December 5, 2008
The Detroit Free Press encouraged leaders in Washington to provide federal funding for the auto industry’s requested bailout of $34 billion. The front-page editorial (see picture) said it sent the paper to every member of Congress.
Speaker of the House Nancy Pelosi said in a statement the loss of 533,000 jobs in November prompts the need for short-term funding for the auto industry, The New York Times reported. The lost jobs have been one of the greatest since 1974, The Guardian found. Ironically, Pelosi said the funds will most likely come from federal loans set aside to fund fuel-efficiency measures in the industry.
David T.
December 4, 2008
The effects of the credit crisis and rising costs are now surfacing in more than just the banking industry. They’ve hit, are hitting and will hit colleges.
Keep reading →
December 3, 2008
Is the auto industry about to crash?
No, it did a long time ago, says Michael Moore.
Bailout updates: The U.S. officially entered a recession Monday, and bailout plans for the auto industry increased from the initial $25 billion demand. U.S. Treasury Secretary Henry Paulson may ask for the second half of the bank bailout plan of $350 billion next week.
Bailout commentary: Michael Moore offers his own satire of the auto bailout.
Keep reading →
December 1, 2008
Friday morning, my brother and I spent a good 45 minutes in line around 9:30 a.m. at Kohl’s. We grabbed one of three fondue sets still remaining. The doorbuster, marked $30 down to $20 with a $10 rebate, was definitely worth the wait, and we were lucky we managed to snatch one — the store opened at 4 a.m. for Black Friday.
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November 25, 2008
Nov. 25 podcast: Bankruptcy’s stigma and its potential effects on Nov. 28 sales.
David T.
November 23, 2008
The housing crisis has kept thousands of older Americans who need support and care from moving into retirement communities or assisted-living centers, effectively stranding them in their own homes. Read more on The New York Times. Lynette C. Keep reading →
November 23, 2008
Many companies suspended matches during the last recession, and some experts think it’s likely to happen again. See more at CNNMoney.com. Lynette C. Keep reading →
November 23, 2008
Even with gas prices in free fall and the global economy sputtering, now may be the time to bulk up on oil shares (if you dare). Read more on Fortune. Lynette C. Keep reading →
November 22, 2008
The Guardian Daily podcast explains why oil imports have reached their cheapest prices in three years. The paper’s economics editor says that the recession affects the global economy.
Experts expect some variety, though: India seems immune while Russia may suffer.
David T.
November 21, 2008
With the economy floundering, sale of apartment buildings has dropped almost 36% this year. This is factoring in condominium, rental and co-op properties. What does this mean for renters in New York City? Keep reading →
