Cobblers in Stitches Thanks to Recession

As shoe repair industry shrinks, shops go online for remote customers

(NEWSER) - The shoe repair industry has shrunk drastically in the past decades, and what cobblers remain have taken to the Internet for customers. More than a million pairs are sold in the US each year, but there are only 7,000 repair businesses left, down from 120,000 80 years ago. Now, needy hoofers can just pack up their tired soles and send them off to be renewed. Some cobblers even send you a box. More»

Columbus, Indiana, and Casper, Wyoming top employment list

(NEWSER) - Recession—that's a big-city thing, right? Several mid-size cities around the US are making an argument for their economic superiority, boasting job growth higher than the 1.5% national average in 2011. You may not know these cities well, but the Christian Science Monitor recommends them:

1. Columbus, Indiana: No, not Ohio's Columbus: Indiana's version had 10% growth from 2009 to 2010, making it the best economic rebounder during the Great Recession. Jobs are up 6.4%.

Data don't support hysterical headlines

(NEWSER) - Fears of a double-dip recession is running high, but economic data suggest that they are unfounded. Writing in the Wall Street Journal , Milton Ezrati of the money management firm Lord Abbett explains:

1. The consumer is regaining strength: A 1.4% decline in retail sales for May gave rise to double-dip fears, but that was after 10% advance over the past 12 months. Meanwhile, household income is on the rise, and Americans are saving more—suggesting they can keep up current spending while paying down debt.

Ann Kirkpatrick wants to take $8,700 hit—first since Depression

(NEWSER) - Many lawmakers are calling on Congress to once again forego its annual raise, but Arizona Democrat Ann Kirkpatrick is taking things a step further, proposing an $8,700 pay cut. That would amount to 5% of a House member’s base salary of $174,000, and $4.7 million in total savings. “Families across the country are getting by on lower wages … and these folks pay our salaries,” Kirkpatrick reasons. More»

Yacht fuel eating up too much of your budget? You're not alone.

(NEWSER) - Still looking for ways to cut costs in these tough economic times? Let these actual rich people, as overheard by Nell Scovell, guide you. She recounts their advice in Vanity Fair :

• “With diesel at the marina up over $3 a gallon, we’re trying to keep the Hinckley’s motor off and let the sails do more of the work.”
• “We got rid of the dog-walker; I like to run with the pinschers on the beach for exercise, anyway.”