Keyword: downturn

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  • 'Apple creates and supports half a million jobs in US'

    03/05/2012 6:47:50 AM PST · by James C. Bennett · 6 replies
    The Times of India ^ | March 5, 2012 | Nick Wingfield
    Apple has made its first attempt to quantify how many American jobs can be credited to the sale of its iPads and other products, a group that includes the Apple engineers who design the devices and the drivers who deliver them - even the people who build the trucks that get them there. On Friday, the company published the results of a study it commissioned saying that it had "created or supported" 514,000 US jobs. The study is an effort to show that Apple's benefit to the US job market goes far beyond the 47,000 people it directly employs here....
  • Federal Employment Grows Despite Downturn

    10/04/2011 9:12:14 AM PDT · by Nachum · 29 replies
    Mercatus.org ^ | 10/4/11 | Veronique de Rugy
    In the midst of the current economic downturn, there is one group that seems to be prospering: public employees. While the private sector is struggling to grow and create new jobs, federal government jobs are doing quite well. This week’s chart by Mercatus Center Scholar Veronique de Rugy shows the growing number of federal government employees. Using the latest data for annual government employment from the Bureau of Labor Statistics, the chart shows that relentless growth in public sector employment largely overshadows private sector employment. In 2010, there were 22,482,000 government employees. That’s an increase of 1,692,000 employees since 2000....
  • ZUBRIN: Rising oil prices threaten economic crash

    03/19/2011 8:03:22 AM PDT · by Lakeshark · 10 replies
    the Washington Times ^ | 3/17/2011 | Robert Zubrin
    In recent days, oil prices have climbed above $100 per barrel. As chaos spreads through the Arab world, we could soon see much worse. According to recent testimony given to Congress by Federal Reserve Chairman Ben S. Bernanke, the current soaring oil prices are no reason for concern. According to the stock market, which has dropped hundreds of points each time oil prices have edged up another dollar or two, the situation is a five-alarm emergency. Who is right?
  • New Obama plans: 'spend our way out' of downturn

    12/08/2009 10:46:58 AM PST · by Nachum · 17 replies · 522+ views
    Breitbart ^ | 12/8/09 | PHILIP ELLIOTT
    WASHINGTON (AP) - President Barack Obama outlined new multibillion-dollar stimulus and jobs proposals Tuesday, saying the nation must continue to "spend our way out of this recession" until more Americans are back at work. Without giving a price tag, Obama proposed a package of new spending for highway, bridge and other infrastructure projects, deeper tax breaks for small businesses and tax incentives to encourage people to make their homes more energy efficient.
  • HSBC boss warns of second global economic downturn

    10/05/2009 11:30:18 PM PDT · by underthestreetlite · 7 replies · 788+ views
    Mail Online ^ | 06th October 2009 | Sam Fleming
    The head of Britain's biggest bank has warned we could soon be heading into a second recession. Michael Geoghegan of HSBC said he had delayed expansion plans because he fears the upturn could be short lived. The chief executive said the economy could follow a W-shaped trajectory, with the rebound going into reverse and growth retreating into the red. 'Is this a V recovery or a W?' he said in an interview with the Financial Times. 'It's the latter.' Mr Geoghegan's words carry weight because of the global reach of his bank and its track record on identifying economic turning...
  • Workers in Alaska avoid chill of recession

    09/05/2009 2:41:02 AM PDT · by TigerLikesRooster · 6 replies · 792+ views
    FT ^ | 09/03/09 | Cameron Dueck
    Workers in Alaska avoid chill of recession By Cameron Dueck in Tuktoyaktuk, Canada Published: September 3 2009 20:57 | Last updated: September 3 2009 20:57 A caribou stands in front of a refinery in Alaska’s North Slope, where unemployment is lower than elsewhere because of the surging oil industry First it was The Deadliest Catch, then The Ice Truckers and now even Jesse James is a Dead Man has ventured north. Americans cannot get enough reality television coverage of their hardworking Arctic neighbours. While the recession may mean those in the south have more time to watch TV, the Arctic...
  • Car sales in tough times...

    07/25/2009 7:06:21 PM PDT · by brycemax · 2 replies · 110+ views
    In tough times, auto companies will cover your payment if you lose your job. Believe it or not, this is not a new sales tactic... NOTE: The author of this comic requests that you visit his web site and please refrain from copying the cartoon within this thread. Thank you!
  • Southern States Poach Businesses Amid Downturn

    06/13/2009 7:23:19 AM PDT · by TigerLikesRooster · 38 replies · 1,047+ views
    WSJ ^ | 06/13/09 | ANSLEY HAMAN
    Southern States Poach Businesses Amid Downturn By ANSLEY HAMAN When NCR Corp. started looking late last summer to move from its hometown of Dayton, Ohio, economic development agencies in the South pulled out all the stops in a bid to lure the 125-year-old company best known as a cash-register manufacturer. Georgia quickly offered more than $100 million in tax and training incentives. State officials connected NCR with six Georgia research universities willing to license new technologies and train workers. View Full Image Bloomberg News NCR and other companies are moving operations to the South. A Volkswagen plant is seen under...
  • CHART OF THE DAY: The US Housing Bust Looks Like Japan's

    06/11/2009 10:01:32 AM PDT · by FromLori · 4 replies · 2,140+ views
    Robert Shiller recently warned homeowners that it could be a long time before the housing market turned up again, noting that Japan's housing bust took place over 15 years. That seems hard to fathom here, especially considering everything the government's doing to re-inflate the market. But there are certainly similarities. This chart, via the Pragmatic Capitalist, overlays the 10 city Case-Shiller index with Japanese condo prices, when they had their boom. As you can see, the cycle has an eerily familiar look and feel.
  • ADP reports 532,000 May job cuts

    06/03/2009 10:43:30 AM PDT · by Kartographer · 11 replies · 560+ views
    Biz Journal ^ | 6/3/09 | Tucker Echols
    Although there have been signs that the economy is improving, employers still appear to be focused on cost-cutting. Payroll firm ADP reported Wednesday that companies in the U.S. cut an estimated 532,000 workers from payrolls last month. ADP also revised higher its estimate of cuts in April to 545,000 from the previous estimate of 491,000.
  • Downturn bottomed out, Trichet signals(we love second derivative)

    05/11/2009 9:44:03 PM PDT · by TigerLikesRooster · 14 replies · 673+ views
    FT ^ | 05/11/09 | Chris Giles, Daniel Pimlott and Ralph Atkins
    Downturn bottomed out, Trichet signals By Chris Giles and Daniel Pimlott in London and Ralph Atkins in Frankfurt Published: May 11 2009 14:35 | Last updated: May 11 2009 20:36 Jean-Claude Trichet signalled on Monday that the global downturn had bottomed out with some large economies already able to put the recession behind them and look forward to renewed growth. OECD composite leading indicatorsThe European Central Bank president’s comments on Monday in Basel, Switzerland, had added weight because he was speaking on behalf of the world’s leading central bankers, not just for the eurozone. His remarks came as the Organisation...
  • U.S. stock futures drop as DuPont, Merck cut view

    04/21/2009 6:30:30 AM PDT · by TigerLikesRooster · 6 replies · 365+ views
    Market Watch ^ | 04/21/09 | Steve Goldstein
    U.S. stock futures drop as DuPont, Merck cut view By Steve Goldstein, MarketWatch Last update: 7:54 a.m. EDT April 21, 2009 LONDON (MarketWatch) -- U.S. stock futures on Tuesday dropped as blue chips DuPont, Merck and Caterpillar cut their 2009 profit or sales estimates in a largely bleak wave of earnings reports. After early gains, S&P 500 futures fell 6.3 points to 826.60 and Nasdaq 100 futures fell 7.5 points to 1,306.00. Futures on the Dow Jones Industrial Average dropped 65 points. Worries over Bank of America's outlook and the banking sector more generally drove a retreat in U.S. stocks...
  • Social Security's Surplus Disappearing Fast in Downturn

    04/10/2009 10:28:36 AM PDT · by NormsRevenge · 28 replies · 1,010+ views
    Time on Yahoo ^ | 4/10/09 | Justin Fox
    Federal budget worrywarts (myself included) have been fretting for years about the arrival of the Dread Fiscal Year 2017, when Social Security was projected to start becoming a drag on federal finances. Well, no need to worry about 2017 any more. Thanks to the worst economic downturn since the 1930s, the moment of reckoning is already almost here: According to both the budget proposed by the White House in February and projections issued by the Congressional Budget Office (CBO) in March, Social Security benefits ($659 billion, according to the CBO) will exceed payroll taxes ($653 billion) in fiscal 2009 for...
  • Downturn Hits Sesame Street

    03/12/2009 1:45:46 AM PDT · by ComputerGuy · 15 replies · 722+ views
    Financial Times ^ | 3/11/2009 | By Andrew Edgecliffe-Johnson
    The recession has spread from Wall Street to Sesame Street. The home of Elmo and Oscar the Grouch announced on Wednesday that it would eliminate a fifth of its 355-strong workforce as market turmoil ate into its income and assets.
  • Doctor 'Doom' speaks, is anyone listening

    03/02/2009 10:46:21 AM PST · by Kartographer · 4 replies · 576+ views
    Yahoo Finance ^ | 3/2/09 | Aaron Task
    A year ago Roubini was forecasting an 18-month recession with a U-shaped recovery; now, he's now expecting the downturn to last at least 24 months and possibly 36-months. He also sees rising risks of a Japanese-style L-shaped stagnation, i.e. a prolonged period with little or no economic growth.
  • Today's Outrage: Pessimism is Self-Fulfilling (Mocking Negativity)

    01/27/2009 6:29:52 AM PST · by mnehring · 20 replies · 389+ views
    Stock futures are pointing to a rising market Tuesday, but I still worry that the market will find a reason to go south instead. Rampant, persistent pessimism is becoming a self-fulfilling prophecy. The disease already spread to companies and consumers. Can't anyone see the good side of bad? Take Hershey (HSY Quote - Cramer on HSY - Stock Picks), for example. The Pennsylvania chocolate maker said sales and profit rose more than 50% in the fourth quarter as it increased advertising spending on its core brands, Reese's and Hershey's. That's good news, right? But no doubt the market will interpret...
  • Clarke and Dawe discuss the market meltdown (Obama-nomics Explained)

    01/03/2009 1:56:54 PM PST · by Reaganesque · 3 replies · 342+ views
    YouTube.com ^ | ? | Clarke and Dawe
    Click here for the video. A very funny and accurate view of what the Dems want to do with our money. Clarke and Dawe are a comedy team from Australila who do mock interviews.
  • "Developing Asia To Record Healthy Growth Rates" (Indian Business Newspaper)

    11/17/2008 11:37:21 PM PST · by AmericanInTokyo · 2 replies · 326+ views
    The Hindu Business Online ^ | 18 November 2008 | Our Bureau
    ‘Developing Asia to record healthy growth rates’ Our Bureau New Delhi, Nov. 16 Asian Development Bank (ADB) does not expect a full-blown financial crisis in India even as it forecasts a lower economic growth of between 6-7 per cent for 2009, lower than the 7.8 per cent expected this year. “We don’t expect a financial crisis (in India) because of the fundamentals. The economic side has not worsened. Developing Asia will slow down but continue to record healthy growth rates,” Mr Rajat M. Nag, Managing Director-General, ADB, said at the India Economic Summit 2008 here on Sunday. He highlighted that...
  • Bad economy forces Disney employees to seek a second job to make ends meet!

    11/16/2008 2:32:26 PM PST · by brycemax · 15 replies · 1,074+ views
    Just how bad is the economy? The housing industry is in the tank, banking institutions are getting bailouts, and companies that are traditionally very strong are feeling the negative effects! Even Disney has problems, and its employees are forced to seek secondary employment to make ends meet! NOTE: The author of this cartoon requests that you visit his web site and please refrain from copying the cartoon within this thread. Thank you!
  • 401(k) early casualty of downturn (recession would jeopardize employers match - 3% is COOL!)

    11/09/2008 3:41:29 PM PST · by Libloather · 9 replies · 174+ views
    Journal Gazette ^ | 11/09/08 | DAVID PITT
    401(k) early casualty of downturnRecession would jeopardize match made by employers DAVID PITT Associated Press Published: November 9, 2008 6:00 a.m. DES MOINES, Iowa – Retirement accounts already battered by a steep market decline might get hit again as several companies suspend or reduce their 401(k) match to save cash. **SNIP** Matching contributions average about 11 percent of a company’s profits, according to a recent survey of more than 1,000 companies by the Profit Sharing/401k Council of America. **SNIP** “This is a recession-type of response. These employers are really up against it and they have to decide to cut somewhere...
  • US stocks suffer on fears for economy (dow -344)

    09/05/2008 2:57:22 AM PDT · by TigerLikesRooster · 15 replies · 297+ views
    FT ^ | Michael Mackenzie and Krishna Guha
    US stocks suffer on fears for economy By Michael Mackenzie in New York and Krishna Guha in St Paul Published: September 4 2008 21:56 | Last updated: September 5 2008 01:32 US stocks fell for a fourth successive day, re-entering bear market territory, as rising jobless claims and weak retail sales figures raised fears about the health of the economy. The market retreat came only hours before John McCain was due to accept the Republican presidential nomination with a speech that focused on his record of service and called for bipartisan co-operation in Washington. In an interview with the Financial...
  • Dr. Doom - Economic doomsday by economist Nouriel Roubini

    08/18/2008 5:53:15 AM PDT · by txzman · 14 replies · 1,142+ views
    New York Times ^ | August 17, 2008 | STEPHEN MIHM
    On Sept. 7, 2006, Nouriel Roubini, an economics professor at New York University, stood before an audience of economists at the International Monetary Fund and announced that a crisis was brewing. In the coming months and years, he warned, the United States was likely to face a once-in-a-lifetime housing bust, an oil shock, sharply declining consumer confidence and, ultimately, a deep recession. He laid out a bleak sequence of events: homeowners defaulting on mortgages, trillions of dollars of mortgage-backed securities unraveling worldwide and the global financial system shuddering to a halt. These developments, he went on, could cripple or destroy...
  • The Euro Zone Is Headed for a Bumpy Ride

    08/07/2008 5:11:50 AM PDT · by DeaconBenjamin · 5 replies · 122+ views
    Spiegel ^ | 8/7/08
    Though most of Europe has avoided the real estate slump, the euro zone is feeling the pinch from disparities among its member states.For most of August, business across Europe grinds to a halt as ... the Continent head[s] off for month-long vacations. This year, Europe's sun-seekers may want to savor their time away from the office a little more than usual. That's because bad economic news awaits their return to work as the euro zone moves headlong toward recession. Business activity hit a seven-year low in July, and growth in the region's gross domestic product is expected to slump to...
  • Federal Reserve steps in to prevent financial meltdown

    03/17/2008 1:48:03 AM PDT · by bruinbirdman · 71 replies · 1,549+ views
    The Telegraph ^ | 3/17/2008 | Richard Blackden
    The dollar tumbled and stock markets were left reeling after the Federal Reserve unveiled new measures designed to prevent a meltdown in global financial markets and Bear Stearns was sold for $240m. Meeting over the weekend, Fed Chairman Ben Bernanke cut the so-called discount rate at which it is prepared to lend to banks to 3.25pc and said it will lend more to the 20 big banks that make the market for US government debt. Coming a day before the Fed was scheduled to meet on interest rates, the action signals that the central bank is increasingly fearful of an...
  • UPDATE 2-BOJ's Fukui warns of mounting downside econ risks

    02/20/2008 3:29:19 AM PST · by TigerLikesRooster · 1 replies · 52+ views
    Reuters ^ | 02/20/08 | Yuzo Saeki
    UPDATE 2-BOJ's Fukui warns of mounting downside econ risks Wed Feb 20, 2008 2:51am EST (Adds Fukui comments) By Yuzo Saeki TOKYO, Feb 20 (Reuters) - Bank of Japan Governor Toshihiko Fukui said on Wednesday downside risks to Japan's economy may heighten as global economic adjustments continue, reinforcing market views that the bank will keep rates on hold or even cut them later this year. Fears of more credit problems at financial firms pushed down Tokyo shares by more than 3 percent on Wednesday and Fukui, whose term expires next month, signalled that investors' waning risk appetite could continue to...
  • First the credit crisis, now the fashion crisis

    02/13/2008 4:17:31 PM PST · by TigerLikesRooster · 2 replies · 79+ views
    FT ^ | 02/13/08 | Jonathan Guthrie
    First the credit crisis, now the fashion crisis By Jonathan Guthrie Published: February 13 2008 18:18 | Last updated: February 13 2008 18:18 Wouldn’t you know it? You get invited to the first must-attend economic slowdown in ages and you simply haven’t a thing to wear. But it’s tough knowing what clothes to buy. The palette, naturally, should be subdued. Ash grey, maybe? And as for fabric, why not channel that new eco-friendly vibe? Something in organic sackcloth, perhaps? Fashion businesses are feeling the pinch, judging from a visit I made to London Fashion Week that coincided with the release...
  • 6 Reasons We Won't Get a Recession

    09/28/2007 3:45:12 PM PDT · by TheLineMustBeDrawnHere · 40 replies · 66+ views
    USNews & World Report/CapitalCommerce blog ^ | Sept. 28, 2007 | James Pethokoukis
    After perusing the blizzard of U.S. economic data that we've gotten this week, you could easily—and quite plausibly—draw this megaconclusion: The Federal Reserve will cut interest rates again, inflation is under control, and while the economy is weakening, it won't slip into recession. Here is the evidence: 1) Yes, the housing market is still dreadful. New-home sales in August hit their lowest point in seven years and are down 21 percent from a year ago. But don't forget that housing is less than 5 percent of the total economy. It's not the whole ballgame. 2) Employment remains amazingly resilient. Initial...
  • Japan's economy shrinks, adding to global concerns

    09/10/2007 3:44:25 PM PDT · by TigerLikesRooster · 8 replies · 254+ views
    AFP ^ | 09/10/07 | daniel brooks
    Japan's economy shrinks, adding to global concerns by Daniel Rook Mon Sep 10, 4:46 AM ET Japan's economy contracted in the second quarter of 2007 as firms cut spending on new factories and equipment, the government said Monday, adding to jitters over the global economic climate. The setback to Japan's economic recovery, which comes just as the US economy shows signs of faltering, further reduced expectations of the Bank of Japan raising its super-low interest rates again any time soon. Japan's gross domestic product (GDP) shrank by 0.3 percent in the three months to June from the previous quarter and...
  • General Notes Downturn in Violence, Increased Confidence in Iraq

    03/14/2007 4:33:30 PM PDT · by SandRat · 3 replies · 235+ views
    WASHINGTON, March 14, 2007 – Violence is down in Iraq and Iraqis “are starting to see this growth and gaining new confidence,” a coalition spokesman in Baghdad said today. Army Maj. Gen. William Caldwell told reporters at a news conference that the decrease in violence has created an opportunity for new progress. Combined efforts between coalition forces and Iraqi fighting forces have brought down the level of violence in the Iraqi capital, Caldwell said. “Iraqi forces are getting better each day, and are demonstrating the commitment needed to defend the government and the people,” he added. He cited two...
  • Intel Overhauls Chip Lineup -- Shuffles Executive Ranks

    07/24/2006 1:55:24 PM PDT · by Zakeet · 11 replies · 629+ views
    InformationWeek ^ | July 24, 2006 | Aaron Ricadela and Darrell Dunn
    The bad news never seems to end for Intel. Soft financials, management cutbacks, and a shake-up of senior executives are just the latest developments amid sliding sales and market share. The world's largest maker of microprocessors wants to change the conversation from the mistakes of the past to the promise of the future. Step one: an overhaul of its processor lines. Intel last week introduced five new versions of its high-end Itanium 2 chips. This week, it formally introduces its mass-market Core 2 Duo platforms for desktops and notebooks. The company will introduce quad-core versions of its processors for servers...
  • Why you haven't "reinvented" your company - 5-5-2005

    10/19/2005 8:00:16 AM PDT · by vannrox · 1 replies · 596+ views
    Machine Design Magazine ^ | 31 August 2004 | Ronald Khol
    The word "reinvent" is a dumb term, having an overtone of redundancy. After all, when you have invented something, it exists. You can revise it or change it, but you can't "reinvent" it after you have already invented it. I never heard the term when I first entered the workforce. But somewhere in the 1970s or so, corporate executives-began using the word, and using it a lot. Then as now, the nation had its usual economic ups and downs, but suddenly after one downturn, our nation was heavily laden with companies that had reinvented themselves. What happened is that after...
  • CA: Davis' tax plan could leave state more vulnerable to next downturn

    03/02/2003 4:03:19 PM PST · by NormsRevenge · 2 replies · 309+ views
    SJ Mercury News ^ | 3/2/03 | Mark Gladstone
    <p>With the state budget hemorrhaging red ink, Gov. Gray Davis in January floated a controversial plan to raise taxes by more than $8 billion to help balance the books.</p> <p>But while Davis' plan would raise heaps of cash, it fails to address many of the weaknesses in California's tax structure that helped trigger fiscal disaster in the first place.</p>
  • No more Grand Slams for FReeper Registered

    12/10/2002 7:49:27 PM PST · by Registered · 109 replies · 493+ views
    Muskegon Chronicle-hard copy ^ | 12-10-02 | Lynn Moore
    No more Grand Slams for FReeper Registered After 22 years, restaurant closes its doorsDenny's Restaurant, a virtual institution among late-night diners, abruptly closed its doors for good Monday afternoon, citing lagging business.The Norton shores restaurant, which opened in 1980, closed at 3 pm Monday. The restaurant was hurt financially by safety and security concerns that forced the corporation to stop making it a 24-hour eatery-a "trademark" of Denny's restaurants, a corporate spokeswoman said.Customers (Like Me) and workers were not given advance warning the restaurant would be closing, said Melanie Mathews of Muskegon, a (darn good) server at the restaurant. Employees,...
  • When Pots Call Kettles Black [re: U.S. financial advice now earns laughs]

    07/26/2002 4:51:46 PM PDT · by First_Salute · 8 replies · 248+ views
    Bloomberg.com ^ | July 26, 2002 | William Pesek Jr.
    <p>Bangkok, July 26 (Bloomberg) -- Greetings from Thailand, where accounting standards are more rigorous than those found in the U.S.</p> <p>A bold pronouncement for sure, yet that's exactly what Thailand's Securities and Exchange Commission is saying these days. In the wake of scandals at Enron Corp., Global Crossing Ltd., WorldCom Inc. and elsewhere, Thai regulators are calling on investors to be careful about putting money into the world's biggest economies.</p>