recession

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March Retail Sales Show Surprise 1.1% Drop

Blow to hopes that economy has hit trough

(Newser) - Retail sales fell unexpectedly in March, delivering a setback to hopes that the economy's steep slide could be bottoming out. The Commerce Department cited a 1.1% drop, the biggest decline in 3 months and a much weaker showing than the 0.3% increase that analysts expected. Falling auto sales...

Credit Card Debt Spikes on Campus

(Newser) - College students in 2008 carried an average of $3,173 in credit card debt, a huge jump from 4 years earlier, USA Today reports. A Sallie Mae study, when conducted in 2004, revealed an average balance of just $2,169. When students “can’t get private loans, they turn...

In Recession, Teaching, Service Hot Jobs for Grads

Recession will effect talent flow for years to come

(Newser) - The dream of pulling in big bucks just out of college at a prestigious Wall Street job is fading in the face of the recession, and early signs point to public service, government, science, and education as today's emerging hot industries, reports the New York Times. The economy, combined with...

States Ax Programs for Elderly, Kids

(Newser) - States are slashing social services across the US, crippling programs for children and the elderly that might save money in the long run, the New York Times reports. Barack Obama's $787 billion stimulus plan is easing the pain by helping low earners, but at least 34 states are cutting aid...

Zombies Have Come to Save the Day
Zombies Have Come to Save the Day
ANALYSIS
Apr 11, 2009 4:19 PM CDT

Zombies Have Come to Save the Day

Move over, vampires: The undead are monsters for our times

(Newser) - In the echelon of monsters, zombies can’t get no respect. They’re not hip like werewolves or suave like vampires. Yet the undead are staging a comeback, Lev Grosman writes in Time. Woody Harrelson is starring in a zom-com, Juno’s screenwriter is producing a new zombie flick, and...

Frugalistas Rejoice: Recession Is a Validation

'Frugalistas' embrace new thrifty values

(Newser) - Shredding credit cards and buying less may sound like consumer America's version of hell, but some—especially those penny-pinchers long scoffed at as miserly—are downright gleeful. "This validates the choices I've made," one tells the New York Times. With the savings rate up a remarkable 4 points...

'Glimmers' of Economic Hope, But Work's Not Done: Obama

(Newser) - After a meeting today with the administration's top economic officials, President Obama said he’s starting to see “glimmers of hope,” Bloomberg reports. The president noted that government loans to small business are up but cautioned, “We’ve still got a lot of work to do.”...

Religious Tourists Still Flocking to Italy

Easter likely to see 100,000 in St. Peter's Square

(Newser) - While industries around the world feel the weight of recession, Italy’s religious tourism appears fairly immune, USA Today reports. “It's one of the only areas where things haven't slowed down much," said a religious tour marketer. "Religious pilgrims still want to have the same experiences”—...

Turnaround? Don't Get Too Giddy Just Yet

Further decline still possible, they warn

(Newser) - Signs of an economic recovery seem to be sprouting all around, but plenty of skeptics warn against starting the celebration too early, reports the New York Times. Wall Street has been on the upswing the last two months as the credit market begins to thaw and low interest rates aid...

Economy's 'Free-Fall' Nearly Over: Summers

(Newser) - Top Obama economic adviser Lawrence Summers said today that measures to stabilize the economy will have a discernible effect in the next few months, the Hill reports. Loosening credit and an increased flow of inventory from manufacturers means the sense of “free-fall” will dissipate, though jobless numbers will continue...

More Strapped Drivers Kick Insurance to Curb

(Newser) - As the economy sours, a stunning number of drivers are cutting back or dropping their insurance, MSNBC reports—and that has regulators and safety activists worried. “We may be looking at record numbers of uninsured motorists across the nation,” said the president of the Northwest Insurance Council. An...

Liberian Prez's Plea: Don't Let Global Crisis Kill African Gains

This mess is not of Africa's making

(Newser) - Africa is in the midst of a great turnaround, with economies growing and democracy and human rights improving, Liberia’s president writes in the Washington Post. But progress is threatened by a global economic crisis it had no hand in creating. Some $50 billion in income could be lost as...

Celebs Feel Pinch of Recession

Jacko, LiLo among high-profilers with tight finances

(Newser) - We already know the recession has hit celebs like Michael Jackson, forced to auction off his belongings and stage 50 concerts in London to earn cash. But what other stars are feeling the pinch? ABC News reports on a few:
  • Nicolas Cage sold one—yes, just one—of his castles
...

US' Yellow Tail Fever Taints Aussie Wines
US' Yellow Tail 
Fever Taints
Aussie Wines
analysis
Apr 8, 2009 4:15 PM CDT

US' Yellow Tail Fever Taints Aussie Wines

Australia's bargain reputation hurts exports of primo stuff

(Newser) - Droughts, wildfires, and weak currency have hurt Australia's wine exports—but for losing their reputation as premium vintners, the Aussies have no one but themselves to blame. When $7 Yellow Tail flooded US markets three years ago, "Australia made itself synonymous with cut-rate, generic wines," Mike Steinberger writes...

Seeking an Edge, Job Seekers Try Plastic Surgery

Some use loans to finance the investment

(Newser) - Job seekers perking up their resumes with literal facelifts are stimulating the plastic surgery industry even in the grip of the recession, Reuters reports. "People cannot only rely on their skills in this market," says a surgeon whose $6,000 facelift option is popular with the unemployed. The...

Co-Workers Decide Who Gets Axed on New Reality Show

Contestants will have access to coworkers' HR files

(Newser) - The recession is coming to reality TV, in the form of a show that puts employees' fates in the hands of their co-workers. The new Fox effort Someone’s Gotta Go, expected to make its debut within months, will focus on small businesses facing layoffs, Variety reports. “It’s...

Economy Sparked Recent Killing Sprees: Experts

57 kllled in mass murders in past month

(Newser) - With mass murderers having gunned down some 57 people in the last month, many observers say the troubled economy may be triggering the increase in such attacks, the Washington Post reports. “It could be the loss of a job, the loss of a lot of money in the stock...

British Execs Released After Latest French 'Bossnapping'

(Newser) - In the latest demonstration of French employees refusing to take job losses sitting down, workers at a glue factory took 3 British execs and their French manager hostage last night, and released them today, the BBC reports. The “bossnappers” demanded a renegotiation of their severance package from Scapa, which...

Michelle's Cover Dress: $126.75

First lady moves from J.Crew to Talbots

(Newser) - Michelle Obama continues to rock recession chic, this time by appearing on the cover of Essence clad in a $126.75 dress from Talbots, E! reports. A Talbots exec said the company sent clothes to Michelle’s stylist after the inauguration, but her appearance on the cover was a surprise—...

Contractors Bid Hot and Heavy for 'Shovel-Ready' Jobs

States saving big time in fight for contracts

(Newser) - Contractors are scrambling to get in line for stimulus-funded "shovel-ready" jobs, reports the Washington Post, and states are finding their stimulus dollars are going a lot further than expected as a result. Companies that were building subdivisions not so long ago are now competing for government jobs and going...

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