recession

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In Barren Job Market, to Get a Job, Create One

Recession becomes the mother of invention for would-be businesspeople

(Newser) - New businesses are sprouting up across America as unemployed people running out of time and money decide that the only way to get a job is to create one, the New York Times reports. Economists say now is the time in the downturn cycle when "forced entrepreneurship" starts,...

Marketers Bank on Women in Recession

(Newser) - Some recession-wary companies are marketing more to women these days, the Economist reports. After all, women make more than 80% of discretionary buys in America, and are more loyal, product-plugging (or bashing) customers. But one expert says the strategy could turn off male buyers in traditionally masculine marketing areas like...

18% of US Wealth Up in Smoke Last Year

Fed figures show $11 trillion was wiped out Americans' net worth last year

(Newser) - Last year's stock market and housing slumps wiped out nearly a fifth of the wealth of American families, the Wall Street Journal reports. The Federal Reserve announced yesterday that  $11 trillion—more than the output of Britain, Germany and combined—was erased from the net worth of households in 2008,...

Texas Gov. Rejects $556M Stimulus for Jobless

Perry says coverage for unemployed would 'drown' businesses

(Newser) - The governor of Texas has rejected $556 million in federal stimulus money for the state's unemployed, saying yesterday it had too many strings attached, reports the Dallas Morning News. Rick Perry, a Republican, said that the federal rules would burden Texas businesses with new commitments; instead they should be able...

Summer Camp on the Rocks in Tough Economy

Tradition shaken as families' plans up in the air

(Newser) - As recession hits parents’ wallets, it’s forcing many to debate whether they can afford to send kids to summer camp, the Wall Street Journal reports. Camps are expecting more financial-aid requests, while parents look to day camps and cheaper nonprofit alternatives. “A number of camps say families are...

Europe's New Temp Worker Class Bears Recession Brunt

(Newser) - The new class of temporary workers created by European labor reform is suffering most in the current wave of job cuts, the Wall Street Journal reports, testing the new policies amid the threat of backlash. Short-term employees—easier and cheaper to fire than permanent ones—also get fewer unemployment benefits,...

Wall Street's Woes Hit Sesame Street

Drop in donations forcing round of layoffs at Sesame Workshop

(Newser) - The recession is pushing Sesame Street closer to Skid Row, reports the Financial Times. The educational foundation behind the TV show and a variety of community programs is laying off a fifth of its 355 staff. The Sesame Workshop has been hit hard by market turmoil eroding its investments and...

Smokes, Beer Worth More Than Stock

Whole Foods shares worth less than a pound of scallops in their stores

(Newser) - Why settle for the goods when you can get the factory—or a piece of it—instead? Gawker finds more companies whose shares are worth less than products they sell:
  • Have dreams of owning a brewery? Scoop up an Anheuser-Busch share ($20.16) for less than one Bud Light case.
...

In Bruni, French See Marie Antoinette

First lady gets flak as she and Sarko hit the beach

(Newser) - Like most of Europe, France is slogging through a recession and facing climbing unemployment. But president Nicolas Sarkozy and his wife, Carla Bruni, are in Mexico, staying at a $5,500-a-night beachfront villa. The honeymoon's over, reports the New York Daily News, and Bruni is suffering comparisons to another foreigner...

Recession's Latest Victim: Maternity Leave

Struggling moms abandon plans for months, years off work with children

(Newser) - Stay-at-home moms are becoming the next casualty of the recession, the Wall Street Journal reports. Women who hoped to take several months or even years of maternity leave are now scrambling to find work or increase their hours as the family finances crumble. One mom-centric staffing agency has seen a...

Pelosi Says Another Stimulus Is Possible

(Newser) - These days, $787 billion just doesn't go as far as it used to. A meeting of House Democratic leaders and their economic advisers today has raised the prospect of a second stimulus package, the Hill reports. “We have to keep the door open,” Nancy Pelosi said after the...

Think Repo Men Like Recession? Think Again

Victims 'hide' cars, 'fight over them'

(Newser) - Repossession agents must thrive on recession, right? Wrong, reports the Wall Street Journal. “People are doing everything they can now to hold onto what they’ve got,” says the owner of an auto-recovery business, whose revenue plunged 23% in 2008. “Do you think they’re going to...

Airlines Panic as Recession Grounds Passengers

Falling price of oil fails to make up for slump in demand

(Newser) - A steep slide in passengers has airline execs reaching for the panic button, reports the Wall Street Journal. Airlines had banked on the drastic drop in oil prices more than making up for falling demand caused by the recession, but the decline—especially in first and business class—has been...

Lost Your Job? Turn to Those You Kind of Know

Acquaintances can be road to success in tough times

(Newser) - In the professional world, it’s all about who you sort of know, especially when times are hard, Gregory Rodriguez writes in the Los Angeles Times. Job losses may make people withdraw from their friends, but during a recession, acquaintances are the ones who count, often helping pave the way...

Bombed-Out US Economy Blasts Globe Into Recession

Developing nations hit especially hard in first world recession since World War II

(Newser) - The world economy is plunging into its first global recession since World War II, and sending 46 million people in developing countries back into poverty, warns a World Bank report. The global lender is urging leading nations to pledge a portion of their stimulus packages to stem the mounting crisis...

Money Woes Boost Sales of Sedatives, Antidepressants

Jump comes despite dive in marketing dollars

(Newser) - Here's a downer: The sale of antidepressants and sleeping pills have jumped amid the recession, and 31% of Americans asked about their sleeping habits say financial worries are keeping them up at night. The 7% jump in sleep aids comes despite hundreds of millions of fewer dollars spent on their...

'Recession Babies' Will Be Boring But Sensible

Economic upheavals rear careful, dull generations

(Newser) - If history tells us anything, it’s that our modern “recession babies” will grow up to be risk-averse bores. “Today’s youngest children are being raised in the same kind of protective bubble as the Depression babies,” Kate Zernike explains in the New York Times. “They...

American Dream Dies in Our Wallet
 American Dream 
 Dies in Our Wallet 
GLOSSIES
Mar 8, 2009 7:26 AM CDT

American Dream Dies in Our Wallet

Lust for fame and fortune have hijacked the nation's true promise

(Newser) - To the dreary lexical suite that defines our times—greed, foreclosure, stimulus and debt—we must add humility, David Kamp writes in Vanity Fair. Our gluttonous pursuits and ridicule of middle-class life has landed us in the grip of a recession and twisted the shape of the American Dream, he...

Sexy Image Hurts Vegas as Companies Back Off

Sin City bad match for chastened America

(Newser) - Las Vegas has spent years feasting on its naughty image, but Sin City is going hungry in hard times, BusinessWeek reports. Home prices are at half their 2006 peaks, and unemployment has hit a lofty 9.1%. Vegas is reminding businesses that it’s still an attractive convention destination, but...

We May Need a Bigger Stimulus, Say Analysts
We May Need a Bigger Stimulus, Say Analysts
OPINION
Mar 7, 2009 12:35 PM CST

We May Need a Bigger Stimulus, Say Analysts

(Newser) - The lousy unemployment numbers released this week—and they're bound to get worse before they get better—cast the effectiveness of the Obama administration’s fiscal plans into doubt, analysts say. The stimulus package intended to “save or create” 3.5 million jobs now has to keep up with...

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