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FRIDAY, NOVEMBER 27, 2009
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NEWS ABOUT: economic downturn

economic downturn stories: 113 news summaries

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(Newser) - Main Street doesn’t hold a monopoly on victimhood, Gabriel Sherman writes in New York. From AIG execs and their disappearing bonuses to Wall Street bankers who get dirty looks, the once-privileged feel like they’re shouldering too much blame. “It is difficult to sympathize with these people,”... More »

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executive compensation • recession • financial services • investment bankers • tax policy • Obama administration • Wall Street bailout • economic downturn

OPINION

 Bono: 'It's Not 
 Charity, It's Justice' 

Singer-turned-activists says Easter is time to reflect on priorities

Apr 19, 09 5:41 AM CDT
(Newser) - Bono returns to his New York Times guest columnist spot a week after Easter with a spiritual meditation about the holiday and economics. The season of Lent is not just a time for individual reflection, opines the singer, but also for rethinking our social priorities. Of global projects like the... More »

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Bono • aid • Easter • economic downturn

(Newser) - The recession has led to some antipathy toward moneyed Americans, but the haves are not casting a blind eye to the have-nots' troubles, ABC News reports. Colleges across the country are seeing millions in anonymous donations designed to save endowments, and at least one hospital has spared hundreds of jobs... More »

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philanthropy • college • scholarship • recession • kindness • economic downturn • hard times

(Newser) - President Obama said today that the US faces a long slog in finding its way out of financial tumult, but emphasized that he is seeing signs of hope, the New York Times reports. "Times are still tough," he said. "By no means are we out of the... More »

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recession • speech • economy • Obama administration • financial crisis • President Obama • economic downturn

(Newser) - After a meeting today with the administration's top economic officials, President Obama said he’s starting to see “glimmers of hope,” Bloomberg reports. The president noted that government loans to small business are up but cautioned, “We’ve still got a lot of work to do.”... More »

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recession • unemployment • economic stimulus package • Obama administration • President Obama • economic downturn • factory orders • government loans

(Newser) - Top Obama economic adviser Lawrence Summers said today that measures to stabilize the economy will have a discernible effect in the next few months, the Hill reports. Loosening credit and an increased flow of inventory from manufacturers means the sense of “free-fall” will dissipate, though jobless numbers will continue... More »

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recession • economic stimulus package • Obama administration • President Obama • economic downturn • Lawrence Summers • TARP • National Economic Council • Economic Club of Washington • free fall

Men's Skivvy Sales Spell
More Trouble

Stimulus package or not, underwear metric indicates downturn

Apr 9, 09 9:41 AM CDT
(Newser) - More bad news, this time from the men’s underwear department. One of former Fed chairman Alan Greenspan’s favorite metrics for predicting changes in consumer spending was the sales of men’s skivvies, the Huffington Post reports. It seems that sales are projected to decline 2.3% this year,... More »

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economic indicators • Alan Greenspan • consumer spending • underwear • boxers • economic downturn • men's underwear

(Newser) - The key issue behind both the global economic and climate crises is exactly the same: “mispricing risk,” Thomas L. Friedman writes in the New York Times. “We have been mispricing risk in both arenas,” he contends, “producing a huge excess of both toxic assets... More »

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climate change • environment • global economy • Thomas Friedman • carbon taxes • financial crisis • economic downturn

(Newser) - US employers cut an estimated 742,000 jobs in March, a larger drop than expected, Bloomberg reports. The figure, from a report based on private payroll data, comes days before the Labor Department is expected to make a similar announcement. If the numbers prove accurate, it would mean that employers... More »

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recession • unemployment • US economy • Department of Labor • job cuts • economic downturn

(Newser) - Security patrols for next week's G20 summit, take note: A protest in London today drew an estimated 35,000 people, about three times as many as expected, the Guardian reports. Organizers of the march—a coalition of unions, church groups, and charities—are pushing for movement on “jobs, justice,... More »

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environment • London • England • protests • global economy • job • G20 • summit meeting • economic downturn • march

(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... More »

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severe weather • charity • salmonella • Girl Scout cookies • financial crisis • economic downturn • peanut butter

(Newser) - Car owners sideswiped by the economy have spurred a nationwide wave of arson and abandonment—last-ditch attempts to collect on insurance, the Wall Street Journal reports. Auto arson claims rose 6% nationally in 2008; in some particularly speculative states, the rate jumped as much as 18%. “Lots of desperate... More »

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crime • Las Vegas • recession • arson • insurance fraud • cars • economic downturn

Iconic Depression Setting Makes Do Amid Recession

Could things get as bad for Sallisaw, Okla., as they did in the 1930s?

Mar 24, 09 5:46 PM CDT
(Newser) - Many have made the parallel between the current economic slump and the Great Depression. Interested in pursuing the connection, Rafael Alvarez visited Sallisaw, Okla., an icon of the troubled 1930s as the setting of John Steinbeck’s The Grapes of Wrath, he writes for the Christian Science Monitor. The downturn... More »

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Oklahoma • Great Depression • downturn • economic downturn • John Steinbeck • recession depression • The Grapes of Wrath

(Newser) - As affluent Americans downsize their household staffs, the once distinct lines between nannies and housekeepers are getting a little fuzzy, the Los Angeles Times reports. More and more, nannies are being asked to scrub the toilets along with watching the kids, and housekeepers are being asked to vacuum with a... More »

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children • recession • multitask • nanny • cleaning • homeowners • housekeeper • economic downturn

 China-India Friction 
 Rises Amid Downturn 

But tensions persist between two boom economies

Mar 20, 09 8:23 AM CDT
(Newser) - With US demand shrinking, China is looking to India to keep its exports buoyant and buy everything from iron ore to stuffed animals. But although China is its largest trading partner, India's not happy: this year it banned toy imports for safety reasons, and the country has lodged a dozen... More »

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China • India • globalization • exports • Chinese exports • economic downturn

(Newser) - NBC CEO Jeff Zucker said today that Jon Stewart’s Daily Show attacks are “incredibly unfair to CNBC and the business media,” Broadcasting & Cable reports. “CNBC is a spectacular organization and in particular Jim Cramer,” Zucker continued. “What is going on now is absurd.... More »

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Wall Street • NBC Universal • Jeff Zucker • CNBC • Jon Stewart • The Daily Show • Jim Cramer • economic downturn

(Newser) - President Obama will speak today at a town hall meeting in deep-red Orange Country, Calif.—though maybe the “conservative stronghold” tag is weakening, the Los Angeles Times reports. Hundreds swarmed the event site for tickets, even camping out overnight to get them in an area that gave Obama... More »

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Orange County, California • town hall meeting • Obama administration • Wall Street bailout • President Obama • economic downturn

 G-20 Vows to Spur Lending 


Mar 14, 09 1:53 PM CDT
(Newser) - The world's top financial officials promised a three-tiered approach to battling the global economic slowdown today, the Wall Street Journal reports. At the G-20 summit in England, finance ministers vowed to inject money into the IMF and other institutions to lend to struggling countries, while tackling banks' toxic assets... More »

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International Monetary Fund • recession • credit crisis • G20 • emergency lending • economic downturn • emerging economies

 Bartering Makes a Comeback 


Mar 14, 09 12:28 PM CDT
(Newser) - Around the world, websites that enable users to trade goods and services for the same are thriving in the down economy, the Washington Post reports. Craigslist, for instance, says bartering on the site has doubled in the past year. One Washington man got a plumber in exchange for a... More »

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Craigslist • recession • trading • website • economic downturn • barter • bartering



  Circuit City Powers Down 

Electronics retailer offers one more day of deep discounts

Mar 8, 09 10:13 AM CDT
(Newser) - Today is the last day to benefit from the deeply slashed prices at the nation's closing Circuit City stores, NPR reports. Not everyone is pleased with the remaining selection of unwanted laptops and lonely printers, but shoppers are still finding deals, and the soon-to-be jobless employees seem to be doing... More »

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bankruptcy • Circuit City • Chapter 11 • financial crisis • economic downturn • big-box retailers • recession depression • going out of business sale

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