BuzzFeed
economic downturn
-
Link: Going to Extremes as the Downturn Wears On
http://www.nytimes.com/2010/08/07/us/07cutbacksWEB.html?p...
![[link]](http://s3-ak.buzzfed.com/static/images/public/icons/external-link2.png)
Strained for funds, governments have made cuts in core services like education, transportation and public safety.
-
Link: In Ireland, a Picture of the Cost of Austerity
http://www.nytimes.com/2010/06/29/business/global/29auste...
In Ireland, which adopted austerity measures two years ago that other European countries are now looking to pursue, the economic downturn has only grown worse.
-
Link: Official: Obama wants shareholder say on exec pay
http://us.rd.yahoo.com/dailynews/rss/mostemailed/*http://...
AP - An administration official says President Barack Obama will ask Congress to give shareholders a nonbinding voice in how much corporate executives are paid. It's an effort to link compensation to long-term performance rather than short-term gains.
-
Kappa Beta Phi
Business Buzz Wall Street actually has a fraternity (a real one, not just a bunch of offices where bankers act like frat guys). They like to get together in rooms and sing pop songs with rewritten lyrics. This year, it was “Bye, Bye to My Piece of the Pie” (American Pie), which at least reflects some sort of self-awareness, if not propriety or wit.
-
Fixing the Economy with Ayn Rand
Business Buzz The polarizing philosopher and dating-site-sponsor has all the solutions to your economic woes. Or she is to blame! It depends on whether you believe in Free Trade with a capital FT, courtesy of Alan Greenspan. You could also believe that she is responsible for inflating the egos of all the day traders who got us into this mess, but that's not really a solution. So let's go with Option A.
-
Unemployment Rate Hits 16-Year High
Business Buzz Breaking on Friday morning: December's unemployment rate was announced at 7.2%, a 16-year high. Here are some alerts from top news sources.
-
George Bailey, Subprime Lender
Business Buzz Portfolio continues the It's A Wonderful Life backlash with a piece asking whether George Bailey is an undisciplined subprime lender. Their answer: pretty much. Jesus Christ, next it's going to be someone telling me that angels don't really get wings when bells ring. Merry F*cking Christmas, everyone.
-
Image: Mortgage Bonus Breakdown
The NYT examines the role that bonuses played in the financial breakdown. This chart compares the bonuses in the fixed-income division of Merrill Lynch to its profits as a whole. Summary: it pays to totally fuck up the financial system.
-
Cancelling Fashion Week
Style Buzz Designers are starting to cancel their February Fashion Week shows in Bryant Park, citing the economy and “sensitivity.” Vera Weng, Betsey Johnson, and Carmen Marc Valvo are leading the charge, but more designers are likely to follow suit (ha!). This is a bummer for fashion-y people, hotels, restaurants, and New York City, but mostly for celebrities like Leigh Lezark who will have to find a new way to pay February's rent.
-
Image: The Bailout (Ad)
The newest offering from the Big Three: The all-new, 2009 Bailout. At just $25 billion, it's automatically next year's bestseller.
-
Sugar Daddy Downturn
Business Buzz Yet another victim of our tattered economy: the kept woman. Men about town are less willing to spend money on bottle service and pricey jewelry for their companions, and a whopping 82% of men surveyed plan to reduce payments to their mistresses (though there must be a Bradley effect in that poll). All in all, not a good time to be a woman of leisure.
-
People Who Are Actually Getting Bonuses This Year
Business Buzz In these bitter times of dismal financial times and curbed spending, there are few employers who are actually giving bonuses this year. Remember the days when you'd complain that you only got a $15 Virgin Megastore giftcard from your employer for Christmas? Well, this year, you're not even getting that.
