News

Recession Briefing 3.31

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

GM’s Hummer brand has seen sales fall off so sharply that the carmaker may announce today that it will stop making the extra-large SUVs. (New York Times)

They don’t show up in statistics, but underemployed freelancers and involuntary part-timers are the hidden casualties of the recession. (BusinessWeek)

Responding to the recession’s new marketing landscape, companies are targeting consumers’ job-loss fears and offering relief. Some are offering refunds, rebates, or special offers if the buyer is subsequently laid off. (USA Today)

The tide of foreclosures across the country is continuing to rise, even as lenders are working to help mortgage borrowers get current on their payments. (CNN/Money)

The recession is wreaking havoc on the Social Security Trust Fund. Rising unemployment is cutting into payroll tax revenue, and as a result the trust fund’s annual surplus is forecast to all but vanish next year. (Washington Post)

There has recently been a surge in vodka sales, with a particularly large spike in so-called “value” and “popular” brands, which cost less than $9 per bottle. (Slashfood)

Think a contract is written in stone? Maybe not: the depth of the recession and government bailouts have emboldened some managers to tinker with employment agreements. (New York Times)

With the credit crunch continuing to bear down, more small businesses are looking to micro-lenders for financing that typically ranges from as little as $500 to $35,000. (Wall Street Journal)

As building grinds to a halt due to the recession, architecture firms all around the world are hurting. In Germany, many small architecture firms are shutting down, while others are casting all around the world for new projects. (BusinessWeek)

Jonathan Burton looks at some ways that you can save money when times are tight. He advises making itemized lists of your expenses, prioritizing, creating an emergency fund, and hunting for discounts (Marketwatch)

If you come across a good article or blog post about the recession pass it on.