There was more evidence Friday the recession is getting worse, a fact that President Obama and his economic team continued to confront. Columnists Mark Shields and David Brooks mull Mr. Obama’s approach. Continue reading
Starbucks announced Wednesday the closure of 600 stores and plans for staff cutbacks after a drop in sales. Lee Hochberg reports on the economic shifts behind the company’s losses and how the coffee giant plans to recover.
After announcing record annual losses Tuesday, General Motors said that it would offer buyouts for all 74,000 of its union employees — allowing GM to hire lower-wage workers — to help reduce costs. New York Times business reporter Micheline Maynard offers perspective on the auto industry’s financial struggles. Continue reading