Recession Briefing 7.31

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July 31 2009 10:19 AM

Recession Briefing 7.31

"People just aren’t having [you know what] in the office any more," a Wall Street HR person said. "It’s like the crash dampened their hormones." ( Business Insider )

New-car shoppers appear to have already snapped up all the $1 billion that Congress appropriated for the "cash for clunkers" program , leading the Transportation Department to tell auto dealers Thursday night to stop offering the rebates. ( New York Times )

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Millions of Americans are making dramatic career turnabouts in the recession as some industries shed jobs which analysts say likely won’t return for years, if ever.  ( USA Today )

Much of the $787 billion in a federal program to spur the economy was supposed to pour onto American roads, bridges, and construction sites. So far, though, the amount of money funneling into US construction zones is less than expected. ( Christian Science Monitor )

Dan Barry tells the story of Camp Runamuck, a tent city in Providence, R.I., under an overpass stretch of Route 195 that is scheduled for demolition. ( New York Times )

Because of the housing bust, a New Jersey firefighter and his wife are the only residents in a massive 32-floor condo building in Ft. Myers, Fla. ( The News-Press )

The recession inflicted even more damage on the economy last year than the government had previously thought. ( Associated Press )

Las Vegas is the worst hit city in the U.S. in terms of foreclosed properties with one in 13 housing units in foreclosure. ( Huffington Post )

The pace of economic decline slowed substantially in the second quarter, as the U.S. economy shrank at an annual rate of 1% - far less than it did in the first quarter , according to a government report released Friday. ( CNN/Money )

The solar business is basking in new Recovery Act incentives. ( The Big Money )

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