The audacity of hopelessness
15.02.09
So much for change you can believe in.
Constant news of layoffs, pay cuts, and stock declines has all of us tightening our belts: A recent Money poll found that in light of the financial crisis, 89% of us are changing the way we manage our finances, and 88% plan to be more frugal. The final topline price of the economic recovery package: $787 billion. That's below both the $820 billion House-passed version and the $838 billion Senate-passed version.
After initially vowing to unveil a new financial rescue package this coming week, senior officials in President Obama's administration now say the rollout date is being pushed back an extra week.
As the author of such business classics as "Built to Last" and "Good to Great," management guru Jim Collins has made a career out of understanding why companies succeed. Yet for the past several years he's been deep at work with partner Morten Hansen on how companies manage to negotiate through turbulent times. It was a prescient choice, deeply relevant to today's environment, and a likely topic of a future book. Collins recently sat down with Fortune senior writer Jennifer Reingold to share some of what he's learned to far. Excerpts: It wasn't that long ago that many economists worried that Americans were saving too little.
Congress will soon debate what kind of economic stimulus package should be passed, but some economists are increasingly wondering whether it's a good idea to approve any stimulus at all.
President Obama pressed Wall Street bankers at the White House on Monday, urging them to make more loans and modify mortgages to help taxpayers who propped their banks up with federal bailouts.
The Supreme Court again Monday turned away the latest challenge to Chrysler's bankruptcy and sale to Italian automaker Fiat. Just days before Chrysler LLC is supposed to show the government it can become a healthy company, the automaker has been scrambling to get dealers to order more cars.
With auto sales at crisis levels, Washington is trying to figure out how to get Americans buying cars again.
Home price declines have sent affordability soaring. Prices have fallen so far that the average U.S. home is now undervalued by 12.2%, according to a new report from IHS Global Insight.
Mortgage rates fell during the past week, pushed lower from the uncertainty stemming from the bank bailout plan unveiled Tuesday.
Still lucky enough to have a job? You're likely doing the work of two or three people, working longer hours and not getting any extra pay. Read full story for latest details.
There's retirement living, and then there's living it up in retirement. The latter is part of the draw of one of the fastest-growing retirement options - the continuing-care retirement community. These CCRCs, as they're called, often look a lot more like four-star resorts than old folks' homes.
Playing the China boom
15.12.09
It happens every weekday: A group of ladies gathers at the cavernous, badly lit stock-brokerage office on Shanghai's Xiangyang Lu in what was once, when China was colonized by European powers last century, known as the French Concession. There are usually at least four, and sometimes as many as eight.
With ads off the air, Tiger takes leave from golf
15.12.09
Tiger Woods is all over the TV, but his ads haven't been.
Get your 401(k) above pre-crash levels
15.12.09
With stocks up more than 60% since hitting bottom last March, the red ink is finally fading on the typical 401(k) account.
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Want to create jobs? Import entrepreneurs
15.12.09
A five-foot robot sits in Jon Wheatley's chair during most U.S. investor presentations, listening, speaking, and watching the meeting as Wheatley maneuvers it from a laptop in London. The shtick draws attention to Wheatley and his company, social media Web site DailyBooth.com, but the robot (provided by one of his investors) serves a purpose: Wheatley cannot set foot in the United States.
High court rejects challenge to Chrysler's sale
15.12.09
The Supreme Court again Monday turned away the latest challenge to Chrysler's bankruptcy and sale to Italian automaker Fiat.
Housing outlook for 2010
15.12.09
In a dour year for the economy, the housing market has offered some glimmers of hope. Home sales have improved, recently hitting their highest level in more than two years. There's been talk of bidding wars resuming in places like Silicon Valley and New York City. And cocktail party chatter everywhere has started to turn to talk of a bottom. So at least where housing's concerned, things are looking not so bad -- right?
Chrysler, GM dealers ready to fight for resurrection
15.12.09
As Chrysler and General Motors get ready to sit down and talk with owners of some of the nearly 2,000 dealerships given death sentences, dealers are rolling up their sleeves and preparing to fight for their businesses' lives.
Exxon to buy XTO in $41 billion deal
15.12.09
Exxon Mobil said Monday it will buy natural gas producer XTO Energy Inc. for $41 billion in a stock and debt transaction.
Turn on the home-equity tap again
15.12.09
The home-equity line of credit fueled thousands of extreme kitchen makeovers during the real estate boom. But the housing bust and the credit crisis stopped the HELOC party with a vengeance: Tens of thousands of homeowners had their lines cut or frozen, and most lenders stopped issuing new ones altogether.