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Recession Briefing 6.10
What you need to know today to survive and thrive in the recession.
Congress has approved a “cash for clunkers” bill that aims to boost new auto sales by allowing consumers to turn in their gas-guzzling cars and trucks for vouchers worth up to $4,500 toward more fuel-efficient vehicles. (Associated Press)
Nigerian email scammers have adapted to the recession and are starting to target job seekers. (Gawker)
Seventy-one percent of high-school guidance counselors this year saw an increase in the number of their students who chose a more-affordable option over their “dream school,” according to a survey. (Chronicle of Higher Education)
With cheery, the-future-is-bright advertising and, in some cases, revisionist branding, financial companies are trying to put their troubled pasts behind them, or at least out of the public’s mind. (New York Times)
A survey by the National Retail Federation found that retail crimes such as shoplifting and “fencing” (re-selling goods at pawn shops or on eBay) have risen during the economic downturn. (Washington Post/Small Change)
Though blue-collar trades have suffered greater unemployment than the national average, our current recession may represent a paradigm shift: “Creative” types have also been hit hard by the crisis. (Minyanville)
The endowment of the Bill & Melinda Gates Foundation, the world’s largest private foundation, has dropped $2 billion since January. (Seattle Times)
Brits are drinking more as a result of the recession, according to a study — with half of those who are out of work admitting to drinking more during the day. (Daily Telegraph)
Going against the tide and starting your own business in a recession can be easier than it would be during boom times. Five reasons to consider going solo now. (US News & World Report)
Some businesses are finding that the best price they can charge is nothing at all. Merchants are realizing that giving recession-battered consumers something for nothing can be a good way to get them to buy something else. Related: Should you raise your prices in a recession?(Associated Press, Recessionwire)
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2 comments for “Recession Briefing 6.10”
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In reference to the Nigerian scammers targeting the unemployed… Something similar to this happened to me as well. I replied to a simple “general labor/mover needed” post hoping to get some quick under the table supplemental cash while collecting unemployment. Here was the scammer email I received in reply (note: I did NOT fall for this! ha!):
Hello,
How are you doing?It’s really nice to hear back from you quickly,it shows your effectiveness and i think I’m going to be satisfied if i let you handle the moving,I’m looking for a good and honest person to help with the packing and moving of the listed items from my old to new apt within the area.
2- Three Sitter Couches
1- center Table
1- 21 inches plasma
2- Table Lamps
1- Rug (90 lbs)
I’m willing to pay $500 for moving this items within 20-30 minutes (one or two guys,no stair case or elevator),i think this is a reasonable price since you already have the list of items I’m moving and also the distance,it shouldn’t take more than 2-3 hours to have this items moved,I’m presently in Philippines for contract so i have made a perfect arrangement as advised by my lawyer,the moving payment is to be arranged by my client in states who owes me,though my client owes me more than $500 which i have agreed to pay you for the moving arrangement but there’s nothing to worry about cause you will only be deducting $500 and have the remaining funds wired to the travel agent responsible for my flight here in Philippines,via western union money transfer or money gram.
I want the moving arrangement and payment to be completed before i get back to the states cause I’m such a very busy business man and i know you understand how stressful it can be sometimes,my old apt is an open place so i will only be taking you to the locations in person immediately i get back to the states this month,this is to avoid future problems or argument as advised but i still want everything to be ready before i get back to the states……your payment ($500) and my travel agents payment here in Philippines,i have decided to go about my moving this way and i do not want anything to change afterward or neither will i accept any change in agreement,so if you really think this is not something too much for you to handle…….helping with the packing and moving,receiving moving payment and deducting $500,wiring the remaining funds to the travel agent for my flight via western union or money gram,then kindly get back to me with the information below,
*Name to appear on check
*Physical address (not p o box)
*Cell or Home phone Number
*Email Address
i will forward it to my client owing me immediately so he can issue out the payment to you without delay,you can also try to locate a western union or money gram outlet since i want all arrangement to be on time,thanks for understanding and helping with the move,God bless.
Mark
NOTE: you will be deducting the western union or money gram charges from the travel agents fee before wiring and not from your own personal $500.
I like your site, sincere and useful…Thanks!