We hear stories all the time about people who are having trouble paying their mortgage, call the bank for help, and are then told there’s nothing the bank can do unless they stop paying their mortgage. Well, one couple is suing Chase after they followed that advice, and then got foreclosed on. [More]
recession watch
Home Depot Adding New Jobs For First Time Since 2006
By 4.7.10
Looking for a job? Then this might be a bit of good news — Home Depot is so hopeful about the economic rebound that they’re adding new in-store positions for the first time in four years. [More]
Office Vacancies Hit Highest Rate Since 1994
By 4.5.10
Someone should tell those cats that have been taking over abandoned homes that there are also plenty of empty offices waiting for them to frolick in — A new report says that there office vacancies in the first quarter of 2010 reached its highest level since Kurt Cobain was still alive. [More]
AIG Chief Believes They'll Pay Back Bailout Billions Before Deadline
By 4.4.10
$182.3 billion is a hefty tab to pay off, but the CEO of AIG says he feels “pretty comfortable” that his company will be able to get that all back to the government between now and the Sept. 2013 deadline. [More]
Job Cuts Continue, Despite Expected Gains
By 3.31.10
Once again, the private sector continued to shed jobs this month. But in an attempt to look on the not-so-bleak side of things, it was the smallest monthly decline in over two years. [More]
Um, So What's Going To Happen When The Home Buying Tax Credit Expires?
By 3.30.10
Here’s a question nobody knows the answer to: What’s going to happen when the (already extended) Homebuying Tax Credit expires April 30th? [More]
ConEd To Raise Electric Rates 12.6% Over 3 Years
By 3.26.10
As the slumbering economy forces more people to think of ways to save money, the basic costs of living continue to increase. Case in point: Con Edison is set to jack up rates for electricity to millions of customers in the New York City metro area. [More]
Google Data Explorer Makes Pretty Charts From Depressing Numbers
By 3.26.10
Google Labs recently unveiled its latest toy, the Public Data Explorer. The tool adds visualization features to Google’s public data search engine, letting you make charts and graphs like this one, which overlays unemployment stats from the Bureau of Labor Statistics on a U.S. map. Colorful and cheery, right? All those lovely pale green circles (10% umemployment), flashes of orange (13%) and the occasional outburst of red (15%). Who knew that modeling depressing data could be so much fun! [More]
Movie Ticket Prices Going Up This Weekend
By 3.25.10
Hope you weren’t planning on buying popcorn at the movies this weekend, because you might not have any cash left after you pay for your higher-priced tickets. [More]
Saks Closing Two Oregon Stores, Maybe More To Come
By 3.23.10
Fans of high-end retail shopping may be in for some sadness. The CEO of Saks & Company says they are definitely closing two Saks Fifth Avenue stores in Portland, OR, and that other underperforming stores may soon be on the chopping block. [More]
As The Economy Improves, Shoppers Ditch Walmart
By 3.22.10
The NY Post says that they’ve found a correlation between economic growth and same store sales at Walmart. Their theory is that as the economy improves, people run away from the big blue box. [More]
You're Not Ready To Resume Your Spendthrift Ways
By 3.22.10
We keep hearing that the recession is over, but every new consumer survey seems to confirm one thing: With unemployment rates high and home values low, most consumers aren’t exactly in a rush to open their wallets again. And according to one new survey, many of you are even embarrassed about the way you used to spend, comparing those days to “some of the crazy things you did in high school or college.” [More]
Former AIG Folk Threaten Lawsuit Over Delayed Bonuses
By 3.16.10
In a move designed to make sure their neighbors throw extra eggs at their houses, a handful of former AIG employees are threatening to sue because they haven’t received bonuses as quickly as they had expected. [More]
Foreclosures Slow Down An Itsy Little Teensy Bit, But Not For Everyone
By 3.11.10
Once again looking for anything even vaguely resembling a silver lining in these craptastic economic times, a new report shows that, while foreclosures did increase overall in February, they only increased a little bit… relatively speaking. [More]
Homeless Guy Lives On Rewards Points From His Former Life
By 3.10.10
Sudden unemployment can really help you think creatively. The OC Register has a profile of a guy who lost his condo after being laid off from his 6-figure corporate development job — and is now living out of his leased BMW and a storage unit — and using his rewards points to survive. [More]
Citi Demands You Pay $0 Or They Will Foreclose On Your House
By 3.10.10
In these tough times, homeowners with difficulties paying their mortgage dread receiving that letter from the bank informing them that their loan is in default. Except for Consumerist reader Ryan, who recently got some certified mail from CitiMortgages telling him his home was at risk of foreclosure, unless he immediately forked over $0.00 [More]
Number Of Millionaires In U.S. Bounced Back In 2009
By 3.9.10
If you’re looking for any sort of sign that the economy might not be as ill-fated as it occasionally appears, here’s something for you. A new study shows that, while the job market may be flat, the number of millionaires in the U.S. is on the rise, with the number of households worth at least $1 million up 16% from last year. [More]
New Survey Shows Layoffs Flattening Out, A Few New Jobs To Come
By 3.9.10
The latest survey on employers’ hiring patterns is a good news/bad news affair. On the up side, business owners don’t really plan on laying more people off in the next few months. On the down side, they also don’t expect to be hiring all that many people. [More]
