News

Recession Briefing 4.13

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

GM has been told by the Treasury Department to lay the groundwork for a possible bankruptcy filing, despite the company’s claims that it can reorganize outside of court. (New York Times)

$80k for a year of not working? New York law firm Skadden, Arps, Slate, Meagher & Flom is offering some employees the possibility of taking a year off for one-third of their salary. (New York Times)

James Surowiecki looks at the strategies companies employ during a recession, and which are most likely to pay off. “Although deep pockets help in a downturn, recessions nonetheless create more opportunity for challengers, not less,” he writes. (The New Yorker)

Even famously liberal San Francisco is cutting its aid to the needy as it tries to bridge budget gaps caused by the recession. (Christian Science Monitor)

Could the bad economy be contributing to a rise in family violence? (AP)

The folks at AIG may think the entire world hates them for their role in the economic downturn, but a class of DC fourth-graders has sympathy for their plight. (Washington Post)

State lotteries are seeing their profits fall as players have fewer discretionary funds to devote to games of chance. (USA Today)

Ultra-luxury spas and resorts seem to be the hardest hit by the downturn: “To some … those detoxifying body wraps and anti-aging facials seem be out of touch with the moment. There is a kind of ‘recession chic,’ and maybe the Roman-style holiday isn’t it.” (The Big Money)

Some unlikely celebrities — including economists and academics — have emerged as a result of the recession. Here are 10 of the brightest stars of the downturn. (The Daily Beast)

In a seemingly recession-related trend, more folks in the U.K. are heading to church. (Financial Times)

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

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