NORTHLAND'S FAVORITE HITS » recession

McDonalds Profits Falter For The First Time Since 2003

Steve Tanko — Wed, 08 Aug 2012 21:58:39 +0000

They made it through the recession seemingly unscathed. During the most-recent economic downtown, McDonalds enjoyed plenty of black ink while their rivals saw red. Now it seems that the tables might be turning. McDonald’s Corp. says a key revenue figure came in flat in July, its worst showing in more than nine years, as diners [...]

Is This How We Move Forward? Unemployment Numbers Jump Again

Steve Tanko — Fri, 01 Jun 2012 21:21:15 +0000

8.2%. That’s the newest unemployment number; Up – again – from last quarter. At the same time, GDP growth also slowed – from 3% to 1.9% – signs that our economy if far from being in a good spot. Financial observers note that any reported growth to employment has come from people actually giving up [...]

Beware: Fiscal Cliff Looms For U.S. Market

Steve Tanko — Thu, 19 Apr 2012 17:25:41 +0000

As a country, we’ve done nothing to manage our debt the last couple of years. In fact – we’ve added to it at a record rate. Wall Street-”dooms-dayers” foretell of a fiscal cliff that the market is headed for. The U.S. economic outlook for next year is being shadowed by what economists are calling the [...]

More Than What's On The Surface As Obama Seeks New Powers

Steve Tanko — Fri, 13 Jan 2012 17:56:55 +0000

At first glance, Barrack Obama appears to be “making government work better” with his call for a change in his Presidential powers. You could call it “answering the electorate’s call for government efficiency”. Mr. Obama will call on Congress to give him a so-called consolidation authority allowing him to propose mergers that promise to save [...]

Jobless Claims Rise With The End Of The Holiday Season

Steve Tanko — Thu, 12 Jan 2012 20:51:03 +0000

So much for those “improving” unemployment numbers. Last quarter, the Obama administration trumpeted the statistical fact that jobless claims had leveled off and actually dropped – even as analysts pointed out that this was due to the holiday/seasonal hiring season. Guess what? Now that the holidays are done, jobless claims have jumped back up. The [...]

Recession? What Recession? Americans Say 'We're Doing Better Than Our Folks' — Survey of the Day

Jeremy Taylor — Wed, 28 Dec 2011 19:44:19 +0000

While the county has been going through an extended period of economic decline and uncertainty, a solid majority of Americans still think that they are ahead of where their parents were financially. According to new a Gallup poll of 1,012 adults, 69 percent believe they are better off financially than their parents were when they [...]

Restaurant Slump May Signal Economic Slowdown

Steve Tanko — Tue, 20 Dec 2011 21:45:39 +0000

Economists theorize that we’ve been out of the recession since June 2009. The recovery has been a slow one at best. If the recent news from the restaurant world is any signal, we might be in for an even slower recovery. Restaurant stocks are underperforming the U.S. market, a signal that shares of retail companies [...]

U.S. Household Income Drops Dramatically Over The Last Two Years

Steve Tanko — Mon, 10 Oct 2011 19:29:29 +0000

In what appears to be the largest drop in decades, U.S. household income paced negatively the last two years.

During the recession, which economists say lasted from Dec. 2007 to June 2009, the median annual household income fell by 3.2 percent, from $55,309 to $53,518, according to a report authored by two former U.S. Census Bureau officials. But in the post-recession period from June 2009 to June 2011, the figure fell by 6.7 percent, from $53,518 in June 2009 to $49,909 in June 2011.

Kodak Preps For Bankruptcy

Steve Tanko — Fri, 30 Sep 2011 20:12:17 +0000

Historically, changing technology has left many innovative companies in the dark as progress marches on; It appears that this fate might be waiting for the Kodak film company.
Eastman Kodak (EK) has hired law firm Jones Day for restructuring advice as it faces growing concerns from investors over its turnaround prospects, The Wall Street Journal reported this afternoon

Contrary To White House Reports – U.S. Economy Continues To Shed Jobs

Steve Tanko — Fri, 22 Jul 2011 19:09:46 +0000

Is the U.S. economy roaring to a recovery….or racing to recession? In the past week, Cisco, Lockheed Martin and Borders announced a combined 23,000 in job cuts. Those announcements follow 41,432 in planned cuts in June, up 11.6% from May and 5.3% vs. a year earlier, according to Challenger, Gray & Christmas. Meanwhile, state and [...]

Poll: 44% of Americans Worse Off Under Obama

Rayman — Wed, 22 Jun 2011 16:51:20 +0000

I'm not sure it's accurate to say we're worse off than we were two years ago. It is frustrating we can't see the light at the end of the tunnel though.

Two years after the official start of the recovery, the American people remain pessimistic about their current economic circumstances and longer-term prospects.
via Pol