recession

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'He-Cession' Is Death Knell for Male Dominance

Recession has sped end of 'era of male dominance'

(Newser) - Macho men caused this recession, and they’re going to pay the price: for the first time in history, they’ll cease to be the dominant force in society, writes Reihan Salam in Foreign Policy. Signs of the turning tide can already be seen in the US, as male-dominated industries...

Appalachian Hikers Trudge Through Recession

Trail provides temporary respite from worldly woes

(Newser) - They won’t find Mark Sanford, but those hiking the Appalachian Trail are finding an escape, however temporary, from the recession, writes Thomas Pierce for NPR. On the trail, hikers get new identities: nicknames like “Pusher,” an ibuprofen-hawking walker who was an office manager in a previous life....

Stocks Mixed; Dow Off 34
 Stocks Mixed; Dow Off 34 
MARKETS
Jun 26, 2009 3:22 PM CDT

Stocks Mixed; Dow Off 34

Tech a bright spot amid gloom over slow recovery

(Newser) - Stocks ended mixed today as worries over the continued effects of the recession trumped data showing improved consumer sentiment and personal income, the Wall Street Journal reports. Tech stocks did the best, making the Nasdaq the only index to finish in the green. The Dow fell 34.01 points to...

Retailers Slash Selection in Response to Recession

(Newser) - A fundamental shift is going on in the consumer product world as retailers decide that less is more, the Wall Street Journal reports. Big national retailers are expected to slash selection by at least 15%, analysts say. Gone will be 30% of Kroger’s cereals, 20 of the 24 tape...

Cafés Squeezed as France Turns to Le Sandwich

Thousands of small eateries shut, but McDonalds is booming

(Newser) - France used to be the home of the three-hour lunch, complete with wine, cheese, and maybe some spirits to push indolent workers through the rest of their day. But times have changed, and so have eating habits—these days, reports the Washington Post, the French are scarfing down sandwiches in...

Credit Crisis Snips Ranks of Super Rich

Millionnaires' club gets smaller as investments plummet in value

(Newser) - Won't somebody think of the poor millionaires? The global financial crisis has hit the world's "super rich" hard and left many of them merely extremely wealthy, the Financial Times reports. The number of "ultra high net worth individuals" with over $30 million to invest shrank by nearly...

Buffett: Economy Still in 'Shambles'

It'll take a while to 'wring out excesses'

(Newser) - The US economy is still in “shambles” even though the crisis in the financial system has abated, Warren Buffett told CNBC today. “It takes a while,” the investor said. “There were a lot of excesses to be wrung out and that process is still underway.”...

Fed Keeps Interest Rates at Record Low

Economy picking up, but not enough that inflation is a worry

(Newser) - The Federal Reserve says the recession is easing, but that the economy likely will remain weak and keep a lid on inflation. Against this backdrop, the Fed held a key bank lending rate at a record low of between 0% and 0.25%, and pledged again to keep it there...

Celtic Tiger Hangover Pounds Dublin Bars

Busted Celtic Tiger forces dozens of restaurants, nightclubs out of business

(Newser) - Once the poor man of Europe, Ireland rode a breathtaking economic boom that transformed Dublin into one of the region's swankiest capitals. But now that the Celtic Tiger has gone bust, the ambitious restaurants and exclusive lounges of the new Dublin are closing their doors. Cash and credit have dried...

Recession Will End This Year
 Recession Will 
 End This Year 
OECD report
Jun 24, 2009 6:53 AM CDT

Recession Will End This Year

But growth will be sluggish through 2010, says Paris development group

(Newser) - The US recession will end this year, but fragile financial markets and sapped consumer wealth will keep the pace of recovery sluggish, an influential Paris-based economic prognosticator said today. The OECD—Organization for Economic Cooperation and Development—predicted that the US economy will shrink by 2.8% this year and...

Recession Puts Damper on July 4th Fireworks

Towns plan cheaper festivities—or none at all

(Newser) - With times tight, many US towns are toning down their Independence Day festivities, the Washington Times reports. Rather than deal with the cost of pyrotechnics, police overtime, and even liability insurance, municipalities are scaling back on the big bangs and even switching to simpler ideas such as poetry contests, dog...

Goldman Readies Record Bonuses

Recession doesn't curb bank's bounty

(Newser) - A wildly successful first half is pointing to the best year ever for Goldman Sachs, and that means record staff bonuses in the midst of the recession, the Guardian reports. Revenues have soared at the bank, which now has little competition; it promised in April that half of its nearly...

Baby Boomers Will Start Next Biz Craze
 Baby Boomers Will 
 Start Next Biz Craze 
ANALYSIS
Jun 20, 2009 5:05 PM CDT

Baby Boomers Will Start Next Biz Craze

(Newser) - The baby boomers may be pushing 60, but they're primed to lead another "entrepreneurship boom" in America, Dane Stangler writes in the American. After all, according to one study, it's the close-to-retirement-age crowd—not 20-something whippersnappers—that has led US entrepreneurial activity since it last picked up in...

Recession Drives Boom in Auto Fraud

(Newser) - Car-insurance fraud spurred by the recession is continuing unabated, Newsweek reports. “Give-ups”—feigning theft or arson to collect insurance money on an unwanted vehicle—are up 24% this year over last, according to an industry group. And claims stemming from suspicious car fires are up 27%. “Normally...

New Kids Scrap Aussie Tour, Blaming Recession

(Newser) - The New Kids on the Block have canceled a planned tour of Australia because of weak ticket sales amid the recession, Reuters reports. “We are, in fact, in the middle of a worldwide recession and we just cannot make it work,” said Donnie Wahlberg. He said the group...

Bush Knocks Obama Policies
 Bush Knocks 
 Obama Policies 
Jun 18, 2009 12:38 PM CDT

Bush Knocks Obama Policies

Says private sector is solution to economic problems

(Newser) - George W. Bush is apparently done holding his tongue. He criticized several of President Obama's major policy issues in a speech yesterday, defending his administration on interrogation, assailing nationalized health care, and saying the private sector, not the government, was key to fixing the economy, the Washington Times reports. “...

Retail Exodus Speeds Detroit's Fall

Retailers jump ship as recession, auto industry's collapse hit city hard

(Newser) - The auto industry's woes have sped up the long decline of retail in Detroit, the Wall Street Journal reports. America's 11th-largest city now lacks a single outlet from any national grocery chain downtown. Starbucks has just four stores in the city of 900,000, and as of last week, Motor...

Veggie Gardens Thrive in Lean Times

Seed sales set records amid recession

(Newser) - Sales of vegetable seeds are skyrocketing this season and experts say it’s not just the local food movement or Michelle Obama’s First Garden that’s driving the craze. Americans hit hard by the recession are slashing grocery bills by growing their own, as evidenced by a 30% spike...

Posh Salvation Army Centers Sputter in Downturn

(Newser) - A multi-billion-dollar plan to install upscale Salvation Army community centers in US cities has hit the recession skids, the New York Times reports. Joan B. Kroc, widow of McDonald’s founder Ray Kroc, left $1.8 billion for the Army to build some 30 complexes featuring pools and ice rinks....

Anti-Biz Obama 'Loathes Profit Motive': Barnes

(Newser) - “Anti-business may be too crude a label” for President Obama, Fred Barnes writes in the Weekly Standard, but America's leader certainly "has a dark view of profits." Surveying Obama's appointments, policies, and remarks about business, Barnes concludes that "Obama loathes the profit motive or at least...

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