30,000 pounds of belongings stretched up and down the DC sidewalk. They all belonged to one woman who was evicted after she couldn’t make rent. [More]
economy
"Economical" Are The New "Astronomical" Numbers
By 9.21.10
“There are 10^11 stars in the galaxy. That used to be a huge number. But it’s only a hundred billion. It’s less than the national deficit! We used to call them astronomical numbers. Now we should call them economical numbers.” – Richard Feynman, 1965 Nobel Prize in Physics winner. [More]
Walmart Is Coming For New York
By 9.21.10
Thought impervious to Walmart colonization, urban centers like New York and San Francisco are the big box retailer’s next expansion targets. [More]
Recession Officially Over. Yipee.
By 9.20.10
The official declarer of such things has announced that the Great Recession is over, and it ended in Jun 2009. So why doesn’t it feel that way? [More]
China To Exceed US Credit Card Use By 2020
By 9.17.10
We don’t need to worry about China getting ahead, Mastercard said today that China is set to surpass the US by 2020 in America’s favorite pastime: using credit cards. It will only be a matter of time after that they implode on a consumer credit bubble, muahaha, exactly as we planned. See, you’re not the only ones that can export poison! [More]
Massachusetts Regulators Rarely Acted Against Subprime Brokers And Lenders
By 9.15.10
An investigative report finds that Massachusetts regulators only acted against 3% of its licensees during the sub-prime peak, the lowest among fellow New England states, while publicly preening that it was being “aggressive.” In fact, as foreclosures rose during ’06-’08, enforcement actually dropped. Forget who watches the watchdogs, who watches? [More]
Wells Fargo Says It Won't Foreclose For 30 Days, Then Does So Within A Week
By 9.10.10
A week after Wells Fargo rejected a couple’s loan mod app and said it wouldn’t start foreclosure proceedings any sooner than 30 days later, a guy showed up on their steps. He said he was with an investment firm that had just bought the house at a real estate auction, and if they would leave within 2 weeks, he would give them $1,500. [More]
Video: Chinese Factory Workers Stuffing Playing Cards At Turbo Speed
By 9.7.10
Every wonder why so much stuff is made in China? This is why. Look at these guys, stuffing playing cards in boxes at a superhuman rate. This video has not been sped up. No wonder China is going to kick our ass. [More]
18 Percent Of People Think Economy Is Just Fine
By 9.6.10
A CNN/Opinion Research Corporation survey finds that 81 percent of respondents say the economy is crap, while 18 percent say it’s “good.” [More]
CEOs Who Fire More Workers Earn More
By 9.2.10
An analysis of executive pay found that CEOs of the 50 firms that laid off the most workers since the beginning of the economic meltdown earned 42% more than the average pay for an S&P 500 company. Correlation doesn’t imply causation, but it’s food for thought, especially for those in the bread line. [More]
Burger King Agrees To Private Investor Buyout
By 9.2.10
Burger King, (financially) depressed after grappling with the economic downturn and constant scrapping with McDonald’s, is going private. The Home of The Whopper loudly sighed today and agreed to an offer by private-investment firm 3G Capital Management for $24 a share. What went wrong? [More]
BofA Pays To Fedex You Multiple Loan Mod Opps You Don't Care About
By 9.1.10
BofA has been Fedexing Eli a loan mod opportunity once every two months for the past eight months. He has no intention of doing a refi, he’s never been late on a payment and likes his 5/1 ARM and low interest late. Wonder how many other homeowners is BofA frittering away their bailout bucks on by FedExing junk mail. Meanwhile, the people who actually want loan mods are stuck in purgatory. [More]
New Trailer For "Inside Job" Financial Crisis Documentary
By 8.31.10
Get ready to slake your thirst for populist rage. Inside Job is a new documentary coming out in October that aims to expose the truth about the true architects of the financial implosion of 2008. You can probably guess from the title whom they’re fingering. Matt Damon is the narrator and it’s released by Sony Pictures Classics. Here’s the trailer: [More]
Blockbuster Filing For Bankruptcy In September
By 8.27.10
Blockbuster told Hollywood studios that it’s planning to file for bankruptcy in mid-September. [More]
Seattle Libraries To Close For A Week To Save Money
By 8.23.10
If you live in Seattle, make sure you don’t plan any library outings between August 30th and September 6th, when all branches will be closed. As it did last year, the library system is shutting down services and not paying employees for a week to cut about $650,000 from its budget. Fortunately, you’ll still be able to access several electronic services that week, including ebook checkout and online databases. [More]
Schools Asking Kids To Bring Basic Cleaning Supplies
By 8.16.10
New items on the back-to-school lists this year include cleaning spray, baby wipes, and cotton balls. It’s not for making a diorama or some kind of cheap puppet. Rather, with budgets slashed all over, schools have had to resort to asking the kids to pick up basic cleaning supplies for the school along with their usual TrapperKeepers and notebooks. [More]
Is It Legal To Eat Your Cat?
By 8.16.10
A man was pulled over last week in Western New York and found to have a live kitty marinating in his trunk. It was sitting in crushed red peppers and chili and salt and he said he intended to cook and eat because it had become “possessive, greedy, and wasteful.” Apparently the guy is new to cat ownership, as this pretty much describes every cat I have (lovingly) owned. Anywhoo, as the recession grows desperate, you yourself may find yourself wondering about the legality of frying up a fluffy four-legged friend. Slate probed case law state by state to find out. [More]
30,000 Storm Atlanta Parking Lot To Get Public Housing Apps
By 8.16.10
The last time public housing rosters were opened up, the city got 2,400 apps. This time, they thought maybe 10,000 would show up. Instead, an estimated 30,000 people descended on an Atlanta parking lot last week so they could pick up an application for public housing. 60 had to be taken to the hospital after fights or just from heat exhaustion. It was 90-100 degrees. And this is just to get on a waiting list. To get an actual voucher can take 8-10 more years. [More]
