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July 25, 2008 1:11:20 PM CDT

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Stories related to: downturn

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4 Stories

  • July 2008

    • GM Will Cut Salaried Jobs, Benefits to Survive Slump

      newser  |  Wall Street Journal  |  Jul 15, 08 9:42 AM CDT

      GM Will Cut Salaried Jobs, Benefits to Survive Slump

      General Motors will cut salaried jobs, accelerate factory closings, and eliminate health care coverage for many salaried retirees in order to raise $15 billion to survive the industry's deep downturn, the Wall Street Journal reports. GM will also suspend dividends, sell some assets, lower capital spending, and cut production of pickup trucks and SUVs. More »

      Tags

      US economy  • auto industry  • General Motors  • SUV  • job cuts  • downturn

    • Tech Holds Ground Amid Slump

      newser  |  USA Today  |  Jul 9, 08 7:10 PM CDT

      Tech Holds Ground Amid Slump

      Despite malaise in most sectors of the economy, the technology industry is weathering the downturn well, USA Today reports. Sales are up only 3% this year over 2007—a mediocre result, considering the industry usually grows by more than 10%—but with tech unemployment at 3.9% compared to 5.7% overall, insiders aren't seeing the trouble signs they saw during the dot-com collapse of 2001. More »

      Tags

      credit crisis  • technology  • computer  • tech industry  • growth  • downturn  • sales slump

  • May 2008

    • Even Vegas Is Down on Its Luck

      newser  |  New York Times  |  May 6, 08 8:46 AM CDT

      Even Vegas Is Down on Its Luck

      Tougher times are starting hit the Sunset Strip, the New York Times reports. Las Vegas has been mostly immune to downturns in decades past, but this time the gambling mecca is feeling the pinch as consumers tighten their belts. Hundreds of casino workers have already been laid off, and a long downturn could mean a glut of hotel rooms as boom-time projects are completed. More »

      Tags

      recession  • Las Vegas  • gambling  • casino  • downturn

  • March 2008

    • Most Economists Say Recession Is Here

      newser  |  Wall Street Journal  |  Mar 13, 08 5:00 PM CDT

      Most Economists Say Recession Is Here

      A cascade of bleak financial news has convinced most economists in a Wall Street Journal poll that the US is already in a recession. The results are markedly more negative than a similar survey only five weeks ago, and much of the foul mood can be traced to last week’s dismal employment report. “The evidence is now beyond a reasonable doubt,” said one. Of the 51 economists polled, 71% said recession had arrived. More »

      Tags

      recession  • Wall Street  • economy  • retail sales  • unemployment  • interest rate cut  • payrolls  • downturn

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