recession

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More Americans Brew at Home
 More Americans Brew at Home 
Apr 21, 2009 1:44 PM CDT

More Americans Brew at Home

Recession spurs Americans to make their own beer

(Newser) - Home brewing has grown in popularity as Americans with increasingly sophisticated taste in beer look to cut costs, Time reports. Despite layoffs and bankruptcies nationwide, a couple in Connecticut just opened Maltose Express, a beer-brewing supply shop, and are already doing brisk business. Home brewers also gather there to share...

Life Tough for 'TARP Wives'
Life Tough for 'TARP Wives'
OPINION
Apr 21, 2009 11:42 AM CDT

Life Tough for 'TARP Wives'

While media blitz stresses CEO hubby, spouse pinches those bailout pennies

(Newser) - Things aren’t easy for still-relatively-rich Wall Street execs and their spouses. “I haven’t even looked at spring clothes,” writes an anonymous, self-proclaimed “TARP wife” in Portfolio. “God forbid someone catches me out in something new.” Her husband, like most CEOs, is “scared...

'Giving-While-Living' Philanthropy Dies in Ireland

Philanthropists clench fists as wealth evaporates

(Newser) - Like the rest of the recession-plagued world, Ireland isn’t as affluent as it used to be, but the country is especially weakened now that declining wealth is denting its burgeoning culture of philanthropy, GlobalPost reports. Three years ago, the Irish were Europe’s second-wealthiest citizens, but bad assets have...

Livid Wall Streeters See Themselves as Victims

(Newser) - Main Street doesn’t hold a monopoly on victimhood, Gabriel Sherman writes in New York. From AIG execs and their disappearing bonuses to Wall Street bankers who get dirty looks, the once-privileged feel like they’re shouldering too much blame. “It is difficult to sympathize with these people,”...

Green Marketing Blossoms Despite Recession

'Eco-friendly' products are selling even as consumer spending dwindles

(Newser) - Manufacturers of eco-friendly products are finding themselves in the green despite the sputtering economy, Advertising Age reports. One research company reports 458 launches of products that claim to be sustainable or environmentally friendly in 2009, a trend that—if it holds—would triple the number of green launches last year...

Amish Finally Cotton to Unemployment Checks

Church elders ease restrictions to help workers weather recession

(Newser) - Some Amish have decided unemployment benefits are one modern invention they can’t afford to shun, reports the Los Angeles Times. The shrinking supply of affordable farmland has forced a growing number of Amish men into factory work in recent years, and church elders relented on restrictions on government aid...

Exxon Retakes Top Spot in Fortune 500

Wal-Mart slips to second in 'worst-ever' year for the 500

(Newser) - Exxon Mobil snagged a whopping $443 billion in revenue to unseat Wal-Mart from the top spot in this year's Fortune 500 list, CNN reports. The two behemoths thrived on jacked-up oil prices and the recession respectively, but the picture was a lot bleaker for most of the rest of the...

'Recession Angels' Help the Struggling

(Newser) - The recession has led to some antipathy toward moneyed Americans, but the haves are not casting a blind eye to the have-nots' troubles, ABC News reports. Colleges across the country are seeing millions in anonymous donations designed to save endowments, and at least one hospital has spared hundreds of jobs...

Economy Saps Sarkozy's Approval Ratings
Economy Saps Sarkozy's Approval Ratings
ANALYSIS
Apr 17, 2009 3:14 PM CDT

Economy Saps Sarkozy's Approval Ratings

'Action-man president' looks powerless on crisis

(Newser) - Nicolas Sarkozy should be well positioned to gain political capital from the global recession, having warned against capitalist excess years before the crisis quashed pro- deregulation argument. But the French president’s approval rating keeps dropping, the Economist reports. It fell another 2% in April, to 36%. As the crisis...

Calif. Unemployment Hits Record 11.2%

(Newser) - The unemployment rate in California rose to 11.2% in March, the Los Angeles Times reports today. A loss of 62,100 jobs puts the state at the highest jobless level since 1976, when recording started. It trails only Michigan (12.6%), Oregon (12.1%), and South Carolina (11.4%)....

Don't Get Excited, Crisis Isn't Over: Krugman

Tough times ain't over—and we can't afford 'complacency'

(Newser) - We’re hearing about “glimmers of hope" from policymakers, but the president’s biggest lefty naysayer has a word of warning: “Don’t count your recoveries before they’re hatched,” Paul Krugman writes in the New York Times. “Premature optimism” has been disastrous during previous downturns,...

Old Days&mdash;Good and Bad&mdash;Are Back: Noonan
Old Days—Good and Bad—Are Back: Noonan
OPINION
Apr 17, 2009 10:36 AM CDT

Old Days—Good and Bad—Are Back: Noonan

In slump, simple pleasures are chic as traditional values gain

(Newser) - Reading about a Michigan family that shed modern excess in favor of a self-sufficient farm life didn't strike Peggy Noonan as shocking in these economic times. Her fellow New Yorkers have already begun responding to the same forces, causing Noonan to predict the rise of "a certain authenticity chic,...

Herd Mentality Moves Many to Needless Penny-Pinching

Psychology has everyone spending less, even those who don't need to

(Newser) - Amid the economic distress, many people who can spend as freely as they could before aren’t, the Washington Post reports. Such consumers, economists say, take psychological cues from friends and the media and pinching pennies needlessly—which only helps deepen the downturn. Upper-income consumers cut spending from $185 in...

New Home Construction Down 11% in March

Slow pace projects that market dive hasn't run its course

(Newser) - Housing construction plunged to the second-lowest level on record last month, providing a sobering sign that the worst housing slump in decades has not ended. Construction of new homes dropped by nearly 11% , the second-lowest construction pace in records that go back 50 years. The decline was worse than economists...

Recession-Hit Gym Rats Find Cheaper Ways to Work Out

Home exercise takes off in lean times

(Newser) - Americans trying to cut back on both flab and expenditures are finding ways to go without costly gym memberships and exercise equipment, reports the Wall Street Journal. Sales of exercise DVDs and simple exercise equipment like yoga mats are booming. Experts say fitness is more important than ever in a...

Jobless Japanese Work the Land

$10M government program trains new agricultural force

(Newser) - As their country struggles with its worst recession since World War II, many Japanese city slickers stymied by the job market are trying out the farming life, the Wall Street Journal reports. Aiming to rejuvenate an industry in which two-thirds of full-time workers are 65 and older, the government has...

Funeral Biz Reels as More Opt for Cheaper Cremation

Recession takes a toll on pricey burials

(Newser) - It's sometimes said that death is the only recession-proof industry, but current trends seem to prove that axiom wrong, CNN writes. Funeral homes across the country are reporting a decline in profits—not because fewer people are dying, of course, but because more people are opting for cremation and scrimping...

As Bank Moratoriums End, Foreclosures Surge

(Newser) - As internal bank moratoriums on foreclosure imposed last year expire, many more Americans are losing their homes, the Wall Street Journal reports. Foreclosure proceedings were up 6% in February over January, and up 30% from March 2008. Just as the Obama administration's rescue plan kicks in, delinquents who don’t...

'08 Saw More Raises for CEOs: Survey

(Newser) - More American CEOs than not received raises in 2008, Reuters reports. An AFL-CIO poll of 946 chief executives saw 480 with increased pay, while 463 took a cut. Salaries were up 7%, too; execs with raises earned an average of $5.4 million, while those who saw cuts took in...

Obama: We're Not 'Out of the Woods Just Yet'

(Newser) - President Obama said today that the US faces a long slog in finding its way out of financial tumult, but emphasized that he is seeing signs of hope, the New York Times reports. "Times are still tough," he said. "By no means are we out of the...

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