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recession-watch
recession-watch
(Kdt.)
Help! My Employer Folded And Now I Can't Get A W-2
By Chris Morran on February 9, 2012 1:00 PM
63 Comments
As you might have noticed, a number of companies have shut their doors over the last few years. Making matters worse for the former employees of some of those businesses is that they still have to file their tax returns — but no one wants to give them a W-2. More »
California City Thinking Of Closing Wells Fargo Account Over Foreclosure Debacle
By Chris Morran on February 2, 2012 11:30 AM
42 Comments
It's not just individuals and small businesses that are peeved about the way big banks have mishandled the massive amount of foreclosures during the last half-decade. The city government of Berkeley, CA, is looking to pull several hundred million dollars out of its Wells Fargo accounts and plunk the pile down at a more consumer-friendly financial institution. More »
Feds Announce Program To Turn Foreclosures Into Rentals
By Chris Morran on February 1, 2012 10:50 AM
57 Comments
In an effort to put living, paying bodies into homes left vacant following foreclosure, the Federal Housing Finance Agency has announced the beginnings of a program to sell off pools of foreclosed properties to investors who would then rent them out. More »
(8one6)
American Workers Growing More Flexible About Temp Work, Changing Careers
By Chris Morran on January 27, 2012 2:45 PM
79 Comments
With about a half-decade of a blah economy and weak employment, Americans are growing more amenable to taking temporary employment, changing their viewpoint from the glass-half-empty opinion of "it's a job without permanence" to "it's a job that may lead to something permanent one day." More »
Unemployment Dropped In Most States In December, But Will It Last?
By Chris Morran on January 24, 2012 12:30 PM
19 Comments
For everyone who so over these economic doldrums, the latest Labor Department jobs data for December 2011 may prove to be a bit of a belated holiday gift. Let's just hope that gift doesn't end up being returned in a couple months. More »
Auto Lenders Approving Car Buyers Who Can't Pay Their Mortgages
By Chris Morran on January 5, 2012 1:15 PM
39 Comments
Usually, one of the main factors a lender uses to determine whether or not to let an applicant borrow money is the applicant's history of paying back (or failing to pay back) other loans. But with so many Americans having skipped mortgage payments in recent years, auto lenders are apparently no long slamming the door on potential borrowers just because they weren't able to keep current on their house payments. More »
(Ninja M.)
Survey: 40% Of U.S. Drivers Putting Off Vehicle Repair & Maintenance
By Chris Morran on December 20, 2011 11:15 AM
79 Comments
When you're driving around in a vehicle that needs repairs, there's a possibility that you're putting yourself and others at risk. But with many people still strapped for cash, car troubles often take a back seat to pinching pennies, according to the results of a new survey by our polling pals at Consumer Reports. More »
Every Monday Is Cyber Monday This Holiday Season
By Chris Morran on December 14, 2011 2:30 PM
16 Comments
According to the ancient tradition, the Monday immediately following Thanksgiving has been known as Cyber Monday, that day when we all pretend to be working but are really sifting through countless websites looking for bargains. But that long-held tradition is now being repeated every first day of the work week this holiday season. More »
San Francisco Becomes First U.S. City To Cross $10 Minimum Wage Line
By Chris Morran on December 12, 2011 2:30 PM
171 Comments
When the calendar flips over to 2012, minimum wage workers in San Francisco will be making a bit more, as the city becomes the first local in the U.S. with a bottom-line pay rate of more than $10/hour. More »
Chase CEO Wants Everyone To Lay Off On Hating Rich People
By Chris Morran on December 7, 2011 3:34 PM
206 Comments
In case you've been asleep for the last few months, there are more than a handful of people out there who aren't too happy about the fact that executives at bailed-out banks are reaping huge salaries while none of them have been called to account for the actions that required them to be bailed out in the first place. But thank heavens that one ultra-wealthy CEO is willing to stand up for his fellow bullied bankers. More »
American Shoppers Are Back To Using Their Credit Cards
By Chris Morran on December 5, 2011 12:30 PM
28 Comments
When the economy jumped head-first into a drained pool in 2008, many American shoppers turned away from using their credit cards to make purchases, instead opting to use debit cards and cash. But during the last six months, the numbers show that we've returned to pressing the "credit" button at the checkout line. More »
Survey: Recession Has Made Us Smarter, More Efficient Shoppers
By Chris Morran on November 16, 2011 1:30 PM
32 Comments
If you're looking for an upside to the last few years of economic doldrums, here's some news for you. The results of a new survey demonstrate that Americans have become more focused, efficient and less impulsive when it comes time to do their shopping. More »
Ohio Barber Willing To Negotiate On Price Of Haircut
By Chris Morran on November 15, 2011 1:30 PM
65 Comments
The owner of the Old School Barber Shop in Canton, OH, knows that times are tough. In fact, there's a sign out front of the building that says as much. That sign also lets customers know that the $12 price for a haircut is negotiable. More »
Fed Report Gives 50/50 Chance To New Recession In Early 2012
By Chris Morran on November 14, 2011 2:15 PM
39 Comments
As the U.S. economy continues to try to climb out of the sinkhole left by the 2008 bank meltdown, looming disasters in Europe and Japan could end up plunging us back into a recession in the coming months, warns a new report from the San Francisco Federal Reserve Bank. More »
Does A Bad Credit Score Mean You'll Be Bad At Your Job?
By Chris Morran on November 10, 2011 3:30 PM
160 Comments
A growing number of employers are running credit checks on potential hires before making a job offer. Unfortunately, there are a large number of people out there whose credit reports are still marred by the recent and ongoing economic troubles. So does it make sense to consider an applicant's credit history? More »
New Wave Of Mortgage Defaults On Horizon
By Ben Popken on November 9, 2011 11:00 AM
80 Comments
Some of the crappiest mortgages ever made were issued in 2006, and right now those 5-year introductory teaser periods are expiring. That's leading to a 300% increase in monthly payments for already strapped borrowers, and it's what's driving the first increase in delinquent mortgages since 2009, a banking expert tells Credit.com. More »
Report: Foreclosure Review Process Puts The Burden On The Borrower
By Chris Morran on November 4, 2011 12:15 PM
53 Comments
As we reported earlier this week, upwards of 4.5 million foreclosed-upon homeowners are now eligible to have their case reviewed by an independent consultant. But as details of this review process trickle out, some are concerned that the scales might be unfairly balanced in favor of the lender. More »
Filene's Basement Stores To Close Doors Forever
By Chris Morran on November 2, 2011 11:15 AM
37 Comments
More than 100 years after opening underneath a Boston department store, it's the end of the road for discount clothing store Filene's Basement, which filed for bankruptcy this morning along with parent company Syms. More »
Drone Helicopters Used To Sell High End Real Estate
By Ben Popken on November 1, 2011 2:00 PM
35 Comments
Helicopter drones looking for work outside the military might look well to apply at their local real estate office for a job. Turns out they're not just good for conducting unmanned aerial strikes against insurgents, drones can also be used to sell mansions, via in-depth tour videos made with cameras mounted to their frames. More »
(stirwise)
Rules Changed To Make Refinancing Your Home Easier
By Chris Morran on October 24, 2011 3:15 PM
52 Comments
With mortgage interest rates continuing to hover near record lows, the Federal Housing Finance Agency has announced big changes to the Home Affordable Refinance Program with the intention of making it easier for homeowners to save money by refinancing their loans at these rock-bottom rates. More »
