Screwed: 150 at Sierra Pacific Industries

A daily review of the employment fallout around the country and the world.
California’s Sierra Pacific Industries sawmill lays off 150 workers as part of a series of mill closures… Wells Fargo & Co. cuts 100 positions in Florida’s former Wachovia Corp… Gentex Corp. has let go of another 28 employees… The Democrat Gazette, Arkansas’ largest daily newspaper, has laid off 16 employees…

Recession Lexicon: Recessed

/adj. “Recessed” describes a relatively mild condition of discontent, ennui or disillusion triggered by job loss, portfolio plundering, or home value decline.

Not as serious as the experience of being depressed, feeling recessed can still suck pretty badly, and often requires bailouts in the form of small monetary floaters…

Out on the Street: Good and Evil on Wall Street

“So do you wear a white hat or a black hat?” my lady asked me on our very first date at a hipster Williamsburg restaurant. I summoned my inner Nigel Tufnel and responded: “None more black.”

I remember thinking, What kind of question is that? Do you really think I am a bad guy because I work on Wall Street? If I hadn’t found her so otherwise interesting and attractive, I would have taken serious offense. I told her that I hoped my job didn’t define me. I’m also a dad with three kids. (F.Y.I. to all the divorcées out there: talking about the kids is not great first date rap.) I struggle with playing guitar. I am a good skier. And when I get my cook on I can make a mean Mexican meal (and a margarita not for the faint of heart.) In my job, I in fact considered my hat to be white. I was part of system, I reasoned, that helped finance developing countries and raise living standards. My job as a trader was to reward governments for following the best economic policies for their people and to punish those that didn’t.

That was in November 2006, when I was riding high in the midst of the most successful year I’d ever had professionally. Today there is a black cloud over Wall Street. I wonder how our first date would have gone if we had met in March 2009…

Recession Briefing 5.4

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

One type of business that’s doing well as people are scraping to make ends meet: dollar stores. (New York Times)

Another group of professionals faring pretty well? Lobbyists. (Associated Press)

Some law firms are saving money by deferring incoming associates that they have hired — at a cost of $80,000 a year. (CNN/Money)

Looking to live somewhere that’s recession-proof? A recent study has found that Jacksonville, N.C., Rochester, Minn., and Kennewick, Wash., are among the least affected. (MSNBC)

Screwed: 2,000 at BASF

A daily review of the employment fallout around the country and the world.
Germany chemical company BASF plans to layoff at least 2,000 employees… The University of Washington is laying off up to 800 staff positions to take effect before the next fiscal year begins in July… Sovereign Bank plans to eliminate 950 jobs… Abercrombie & Fitch will cut 170 jobs in its Columbus, Ohio headquarters…

2 Ways the Recession is Good for Romance

The recession will affect relationships in different ways, and just how couples deal with economic turmoil will depend on a multitude of factors. While the prevailing tone of this roundup (of perspectives on what happens to couples as they wade through financial woes) by the editors at The New York Times is a tad negative, a few panelists shed light on positive points. Here are those that rose to the fore:

Talking through the tough times can strengthen relationships, pointed out Pepper Schwartz, a sociology professor at the University of Washington. “A bad economy can force people to take up these difficult conversations. If couples are honest and compassionate with one another, if they learn to work it out as a team, they could emerge with a better relationship,” wrote Schwartz. Difficult times spawn deep, solution-seeking discussions. It’s the act of plowing through the issues and mining for fixes together that can build intimacy, connectedness and ultimately bring couples closer together…

The Book Reporter: Elsewhere, U.S.A.

Having a job in today’s economy feels lucky, but the pressure’s on to keep up a relentless pace. In his new book, Elsewhere, U.S.A., social scientist and NYU professor Dalton Conley shines a light on the hyperconnected, telecommuting, multitasking, 24/7 world that keeps us running to catch up with the last email, glued to our gadgets for fear of incurring “opportunity cost.” This linked-in dynamic means that for the first time in history, “the more we are paid, the more hours we work.” Dalton articulates the frustration of today’s workers, who literally risk their lives checking BlackBerries as we drive and cross the street, pinged incessantly by co-workers and bosses who measure productivity by the number of sent emails. The important work of processing, reflecting, and thinking is something that we feel we can’t afford. And leisure? Forget it. That’s something for the poor.

We live in a twilight world of “Elsewhere” because we’re never fully present in our lives…

At the End of Your Robe: Best Sites for Discount Shopping

You don’t need to be on your toes anymore to score the best deals on the best clothes—you just need to be online. Over the past few years, some fabulous sites have sprung up that offer bargains that were once limited to sample sales in New York, discount codes, inexpensive basics, and even cash back on clothing purchases. These seven websites will get you in the know and have you saving like a fashion insider.

Gilt Groupe
My favorite online secret. Gilt Groupe offers daily sales on the best men’s and women’s designer merchandise at incredible savings—think Zac Posen, Alvin Valley, Jack Spade.

Screwed: Potential 4,000 in NYC

A daily review of the employment fallout around the country and the world.

Mayor Bloomberg’s new plan may result in nearly 4,000 layoffs for New York City workers… Swiss Bank UBS has eliminated 2,000 U.S. employees as part of the downsizing plan they’d announced last month… NASA plans to cut 900 manufacturing jobs over the next several months…Chrysler plants across the country are bracing for the ripple effect of the company’s bankruptcy: yesterday the plant in Rogersville, MI shut down temporarily, idling 200 workers…

Recession Briefing 5.1

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

The recession is causing increased workday snacking in the U.S., according to a new study. (Reuters)

They may not be feeling the pain as much as, say, the folks they laid off, but CEOs saw their pay take a dive last year also. But that may not be the whole story: Even AIG’s “dollar-a-year” CEO, Edward M. Liddy, received side compensation worth about $460,000 in 2008. (USA Today, New York Times/Dealbook)

According to online prediction market Intrade, there is a 20 percent chance that the U.S. will fall into a depression. (New York Times/Economix)

So far, the recession seems to be driving entrepreneurship, rather than stifling it. A new study found that an average of 320 out of 100,000 adults created a new business each month last year. (Wall Street Journal)…