recession

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Shoppers Embrace Coupon Clipping 2.0

Digital discounts improve buyer tracking, make coupon use easier

(Newser) - The recession has more Americans clipping coupons, sort of. While coupon use has jumped 10% since October, more of those discounts were downloaded to smart phones and supermarket rewards cards—not cut out from the newspaper. And digital advertising, still a 1% sliver of the discount pie, seems to benefit...

Golf Looks for a Tiger Bailout
 Golf Looks for a Tiger Bailout 
Feb 25, 2009 12:37 PM CST

Golf Looks for a Tiger Bailout

Sport struggles economically without its biggest star

(Newser) - Professional golf is looking to Tiger Woods’ return today as a stimulus package for the sport, which has seen recession undermine sponsorship deals and Woods’ 8-month absence siphon off fans, USA Today reports. Even fellow competitors are juiced ahead of the Match Play Championship outside Tucson, Ariz. “He’s...

Recession May Kill Pricey Death Penalty

Worried about legal costs, states consider abolition

(Newser) - Death and taxes may always be with us, but that doesn’t mean we can’t fiddle with them. Specifically, as the recession decreases tax revenue for states, some are considering abolishing the death penalty, which can cost millions. “And we can’t afford that, when there are better...

Obama Finds His Inner Roosevelt
 Obama Finds 
 His Inner 
 Roosevelt 
ANALYSIS
Feb 25, 2009 7:23 AM CST

Obama Finds His Inner Roosevelt

President stakes his legacy on ending economic crisis

(Newser) - Barack Obama's address to Congress last night “staked his presidency on bringing the nation out of its economic crisis,” writes Steven Pearlstein in the Washington Post. Not since FDR have citizens been so desperate for economic leadership, and yesterday's speech made clear that Obama plans to reshape American...

Bernanke: Recession Should End This Year

2010 will be 'year of recovery'

(Newser) - If the government’s plans work, the recession will be over by the end of this year, Ben Bernanke told senators today, making 2010 a “year of recovery.” But, the Wall Street Journal reports, the Federal Reserve chief pointed to continuing storm clouds, saying the US is undergoing...

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...

Seniors Scrambling for Work
 Seniors Scrambling for Work   
Feb 23, 2009 1:37 PM CST

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...

Obama's Approval Dips to 63%
 Obama's Approval Dips to 63% 
Feb 23, 2009 12:55 PM CST

Obama's Approval Dips to 63%

(Newser) - President Obama’s approval rating has slipped from 68% just after inauguration to 63% one month in, the Chicago Tribune reports today—just above average for the past few presidents at this stage. Though the modest slip is likely due to a hardening of Republican opposition, any "increased public...

Brown to Meet With Obama on Economic Crisis

Soros: world's financial system has 'effectively disintegrated'

(Newser) - President Obama will host British PM Gordon Brown at the White House next week for their first meeting since the election, the Independent reports. The leaders enjoy “a special partnership,” the White House says, and they’ll discuss the global recession ahead of April’s G20 meeting in...

Prepaid Cell Phones Are New Frugal Chic

Pay-as-you-go replaces contracts as consumers cut spending

(Newser) - More customers are turning to Tony Soprano-style, pay-as-you-go cell phones, and not just to avoid wiretaps. As the recession forces consumers to cut costs, all-inclusive prepaid plans are the new frugal option, reports the New York Times. "In today’s economy, it’s not cool to pay $120 a...

120K Protest 'Economic Treason' in Dublin

(Newser) - As many as 120,000 marched through Dublin today, enraged over a government plan to repair the economy by freezing worker pay and taxing pensions, the Irish Times reports. Calling the strategy "economic treason" in a speech to the crowd, union leader David Begg blamed "a business...

Cash-Poor? Hit the Blood Bank—and Get Career Advice

(Newser) - Blood and other bodily fluids are hot sellers these days as donors line up to pocket quick cash in a plunging economy, ABC News reports. Seeing an increase in traffic, blood banks are campaigning to boost it higher, one at Stanford University even offering resumé and job interview advice to...

Hey Big Spender, Flaunt Your Scrimping

Greed is good, as long as it's in the name of frugality

(Newser) - Recessions would be great for the rich—whose wealth insulates them from mercurial fluctuations in the economy—if it weren’t for the guilt they feel over rising poverty. But Chris Ayres has a solution for the loaded that may also revive the economy: “Flaunt your parsimony,” he...

California Has a Budget, but Trouble Looms in May

Critics say another crisis looms

(Newser) - California's budget fight is officially over. For now. Arnold Schwarzenegger signed into law yesterday a budget package that closes the state's $41 billion shortfall, but not before making $1 billion in line-item trims. The governor cut personnel budgets for state officials by 10%, $400 million in prison funding, and $510...

Dodd Backs Nationalizing Banks; White House Doesn't

Banking chair weighs short-term moves

(Newser) - Chris Dodd says the US may have to nationalize the most troubled banks for “a short time” to save the financial system, Bloomberg reports. The chairman of the Senate Banking Committee joined Ben Bernanke and Alan Greenspan in calling for serious consideration of nationalizing flailing institutions such as Bank...

At London Restaurant, You Set the Price

Customers offer diverse amounts at popular place

(Newser) - A London restaurant is letting customers pay what they think their meal was worth, and diners are packing the place, the Times of London reports. In the face of tough times, Little Bay owner Peter Ilic decided to run an experiment, writes Vincent Graff: “Will British reserve, and the...

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...

Cheap Oil Keeps World Economy Off Balance
Cheap Oil Keeps World Economy Off Balance
ANALYSIS
Feb 20, 2009 5:18 AM CST

Cheap Oil Keeps World Economy Off Balance

With crude under $40, investment dries up, nations lose revenue

(Newser) - Oil surged 13% yesterday in New York trading—and still closed at less than $40 a barrel, reports the Washington Post. Cheap oil has been a boon for consumers in the recession, but the collapse in crude prices has contributed to further havoc in international markets from Canada to Kuwait....

Dentists Feel No Pain in Recession

(Newser) - Clenched jaws abound during this recession, and a combination of stress-related damage and layoff victims rushing to be treated before they lose their insurance is helping keep dentistry afloat as the economy dives. Dentist's offices last year reported the highest profit margins of any industry, including top moneymakers like accounting...

Fed Sees Little Relief for Jobless

(Newser) - The Federal Reserve warned today that the nation's economy is even worse than thought and predicted it would deteriorate throughout 2009. The Fed's bleak estimates indicated that unemployment could climb as high as 8.8 percent this year and that the economy would contract for a full calendar year for...

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