Archive for February, 2009
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Recession Briefing 2.23
What you need to know today to survive and thrive in the recession.
A Dose of Deference and Earnest Showbiz (NY Times)
Jackman channels Depression-era glamour at the Oscars. He sang, he danced, he sat on Frank Langella’s lap and he also presented the 81st annual Academy Awards. Hugh Jackman was a shrewd, even thrifty choice for a recession-era Oscar night — the hosting equivalent of a value meal.
Disagreements About Stimulus Embroil G.O.P. (NY Times)
Republican governors split sharply during the weekend over how to respond to the economic crisis, a debate whose outcome will go a long way toward shaping how the national party redefines itself in the wake of its election defeats of recent years.
Mickey Rourke, Avatar of Excess. Or Angel of Redemption?
Through the extraordinary arc of his career, Mickey Rourke has personified our obsessions, our excesses, and now, finally, the possibility of our redemption.
Way back in the mid-eighties, in 91/2 Weeks, he cast his knowing gaze on Kim Basinger, playing an arty type who works for peanuts in a SoHo gallery. New York City is grey and gritty, filled with predatory squeegee men and homeless bodies that the resigned masses hopscotch over on their morning commute…
At the End of Your Robe: 10 Tips for Making the Most of Your Closet Misfits
Each week, stylist Julie Greene offers expert advice on looking fierce in a financial crisis.
We all have them: Outdated, worn out, tired looking clothes that need a little—or a lot of—TLC. In more prosperous times, we can just toss and replace them. These days, it makes sense to get the most out of what you’ve already got. With a little creativity and a few dollars, you can make awkward items live up to their potential.
The Upside of the Dow’s Turn
The Dow Jones Industrial Average fell to a six-year low yesterday and has sunk lower today, which would seem to be bad news any way you cut it. Even smart equity bargain-hunters we know are staying away, saying they have no feel for where the bottom of the market is.
There are small (very small) advantages to a down index, though. Restaurants and bars around the country have tied their prices to the stock market as a recession marketing tool. You’ve probably stopped checking your 401(k) balance, but on days when you know it’s taken a dive, you can drown your sorrows in cheap food and drink. Caveat: Since most of these joints are trying to drum up business during off-hours, you might have to start as trading ends.
No Crisis in This Country
Ever since I left Manhattan for the quiet country life two years ago, I’ve missed the feeling of being in the center of the action: Buying the latest boots or colorful trench or micro-mini the morning it hits the stores, knowing about the hot new book before it’s on shelves because I met the author at a cocktail party, swapping ideas that just may become the next cultural trends. But being on the periphery is much more appealing these days. In New York City, everyone is talking recession. In New Paltz, the village up the Hudson where I live, everyone is discussing seed catalogues and tire chains and the estimated date for the last freeze.
The recession just isn’t happening with the same force in the Catskills. Sure, housing prices are down, grocery bills are up, and my babysitter just lost her day job at a non-profit. But most people in this laid-back, outdoorsy, grow-your-own-food-then-compost-it college town didn’t make or spend much money in the first place.
Screwed: 19,000 at Anglo American
A daily review of the employment fallout around the country and the world.
Following a 29 percent fall in profit last year, mining conglomerate Anglo American said it would lay off 19,000 workers. … Embraer cut 4,300 jobs as it lowered its 2009 revenue guidance and planned to deliver 28 fewer aircraft. … Boeing will issue 1,100 layoff notices today as part of its planned 4,500-strong layoff. … With the closing of its Granite City, Ill. operation, U.S. Steel will let 390 workers go.
Recession Briefing 2.20
What you need to know today to survive and thrive in the recession.
Spring Training: Economic Boom or Bust? (Business Week)
Florida and Arizona, hard-hit by housing woes, need the money spring training brings, but this year corporate and tourist dollars are scarce.
5 Emerging Trends from the Recession (Brazen Careerist)
Among them: cost-consciousness, hating boomers and more sex.
Traveling Tight: Hedge Your Health
Tough economic times may tempt you to dispense with insurance when you plan your getaway. Please resist! The quickest way to compromise your bank account, not to mention your sanity, is to start thinking of insurance as a luxury.
The main travel insurance plans available are trip insurance and travel medical.
Signs of the Recession: Candy Crunch
Here’s one fresh perspective on this economy, spotted at the Austin, Texas, farmer’s market:
Chocolatier Tom Pedersen is founder of Cocoa Puro and producer of chocolate-covered cocoa beans, one of the most addictive sweet snacks ever bagged. Despite that, his business has taken a hit. “It seems everyone thinks the world is coming to an end so there’s no point in buying chocolate,” Petersen says. “I’d think the opposite would be true.”
2001 All Over Again
For those of us in the mid-to-late thirtysomething category, this recession has a specific discomfort to it. The recession of 2001 is still a sharp memory, and today’s turmoil rustles up primal and unpleasant memories of that year’s slump.
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