recession – News Stories About recession - Page 36

Mar 19, 2009 3:20 PM CDT

Fishing Hooks Cash-Strapped

Growing number of Americans going fishing as times get tougher

(Newser) - The floundering economy means boom times for America's angling industry, Reuters reports. Bait-shop owners say they've had one of the best winters in memory as layoffs and cutbacks give workers a lot more free time to fish. Families are finding a day fishing makes a good alternative to costlier outings—...

Auto-Parts Suppliers
Get Own $5B Bailout

Mar 19, 2009 2:31 PM CDT

Auto-Parts Suppliers Get Own $5B Bailout

(Newser) - The US will provide $5 billion in aid to the nation’s auto-parts manufacturers, a sector struggling because of the tenuous financial situation of Detroit’s Big Three car companies, the Wall Street Journal reports today. Many parts makers face bankruptcy, as they have not been paid for product delivered....

Wal-Mart Gives Workers $2B in Bonuses, Rewards

Mar 19, 2009 11:42 AM CDT

Wal-Mart Gives Workers $2B in Bonuses, Rewards

(Newser) - The recession has been kind to Wal-Mart, and it’s decided to share the wealth with the wage slaves. The mega-discounter will dole out about $2 billion in financial incentives to its hourly workers, Reuters reports, including $933.6 million in bonuses and $788.8 million in profit-sharing and 401(k)...

In Recession, NBC Page Gig Loses Luster

Mar 18, 2009 2:15 PM CDT

In Recession, NBC Page Gig Loses Luster

Once, $10/hour job launched careers; now, breeds bitterness

(Newser) - Stop by NBC’s Rockefeller Plaza headquarters for a tour, and you’ll be shown around by cheerful 20-somethings, cheerfully working 50-hour weeks for $10 an hour. Why? Because this is the NBC page program! Michael Eisner started as a page, as did Steve Allen, Willard Scott and others. But...

In Japan, Tough Times Send Women to the Altar

Mar 18, 2009 12:37 PM CDT

In Japan, Tough Times Send Women to the Altar

Women turn to marriage as route to financial stability

(Newser) - In Japan, when the economy tanks, marriage—and two paychecks—starts to look more attractive to working women, reports Bloomberg. “I want to get married soon, hopefully by the end of this year,” says one Tokyo woman. “I’d be more stable financially if I had double...

MBA Programs Face Their Role in Financial Crisis

ANALYSIS

Mar 17, 2009 3:50 PM CDT

MBA Programs Face Their Role in Financial Crisis

(Newser) - Executives have taken a lot of blame for the financial crisis, whether for focusing on short-term gains in stock price or placing too much faith in ultra-complex financial instruments, writes Bradford Plumer for the New Republic. But what about the business schools that taught them to manage that way in...

Recession Creates Nation of Potty Mouths

Mar 17, 2009 3:30 PM CDT

Recession Creates Nation of Potty Mouths

F-bombs a popular way to react to your 401(k) statement

(Newser) - The state of the economy has made for a lot of bad news, and bad news makes for a lot of cussing, MSNBC reports. “I’ve been dropping the F-bomb every time I look at the Dow,” said one 35-year-old writer. “You see that number and you...

French Demand
for Sex Toys Fizzles

Mar 17, 2009 8:25 AM CDT

French Demand for Sex Toys Fizzles

Worried consumers cutting kinky goods from their budgets at exotic fair

(Newser) - The economic downturn has thrown cold water on France's usually robust demand for sex toys, lingerie, and other naughty goods, Reuters reports. Organizers of the world's largest erotic fair, which opened near Paris last week, say that while attendance is still healthy, sales of kinky products are down around a...

Recession Lifts
Auto Repair Shops

Mar 17, 2009 7:16 AM CDT

Recession Lifts Auto Repair Shops

People aim to keep cars running rather than buy new ones

(Newser) - For car mechanics, the recession has its perks: Americans are flocking to repair shops to ensure their vehicles run longer in tough times, CNNMoney reports. Automotive Service Association members have seen a 16% boost in sales compared to last year. “In relative terms, that $1,000 repair to keep...

'Massive' Asset Purchases Likely Loom for Bernanke

Mar 17, 2009 7:05 AM CDT

'Massive' Asset Purchases Likely Loom for Bernanke

Fed expected to step up purchase of mortgage securities

(Newser) - The Federal Reserve is expected to step up its buying of mortgage securities after policymakers meet today and tomorrow, Bloomberg reports. The outlook for the economy and job market has gotten bleaker since the Federal Open Market Committee last met 6 weeks ago and analysts believe Ben Bernanke is likely...

Boob Jobs Latest Aids
in Boom, Bust Cycle

Mar 17, 2009 5:17 AM CDT

Boob Jobs Latest Aids in Boom, Bust Cycle

Breast jobs balloon as workers try to catch employer's eye

(Newser) - When the going gets tough, the tough get boob jobs. That's the theory from some British experts who point out that breast augmentation surgery has ballooned 30%. Laid-off female employees have time for recuperation—and apparently hope to capitalize on the boost bigger breasts appear to give women workers when...

Amid Recession, Obama to Prod Weary DNC Donors

Mar 16, 2009 4:20 PM CDT

Amid Recession, Obama to Prod Weary DNC Donors

(Newser) - President Obama is set to address a Democratic fundraiser later this month—the first such event of his presidency—but the money might not flow from donors cowed by recession and overextended after the recent election, Bloomberg reports. “Nonetheless,” said a White House deputy press secretary, “the...

Foreclosure Crisis
Stings Renters, Too

Mar 16, 2009 3:35 PM CDT

Foreclosure Crisis Stings Renters, Too

(Newser) - You probably don’t want to live in the Chandler, Ariz., housing complex known as Alante on the Islands, MSNBC reports. The development was once owned by a California company, but entered receivership when the overextended firm went under. Now maintenance is spotty, the pool has turned green, residents don’...

In Credit Crisis,
Italians Turn to Mafia

Mar 16, 2009 12:54 PM CDT

In Credit Crisis, Italians Turn to Mafia

Uncle Tony will be happy to lend you this money you need for a very reasonable APR

(Newser) - In Italy, there’s one industry profiting from the credit freeze: Organized crime. Thanks to its unparalleled liquidity, the mafia has become the lender of choice for many small Italian businesses, NPR reports. An estimated 180,000 have turned to so-called “stranglers,” or loan sharks, who charge annual...

Recession Blues Rot Big Apple

OPINION

Mar 16, 2009 11:45 AM CDT

Recession Blues Rot Big Apple

(Newser) - Sure, people everywhere are suffering from the recession, but most of the country is managing to deal with it. Not New York. The Big Apple is “perpetually freaked out,” writes Hugo Lindgren in New York. The city is so packed with people, Lindgren theorizes, that it’s “...

Spend, Baby, Spend
—or We're Sunk

OPINION

Mar 15, 2009 6:38 PM CDT

Spend, Baby, Spend —or We're Sunk

(Newser) - Our massive economy will remain stuck until hoarders open their wallets and "roll the dice" once again, Daniel Gross writes in Newsweek. Investors and consumers alike must regain their "penchant for gain and risk... some of the essence of what makes us American." Until that caffeinated, delirious...

US Drilling
Boom Stalls
for Oil, Gas

Mar 14, 2009 3:10 PM CDT

US Drilling Boom Stalls for Oil, Gas

(Newser) - It doesn't pay to drill, baby, drill anymore. Falling world prices have brought an end to the boom in domestic drilling for oil and natural gas, the New York Times reports. Last summer, 2,400 gas and oil rigs were deployed in the hunt for energy. Today, that figure is...

G-20 Vows to Spur Lending

Mar 14, 2009 1:53 PM CDT

G-20 Vows to Spur Lending

(Newser) - The world's top financial officials promised a three-tiered approach to battling the global economic slowdown today, the Wall Street Journal reports. At the G-20 summit in England, finance ministers vowed to inject money into the IMF and other institutions to lend to struggling countries, while tackling banks' toxic assets and...

Recession
Harbinger:
Less Trash

Mar 14, 2009 1:15 PM CDT

Recession Harbinger: Less Trash

(Newser) - The current recession was fairly clear to a certain segment of the population as far back as late 2007, the Washington Post reports—landfill operators. Since then, dumps and garbage collectors have seen a steep drop-off in trash—in some cases up to 30%—along with their own jobs. It's...

Bartering Makes a Comeback

Mar 14, 2009 12:28 PM CDT

Bartering Makes a Comeback

(Newser) - Around the world, websites that enable users to trade goods and services for the same are thriving in the down economy, the Washington Post reports. Craigslist, for instance, says bartering on the site has doubled in the past year. One Washington man got a plumber in exchange for a ride...