Recession Briefing 9.24: Super-Rich Now Thrifty

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

Even the super-rich and those with trust funds are cutting back as a result of the recession. They might not be going poor, but once high-flying socialites are finding that it’s either imprudent or in bad taste to spend the way they once did. (ABC News)

“We’re in one?” asked Texas Gov. Rick Perry recently when asked about the recession. He later said that the quote was taken out of context. (Houston Chronicle)

African Americans and Hispanics have lost more economic ground and done so more quickly than their white counterparts from the end of 2007 to the summer of 2009. (Center for American Progress)…

Screwed: 27,600 at Autovaz

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

Today’s Total: 33,067

Russian carmaker Autovaz is eliminating a whopping 27,600 jobs….AT&T has plans to lay off 2,500 workers nationwide…The mayor of Detroit announced the possibility of 1,000 more layoffs of city workers by Saturday…the city of Dallas has notified 800 workers of impending layoffs due to budget cuts…Genie Industries has handed out 400 layoff notices to its offices in Washington…

Downturnaround Marketing Tip: Message Boards

According to Forrester Research, marketing budgets shrank 20% or more in the last year. Chances are, yours probably has, too. So, if you can’t spend the big bucks anymore, you might want to consider reaching potential clients through a much less expensive method: the online message board.

A message board is an online discussion area modeled after a traditional bulletin board, where like-minded users can join to talk about common issues and relay their own expertise on a variety of subjects. These forums can be found just about everywhere, and can provide fantastic public, free-of-charge marketing opportunities for business owners in a variety of industries…

Recession Lexicon: Dumpies

n./ Downwardly mobile professionals. Closely related to nouveau poor.

The recession has created a class on the flip side of yuppie, comprised of people who are canceling gym memberships, moving from big cities back to home towns, and shopping with coupons at Bed, Bath & Beyond instead of Bergdorf’s. (If they’re shopping at all.)…

Recession Briefing 9.23: Candy is Dandy in Downturn

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

In a broad recession-related shift, many Americans have lost their taste for fancy cars, clothes and vacations, but their appetite for candy, it seems, only has become more pronounced. (San Francisco Chronicle)

The recession is apparently prompting more women to try to delay having babies, according to the first survey aimed at documenting the effects of the economic downtown on childbearing. (Washington Post)

The recession is complicating job hunts — and the lives — of two-career couples, particularly when one lands an offer out of town. The search for employment is forcing more couples into long-distance relationships. (Wall Street Journal)…

Screwed: 300 in Vermont

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

Today’s Total: 599

Some Good News: CEO Carol Bartz reports that there will be no more layoffs at Yahoo!, and GM will bring back 2,400 workers.

Up to 300 state workers may be laid off in Vermont… ConAgrawill let go 300 in North Carolina…Swiss bank UBS AG has laid off 200 U.S. employees from its wealth management department… The Salinas City Counsel is considering a budget cut involving 61 layoffs… In another round of layoffs, 25 workers are cut in Manitowoc County…

The Recession Will End … When Cheap Treats are History and Spending is Back to Normal

[Consumer spending] makes up about 70% of the economy, and the American shopper traditionally has led the nation out of recession. Not this time, most experts say. Consumers have lost about $13 trillion in wealth in the housing and stock market swoons. They’re trying to recoup some of that by socking away any extra cash. The savings rate hit 5.2% in the second quarter vs. a low of 1% before the crisis. And don’t forget tight-fisted lenders, the fall-off in home equity loans amid plunging real estate values, and a high jobless rate that makes even working Americans nervous about their future.

“People are beginning to realize you can’t live beyond your means forever,” says Standard & Poor’s chief economist David Wyss.” (via USA Today)

Why it might be false and consumer spending won’t get us out of the recession: After the Great Depression, many Americans stayed cheap and thrifty long after the economy started to grow—long enough for their children and grandchildren to remember. The Great Recession has been the first major economic disruption in many Americans’ lifetimes, so of course there are questions about whether the effects will be similarly lasting. There is no robust recovery clearly in sight…

How to Negotiate a Job Offer in an Employer’s Market

Finally, the hours of prospecting, submitting resumes, attending networking events, developing new relationships and attending job fairs have paid off. A company has made you an offer.

Now what?

In this environment, you may feel like you’re lucky to get a job offer at all. But you also want to be paid fairly. So how do you cut a good deal? Follow these guidelines.

Recession Briefing 9.22: More Traffic, Less Marriage

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

A broad survey of Americans has provided striking measures of the recession’s effect on life at home and at work: People are now stuck in traffic longer, less apt to move away and more inclined to put off marriage and buying a house. (Associated Press)

The FDIC, which is rapidly running out of money after a wave of bank failures, is considering a plan to borrow money from some of the nation’s healthier banks in order to continue to rescue the sickest banks. (New York Times)

The number of foreign-born residents of the U.S. declined for the first time since at least 1970, as a recession and tight labor market dented America’s image as the land of opportunity. (Wall Street Journal)

Screwed: 400 at Nexans SA

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

Today’s Total: 1,902

Nexans SA will lay off 400 employees in France…Johnson Controls laid off 343 workers from a plant in Spring Hill, Tenn…Sacramento County is preparing to eliminate 342 workers, primarily in health and human services, as a response to a budget deficit…Penske Logistics LLC handed out 300 layoff notices, also in Spring Hill, Tenn…201 workers in the city of Akron, Ohio, will be laid off on October 1^st if negotiations are not successful…Up to 125 workers in Prince George’s County, Md, will be laid off due to state budget cuts…Harley Davidson will cut 71 more employees in York County, Pa…