Oct 02 More Grim News in the Sept. Jobs Numbers Paul Solman: Today’s unemployment data are grim. I began to write “startlingly grim” but then realized that, for those of us on-the-record pessimists with regard to green shoots and recovery, the numbers aren’t startling at all. Having been on the… Continue reading
Oct 02 Unemployment Hits 9.8%, Job Losses Accelerate By Maureen Hoch September was a rough month for the economy, with the unemployment rate rising from 9.7 percent to 9.8 percent as employers cut more jobs than expected, and more unemployed workers gave up searching for jobs. Continue reading
Oct 02 Watch Job Losses Rise, Dampening Hopes for a Quick Recovery Employers shed 263,000 jobs in September, more than analysts expected, bringing the jobless rate to 9.8 percent. Economics columnist David Leonhardt and labor expert Jacob Kirkegaard look at the numbers. Continue watching
Oct 01 Portrait of B of A's Ken Lewis, Soon to Be Retired Editor’s note: You may remember artist Geoffrey Raymond from our Lehman Brothers story last month. Raymond was painting portraits of the wizards of Wall Street even before the market went into a tailspin. After the crash, he started… Continue reading
Oct 01 Watch News Wrap: Markets Drop on Mix of Weak Reports In other news, markets fell on a rise in claims for unemployment benefits and drops in auto sales and factory activity, and a key Senate committee neared the end of its work on health care reform. Continue watching
Oct 01 Few Profits, Many Cost Overruns Expected for Olympic Hosts As the International Olympic Committee prepares to anoint a host for the 2016 Olympic Summer Games Friday in Copenhagen, cities vying for the honor are unlikely to receive much of a direct economic boost as host. Continue reading
Oct 01 Bernanke Calls for 'Council of Regulators' By Carolyn O'Hara Testifying before lawmakers Thursday, Ben Bernanke reiterated a call for the Fed to be given supervisory powers over institutions that pose a systemic risk to the financial system, and proposed that a council of regulators help monitor risk. Continue reading
Sep 30 Paul's Full Interview with Pres. Lula da Silva By Business Desk Editor’s note: We were only able to air sections of Paul’s wide-ranging interview with Brazilian President Lula da Silva at the G-20 late last week. In the interest of letting viewers see Lula’s complete takes on global warming, the situation… Continue reading
Sep 29 Jeffrey Sachs on the New World Economic Order By Business Desk Paul Solman: When in Pittsburgh last week for the G-20 meetings, we interviewed Columbia University economist Jeffrey Sachs, 23 years after our first interview with him. In all these years, Sachs has been a champion of both the verities… Continue reading
Sep 28 Back Home From Pittsburgh (and the G-20) Paul Solman: Meetings like the G-20 can be astonishingly ungratifying to cover. Top officials are, for the most part, intent on talking to one another and impossible to buttonhole. Legions of subalterns try to protect their bosses (and bosses’ bosses,… Continue reading