News

Recession Briefing 4.24

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

Sleeping pill sales are on the rise as more Americans are losing shuteye over the difficult economy. (New York Times) Here’s how to sleep through the recession. (Recessionwire)

Americans are reclassifying luxury and necessity as a result of the recession. In a 2006 Pew survey, 68% said a microwave was a necessity; now that’s 47%. And 52% say a TV is a necessity today, down from 64% in 2006. (USA Today)

More Americans are turning to gardening in order to cut costs as the recession bears down. (Reuters)

State governments across the country are resorting to furloughs to save money – even though government services remain in high demand during the weak economy. (New York Times)

Thefts and burglaries are up markedly in the U.K., likely as a result of the recession. Muggings are up 25%. (BBC)

Counterintuitive?: McDonalds, which has been seeing profits increase as more people opt for their cheaper fare, is launching a new “upscale” $4 burger. (Washington Post)

“There have been some encouraging signs that the global economic downturn may be slackening,” says U.S. Treasury Secretary Timothy Geithner in an Op-Ed. (Financial Times)

Employers are continuing to make cuts despite a belief that the end of the downturn may soon be near. (Wall Street Journal)

The Animal residents of New York’s Bronx Zoo are the latest victims of recession economics. Faced with a $15 million budget shortfall, deer, bats, foxes, antelopes and other creatures will be sent away to other zoos. (amNew York)

A special report looks at how companies have survived past recessions, and the lessons to be learned from them. (Wall Street Journal)