News

Recession Briefing 3.23

What you need to know today to survive and thrive in the recession.

The Obama Administration is hoping to round up as much as $1 trillion from private investors to support its plan to buy up banks’ toxic assets. The government plans to offer subsidies like low-interest loans to coax the private funds to invest. (New York Times)

With cuts looming at many businesses, workers are using less and less of their “flex time” and other benefits that allow them to work at home sometimes, and take family leave or paid sick days. (Washington Post)

The recession has stalled the building of skyscrapers around the world. Globally, work has been halted on 142, or 11 percent, of 1,324 skyscraper projects, including 29 of 301 U.S. projects. (Reuters)

Faced with ad page declines of 30%-40%, Condé Nast, a magazine company long known for giving lavish perks to top editors, is battening down the hatches. (New York Post)

With more and more families filing for bankruptcy protection, there is an increased call for reform — and an acknowledgement that previous reform efforts didn’t do the job. (USA Today)

A U.S. Attorney’s office mistook an email from a Congolese scam artist for a letter from one of Bernie Madoff’s victims. (BoingBoing)

The recession has brought prices of goods and services down across the country. But after the recession passes, will consumers be amenable to a return to the old prices? (BusinessWeek)

Whether they’ve been forced out of jobs or are simply looking for a cheap opportunity, many entrepreneurs are taking the opportunity to start new businesses. (Christian Science Monitor)

“It hurts to lose your own money in the market, but losing the money you have set aside for your children is agonizing.” Here’s a look at what has happened to many parents’ 529 funds for their children’s college educations. (Wall Street Journal)

Retail stores are tying all sorts of new tricks to get consumers to spend money again. A study says that initiatives such as Wal-Mart Stores Inc.’s Great Value private-label expansion or Macy’s Inc.’s “My Macy’s” will be increasingly popular among retailers. (Marketwatch)

Tags: bailout, bankruptcy, economy, media, News, politics, real estate, Spending and Saving, toxic assets, Wall Street