economy

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We Need New Leadership, Now
 We Need New Leadership, Now 
OPINION
Nov 23, 2008 6:32 AM CST

We Need New Leadership, Now

Washington's following 'business as usual' amid crisis

(Newser) - Washington is carrying out “business as usual in the most unusual economic moment of our lifetimes,” writes Thomas Friedman in the New York Times. It’s time for our leaders to wake up to the enormity of the financial crisis, the real "weapon of mass destruction,"...

Frazzled Investors Turn to Psychics for Help

Investors flock to psychics for economic insight

(Newser) - Maybe they failed to predict today's economy, but psychics are certainly profiting from it, the New York Times reports. Frustrated with traditional financial advice, many investors are booking appointments with soothsayers, who say their business is on the upswing. “Your mortgage agents, your realtors, your bankers, you can’t...

Oprah's Newest Favorite Thing: Thrift

Talk-show host's holiday goodie bag will be unusually downscale this year

(Newser) - Oprah’s favorite things this year are cheap, cheap, cheap, Us Magazine reports. The TV host, who usually gives away pricey items on an annual holiday show, will bow to the economy and push affordable stocking-stuffers instead. The Nov. 26 airing also includes DIY tips, with viewers meeting “a...

Putin Promises to Help Sliding Russian Economy

With many paychecks weeks behind, crisis reminds nation of '90s collapse

(Newser) - Vladimir Putin proposed steps yesterday to stabilize the Russian economy as layoffs and deferred wages cause rising insecurity about the nation’s finances, the Wall Street Journal reports. Russian firms now owe $145 million in delayed wages to 300,000 people, and those figures may actually be higher—a fifth...

Economy's Tanking Too Fast to Wait for Obama: Krugman

The downtime before inaguration could make things grimmer yet

(Newser) - The state of the economy right now reminds Paul Krugman a lot of the start of the Great Depression, including a lame-duck administration that seems to have no credibility, hence no influence on the markets, the columnist writes in the New York Times. Drastic damage was done to the country...

Bailout Wait 'Nerve-Wracking'
 Bailout Wait 'Nerve-Wracking' 
Nov 21, 2008 1:50 AM CST

Bailout Wait 'Nerve-Wracking'

Hearings 'more hostile than expected,' says Wagoner

(Newser) - Two grueling days of congressional hearings on a bailout for the auto industry were "hostile" and the wait for an answer is "nerve-wracking," General Motors CEO Rick Wagoner told the Detroit News yesterday. GM is ready now to show Congress detailed restructuring plans to convince lawmakers to...

In Need of a Buck, Many Donate Plasma

Donors seek 'a little extra gas money'

(Newser) - With unemployment and costs of living up, blood plasma donations are an increasingly popular option for those in need of a little extra cash, the Chicago Tribune reports. Donors compensated with $20 to $45 are an invaluable part of a $10 billion dollar industry that supplies drugs to fight hemophilia...

Rahm to CEOs: Get on Board With Health Care

'We’re going to have to do big, serious things,' staff chief tells council

(Newser) - Rahm Emanuel has avoided the spotlight since accepting the White House chief of staff job, but he was anything but shy last night at the Wall Street Journal CEO Council, challenging his high-powered audience to help on health care. “When it gets rough out there, a lot of business...

Consumer Prices Dive 1%, Biggest Drop in 61 Years

Oil's record decline leads to 1% overall drop

(Newser) - Consumer prices in the United States plunged by the largest amount in the past 61 years in October as gasoline prices dropped by a record amount. The Labor Department said today that consumer prices fell by 1% last month, the biggest one-month decline on records that go back to February...

Paulson: We're Doing the Right Thing

Bush administration 'creatively working' on financial crisis

(Newser) - On the eve of his testimony before Congress, beleaguered Treasury Secretary Henry Paulson used last night's speech to defend the administration's response to the nation's "unprecedented" financial crisis. Paulson said without the $700 billion Wall Street bailout, things would be even worse, ABC News reports. "It's hard to...

Healthiest US City Gets Moving
 Healthiest US City Gets Moving 
Nov 17, 2008 2:27 PM CST

Healthiest US City Gets Moving

Burlington, Vt., tops list due to active citizens; Huntington, W.Va., is unhealthiest

(Newser) - Burlington, Vt., is America's healthiest city, with 92% of residents reporting that they're in good or great health. A number of factors account for the gap between Burlington and Huntington, W.Va., which brought up the rear in the CDC's healthy-city rankings, the AP reports. Burlington's residents are younger on...

Ex-Sen. Gramm Sticks to His Guns on Deregulation
Ex-Sen. Gramm Sticks to
His Guns on Deregulation
ANALYSIS
Nov 17, 2008 10:29 AM CST

Ex-Sen. Gramm Sticks to His Guns on Deregulation

Republican touts benefits of subprime loans, credit-default swaps as critics cry foul

(Newser) - While some experts argue his work contributed to the economic meltdown, former senator Phil Gramm stands by his efforts to deregulate the lending and financial sectors, the New York Times reports. “There is this idea afloat that if you had more regulation you would have fewer mistakes,” Gramm...

Summit Puts Off Thorniest Questions Until Next Year

(Newser) - Today's summit of world leaders may have found broad agreement on the need for bold reform of the global markets, but it left the toughest decisions to future meetings, the Wall Street Journal reports. The broad strokes include greater oversight of banks and credit-rating agencies, a review of executive pay,...

Palin's Flop Shows Gender Doesn't Sway Women Voters

It's the agenda, stupid: Goodman

(Newser) - This election showed a female candidate won’t automatically draw women’s votes if most women disagree with her on the issues, Ellen Goodman writes in the Boston Globe: “It’s not the gender … but the agenda.” With women traditionally putting economic issues—and more governmental control—...

Startups Seek Ways Around Venture Capital

Twitter, others explore other revenue streams to avoid investors' raised demands

(Newser) - While Wall Street investors have taken advantage of the tanking economy to nab low-priced stocks, Silicon Valley’s venture capitalists have likewise enjoyed a buyer’s market, demanding larger ownership stakes in startup outfits in exchange for their coveted funds. Companies like Twitter—initially funded with $22 million in venture...

In Slump, Vegas Pushes Escapism

Marketing gamble by casinos is coming back to haunt them

(Newser) - Las Vegas has enthusiastically promoted itself to travelers interested in pastimes other than gambling in recent years, but now that economic woes are tightening leisure budgets, Sin City is taking a hit, reports Advertising Age. With visitor volume and gaming revenue down, casinos are scrambling to respond. One has a...

New Deal a Good Example, But Not Perfect

Obama must have 'audacity' FDR lacked

(Newser) - With the economy on the rocks, the New Deal is a hot topic. But FDR’s master plan almost failed, Paul Krugman writes in the New York Times, because "his economic policies were too cautious." In the end, "what saved the economy, and the New Deal, was...

Hey, at Least Travel Costs Are Plunging

Airlines, cruises, hotels slash prices for those who can still afford it

(Newser) - There’s a spot of good news for travelers amid the barrage of dire economic reports: Those looking for a flight, cruise, or hotel stay may find surprisingly good deals. As financial woes keep many Americans grounded, the travel industry is forced to drop prices to fill space, the Los ...

Kennedy: Fix Health Care Now
 Kennedy: Fix Health Care Now 
OPINION
Nov 9, 2008 9:16 AM CST

Kennedy: Fix Health Care Now

Don't let economic crisis blind us to broken system

(Newser) - The economy may be gasping, but that doesn’t give us a prescription to neglect health care, Ted Kennedy writes. “We must forge ahead with this urgent priority. The system is broken,” he writes in a Washington Post op-ed. The liberal lion points to recent signs that reform...

Team Obama Weighs Priorites Amid Obstacles
Team Obama Weighs
Priorites Amid Obstacles
ANALYSIS
Nov 9, 2008 7:47 AM CST

Team Obama Weighs Priorites Amid Obstacles

Economy could put other promises on back burner

(Newser) - Between the economic crisis and a host of campaign promises, Barack Obama faces major challenges—and his team is taking time now to sort through priorities for his presidency, the New York Times reports. The president-elect's top priority is the economy, he repeated yesterday in a radio address to the...

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