Fire-sale auctions of mansions, yachts, sports cars and other trappings of wealth have become increasingly common as the rich become less rich. ( Wall Street Journal )
New home building figures have unexpectedly hit a record low , with unemployment and foreclosures deterring builders. ( CNN/Money )
“Green shoots of human compassion abound,” writes Derek Thompson. “So should we all stop worrying and learn to love a world with much less money?” ( The Atlantic )
The unemployment rate for adult men is ahead of the national average at 9.4 percent versus 8.9 percent for all workers. The implications may hamper the recovery as families that once had male breadwinners struggle. ( Reuters )
As the national economy transforms in the wake of the economic crisis, growth and development across the country are moving away from the suburban and exurban fringe and toward center-cities and close-in suburbs. ( The Big Money )
Hollywood ‘s response to the recession? Maintain a fabulous facade on the cheap while paring expenses behind the scenes. ( New York Times )
With home prices having dropped, the majority of those being sold now in the U.S. are considered “affordable.” The most “affordable” city in the nation by this metric is Indianapolis. ( CNN/Money )
When restaurant chains are floundering, what accounts for the sizzle in P.F. Chang’s wok? The company has avoided wholesale restructuring and panicky discounting. ( Slate )
The era of operating easily on borrowed money is over, at least for now, for businesses as well as consumers. That in turn is changing the way companies operate. ( New York Times )
“Only the optimists survive” would be an appropriate motto for leaders in today’s and tomorrow’s business climate, writes Waren Bennis. ( BusinessWeek )
