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Recession Briefing 3.25
What you need to know today to survive and thrive in the recession.
President Barack Obama went on prime-time television last night to argue that the many efforts he is making to turn the economy around are beginning to take root. “We are beginning to see signs of progress, he said. (BusinessWeek)
“Would you like 10 more three-day weekends per year?” asks Frank Ahrens. “Would you still take them if the third day was unpaid — and if your alternative was getting laid off?” (The Big Money)
The financial devastation of the past year has wreaked havoc on many nest eggs, making money conversations between adult children and their aging parents more important than ever. (Wall Street Journal)
As the recession has worsened, Americans, particularly adults, have been consuming growing volumes of candy, say candy makers, store owners and industry experts. (New York Times)
Many newspapers are struggling to survive, and new bill has been put forth in Congress to help them. Senator Benjamin Cardin’s legislation would allow newspaper companies to restructure as nonprofits with a variety of tax breaks. (Reuters)
If you’re working at a hedge fund, it’s likely you’ll be seeing a bit less money. Pay for hedge-fund employees could drop by 25% this year. (Bloomberg)
How do businesses approach marketing during an economic downturn? Here are some strategies for understanding evolving consumption patters and evolving accordingly. (Harvard Business Review)
Sallisaw, Oklahoma, was home to the fictional Joad family in John Steinbeck’s novel about the Great Depression, The Grapes of Wrath. A reporter sees how the town is faring in the face of a new economic crunch. (Christian Science Monitor)
Things may be bad, but are you really prepared for a worst-case scenario when it comes to your personal finances? Here’s a quick guide outlining what to do when you’ve lost your job or are on the brink of losing your home. (Chicago Tribune)
As the recession grinds on, Madison Avenue is serving up a steady stream of new packaged foods, cars, drugs (prescription and otherwise), menu items (for both sit-down and fast-food restaurants) and beverages ( alcoholic and otherwise). (New York Times)
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