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NEWS ABOUT: recession depression

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Recession Drives Workers to Trucking

Surging unemployment solves industry's chronic struggle to haul in drivers

(Newser) - Hard times have reversed the trucking industry's trouble finding recruits, the Wall Street Journal reports. Applications have surged as workers who once shunned the industry's demanding conditions can no longer afford to be choosy. At the same time the number of trucks on the road has dropped. Firms that once... More »

Rocky Mountain News Ends Publication Tomorrow

(Newser) - The Rocky Mountain News, the oldest paper in Colorado and perhaps the longest-running business in Denver, will print its last edition tomorrow, the Denver Post reports. The news comes after its owner spent months fruitlessly searching for a buyer. “The operating conditions have become increasingly difficult,” the CEO... More »

Hearst May Shut Down San Francisco Chronicle

(Newser) - More bleak news from the world of newspapers: Hearst is threatening to shut down the San Francisco Chronicle—the nation's 12th largest daily—unless it makes massive cuts. Otherwise, Hearst will seek a buyer for the 144-year-old paper, which lost $50 million last year and is doing worse in 2009,... More »

Post Drops Liz Smith Column

(Newser) - Liz Smith will dish no more at the New York Post. The paper is dropping her gossip column this week to save money, Editor & Publisher reports. It will be the first time in 33 years that Smith, 86, won't have a spot in one of New York City's... More »

Boxcars Idled by Recession Become Residential Blight

Residents who have gained a new town wall aren't pleased

(Newser) - Miles of boxcars that used to rumble through rural US communities now sit idle—and though quieter, towns are finding them much more obtrusive, reports the Wall Street Journal. With shipping down across the world, 30% of America’s boxcars have nothing to transport, and rail yards just can’t... More »

Seniors Scrambling for Work

(Newser) - The recession is hitting elderly workers much harder than in the past, thanks to an increase in the number of older workers—especially those over 75—and a severe shortage of jobs, the Wall Street Journal reports. In past recessions, these workers just retired; now, they're scrambling to find a... More »

Cutbacks Hit Faith-Based Charities as Need Rises

Slashed state budgets leave programs with reduced funding

(Newser) - The recession has hit faith-based charities hard, threatening to cut off vital services for the sick, poor, and elderly, the Washington Post reports. With state and local budgets strapped for cash, contracts and grants for the groups—including the Salvation Army and Catholic Charities—have been slashed or delayed across... More »

Recession Hits the Oscars— Sort Of

Revenue is down, parties are scaling back

(Newser) - Even the Oscars are feeling the economic strain, People reports. Sure, there are still dozens of parties planned on the big day, but organizers are pumping up the “greenness” of the soirées and downplaying the extravagance—Vanity Fair is using decorations from past events. Even those not scaling... More »

Fla. Gun Requests Spike in Recession

Jump attributed to burglary fears

(Newser) - Floridians are arming themselves, literally, against the recession and fears of being burgled. There's been a 42% jump in concealed weapons permit requests in the past 45 days, and the state office that issues them is buried under a 95,000-application backlog. It's seeking a $4 million budget transfer to... More »

As Milk Prices Sour, Cows Head to Slaughter

Farmers can't afford to keep them

(AP) - Hundreds of thousands of America's dairy cows are being turned into hamburgers because milk prices have dropped so low that farmers can no longer afford to feed the animals. Dairy farmers say they face a perfect storm of destructive economic forces: At home, feed prices are rising and consumers... More »

Recession Depression Setting In

One suicide hotline reports a 77% jump in calls

(Newser) - Some people can take losing a job in stride, but Silvia Martinez isn’t one of them. When she lost her $52,000-a-year human resources job, the Virginia woman was too ashamed to tell anyone and sank into a deep depression. “I apply for jobs and apply for jobs... More »

Strapped Networks Air Ads for Booze, Sex in Prime Time

(Newser) - The airwaves are getting a lot more mature. On Sunday, 15 cities saw an Absolut Vodka ad during the Grammy Awards, the first time in years that a liquor commercial has run in prime time on a network-owned station. Other ads not suitable for innocent ears (K-Y Jelly, anyone?) are... More »

Binge Now: Chocolate Prices May Spike

Soaring cocoa prices slim down candy makers' profit margins

(Newser) - Soaring cocoa prices have left chocolate makers wondering how far they can hike prices without souring business, the Wall Street Journal reports. Crop woes in Africa have kept cocoa pricey despite the global commodities slump. Chocolate companies are mostly holding prices steady for now but many are expected to fatten... More »

Celeb Books Only Safe Bet These Days

(Newser) - Britney Spears is shopping a book to top publishers, and editors are lining up to meet her—a further sign of the strapped book industry's new mantra: "Only the sure-fire, big ticket, lowest-common-denominator bestsellers will survive," writes Sara Nelson in the Wrap. Spears’ book, no doubt with a... More »

Farmers Plucked by Chicken Slump

Foreclosures loom as chicken company cuts contracts

(Newser) - Hundreds of poultry farmers face foreclosures on their pricey chicken houses after poultry giant Pilgrim's Pride dropped their contracts. Some are suing in return, claiming the company encouraged them to take on hefty mortgages and vowed to keep their grandkids in business, the Wall Street Journal reports. Most farmers own... More »

Recession Adds Drama to Paying for Lunch

Power diners shy away from picking up big tabs

(Newser) - Power lunches once ended with diners diving for the bill, corporate cards held high. These days, the checks tend to sit there uncomfortably, everyone hoping the other guy will pay, writes Laura Holson in the New York Times. The recession has turned picking the tab into a virtual earnings report.... More »

Stimulus to Bulk Up Food Stamps

Caseloads up dramatically; bill to offer $16B to $20B in support

(Newser) - The stimulus package set to pass Congress contains a measure to boost food stamp benefits by billions of dollars, reports NPR. The $16 billion to $20 billion increase—which would mean up to $79 more a month for a family of four—is a response to a drastic rise in... More »

Downturn 'Worst for 100 Years': UK Minister

Brown ally says current crisis surpasses Great Depression

(Newser) - The current economic crisis will be the worst in a century, surpassing even the Great Depression, according to Gordon Brown's closest political ally. Ed Balls, a minister sometimes tipped as a future British leader, said that the downturn would be "more extreme and more serious than that of the... More »

Will the Recession Drive Up Suicides?

We're better prepared now, but rates are still tied to cultural trends

(Newser) - America is reeling from the financial crisis, and the psychological strain has analysts carefully watching national suicide rates, Time reports. Though three high-profile European businessmen took their own lives recently, suicide rates have held steady at 11 per 100,000 people; during the Great Depression, they spiked at 17 per... More »

93-Year-Old Left to Freeze Leaves $500K to Hospital

Estate may be worth more than $500K

(Newser) - The 93-year-old Michigan man who froze to death last month after his electricity was cut off was a World War II medic who left his estate—possibly more than $500,000—to a local hospital, CNN reports. Despite the savings, Martin Schur was $1,000 behind on his utility bill.... More »

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