recession

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Recession Puts Brakes on Divorces
Recession
Puts Brakes
on Divorces
Jul 13, 2009 12:04 PM CDT

Recession Puts Brakes on Divorces

Would-be exes stay under one roof to avoid real estate losses

(Newser) - A lot of unhappy couples are staying together—or at least staying under one roof—thanks to the recession, the Wall Street Journal reports. Many would-be exes are putting off breakups, unwilling to sell their houses in a down market or unable to afford new ones. Some even continue to...

Recession Cuts Into Prison Sentences

States opt for cheaper routes to justice

(Newser) - With the recession squeezing their finances, many states are opting to cut the high costs surrounding incarceration—meaning fewer criminals are heading to jail and prison, and more are getting out earlier, the Washington Post reports. Some states are sending drug offenders and drunk drivers to special courts that allow...

Chicago Paper's 'Profit' Model? Reader Donations

Independent Chicago paper is way ahead of its time

(Newser) - As media outlets struggle to find ways to become profitable again, “the Chi-Town Daily News is way ahead of its time,” writes Foster Kamer for Gawker. A recent article ended with a message asking for reader donations to recoup the $726 it cost to run. “Yes, they...

Paralyzed Dems Ignore Slow-Burn Crises: Krugman

(Newser) - When the economic crisis turned terrifying last winter, Washington finally got its act together and passed a massive stimulus package. But now, writes New York Times columnist Paul Krugman, the US faces a slower but more dangerous "jobless recovery" over the next few years and an "utterly terrifying"...

Obama: Time to Rebuild Stronger Than Ever

President confident that nation will emerge from recession better than before

(Newser) - Fresh off a whirlwind world tour, President Obama is turning his attention once again to his domestic agenda. In a Washington Post editorial, Obama says his administration’s “swift and aggression action has helped pull our financial system and our economy back from the brink.” But the president...

Obama: No 2nd Stimulus
 Obama: No 2nd Stimulus 
Jul 11, 2009 8:49 AM CDT

Obama: No 2nd Stimulus

(Newser) - President Obama dismissed the idea the nation needs a second stimulus to jolt the economy out of recession in his radio address today, and urged Americans to be patient with his recovery plan. Faced with rising unemployment numbers and criticism from Republicans who have already labeled the $787 billion injection...

Recession Delivers Double Whammy to Legal Aid Offices

(Newser) - The recession has crippled funding for legal aid even as it has bumped up the number of people requesting representation, McClatchy reports. Though the federal government ramped up spending this year—and plans an even bigger increase for 2010—state funding and private donations have cratered, forcing legal aid to...

Bruni to G8: Don't Let Recession Kill AIDS Funding

We've made progress—now don't let economy destroy it

(Newser) - Carla Bruni-Sarkozy gets in the op-ed game today, urging G8 leaders who are converging on L’Aquila, Italy, to continue the commitment their predecessors made 8 years ago to fighting HIV/AIDS in Africa. The earlier initiative helped the Global Fund to Fight Aids, Tuberculosis and Malaria save some 4 million...

While US Dallies, France Spends Its Stimulus

(Newser) - France has a reputation for stifling bureaucracy and long vacations, but when it comes to stimulus spending, the country is racing ahead of the US. This summer, workers are completing massive renovation projects not just for roads and rails, but to museums and cathedrals, and royal palaces. According to the...

Recession Sparks Dating Boom
 Recession Sparks Dating Boom 
Jul 5, 2009 4:35 PM CDT

Recession Sparks Dating Boom

(Newser) - Interest in online matchmaking and dating events is up as recession-plagued singles seek stability, the AP reports. OkCupid.com and eHarmony.com both report huge spikes in membership, and attendance at Chicago’s Nerds at Heart has doubled. "With such a tenuous climate right now, I think people are...

Hell's Kitchen Chef Sees Profits Fry

Ramsay pours millions into failing biz, admits 'ambition overtook me'

(Newser) - Burned by plunging profits after a year of dizzying expansion, Hell’s Kitchen star Gordon Ramsay admits he bit off more than he could chew. Profits at Gordon Ramsay Holdings, which the fiery chef co-owns with his father-in-law, have dropped 90%, forcing the pair to pour more than $8 million...

Top 5 States of Confusion
 Top 5 States of Confusion 
OPINION
Jul 3, 2009 12:14 PM CDT

Top 5 States of Confusion

(Newser) - It’s not easy being an elected official in a time of crisis, but a select few governors are having a particularly tough time. And some of them are even trying to get reelected. Politico looks at the 5 worst-off states:
  • California: No surprise here. The state's issuing of IOUs
...

We're Doomed Without Another Stimulus: Krugman

Jobs report offers scary echoes of 1930s stagnation

(Newser) - Yesterday's grim jobs report is the clearest sign yet that the US desperately needs another fiscal stimulus, writes Paul Krugman in the New York Times. This is 1930s redux: a Democratic president has pushed through an insufficient program, while strapped state governments cancel out federal spending with their own budget...

Bleak Jobs Report Raises Red Flags on Recovery
Bleak Jobs Report Raises Red Flags on Recovery
ANALYSIS
Jul 3, 2009 5:54 AM CDT

Bleak Jobs Report Raises Red Flags on Recovery

Weak labor market expected to cause longer recession

(Newser) - So much for those so-called green shoots of recovery. Yesterday's worse-than-expected unemployment report has far more red flags of warning on the jobs front, writes Moira Herbst in BusinessWeek. Among them: the average work week shrank to 33 hours, the lowest on record; hourly earnings remained flat; long-term unemployment rose...

June Jobless Rate Hits 9.5%, a 26-Year High

363K job cuts predicted

(Newser) - Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5% and suggesting that the economy's road to recovery will be bumpy. The Labor Department report released today, which shows 100,000 more jobs shed than expected, indicates that even...

Upscale Street Vendors Spark NYC Food Fight

(Newser) - Old guard NYC food vendors are serving up a side of invective with their hot dogs, aimed at upscale newcomers disturbing the traditional order, the Times reports. In the last year the recession has pushed white-collar workers of all stripes onto the street, but the newbies don’t understand—or...

Recession Forces Tough Choices for Smokers

(Newser) - The recession—coupled with a historic increase in the federal tobacco tax—is hitting smokers pretty hard, MSNBC reports. “We had a light bill that needed to be paid, so we paid a third of it so we could have cigarette money,” said one who’s tried to...

Ad Slump KOs Vibe
 Ad Slump KOs Vibe 
Jun 30, 2009 3:33 PM CDT

Ad Slump KOs Vibe

(Newser) - Hip-hop magazine Vibe is ceasing operations today, the New York Times reports. The publication has been in dire financial straits, and its chief said it had sought new investors or a plan “to restructure the huge debt on our small company” to no avail. Though Vibe reported healthy circulation...

Looking for Work? Better Have a Job Already

Another hurdle for job-seekers as unemployment nears 10%

(Newser) - Finding a job when unemployment is at 9.4% is hard enough. But the recently laid-off have another hurdle to contend with: Many employers are most interested in attracting candidates who are still working, the Wall Street Journal reports. “If they’re employed in today’s economy, they have...

Demand for 'Must Have' Camaro Dwarfs Supply

(Newser) - Recession be damned, desire for the 2010 Chevrolet Camaro far outstrips supply—and some dealers are even charging a premium for the sporty new ride, USA Today reports. “Our current production schedule can’t meet the demand,” a General Motors spokesman said. But “that supply-demand tension is...

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