tagged w/ economic recession
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A brutal study issued last week by a government watchdog holds Timothy Geithner -- then the head of the Federal Reserve Bank of New York and now the nation's Treasury Secretary -- responsible for over-payments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs.A brutal study issued last week by a government watchdog holds Timothy Geithner --... more
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The U.S. Department of Agriculture has revealed that nearly one in six U.S. households -- or some 49 million people -- went hungry at some time during 2008.The U.S. Department of Agriculture has revealed that nearly one in six U.S. households... more
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Nearly half of all U.S. children and 90 percent of African-American kids will be on food stamps at some point during childhood, and researchers say fallout from the current recession could push those numbers even higher.Nearly half of all U.S. children and 90 percent of African-American kids will be on... more
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Late Boomers, the leading edge of the 76 million Baby Boomers, who are about to reach 60 and be eligible for some retirement benefits, have invested their money in large-cap stocks. They have nearly 40 percent of their assets in these blue chip stocks, which are most often favored by conservative investors. They are a little more conservative than younger Boomers, according to a survey of how Boomer executives are investing their money.Late Boomers, the leading edge of the 76 million Baby Boomers, who are about to reach... more
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American Automakers are next in line to receive federal money in the form of a bridge loan.
General Motors shares rose by 21%, while Ford Motor (F) shares climbed 24% on the news. Chrysler is private and majority-owned by private equity firm Cerberus Capital Management.
Congress, having worked through the weekend, delivered a bill on Monday, Dec. 8, to the White House that is designed to bail out the ailing U.S. auto industry with $15 billion in loans. Despite lingering objections by the Bush Administration and Congressional Republicans, it looks as though the aid package will pass.American Automakers are next in line to receive federal money in the form of a bridge... more
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Companies cutting 401k Matches due to Recession
As the recession continues to plague our economy, the next shoe to drop may well be your employer match on your 401k plan. However, there are many things to think about when planning for your 401k strategy.
About 84% of companies in the U.S. offered employees a 401(k) match as of last year.
However, cash strapped companies, reducing or eliminating the retirement contribution may be one way to cut back on costs and save jobs during hard economic times.Companies cutting 401k Matches due to Recession
As the recession continues to... more
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Well, you can stop wondering. It took seven economists 11 months to decide what should seem obvious given all the foreclosures, bank failures, stock market losses, and layoffs - the United States is officially mired in a recession.Well, you can stop wondering. It took seven economists 11 months to decide what should... more
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