recession

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Group Therapy Gains on Couch in Recession

(Newser) - Increasingly, having a couch to yourself is just too pricey. Group therapy is catching on as people look for a cheaper alternative to one-on-one sessions, the Wall Street Journal reports. And despite the One Flew Over the Cuckoo’s Nest stigma it often endures, participants swear by it. “Group...

Soaring Candy Sales Sweeten Hard Times

Confectioners' profits rise as people seek comfort

(Newser) - Tough times don’t seem to be trickling down to inexpensive candy shops, where adult customers are flocking for a sugar-coated escape from their troubles, the New York Times reports. “People may indulge themselves a little bit more when times are tough,” says an analyst. And indulge they...

Sam, LiLo Bicker Over Money
 Sam, LiLo Bicker Over Money 
Mar 23, 2009 10:18 AM CDT

Sam, LiLo Bicker Over Money

Lindsay spends like crazy but has no cash

(Newser) - The recession has hit even Lindsay Lohan and Samantha Ronson’s romance, the New York Daily News reports. The ever-squabbling pair now fights about money, too: “Lindsay is spending like crazy!” a friend says, but—thanks to a lack of work since 2007—she has no cash flow...

Euro Bank Chief Slams US on Stimulus

Central bank chief says nations must get the last effort right

(Newser) - The head of the European Central Bank says the continent does not need to spend more to combat recession, heightening the standoff between Washington and European governments over response to the financial crisis. In an interview with the Wall Street Journal, Jean-Claude Trichet said governments should concentrate on executing measures...

Jobless Women Turn to Porn, Stripping

(Newser) - With unemployment rising, more women are moving on up by stripping down, the AP reports. The adult entertainment industry, is receiving a barrage of applications from women seeking good pay and job security in fields ranging from porno to exotic dancing. "You're seeing a lot more beautiful women who...

Steinbeck's Laugh Would Echo Down Wall Street
Steinbeck's Laugh Would Echo Down
Wall Street
OPINION
Mar 22, 2009 3:12 PM CDT

Steinbeck's Laugh Would Echo Down Wall Street

Grapes of Wrath author hated US affluence

(Newser) - John Steinbeck would relish our economic decline if he were alive today, writes Rachel Dry in the Washington Post. The author of the Great Depression classic Grapes of Wrath, which is regaining popularity these days, romanticized economic hardship and grieved over the affluence of post-WWII America. "He'd think that...

In Today's Economy, Nannies Must Multitask

(Newser) - As affluent Americans downsize their household staffs, the once distinct lines between nannies and housekeepers are getting a little fuzzy, the Los Angeles Times reports. More and more, nannies are being asked to scrub the toilets along with watching the kids, and housekeepers are being asked to vacuum with a...

Krugman on Toxic Assets Plan: 'What an Awful Mess'

(Newser) - The Obama administration’s new plan for dealing with toxic bank assets is “creating massive moral hazard,” Paul Krugman blogs in the New York Times. The idea of providing taxpayer money to insure the purchase of possibly worthless assets is equivalent to the poor practices laid bare in...

Unable to Fix Economy, Hungary's PM Steps Down

(Newser) - Hungary’s Socialist prime minister will step down so that a leader more adept at managing the country’s dire economic straits can take over, Reuters reports. “I hear that I am the obstacle to the cooperation required for changes,” Ferenc Gyurcsany told a meeting of his party....

Post Office Plans Big Job Cuts

(Newser) - Citing severe losses, the US Postal Service is slashing 1,400 jobs and offering early retirement to 150,000 workers, NPR reports. The post office will also shut down six district offices, but says delivery will not be affected. Hobbled by a 5.2 billion drop in mail volume in...

Chrysler, GM May Need 'Considerably' More US Aid

(Newser) - Chrysler and GM could end up needing a “considerably higher” amount than the $21.6 billion so far requested, Bloomberg reports. Steven Rattner, who heads President Obama’s auto task force, said it's possible the request could go as high as $40 billion. He also said that Chrysler’s...

Fishing Hooks Cash-Strapped
 Fishing Hooks Cash-Strapped 
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

(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

(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

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

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
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

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

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

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...

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