Economy Spells Weary Christmas for Toy Charities

Yuletide economics dissected

(NEWSER) - Christmas is coming, and the "voluntary December calamity" of destruction of billions of dollars in value is under way, writes George Will. People will splurge on gifts their relatives and friends don't want or need, and the discrepancy between the cost of the present and its value to the recipient adds up to wasted billions, Will writes in the Washington Post . More»

(NEWSER) - Habitat for Humanity has received a $100 million gift from a developer in the largest contribution in the charity’s history, the AP reports. J. Ronald Terwilliger said he hoped the gift would “inspire others to make the commitment to support affordable housing.” Habitat says the money will help build 60,000 homes nationwide. A philanthropy watcher said the show of generosity was “remarkable.” More»

(NEWSER) - Thanks to the economy, the peanut scare, and ugly winter weather, Girl Scout cookie sales are down 20% nationwide this year, the Boston Herald reports. Key programs are in danger of being cut, but the spirit of the young troopers is undimmed. “Not a lot of people on my street have breaks” at work, one youngster said. “I figure they can at least eat cookies.” More»

Boots, joke books, comfort clothes score big in recession

(NEWSER) - Christmas shoppers are thinking small this year, and the gifts they're buying reveal how Americans are coping with recession, USA Today reports. Here's a list of today's trends:

• Practical: Nearly half of the most popular items searched for online were boots, according to one mall inventory service. Gifts that help people organize and save time, like USB flash drives, are also popular.

Families struggle to save traditions on Tiny Tim budgets

(NEWSER) - Few things ruin the holidays like losing a job. Yet that's what's happening to thousands of Americans just as they were planning to treat friends and families to gifts and holiday gatherings. The turnaround is excruciating as families struggle to save traditions on extremely tight budgets, reports the New York Times. Lavish feasts are being transformed into potluck get-togethers, and parents are turning to churches and synagogues for gifts for their children. More»