Laid off from a $100,000 job Chrissanda Walker is part of the 14.3% increase in poverty seen last year.
(Businessweek) — The recovery that began in the middle of last year hasn’t reached small businesses yet. While corporate profits approach pre-recession levels, income at small private companies is recovering much more slowly, according to data from the Bureau of Economic Analysis. Proprietors’ income—the profits of unincorporated businesses such as partnerships or individuals who work […]
(LA Times) — Be it a bushel of wheat from Kansas, a ton of rice from India or a barrel of crude from Saudi Arabia, prices for all manner of commodities are on the rise across the globe, a trend that is starting to pinch American consumers. On Tuesday prices of many raw materials continued to surge, […]
CNN explores role of black churches.
(WSJ) — The economic-stimulus package has meant big business for Washington, D.C., and federal contractors around the capital’s Beltway. More than $3.7 billion of stimulus contracts, grants and loans have gone to recipients in the District of Columbia and two adjacent congressional districts—Maryland’s 8th District and Virginia’s 8th District. That amounts to nearly $2,000 for […]
(Chicago Sun Times) — United Airways ground crew worker Anthony Sepe took a 30 percent pay cut, saw his home in Lombard lose as much as $85,000 in value, and watched in horror as his retirement savings “took a beating.” But among the millions of middle-class Chicago area residents who’ve lost out in the recession, […]
(Atlanta Journal-Constitution) — Just before Bruce Gallman and Jerry Miller opened their $33 million-plus Castleberry Point project near downtown Atlanta in the fall of 2008, they thought they had 70 percent of the units sold. Then the economy hit the skids. Nearly two years later, they consider themselves lucky to have sold 60 percent of the […]