../../../..//2008/12/03/harvard-universitys-endowment-the-largest/
Harvard University’s endowment, the largest of any university, has lost 22% of its value in the past year — or approximately $8 billion. Ouch. [MarketWatch]
recession watch
Panic: Are Consumers Scared To Buy Gift Cards?
By 12.1.08
Earlier this year when the Sharper Image declared bankruptcy, they briefly stopped accepting gift certificates. Eventually, they did start accepting them again — but with the requirement that consumers buy twice the face value of the card. This, it seems, has caused a fair amount of panic among consumers. Chain emails are circulating warning shoppers not to buy gift cards from various retailers — claiming that they are going out of business. But are they?
By 11.25.08
../../../..//2008/11/25/look-at-it-this-way/
Look at it this way, yes, housing prices are down by record amounts… but maybe you can get yourself a Black Friday deal on a house?
The Crappy Economy Means You'd Better Learn To Love Canned Soup
By 11.24.08
You know who is making money despite the total eclipse of your 401k? Campbell Soup Company. That’s right. When you’re broke — you eat soup. But which soup should you eat?
Welcome To The Island Of Misfit Luxury Imports…
By 11.20.08
If you’re looking for a photograph to illustrate how our economy has changed over the past few months, take a look at this. No, that’s not a parking lot in a town where everyone has the same taste. It’s the Port of Long Beach, where “thousands of cars worth tens of millions of dollars are being warehoused,” unwanted by the dealers who used to sell them. They’re imports — Mercedes-Benz, Toyota, and Nissan orphans.
Why Doesn't Costco Accept Food Stamps?
By 11.19.08
The New York Times City Room blog asks an interesting question. Why doesn’t Costco accept food stamps? Even farmers markets accept them! What’s the deal, Costco?
Recession Watch: Walmart Up, Target Down
By 11.7.08
Walmart is winning the big box retail war it seems. They reported same-store October sales were up 2.4 percent versus October 2007. Target, however, lagged behind, with same store sales dropping 4.8%.
McDonald's: Want Water? You Will Pay For It.
By 10.31.08
Free cups of water at McDonald’s are the next victim of the recession it seems. Reader Michael sent us this photo of a sign at McDonald’s that proclaims the end to the free cup of water era. He says the cashier told him it was a “business decision.”
Recession Watch: McDonald's Cracks Down On Sauce Scofflaws
By 10.24.08
McDonald’s has had enough of your sauce-hogging ways. You will get a certain number of packets of sauce with your order, and if you want more you’re just going to have to pay up, damn it.
Nobody Gave A Crap About The FDIC Until Fairly Recently
By 9.17.08
Spend a little time looking at Google trends and you’ll notice that no one really gave a crap about the FDIC until fairly recently.
Bush Administration Considering A Takeover Of Freddie And Fanny
By 7.11.08
Freddie and Fanny lost about half of their value overnight as investors became more certain that the government was going to have to bail out the two GSEs (Government Sponsored Enterprises.) The New York Times says that senior members of the Bush administration are considering a takeover of Freddie and Fannie that would leave their shares “worth little or nothing,” and where taxpayers would pay “any losses on mortgages they own or guarantee.”
Oil! Airlines Issue Open Letter Asking You To Help Them Lobby Congress
By 7.10.08
In a letter signed by 12 CEOs, the US air travel industry has called upon you, their customers, to help them lobby congress. What’s the problem that they need help solving? Oil speculation. Read the letter inside.
Mortgages Of The Apocalypse: Are Freddie And Fannie Going To Collapse?
By 7.10.08
Freddie Mac and Fannie Mae, the “government sponsored” enterprises that are supposed to bail us out of the current mortgage crisis, may be in danger of collapsing, according to William Poole, the former president of the St. Louis Federal Reserve, who told Bloomberg the companies are already “insolvent.”
Broke Consumers Turn To Deep Discount Stores Like Aldi
By 7.9.08
You may be broke, but Aldi isn’t! As consumers cut back, more of them are shopping at deep discount stores like Aldi. The German-owned grocer usually doesn’t advertise, but the economic slowdown is helping business, and Aldi is investing in a few commercials.
New Houses Are Now "Buy One Get One Free" In San Diego
By 6.3.08
Michael Crews Development has a proposition for you. If you buy one of his $1.6 million-and-up, 2-acre estate homes in the San Pasqual Valley, he’ll toss in a four-bedroom row home for free!
Bush On The Recession: "The Average Person Doesn't Really Care What We Call It"
By 4.29.08
“I repeatedly submitted proposal to help address the problems. Time after time, Congress chose to block them,” he said.
1 in 33 Homeowners Predicted To Be In Foreclosure Within Next 2 Years
By 4.17.08
For those of you hoping that foreclosure crises has hit bottom, we’ve got some bad news. A new report released by the The Pew Charitable Trusts says that 1 in 33 homeowners is expected to be in foreclosure over the next two years, due primarily to subprime mortgages made in 2005 and 2006.
By 4.17.08
../../../..//2008/04/17/american-airlines-lost-a-bunch/
American Airlines lost a bunch of money this quarter. Ruh-roh. [NYT]
