Recession Watch
08/25/2009
News Round-Up: Refirgerators, Home Price Upswing, Winners, Fed Disclosure and Banks to be Punished
Latest in Stimulus: 'Cash for Refrigerators' - Coming this fall, a clunkers-type program to boost sales of energy-efficient home appliances will authorize rebates of $50 to $200. (Business Week)
Home Prices on the Upswing - A jump in the national S&P/Case-Shiller Home Price Index suggests that the very steep price drops of the past few years may be over. (CNN Money)
Recession Forges New Class of Winners - Companies with a cushion of cash, a readiness to spend it and a willingness to go for the jugular are gaining an edge in the recession – at least for now. (Wall Street Journal)
Court Rules Federal Reserve Must Disclose Emergency Loan Details - The Federal Reserve must for the first time identify the companies in its emergency lending programs after losing a Freedom of Information Act lawsuit. (Bloomberg)
How One City May Punish Banks for Foreclosures - says Andre Williams, a Harvard-educated real estate attorney and Miami Gardens city councilman has proposed a city ordinance that could penalize banks that fail to offer modifications before starting foreclosure proceedings. (TIme)
When someone close to you dies, the last thing on your mind is arranging a cheap funeral or finding ways to reduce funeral costs. Yet with unemployment rising and the economy under sustained stress, you might not be able to afford a conventional funeral that pulls out all the stops.
The following advice on how to plan a funeral with no money comes from funeral directors and professionals in the industry itself...Full Article
08/24/2009
News Round-Up: Plan B, Debt for Sale, Factory Growth and Save $500
On to Plan B: Starting a Business - CALL them accidental entrepreneurs, unintended entrepreneurs or forced entrepreneurs. A year and a half into the Great Recession, with the jobless rate hovering near double digits, corporate refugees are trying to fend for themselves. (NY Times)
Remember Me? Wall Street Repackages Debt for Sale - Wall Street may have discovered a way out from under the bad debt and risky mortgages that have clogged the financial markets. The would-be solution probably sounds familiar: It's a lot like what got banks in trouble in the first place. (Huffington Post)
A Sign of Economic Recovery: Factory Output is Growing - The nation's factory output is growing for the first time since early last year, bolstering the case for an economic recovery. While the improvement is modest amid weak consumer spending, some leading manufacturers and economists believe it can be sustained and eventually set off a more robust upswing. (USA Today)
Cut Your Spending by $500 a Month - In today's tight economy, who doesn't want to free up some cash? Trim the fat but not the fun from your budget - here's how. (CNN Money)
The art of bartering is as ancient as human civilization, and is rapidly gaining in popularity once again; ordinary people are now learning how to barter items to save lots of money. By creating their own barter systems based on goods and services, these people are able to get around money entirely: securing what their families need most without spending a cent. The amount of money you can save by learning the art of bartering is limited only by your imagination and your ambition.
Here we explain how to barter successfully with the following bartering tips and tricks...Full Article
08/21/2009
News Round-Up: Check You Look, Markets Rise, Tell the Kids, Green Recovery and Home Sales
Laid Off? Check Your Look … and Your Attitude - In the aftermath of a layoff, style is critical. And it's about more than the decision to polish a wardrobe. It's the way people comport themselves. (Wall Street Journal)
Markets Rise on US Recovery Hopes - Stock markets have risen around the world after Federal Reserve chairman Ben Bernanke said the US economy was nearing the start of a recovery. (BBC)
In Financial Trouble? You Might Want to Explain it to Your Kids - Talking to your kids about sex is easy, especially if you have cable. Talking to your kids about money, though, is often difficult. (USA Today)
'Green Recovery,' or How to Exit the Recession Clean - Has the economic recession forced you to abandon your company's projects to make the business more environmentally friendly?
Big mistake, says consultant and lecturer Andrew Winston in "Green Recovery" (Reuters)
Existing Homes Selling Fast - Record Fast - The volume of home re-sales has been on the upswing for four consecutive months. (CNN Money)
08/20/2009
News Round-Up: Simple Life, £5 Notes, Man in a Van and the End of Clunkers
Life Without Frivolities - Large numbers of U.S. adults have cut back on driving, eating at restaurants, going to the movies and traveling, as more Americans move away from material frivolities and take pleasure in a simpler lifestyle. (Forbes)
The Return of the Fiver: Banks are Reintroducing £5 Notes to Cash Machines - In the U.K., the fiver is making a return to the country's cash machines to help people manage their budgets during the recession. (Telegraph)
A Vehicle for Expression - As He Drives Across the Country, an Unemployed Oregonian Chronicles The Recession by Asking People to Write Their Tales on His Orange Van. (Washington Post)
End in Sight for 'Clunkers' - The Obama administration said it will wind down its popular "cash for clunkers" incentive program on auto sales -- and may do so as soon as early September, according to one person familiar with the matter. (Washington Post)
How to Get a Job in 100 Words or Less - Meet some of CNNMoney.com's trusted career coaches and hear their best advice for finding a job.
With unemployment reaching record levels in the United States, many people are going into business for themselves for the first time. If you are thinking about starting a small business you don’t have to go it alone. Government assistance for businesses, federal business grants, and other services designed to help start up a business are available to give you a strong head start and increase your likelihood of success. By learning what kind of resources are available to you and making the most of them, you can make sure your new business starts off on the right foot.
Government help for small business owners is available if you know where to look. The following resources should help to get you started...Full Article
08/19/2009
News Round-Up: Recession Claims, 1-Cent Sales, Jobs Boost, New Laws and Re-Hired!
World Emerges From Recession, IMF Claims - It's official: the recovery has begun – although recovery will be unpredictable and protracted, according to the International Monetary Fund's chief economist. (Telegraph)
Retailers Hope for Big Payoff With 1-Cent Sales - Dump out the coffee cans, car ashtrays and the bottom of your purse. The lowly penny, which almost was taken out of circulation three years ago, is making a comeback as the recession puts a crimp in back-to-school sales. (LA Times)
GM to Boost Production and Bring Back More Than 1,000 Jobs - Higher sales, in part from the US government's "cash for clunkers" program, are spurring General Motors Company to boost production at several of its factories. (Guardian)
What to Expect As New Rules on Credit Cards Take Effect - Credit-card users get new protections this week, the first of a series of federal actions that constrain card issuers from changing terms on customers. (Wall Street Journal)
You're Fired! You're Hired! - As economic conditions improve, more companies are recalling previously laid off workers, with mixed success. (CNN Money)
08/18/2009
News Round-Up: Recession-Proof Town, Gold Panning, Best Cities and Banks Distrusted
A Town the Recession Never Hit - In Elko, Nevada, the economic news in the community of 19,000 is astonishingly cheerful: Housing prices are stable. Commercial building is up. Tourist events are drawing bigger crowds than last year. Unemployment is about as low as you'll find. The casinos are down only slightly. And the town's four legal brothels are having a busy summer. (CNN Money)
Panning for Gold Makes a Comeback in Bad Economy - High gold prices, combined with increasing economic uncertainty, means that more families are including gold panning in their vacation plans. And, because a little bit of gold can become a lot of money, gold panning for some people is more than a hobby: It's a source of much-needed income. (USA Today)
Best And Worst Cities To Find A Job - Though the Obama Administration has warned that unemployment will reach 10 percent this year, job markets across the country may not be uniformly bad. According to a new report by the search engine Indeed, the best city to find a job is Washington, D.C., where there are six job postings for every unemployed person. (Huffington Post)
City’s Poor Still Distrust Banks - In Manhattan, long the world’s banking capital, 12 percent of households still do not have a bank account, compared with the national average, 8 percent. (NY Times)
Recently the mortgage industry came under fire for inflating home appraisal values (in some cases) and undervaluing them in others. Banks have also been criticized for overcharging for bad appraisals by hundreds of dollars, even though the appraisal companies they used were cheap and fast.
The stakes are high: Getting the correct appraised value of your home directly impacts how much you can borrow and what price you can ask for your home when you go to sell it.
How can you make certain you get a fair appraisal of your property when the time finally does come to sell or refinance? Accurate home appraisals are available, but in the end it all comes down to the homeowner to make sure an appraisal is done right...Full Article
08/17/2009
News Round-Up: Recession Exit, Mortgage Buying, Teens and Just Getting By
Japan's Economy Leaves Recession - Japan has come out of recession after its economy grew by 0.9% in the April-to-June quarter. The growth comes after four consecutive quarters of contraction. (BBC)
China Said to be Buying U.S. Mortgages - The China Investment Corp. is set to invest up to $2 billion in mortgage-backed securities because it considers the housing market set for a recovery. (CNN Money)
What Recession? Economic Crisis Passes Teens By - The world may be slowly emerging out of recession, but the global financial crisis appears to have gone unnoticed to a whole swathe of people: teenagers. (Reuters)
Squeaking by on $300,000 - In a New York suburb where Wall Street's boom years pushed the standard of living to astonishing heights, one family tells of how they are just getting by with a meager $300,000 yearly (Washington Post).
The current recession is either almost over or just beginning, depending on who is talking about it, but one question that no one talks about enough (yet many people are now pondering) is how do you recession-proof yourself forever? What steps can be taken to soften the effects of any future recession? Is there a single, sure fire way to survive any recession?
The following suggestions are not new, but they are all effective ways to recession-proof yourself forever. Adopting even one or two can make you more resilient and secure should another recession hit at any time...Full Article
08/14/2009
News Round-Up: Big Paychecks, Water, Inflation and Clunkers Tune-up
Bigger Paychecks on a Comeback - Almost half of employers in survey say they will roll back salary reductions in the next six months, while one-third will lift pay freezes. (CNN Money)
Bottled Water Sales See a Drought - Sales of bottled water have fallen for the first time in at least five years, assailed by wrathful environmentalists and budget-conscious consumers who have discovered that tap water is practically free. (LA Times)
U.S. Consumer Prices Flat, Inflation Pressures Muted - U.S. consumer prices were flat in July versus June, but fell over the past 12 months by the most since 1950, according to government data that suggested benign inflation pressure even amid signs the recession may be winding down. (Reuters)
'Clunkers' Plan Needs a Tuneup - The Obama administration eased the rules of its "cash for clunkers" program Thursday, saying it would let consumers order autos that dealers don't have in stock. (Wall Street Journal)
08/13/2009
News Round-Up: Euro Exit, Optimism, All-You-Can-Fly and the Shape of Recovery
France and Germany Exit Recession - The French and German economies both grew by 0.3% between April and June, bringing to an end year-long recessions in Europe's largest economies. (BBC)
U.S. Employers Grow More Optimistic - Major U.S. employers are growing more optimistic, with few planning additional layoffs and many planning to reverse course in coming months on cost-cutting initiatives such as salary freezes, according to a new survey. But recent cuts in health-care benefits may become permanent. (Wall Street Journal)
JetBlue Offers All-You-Can-Fly Plan for $599 - JetBlue Airways will offer an "all-you-can-jet" pass for $599 in which passengers can book an unlimited number of flights within a one-month span, the airline said Wednesday. (CNN Money)
What Shape is the Economic Recovery in - With the launch of an economic recovery all but certain this year — many experts say it's already begun — the debate among pundits has turned decidedly alphabetical. In other words, what letter will the rebound resemble — U, V or W? (USA Today)
Federal deficit: Who Owns America's Debt? - Find out which countries are propping up the US economy. (Guardian)
Recession romance is not only possible; it’s a great way to stay upbeat and optimistic during hard times. Unemployed dating takes a bit of courage and ingenuity, but once you get the hang of it, you may find that it’s a lot easier and more fun than you ever imagined.
In past generations, dating was less about spending money and more about getting to know another person. Unsurprisingly, relationships that started up under those conditions tended to last longer than relationships today. Showing interest in another person above and beyond what that person has to contribute financially is almost universally appreciated. Looking at dating while unemployed as an opportunity instead of a challenge can help you meet someone really special at long last...Full Article
08/12/2009
News Round-Up: Right to Rent, Economic Surveys, Lying Low and Oklahoma Defiance
Saving Homes With a 'Right to Rent' - It's time to try a new route for helping homeowners. There is a simple alternative: Congress can pass legislation that gives homeowners facing foreclosure the right to stay in their home as renters. This "right to rent" policy would require no taxpayer money, no new bureaucracy and could immediately benefit homeowners facing foreclosure. (LA Times)
Majority of Economists Say Recession Is Over - The majority of the economists The Wall Street Journal surveyed during the past few days said the recession that began in December 2007 is now over. (Wall Street Journal)
Lying Low After a Layoff - Even as the ranks of unemployed and underemployed have grown, career counselors, therapists and other experts say a certain segment is determined to suffer in silence, keeping details of job losses and financial pressure secret from all but close family and friends. (Washington Post)
Oklahoma City Defies Recession - The current recession has put much of the U.S. on an economic losing streak. But a few places, including Oklahoma City, have missed most of the pain. (USA Today)
08/11/2009
News Round-Up: Green Jobs, Production Rise, Unemployment Stalling and Playboy Recession
Green Jobs in US Set for Recovery - Hiring in the alternative energy industry will pick up in the next 12 months, though it will take more time before so-called green jobs will become a bigger part of the US job market, US labour secretary Hilda Solis said yesterday. (Guardian)
US Sees Strong Productivity Rise - US productivity rose at its fastest annual pace for nearly six years in the second quarter of 2009, figures from the Department of Labor show.
Productivity, measuring workers' hourly output, rose at an annual rate of 6.4% in the second quarter. (BBC)
Why Unemployment (Probably) Won't Hit 10 Percent - Nate Silver, the more-often-than-not accurate statistician, thinks that the recession likely does not have enough gas left to get us to 10 percent unemployment. (FiveThirtyEight)
Hugh Hefner Sells LA Property as Financial Crisis Hits Playboy - Hugh Hefner, the founder of Playboy magazine, has been hit by the global recession, reportedly selling his English Manor mansion in Los Angeles for $10m less than the asking price. (Telegraph)
Your party budget is small or nonexistent but you still want to celebrate, and you can! Throwing a party on a tight budget isn’t just possible; it’s a time-honored tradition! From ‘rent parties’ thrown to keep artists and young professionals living indoors to charity smokers thrown to raise money to help pay someone’s hospital bills, people have been throwing low cost parties for as long as there have been people.
The following cheap party tips can help you to have plenty of fun with friends and family without breaking the bank to do it...Full Article
08/10/2009
News Round-Up: Bank Excess, Recession End, Buy Foreclosures and Clunker Tips
Banks Make $38bn From Overdraft Fees - US banks stand to collect a record $38.5bn in fees for customer overdrafts this year, with the bulk of the revenue coming from the most financially stretched consumers amid the deepest recession since the 1930s, according to research. The fees are nearly double those reported in 2000.
The finding is likely to increase public hostility towards the financial sector, which has been under political pressure to ease the burden on consumers by increasing credit availability and lending more fairly after being bailed out by taxpayers. (Financial Times). Also see, “How to Avoid Excessive Bank Fees.”
U.S. Recession Seen Ending in Q3 - The worst U.S. recession since the Great Depression will probably end in the third quarter, but there is uncertainty over the speed and duration of the economic recovery, according to the most recent survey of private economists. (Reuters)
Buy Foreclosures Now - Before it's Too Late - In many markets, if you want to buy a repossessed property, you better come with your best offer first -- and fast. (CNN Money)
Cash for Clunkers 2.0: Five Tips for Consumers - Here are five tips for making the most of cash for clunkers. (Time)
08/07/2009
News Round-Up: Payrolls, No Jokes, Sperm Banks and Birth Rates
Payrolls Fall Less in July, Jobless Rates Eases - U.S. employers cut 247,000 jobs in July, far less than expected and the least in any month since last August, according to data on Friday that provided the clearest evidence yet that the economy was turning around. (Reuters)
It's no Joke: Recession Turns Folks Into Comedians - There's just something about a recession that makes people want to do funny things.
Like wannabe comics who are out of a job and hoping amateur hour at comedy clubs could be the ticket to a paycheck - and maybe stardom. Because, really, how hard could that be? (Examiner)
A Run on the (Sperm) Banks -Recessions are a time to look inward to find what’s really important in life. For many men, that means looking really inward (and southward), to their sperm.
Applications for sperm donation are way up across the country. And why shouldn’t they be? Selling sperm for cash has long been considered a get-rich-quick scheme of sorts for men during recessions. (Minyanville)
Birth Rate Is Said to Fall as a Result of Recession - For the first time since the decade began, Americans are having fewer babies, and some experts are blaming the economy. (NY Times)
Finding a great job in today’s market takes a bit of ingenuity, and green jobs are becoming hotter than ever. Did you know that you can actually make money by recycling ordinary household materials like metal, glass, paper, small electronics, and much more?
You can earn a green living by focusing in on things that you can recycle for money, collecting them, and turning them in to the appropriate agency for cash.
While earning money for recycling, you not only help yourself, you also help the planet and help to keep your state and city clean and beautiful.
Here are some of the top ways to earn a green living by specializing in things that you can recycle for money...Full Article
08/06/2009
News Round-Up: Jobless Claims, Green Cards, No Coffee Perks and U.K Update
Jobless Claims Point to Stabilizing Labor Market - The number of U.S. workers filing new claims for jobless benefits fell sharply last week, a government report showed on Thursday, boosting views the labor market and the economy were stabilizing. (Reuters)
U.S. Worker Green Card Petitions Decrease - The number of petitions from employers trying to bring foreigners to work permanently in the U.S. has declined dramatically over the last two years.
With the nation facing a deep recession and high unemployment, the government has received about half the number of employer-sponsored applications for work-based green cards in fiscal years 2008 and 2009 than it did in each of the previous years. (Time)
No More Perks: Coffee Shops Pull the Plug on Laptop Users - More small coffee shops in New York are imposing restrictions on customer laptop use as shop owners struggle to stay in business. (Wall Street Journal)
'Worst of Recession Over', According to Leading UK Forecaster - A slew of positive economic data and an upbeat trading update from Carpetright – often seen as a bellwether for the economy – prompted analysts to predict the UK could emerge from the recession as early as the third quarter. (Telegraph)
08/05/2009
News Round-Up: Foreclosure Priest, Mortgage Boost, Job Raises and Doctor Bills
LA Priest's Mission: Saving flock from Foreclosure - A priest's typical mission is saving souls, but the Rev. John Lasseigne has a more down-to-earth goal - saving homes.
Lasseigne has gone from praying for parishioners to lobbying politicians and negotiating with lenders on their behalf. His daily discourse is as likely to include talk of balloon payments and negative amortization as Hail Marys and The Lord's Prayer. Meetings with banks rather than bishops fill his agenda. (Examiner)
Mortgage Demand Boosted by Refinancing as Rates Drop - Demand for U.S. home loans rose last week as a decline in 30-year fixed mortgage rates to a three-week low boosted applications for refinancing, the Mortgage Bankers Association said on Wednesday. (Reuters)
Where the Raises Are - Maybe you’re just glad you’ve got a job. But if you’re wondering about the chances you’ll get a raise this year too, a new survey out Tuesday may shed some light. (CNN Money)
Beyond Co-Pay: Surprise Bills at the Doctor’s - Insured patients typically expect to make a small co-payment when they see a doctor, and later get billed for anything else they owe. But physicians no longer want to wait for their money. (Wall Street Journal)
08/04/2009
News Round-Up: Jobless Lawsuit, Top Clunkers, Homes Surge and Recession Taxi
Jobless Graduate Sues Her College - A New York woman who says she cannot find a job is suing the college where she obtained a bachelor's degree.
Trina Thompson, 27, filed a lawsuit last week against Monroe College in Bronx Supreme Court. She is seeking to recover $70,000 she spent on tuition to get her information technology degree. (BBC)
Top 10 Cash for Clunkers Cars - From the USA and Asia, here are the cars people are buying to replace their old gas guzzlers. (CNN Money)
Pending Sales of Existing Homes in U.S. Surge 3.6% - The number of contracts to buy previously owned homes in the U.S. rose in June for a fifth straight month and exceeded economists’ forecasts, as lower prices and mortgage rates attracted buyers. (Bloomberg)
Vermont man opens Recession Taxi - You read it right the first time: the message on the taxi’s back window really reads, “Pay What You Want!”
Eric Hagen, 46, an Essex resident and the SUV’s owner (and sole proprietor of Recession Ride Taxi) smiles a lot, but he isn’t joking. He’s making a profit. (Burlington Free Press)
08/03/2009
News Round-Up: Stabilization, More Jobless Aid, Haggling and Ways to be Happier
Foreclosures Stabilize In California, Florida And Arizona - Even as Americans suffer rising unemployment, foreclosure rates in three states hit hardest by the housing bust -- California, Arizona and Florida -- stabilized in June, offering hope that the worst of the real estate crisis is over, according to The Associated Press' monthly analysis of economic stress in more than 3,100 U.S. counties. (Huffington Post)
Obama Officials Eye More Jobless Aid, Weigh Taxes - Top U.S. officials said on Sunday it may be necessary to extend jobless benefits to firm up an economic recovery unlikely to create jobs until next year and declined to rule out future tax increases to tame massive budget deficits. (Reuters)
In the Recession, Shoppers Are Becoming Hagglers - Think you should haggle only when buying a car or shopping in the streets of Morocco? In this recession, if you're not bargaining for everything everywhere, you're needlessly draining your wallet. (Time)
6 Ways to be Happier at Work - With widespread job cuts and a recession to deal with, it's not easy to maintain a positive outlook at work these days. But being upbeat, despite the stress, could actually help you thrive during a downturn. (CNN Money)
Having family fun doesn't have to be something that puts a hole in your wallet: in fact, there are tons of ideas for having a great time with one's kids that are entirely free, and many more that require only minimal investment.
Though many people seem to have forgotten about these options—mostly due to today's culture, where the idea that not spending loads of money on your kids means you don't love them predominates—that doesn't mean that they're not still out there. Simply hearkening back to one's own childhood will probably give some good ideas for free or cheap kids activities, derived from times when being a kid was a much less costly affair....Full Article
07/31/2009
News Round-Up: Clunkers, Economic Easing, People's Stimulus, Change in Jobs and Christmastime
White House: 'Cash for Clunkers' Good Thru Weekend - The Obama administration promised Friday that the financially strapped "cash for clunkers" program would be alive at least through the weekend.
"If you were planning on going to buy a car this weekend, using this program, this program continues to run," White House Press Secretary Robert Gibbs told reporters. (USA Today)
Pace of U.S. Economic Decline Eases - The US economy shrank at an annual pace of 1% in the April-to-June quarter, government figures have shown.
Analysts said the data suggested that the worst could be over for the US economy, which has now been in recession for a year. (BBC)
The People's Stimulus Package - With $2 bills and "buy local" promotions, towns are launching their own stimulus efforts to keep local merchants in business. (CNN Money)
Pushed by Recession, Millions Make Dramatic Job Changes - Millions of Americans are making dramatic career turnabouts in this withering recession as a range of industries — including those involving cars, finance, real estate and construction — are shedding hundreds of thousands of jobs, many of which analysts say likely won't return for years, if ever. Meanwhile, fields such as health care, clean energy, computer science and the government are expected to grow robustly in coming years. (USA Today)
It's Christmastime at the Mall - America's retailers are responding to the recession with Christmas in July. A number of retailers and toy makers launched Christmas sales and promotions this month, hoping to boost sagging sales and help cash-strapped consumers stretch out their holiday spending. (Wall Street Journal)
07/30/2009
News Round-Up: Country Songs, Housing Hopes, Home Appraisals and Labor Shortage
The Economic Country Singer - The country singer who has captured the essence of the crunch like no economist ever could is back.
In his newly released music video Bailout, Merle Hazard - stage name of Nashville-based money manager Jon Shayne - explores the support given to failing banks. (Guardian)
Housing Market Teeters Between Recovery, Relapse - The battered housing market appears to be on the mend, with sales climbing nationally and prices leveling off, even rising in some spots.
But swelling unemployment and the related delinquencies and foreclosures threaten to upend these gains, industry experts said. (Washington Post)
Buying? Selling? Don't Undervalue the Home - How do you get a fair home appraisal on your property? Here are five things that you need to know. (CNN Money)
Got Workers? Dairy Farms Run Low on Labor - Even in Recession, U.S. Job Candidates Are Scarce; Milk Producers Relying on Immigrants Worry About a Crackdown. (Wall Street Journal)
07/29/2009
News Round-Up: Dalai Lama, Profit From Recession, One-Way Tickets and Food Stamps
Recession is Chance to Re-Think Values: Dalai Lama - The ongoing global economic crisis is an opportunity to re-think values related to finance, Tibet's exiled spiritual leader the Dalai Lama said Tuesday during a visit to Poland.
"Maybe this unfortunate crisis can be a lesson to start to think about other values of human beings, not only just money," he told a predominantly student audience at Warsaw University.
"What have we learned? In money matters we need truth, honesty -- transparency is very essential," he said. (Associated Press)
20 Ways to Profit From the Recession - Savvy investors and experienced business people will be looking to make money out of the misery – for them the recession brings with it the next opportunities. (Telegraph)
NYC Buying One-Way Tickets For Homeless Families To Leave - It's part of a Bloomberg administration program to keep the homeless out of the expensive shelter system, which costs $36,000 a year per family. More than 550 families have left the city since 2007. All it takes is for a relative to agree to take them in. (Huffington Post)
More Retailers Say Yes to Food Stamps - More retailers are accepting food stamps, as a record number of consumers are turning to government aid to pay for groceries. (USA Today)
The huge shift in the global economy has brought much unexpected change to many people. Whether it be the loss of a job, the loss of money, or the loss of a home, this change has fed our survival fears and lessened our sense of security
While it is easy and understandable for one to feel like a victim of unexpected change, it is essential that we learn to embrace the change for what it is, in order for us to fully grow and achieve our potential.
Here we discuss the ways in which to embrace the change in your life, no matter what situation of change you find yourself in....Full Article
07/28/2009
News Round-Up: Confusion, Generosity, Pollution Cuts and a Low-Cost Rolls Royce
'Clunker' Confusion: EPA Changes MPG Figures - Some car shoppers are finding that their trade-in vehicles, which qualified for a "Cash for Clunkers" rebate last week, don't this week thanks to changes in the EPA's fuel economy ratings. (CNN Money)
Economy Low, 'Generosity High' - More Americans became engaged in their communities last year as the economy weakened, a federal agency reported Tuesday.
"There's a compassion boom going on," says Robert Grimm of the Corporation for National & Community Service, "Instead of people worrying about their own problems," he says, "they're thinking of others." (USA Today)
Recession Cuts Pollution but Also Green Investment - The environment won a temporary reprieve in the recession as Americans slammed the brakes on one of their favorite pastimes: consuming stuff. (Reuters)
Rolls-Royce Unveils a Recession-Ready Limousine - To put a slight spin on the name of a popular folk song from the Great Depression, "How can a rich man stand such times and live?" He could buy a smaller car, for starters, such as the about-to-be-released Rolls-Royce Ghost, the first lower-cost limousine to be produced by the world's luxury automaker in more than a decade. (Time)
Finding affordable housing is a challenge during tough economic times. Subsidized housing often comes with stringent income requirements, and you can almost count on spending up to two years on a government waiting list even after your application is approved, (if it is approved).
What if you could live rent-free without waiting for subsidized housing? The good news is that free housing isn’t just a pipe dream; it’s a common of perk that comes with many paid jobs, and it’s also possible, using a bit of creative thinking and some initiative, to set up your own house sitting or nanny service that covers the cost of housing while giving you a regular income too...Full Article
07/28/2009
News Round-Up: Home Sale Rise, Unemployment Help, Cash for Clunkers and Striving to Please
U.S. New-Home Sales Climb 11%, Most in Eight Years - Purchases of new homes in the U.S. climbed 11 percent in June, the biggest gain in eight years, underscoring evidence that the deepest housing slump since the Great Depression is starting to stabilize. (Bloomberg)
Helping the Unemployed Pay Their Mortgages - As a growing number of jobless Americans default on their mortgages, the Obama administration is considering new ways to help them avoid foreclosure.
Among the options being floated are giving the unemployed money, in the form of grants or loans, to cover their mortgage payments or allowing them to remain in their homes as renters after foreclosure. (CNN Money)
As Cash for Clunkers Starts, Dealers Hope to Clear Lots - After many months of agonizingly slow sales, automakers and dealers are anxiously counting on the cash-for-clunkers program, getting under way officially on Monday, to help clear their lots. (Time)
Companies Strive Harder to Please Customers - Companies are trying harder to please customers amid the recession -- and it appears to be working.
The American Customer Satisfaction Index, a widely followed survey conducted by the University of Michigan, is at a record high. Other surveys also report gains in customer satisfaction. (Wall Street Journal)
07/24/2009
Round-Up: Economic Hope, Buffett Cartoon, China's Lesson and 10 Recession Jobs
Hope Builds for the Economy as Positive Reports Pile Up - Companies that a few months ago were too fearful even to project their future earnings are now seeing glimmers of hope in the year ahead. The rate of home sales has risen for three straight months. And the number of people drawing unemployment insurance benefits has fallen back to April levels, having receded for the third straight week. (Washington Post)
Warren Buffett to Star in Business Cartoon - Billionaire investor Warren Buffett is to star in a new online animated series designed to teach a new generation of American children about financial responsibility. (Telegraph)
China's Economics Lesson to the U.S. - China's government is doing a better job than the US at coping with the effects of global economic recession. (Guardian)
Cash for Clunkers: Is it for You? - Even if you think your old car qualifies for a Cash for Clunkers rebate, you may be surprised at your options. (CNN Money)
10 Perfect Jobs for the Recession -- and After - How to find a new boom amid the bust. (Time)
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