Jan 22 Microsoft Cuts 5,000 Jobs As New Unemployment Claims Rise By Admin, PBS News Hour In another sign of how bad the economy is getting for even the biggest companies, Microsoft Corp. announced Thursday that it is cutting 5,000 jobs over the next 18 months. Continue reading
Jan 22 Is There An “Economic Event” That Will Change the Economics Profession? Question/Comment: Dear Mr. Solman, Is there an “economic event”, or re-discovery of economic history that can impact the incredible ideological stranglehold on the economics “profession?” In my opinion we have sacrificed rigorous econometrics on the altar of existence theorems, Diophantine… Continue reading
Jan 21 Watch Banking Sector, Bailout Reform May Top Obama Economic Agenda Treasury nominee Timothy Geithner went before a Senate panel Wednesday, answering questions on the financial crisis as well as his tax payment controversy. Analysts mull what's ahead for Obama's economic agenda. Continue watching
Jan 21 How Do You See Medicare and Social Security Being Changed to Accommodate Future Generations? By Business Desk Question/Comment: What is the future of Social Security and Medicare in the next 20-years and how do you see it being changed to accommodate future generations? Paul Solman: Medicare is a much bigger problem than Social Security. I think Medicare… Continue reading
Jan 19 Watch Auto Industry Shows Small Signs of Recovery at Annual Detroit Show At the annual Detroit auto show, car enthusiasts were not letting the frigid weather or drab economic climate deter them. Fred de Sam Lazaro gives an update from Detroit on the state of the auto industry and its efforts to… Continue watching
Jan 19 Watch Recession Hurts Ranchers Who’ve Seen Price of Stock Plummet The recession is squeezing cattlemen on all sides, with the costs of supplies rising and beef prices down. Tom Bearden reports from the National Western Stock Show on how the plummeting economy is hurting ranchers. Continue watching
Jan 19 Russia, Ukraine Sign Deal to Settle Gas Dispute By PBS News Hour Russia and Ukraine signed Monday a 10-year deal to resume natural gas supplies to Europe after a two-week shutoff due to a dispute over gas prices and the payment of other debts. Continue reading
Jan 16 Dodge Foundation Cancels Poetry Festival The largest poetry festival in North America has just become the latest victim of the financial crisis. The Geraldine R. Dodge Foundation announced Friday in a letter to supporters that it will cancel the next Dodge Poetry Festival. Continue reading
Jan 16 Bank of America Posts Big Losses, Citigroup Splits in Two By PBS News Hour Bank of America posted its first quarterly loss in 17 years and received a boost from the government while Citigroup reported a fourth-quarter loss of $8.29 billion and decided to split up its businesses in a new round of gloomy… Continue reading
Jan 16 Are You Moving in With Friends to Save Money? Question/Comment: I heard Paul Solman say yesterday… wait, you are Paul Solman… that the economy is so bad, lots of people are now moving in with friends to save money. Is this really true? Paul Solman: In the interests of… Continue reading