Consumerist
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unemployment
Like To Wear A Suit And Sunglasses? FBI Hiring 2950 New People
In its largest ever hiring spree since 9/11, the FBI is hiring 850 new special agents and 2,100 professional support personnel. Maybe they'll catch all those shady mortgage crooksters before they Jenga the system! Oh wait, too late. Next time there's a sub-prime meltdown, though, we'll be ready! [FBIjobs.gov] [CNN] -
economy
Despite Having A S*%!load Of Our Money, Banks Still Aren't Lending
Gripped by "catatonic fear," banks still aren't thawing credit markets, "leaving taxpayers propping up an industry that won’t lend to them." [Bloomberg] (Photo: The Joy of the Mundane) -
explainers
What Is Quantitative Easing?
Want to know a fancy word for printing new money? Meet "Quantitative easing," the Fed's weapon of last resort to try to prod banks to lend to each other and to companies. Marketplace's Paddy Hirsch is back with his whiteboard to explain how it all goes down. Video inside. More » -
The Chicago Tribune is reporting that yesterday's post-Christmas sales were lackluster for retailers. We don't know about the rest of you, but we were way too full of eggnog and cookies to actually get up and go shopping.
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no santa
Last-Minute Shoppers Unable To Save Christmas For Retailers
The AP says that while last-minute shoppers are still out there looking for bargains — the holiday season was over long ago for retailers. More » -
recession watch
Now That Gas Prices Are Lower, You Have Money To Buy Stuff, Save
Even though real incomes are dropping and people are worrying about their jobs — a drop in gas prices has lead to a push in retail spending, says the New York Times. More » -
shoplifting
As The Economy Sinks, Shoplifting Arrests Soar!
The New York Times says that police departments all over the country are reporting an increase in shoplifting arrests — up to 20%. More » -
recession watch
Are You Ready For A 4 Day Work Week?
BusinessWeek says that employers around the country are cutting back hours rather than laying people off in response to the recession. It sounds nice at first — until you realize that it sucks. More » -
gas
Despite OPEC's Best Efforts, Oil Prices Have Slipped Below $40 A Barrel
Oil prices have fallen below $40 a barrel, a 4 year low, despite OPEC announcing that it would cut production by 2.2 million barrels a day. More » -
pier 1
Pier 1 Is In Danger Of Being Delisted From The NYSE
We are living in difficult times for selling wicker furniture, it seems. Pier 1 lost $36.9 million in the third quarter — and is in danger of being delisted from the NYSE. More » -
best buy
Best Buy Falling On Hard Times
"Best Buy Co. Inc. offered voluntary severance packages to virtually all its 4,000 corporate employees Tuesday as the nation's largest consumer electronics chain announced its third-quarter profit skidded 77 percent," says the AP. [Forbes] -
money meltdown
Credit Card Squeeze Is Pushing Consumers Toward Foreclosure
USAToday says that panic by the credit card industry is squeezing customers who ordinarily would be able to pay their bills — pushing them toward financial ruin and foreclosure. More » -
movies
Bottom Falls Out Of Movie Market
Look for next year's movie release schedule to be full of remakes and easy-bets. I spoke with a Hollywood actor who said that the bottom has completely fallen out of the movie market. More » -
money meltdown
The Recession Spares Nothing, Not Even Puppies
Ever feel like the poor state of the economy is impacting every area of life? Well, it is! A few examples popping up in some surprising places, like animal shelters...
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bankruptcy
Santa's Not Coming: All KB Toys Stores To Be Liquidated And Closed
KB Toys has returned to Chapter 11 bankruptcy, says the Wall Street Journal, and will be liquidated by its parent company — Prentice Capital Management. More » -
recession watch
America's 10 Fastest Dying Towns
Here's a bleak list from Forbes — America's 10 Fastest-Dying Towns. Many of the towns have something in common — manufacturing jobs moving overseas or to cheaper, more rural, areas. More » -
recessions
Peanut Butter, Dessert Of The Year
You know things are bad when Bon Appetit names "peanut butter" as "dessert of the year." Wait 'til you see what fancy restaurants are doing with Hamburger Helper! [Bon Appetit] (Photo: Derek Purdy)
economy
New York, 1:22 AM
Tue Jan 6
30 posts in the last 24 hours
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