovery, President Obama this morning credited his $787 billion economic stimulus program for helping "put the brakes on this recession," and cautioned that full recovery will take many more months. The country's future economic prosperity depends on...

Ho-Ho-Hold on a Minute, Xmas in July?

Stores launch summer promotions to snag holiday dollars early

(Newser) - It's beginning to look a lot like Christmas in malls across the country as stores angle for some extremely early holiday dollars, the Wall Street Journal reports. Retailers like Toys'R'US, Sears and Kmart have dragged Santa away from his summer break and launched July Christmas promotions, hoping to boost sales...

Tiffany's Little Blue Box Keeps Recession Out

Although new cases tout "Items for under $750"

(Newser) - Amid the global economic downturn, one American institution stands strong: Tiffany & Co. “Tiffany is as American as guns,” writes Cintra Wilson for the New York Times. “Tiffany has always managed to navigate the dark spells of the economic cycle. It has survived the Civil War, two...

Older White Men Take Big Hit From Recession

Middle-aged workers hurt as unemployment hits 70-year high

(Newser) - Typically it’s the young who lose their jobs in a recession, but not in the current slowdown. Aging white workers at the theoretical peak of their earning power are losing their jobs this time around—and they can’t find new ones, USA Today reports. The jobless rate for...

Fed Sees More Signs of Recovery

(Newser) - The economy is finally beginning to show signs of stabilizing in some parts of the US, bolstering hopes of a broader-based recovery this year. A Federal Reserve snapshot of economic conditions issued today finds that most of the Fed's 12 regions indicated either that "the pace of decline has...

Get a Thumbs-Up in Hitchhiking
 Get a Thumbs-Up in Hitchhiking 
TRAVEL
Jul 29, 2009 11:41 AM CDT

Get a Thumbs-Up in Hitchhiking

Expert hitcher talks safety

(Newser) - Hitchhiking, though controversial, remains the epitome of frugal traveling. Ben Bachelder, who has thumbed his way through 35 countries and six continents—including Antarctica—gives the New York Times tips on how to do it right:
  • Start slow: “First-time hitchhikers should go with a friend, just for a little
...

Even in Recession, NYC Best for Singles
 Even in Recession, 
 NYC Best for Singles 
OPINION
Jul 28, 2009 3:48 PM CDT

Even in Recession, NYC Best for Singles

(Newser) - New York may be expensive and unemployed, but high marks for “coolness” and online dating participation have it atop this year’s Forbes list of best cities for singles. As the economy stifles ambition, the dating number has become more significant. “When things are tough, core needs are...

In Recession, Homeowners Nail Contractors

As many vie for projects, consumer gains the upper hand

(Newser) - Hiring a contractor to remodel a kitchen or resurface a floor once meant a lot of hassle and some serious cash. But the recession has changed all that: Contractors these days are ready and willing to work on the cheap, Time reports. Projects are smaller, and spending on remodeling is...

Rolls-Royce Unveils Budget Limo

(Newser) - Rolls-Royce has good news for cash-strapped millionaires: They won’t have to condescend to buy a Bentley, Time reports. The automaker, known for its gigantic limousines, is about to release the Ghost, a short, sleek four-door sedan priced at a mere $245,000. That’s a sight lower than the...

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