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WEDNESDAY, NOVEMBER 25, 2009
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NEWS ABOUT: economic downturn

economic downturn stories: 113 news summaries

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Glossies

 Tough Times Force 
 Gen Y to Buckle Down 

Young talent may have to stay put, but Managers need to keep them engaged

Jan 5, 09 8:05 PM CST
(Newser) - They're just out of school, but Millennials—the Gen Y techies who expect jobs-a-plenty and accommodating bosses—are hitting career walls in a plunging economy, the Economist reports. These Internet-savvy job-hoppers are cringing as managers get tough and autonomy withers. “The recession is creating lower turnover, but also higher... More »

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shrinking workforce • business manager • career • millennials • economic downturn

(Newser) - Coffee is pretty serious stuff in Portland, Oregon, but a relatively new shop on the block is taking the preparation of caffeinated beverages to a rarified extreme, the New York Times reports. The Ladybug Organic Coffee Company requires applicants for barista positions to fill out a five-page application, complete... More »

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coffee • personality • Portland, Oregon • barista • economic downturn • coffee shop • job application • essay

(Newser) - Up and down the East coast, cash-strapped shoppers are trading in gold and silver, not at pawn shops, but at the mall, the Boston Globe reports. Merchants at kiosks buy the precious metals for less than half of market value, but customers are still pouring in. “It's certainly... More »

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recession • mall • gold • jewelry • gold prices • financial crisis • economic downturn

ANALYSIS

Recession Shreds Publishing Industry; Is Literature Next?

Until outfits learn to cope with digital challenges, it'll be a tough go for writers

Dec 23, 08 4:04 PM CST
(Newser) - The publishing industry has been battered in the past month, as large houses hemorrhage editors and consolidate divisions, leading some to wonder if literary publishing will ever be the same, Jason Boog writes on Salon. The list of ills is long: too-high advances paid to a dwindling number of sure... More »

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press • literature • book • corporate governance • ebooks • publishing industry • economic downturn

Shoppers
Turn to Funny, Useful Gifts

Boots, joke books, comfort clothes score big in recession

Dec 21, 08 5:05 PM CST
(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
... More »

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recession • Christmas • holiday shopping • economic downturn • Christmas shopping • presents

OPINION

Invest in Gardens, Where Yields Make Wall St. Blush 

25-to-1 return includes benefits 'that, literally, money can’t buy,' seed-seller says

Dec 19, 08 3:35 PM CST
(Newser) - With the economic outlook darkening, there’s still one good investment that will help you weather the downturn, George Ball writes in the Atlanta Journal-Constitution: a garden. The “astonishing garden-grown return on investment is not modern-day speculative sleight-of-hand, but real, tangible and fungible,” the chairman of the Burpee... More »

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food • gardening • investment • local produce • seeds • financial crisis • economic downturn • home garden • Burpee

Economy Spells Weary Christmas for Toy Charities

Donations off as much as 30%, some say

Dec 18, 08 3:04 PM CST
(Newser) - Across the country, charities that dole out gifts to underprivileged kids have seen donations fall off steeply compared to last holiday season, USA Today reports. Some are reporting as much as a 30% decline in giving as the economy flags. “Families that would normally have been helping us... More »

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toys • charity • donation • Christmas • gift • Salvation Army • financial crisis • economic downturn • presents

ANALYSIS

Cash-Poor Newspapers Decamp From Washington

Cost of covering DC wins out over concerns about informing the public

Dec 18, 08 2:43 PM CST
(Newser) - US newspapers are shuttering their Washington bureaus—though hardly for lack of news, the New York Times reports. Consolidation and a steep fall-off in ad dollars have forced many to reevaluate their coverage in recent years, leading to a focus on local news and a reliance on agencies for coverage... More »

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newspaper • politics • Washington DC • local news • print journalism • economic downturn • political coverage

ANALYSIS

 4 Financial Doomsday Scenarios 


Dec 17, 08 11:20 AM CST
(Newser) - James Rickards is far more pessimistic about the economic crisis and its global implications than most of his analyst colleagues, Politico reports. But he’s also well respected by US intelligence and defense services. Here are four of his nightmare scenarios.
  • Terrorism: Al-Qaeda has long sought to disrupt the
... More »

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China • terrorism • depression • recession • national debt • euro • credit crisis • US dollar • financial crisis • economic downturn • recession depression

(Newser) - OPEC has approved a cut in output of 2.2 million barrels of crude a day, the largest reduction ever, MSNBC reports. The consortium believes that stabilizing prices now by decreasing supply will guard against a price spike when consumer confidence increases. OPEC’s monthly report predicts that demand will... More »

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OPEC • recession • crude oil • oil production • oil prices • gasoline prices • economic downturn • reduction

GM Picks Mets Over Yankees for Ad Dollars

Cash-poor automaker wants toehold in NYC but 'can't do both'

Dec 16, 08 4:14 PM CST
(Newser) - General Motors, citing the poor economic climate and its shortage of cash, has declined to renew its sponsorship of the New York Yankees, Bloomberg reports. The struggling car manufacturer will, however, re-up with the New York Mets. “We still want a presence in New York and we can’t... More »

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New York Mets • New York Yankees • General Motors • auto industry • Big Three • baseball • corporate sponsorship • financial crisis • economic downturn

(Newser) - Barack Obama’s economic advisers are devising a new stimulus package that could top $1 trillion over 2 years, the Wall Street Journal reports. Insiders say the $500 billion plan considered last month is too cautious given America’s mounting economic woes. "Every day there's a new bad... More »

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Barack Obama • credit crisis • transition • economic stimulus package • economic adviser • President Obama • economic downturn

(Newser) - Though it's no secret the country is weathering a financial calamity, the crisis still lacks a catchy handle. The New York Times takes a look at news organizations' so-far unsuccessful efforts to find one: Some obvious contenders such as “credit crunch” and “Wall Street crisis” have popped up,... More »

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recession • credit crisis • Great Depression • credit market chaos • financial crisis • Wall Street bailout • economic downturn

 Japan, EU Boost 
 Economies as 
 Bailout Dies 

New stimulus packages announced to avert global paralysis

Dec 12, 08 7:16 AM CST
(Newser) - Japan and the European Union announced new measures to bolster their economies in the wake of the collapse of the US auto industry bailout. The Japanese government multiplied its bank recapitalization fund sixfold, to $131 billion, and announced an $11 billion package to save jobs. "We are working at... More »

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Japan • European Union • auto industry • economic stimulus package • financial crisis • economic downturn • auto bailout

 BofA Will Lay Off 35K 

Recession, takeover of Merrill to blame for latest employee dump

Dec 11, 08 4:59 PM CST
(Newser) - Bank of America said today it will cut between 30,000 and 35,000 jobs in the next 3 years, the AP reports; the move is spurred by the continuing economic downturn and the bank’s recent purchase of Merrill Lynch. Cuts will be broad and will affect both the... More »

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layoffs • Bank of America • mergers and acquisitions • Merrill Lynch • recession • downsizing • financial crisis • economic downturn

 At Deep-Sixed Prices, 
 Consider the Lobster 

Cost of crustaceans hits 25-year low

Dec 10, 08 10:56 AM CST
(Newser) - Prices are dropping on all sorts of luxury goods—and lobster, now less than $10 a pound, is no exception. It’s the lowest price in 25 years, and might not last as fishermen give up on the trade. Spending $30 for the star of a weeknight dinner at home... More »

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recipes • seafood • food prices • lobster • financial crisis • economic downturn

(Newser) - Even the mighty NFL is not safe from the economy's tailspin. The league will eliminate around 14% of its workforce—office workers, not the fellows who wear helmets—and is freezing salaries and hiring until 2009, Bloomberg reports. “I would like to be able to report that we are... More »

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NBA • NFL • MLB • recession • downsizing • ticket sales • economic downturn

 Christie Hefner 
 to Leave 
 Playboy 

Founder's daughter moving to non-profit ventures

Dec 8, 08 1:46 PM CST
(Newser) - Christie Hefner is stepping down as CEO of Playboy after 20 years at the helm of her father Hugh’s operation, she tells the Chicago Tribune. The company’s stock is down, and it has shuttered key divisions, but Hefner, 56, said her resignation was a personal choice. She intends... More »

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Chicago • pornography • resignation • Playboy • Hugh Hefner • magazine publishing • The Girls Next Door • economic downturn • Christie Hefner

 Transit Ridership 
 Soars—for Now 

Plummeting gas prices haven't driven us back to cars ... but now fewer have jobs to commute to

Dec 8, 08 12:56 PM CST
(Newser) - Dramatic increases in public transportation ridership have outlived sky-high gas prices, but the souring economy could reverse the trend, USA Today reports. Nationwide, third-quarter ridership was up 7% compared to last year, spurred by $4-a-gallon gas in July. Some municipalities saw almost 20% more commuters on their trains and... More »

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subway • study • public transportation • gas prices • buses • light rail • public transit • financial crisis • economic downturn • American Public Transportation Association

OPINION

 Media Frenzy Makes 
 Recession Worse 

Sky isn't falling for many, but barrage 'crackling with panic' makes us feel that way

Dec 8, 08 12:37 PM CST
(Newser) - There’s no doubt the economy is bad. The of flood sky-is-falling news stories make that abundantly clear. But the avalanche of bad news—delivered faster than ever before through myriad, ever-present media outlets—has fed upon itself, sinking all of us into a deeper state of collective panic than... More »

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media • news • recession • panic • economy • downturn • financial crisis • economic downturn

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