recession

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Revamped Dollar Stores Cash In on Recession

More food, cleaner aisles lure shoppers

(Newser) - When the recession sent pinched consumers hunting for bargains, dollar stores were ready. Cluttered aisles of cheap treasures have been replaced with stocked fridges and neat rows of mustard and canned beans. Half of US households now shop at dollar stores monthly, and 18% more $100,000-plus households started frequenting...

Businessmen Strip Off the Power Suit

As bankers fall out of fashion, so do their stodgy duds

(Newser) - To the list of casualties of the economic crisis, add the three-button power suit. And don't cry for the fashion industry—men are investing in replacements for their cookie-cutter wool security blankets, making men's clothing priced over $100 one of the few bright spots in the bleak retail landscape, reports...

Cash-Strapped Adults Back Home With Prickly Parents

Experts advise on how to avoid resentment when kids have to return to the nest

(Newser) - Tempers are fraying in households across America as tough times force a growing number of adults to move back in with their parents, the New York Times reports. The move is difficult for both sides, experts say, as the offspring chafe at new restrictions and struggle with feelings of failure,...

Stocks Hit Sales Record in Recovery Harbinger

(Newser) - May has already been the busiest month ever in new share offers from publicly traded companies, the Wall Street Journal reports. The $54.9 billion in sales this year put the market at a level of activity not seen since 2000. “It’s an indication that the healing process...

Medicare, Social Security Will Go Bust Sooner

(Newser) - The recession has hurt the already-shaky finances of Medicare and Social Security, the Washington Post reports. Medicare is now projected to run out of money in 2017, two years earlier than the last projection. Social Security, meanwhile, is expected to be insolvent in 2037, four years earlier. The annual report...

Brits Offer Free Rehearsal Space to Tune Up Music Biz

Government gives cash-strapped young bands a helping hand

(Newser) - The British are hoping to give the next Beatles a helping hand by offering free rehearsal space, the Guardian reports. A government program spearheaded by former Undertones singer Feargal Sharkey is opening centers around the country to assist cash-strapped young bands who could potentially blossom into big names—and lucrative...

Recession Dims Lights on Solar Sales

Banks, government cut funding for industry

(Newser) - After a bright 2008, things are looking gloomy for the solar power industry amid the recession, the Wall Street Journal reports. Banks have cut funds for some projects, and the government of Spain, the second-biggest solar power market, has shrunk subsidies. Solar-cell sales are expected to fall by some 20%,...

Fall Enrollment Defies Economy

Freshman commitments hold steady, but at a cost of increased financial aid

(Newser) - Despite the recession, colleges aren't seeing the dip in freshman commitments they anticipated, reports the New York Times. The percentage of accepted students who have confirmed their enrollment at places like Yale, Harvard, and the University of Virginia and Wisconsin is about the same as last year. But it hasn't...

No Recovery In Sight for Small Business

(Newser) - Wall Street and Washington financial gurus may be seeing “green shoots” of economic recovery, but small businesses are still stuck in the mud, Kevin Kelly writes in Newsweek. Kelly, the CEO of a bag manufacturing company, says too many colleagues' businesses are losing sales, laying off workers, or shutting...

Recession Could End in 3rd Quarter: Economists

(Newser) - Our long national nightmare could soon be over: Top economic forecasters expect the recession to end by the second half of this year, Reuters reports. In a new survey, experts predict the GDP will shrink by 2.8% this year but edge up 1.9% in 2010. Even so, economists...

This Mother's Day, She's Likely at Work

Women take on role of breadwinner as 4 of 5 lost jobs hit men

(Newser) - She's chef, cheerleader, and Florence Nightengale to scraped knees, but with the economy stinking like a previously enjoyed diaper, Mom is more and more often also a family's breadwinner, reports NPR. As male-dominated industries hemorrhage jobs, 14% of working moms are taking second jobs, a survey suggests. The recession has...

How to Free Creative You
 How to Free Creative You 


May 10, 2009 7:57 AM CDT

How to Free Creative You

Tips for innovation in troubled times

(Newser) - Tough times tend to foster innovation. If your wallet is feeling a pinch, capitalizing on your creativity may be a way to help, says ABC News. Here are some tips on how to get your brain moving:
  • Let your thoughts wander. Allowing your ideas to roam freely can "trigger
...

Experts Fret as Americans Squirrel Away Income

Savings rate jumps over job, portfolio fears

(Newser) - Even after the economy rebounds, the US will likely remain a nation of penny pinchers—and that has economists worried, the New York Times reports. Consumer spending accounts for 70% of the country’s GDP, but Americans, fretting over job security and losses in the housing and stock sectors, are...

College Grads Face Years of Lower Wages

Economists pile on the bad news for the struggling class of '09

(Newser) - The recession will mean paltry pay for the Class of '09 for many years to come, economists tell the Wall Street Journal. College grads are entering the toughest labor market in 25 years and competition is driving down starting wages for those lucky enough to land jobs, an effect research...

Don't Celebrate Yet, Stock Market
 Don't Celebrate Yet, 
 Stock Market 
OPINION
May 8, 2009 12:11 PM CDT

Don't Celebrate Yet, Stock Market

(Newser) - Don’t get too excited by the stock market’s recent rally. Stocks may go up another 10%-20% this year, says analyst Jeremy Grantham, but after that the market will crash again, and stay that way for years. “We've lost our shirts and we feel poor,” explains Henry...

Time to Stress Out About Stress Tests
 Time to Stress Out 
 About Stress Tests 
OPINION
May 8, 2009 7:22 AM CDT

Time to Stress Out About Stress Tests

Washington is leading us to a second crisis: Krugman

(Newser) - Sure, yesterday's release of the stress tests' results felt pretty anti-climatic. But while bankers might be reassured, Americans have no reason to be, writes Paul Krugman. For the New York Times columnist, the less-than-rigorous stress tests are part and parcel of an Obama administration strategy to "muddle through the...

Best and Worst Celeb Moms
 Best and Worst 
 Celeb Moms 
OPINION
May 7, 2009 12:50 PM CDT

Best and Worst Celeb Moms

Mother's Day survey reveals holiday activities, too

(Newser) - In a poll of 10,000 readers ahead of Mother's Day, more would trust their kids to Jennifer Aniston than Brangelina, ParentDish.com reveals. More from the survey
  • Most trustworthy babysitter: Ellen DeGeneres and her partner Portia De Rossi.
  • Best mom: Jennifer Garner, followed by a tie between Reese Witherspoon
...

Recession Strikes Noses as Thrifty Delay Laundry

Recession prompts thrift at the laundromat

(Newser) - The recession may be making the US a little smellier, the Pittsburgh Post-Gazette reports. Americans are scrimping on laundry by buying cheaper detergent, dry cleaning less often and—in the case of 60% of shoppers, according to one poll—wearing clothes multiple times between washings.

Europe's Jobless Thrive as US Counterparts Struggle

European safety nets make joblessness easier, recovery more difficult

(Newser) - On either side of the Atlantic, different narratives are playing out among the unemployed, the Wall Street Journal reports. While Americans left jobless by the recession struggle to pay insurance and bills, Europe’s social safety nets provide many with the majority of their former incomes and cover health-care costs....

Stress-Tested Banks Need Just $100B

Investors find causes for optimism in capitalization news

(Newser) - Leaked results of the stress tests on America's biggest banks separate sufficiently capitalized banks—including JPMorgan Chase, MetLife, AmEx, and Goldman Sachs—from underfunded ones such as BofA, Wells Fargo, and Citi. Bank shares rose sharply yesterday and today, and some investors said the results were better than they feared....

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