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Recession

WNYC News

Financial 411: Is the Recession Really Over?

Monday, September 20, 2010

The recent recession, which began in December 2007 officially ended in June 2009, making it the longest recession since World War II.

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Features

New York City Opera Chair is Stepping Down

Friday, September 17, 2010

Susan Baker, the chairwoman of New York City Opera who presided over a turbulent period that included the ill-fated hiring of Gerard Mortier as general manager, will step down in December, the company announced Thursday. Baker, who is 59, has been chairwoman since 2003. Charles R. Wall, a former tobacco company lawyer who served on City Opera's board of directors from 2001 to 2008, will succeed her as chairman.

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The Brian Lehrer Show

Why the Economy Crashed

Monday, September 13, 2010

Phil Angelides, Financial Crisis Inquiry Commission chairman, talks about the testimonies the commission is gathering from experts, culprits, and the victims of the economic meltdown.

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The Leonard Lopate Show

This Time Is Different

Friday, September 10, 2010

Kenneth Rogoff, a Thomas D. Cabot Professor of Public Policy and professor of economics at Harvard University, looks at the current recession in context of centuries of financial meltdowns. This Time Is Different: Eight Centuries of Financial Folly, written with Carmen Reinhart, shows that throughout history, rich and poor countries alike have been lending, borrowing, crashing—and recovering—their way through an extraordinary range of financial crises.

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The Takeaway

Income Inequality May Have Big Costs For Economy, Country

Monday, August 30, 2010

A small group of economists are trying to study whether income inequality may have contributed to the economic collapse. The income gap in the years leading up to the recent recession, which is often compared to the Great Depression, has a striking resemblance to the income equality in 1928, when the top 10 percent of earners received nearly half of the total income. Finance reporter Louise Story wrote about this theory for The New York Times earlier in August, and we spoke with her about the income gap on The Takeaway last week.

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The Takeaway

The Economy: Double-Dip or Mixed Results?

Friday, August 27, 2010

Federal Reserve chairman, Ben Bernanke speaks today at an annual Federal Reserve Bank of Kansas City economic symposium in Jackson Hole, Wyoming. What will Bernanke say about where our economy stands, in light of some recent grim numbers we've received this summer? And do we face a real threat of a "double-dip recession?"

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The Leonard Lopate Show

The EU's Bank Stress Tests

Tuesday, July 27, 2010

Last week the European Union released the results of the stress tests it ran on almost 100 banks. Matthew Saltmarsh, staff reporter for the International Herald Tribune, discusses the results and whether they’ll help restore investor confidence to the troubled Euro-zone.

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The Takeaway

In Desirable Boston Suburbs, 'McMansions' on the Rise

Friday, July 16, 2010

They’re back: Massive homes, heavy on square footage and sometimes light on architectural style, are seeing a resurgence in certain Boston-area communities.

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The Takeaway

After Financial Overhaul, Obama Hopeful as G-20 Begins

Friday, June 25, 2010

On the heels of the House and Senate deal on financial reform, President Barack Obama is heading to Toronto for the latest G-20 summit. "This weekend in Toronto I hope we can build on this progress by co-ordinating our efforts to promote economic growth, to pursue financial reform and to strengthen the global economy," the president said during a press conference outside the White House this morning.

To give us a breakdown of what will be on the docket at the G-20, we turn to Newsweek and Slate columnist Dan Gross.

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The Takeaway

Jeffrey Eugenides on his Detroit Roots

Thursday, April 29, 2010

Author Jeffrey Eugenides was born and raised in Detroit and the city often becomes a central character in his writings. (He lives in Princeton, New Jersey, these days.) He’s based both of his novels, Pulitzer Prize-winning "Middlesex," and "The Virgin Suicides," in the Motor City. He says as a native Detroiter it's still easy for him to love his home town: more so, perhaps, than the average outsider.

 

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The Takeaway

Richard Florida on America's 'Great Reset'

Tuesday, April 27, 2010

Even though many economists are proclaiming the "Great Recession" ending or over, the nearly 10 percent of Americans who are unemployed probably find it difficult to imagine exactly what a prosperous, post-recession America will look like. Richard Florida, author of "The Great Reset: How New Ways of Living and Working Drive Post-Crash Prosperity," says that's because the crash has fundamentally altered how we feel about spending and saving. He says we're all in the process of resetting the way we work and live.

We started the conversation by asking the question: Have you remade your life because of this recession?

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The Takeaway

Takeouts: State Economies Follow Greece's Footsteps, the NIT Tournament, College Basketball's 'Other' Big Tourney

Tuesday, March 30, 2010

  • FINANCIAL TAKEOUT:  Global economists have been examining the frightening harbingers of Greece's economic fall, but the causes may be all too familiar to the U.S. American economies may be dangerously close to experiencing the same failings that we saw in Greece. Louise Story, Wall Street and finance reporter for The New York Times, explains which states might suffer the worst.
  • SPORTS TAKEOUT: Takeaway Sports contributor Ibrahim Abdul-Matin analyzes the NIT Tournament which begins tomorrow.  Some call the NIT the "other" College Basketball Tournament and Abdul-Matin wonders if that stigma is still deserved.

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The Takeaway

As Recession Rages On, Male Sexual Harassment Claims Go Up

Tuesday, March 30, 2010

As is often the case during an economic recession, employment litigation claims are going up. But new statistics from the Equal Employment Opportunity Commission indicate that, more than ever, sexual harassment claims are being filed by men. 

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The Takeaway

The Value: Affordable Living at Sea

Tuesday, March 16, 2010

For our series, "The Value," Takeaway correspondent Farai Chideya traveled to the Bay Area for a lesson on how to live on the  cheap in one of the country's most costly neighborhoods. A family in Saulsalito, California manages to cut costs by living on their boat. By avoiding expenses like the cost of a car and gas, the family is able to sail around the world and return home with adventurous stories to tell.

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The Takeaway

Do Film Tax Credits Hurt or Help Local Economies?

Tuesday, March 09, 2010

Massachusetts is one of forty-six states that offer tax credits to filmmakers who agree to produce their movies in that state. The benefit for the Commonwealth is added jobs and more local business while the film is in production. But some are calling for the governor to put a cap on the tax credit in order to balance the budget.

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The Takeaway

How to Turn your Hobby Into a Business the World Wants

Tuesday, February 16, 2010

Have you ever thought of turning your daydreams into a business? The economic climate may be stormy, but now might be the perfect time to do it − depending on where your interests lie. Justin Jones-Fosu, leadership trainer and host of WEAA's "Listen Up!" explains.

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The Takeaway

Illegal Immigration on the Decline, Impact in Florida

Monday, February 15, 2010

According to the Department of Homeland Security, the number of illegal immigrants living in the U.S. has declined by one million since 2008, with states like California, Florida, Arizona, New York and New Jersey seeing the largest drops. The economic recession has made it difficult for many undocumented immigrants to find work and make enough money to send to their families in their country of origin.

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The Brian Lehrer Show

Covering the Job Market: Help Wanted

Thursday, February 11, 2010

You hear the numbers everyday: unemployment hovers over ten percent. Millions of Americans are out of work. We all get the scope and the magnitude of the situation, but we need to understand the impact on the individual. In the twenty-first century, what does it mean to be unemployed for over a year? What does it take to walk away from a job in this economy? How do you survive the crushing competition or navigate complicated procedures?

The Brian Lehrer Show is very pleased to introduce five job seekers who will help us explore the job market in this tough economy. These five have pledged to share with all of us the good and the bad moments on their journey to a new job. Their introductions are below. Their stories, as well as discussions, advice and helpful links, will remain on a new page in Facebook dedicated to this project. It's called Help Wanted. You can follow along and respond to the authors there.

Meet Naomi, Alyson, Maryli, Ginger and Jim

Meet Naomi, Alyson, Maryli, Ginger and Jim

Naomi
Commercial, landlord/tenant, and matrimonial litigation

I was born in Wisconsin and grew up in Vancouver, Canada. My parents, refugees from Germany and Poland, had first landed in New York and attended college here. I moved to the city on my own when I was nineteen, but spent long stints away before I settled down and became an attorney. I worked for an American exhibit traveling in the former Soviet Union (Moscow, Tashkent, Irkutsk, and Tbilisi), as a Russian-speaking resettlement counselor in Boston, and for the U.S. State Department program that admitted refugees from the USSR. My most recent position was as recoupment counsel for Fidelity National Title Group, a fortune 500 company. The carrier issues policies on property titles when there is a sale, so we were very hard hit by the recession. In January, 2009, the company announced that it was closing its claims offices in midtown Manhattan, Buffalo, Chicago, and New Jersey. I was laid off along with almost all the other counsel in those offices. Prior to Fidelity, I practiced motor vehicle accident litigation, mainly writing and arguing motions and appeals.

One good thing that has come out of my layoff is that I have been able to spend more time with my three daughters. Also, I have had the opportunity to work as a volunteer attorney for the city and the state. I did research and writing in the chambers of a Manhattan Supreme Court judge who handles international commercial litigation, represented low-income New Yorkers in court, sat as a volunteer arbitrator in small claims court, and did research for a city agency. Even though I don't have a paying job, on good days, I still get a thrill out of being at the heart of life in New York.

Alyson
Fashion Design

I am a 25 year old assistant fashion designer for a vendor in New York City. Disappointed with my employment, I am currently seeking a new job or possibly a new career. When I lived in Ohio, I had very high aspirations to move to New York City and work for major designer labels. When I was laid off from a large corporate brand in Ohio, it pushed me to move to the city earlier than I had planned. Employment opportunities in the fashion industry were already sluggish when I graduated college in 2007. Determined to remain in the fashion industry, I have worked for two less than satisfactory companies.

I started actively seeking employment five months ago and have not yet received one reply or interview. Quitting is not an option in this economy, so I remain employed. In the past year, I have attended resume and portfolio

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The Brian Lehrer Show

Calling All Job Seekers

Monday, January 25, 2010

"first application" by gtmcknight on flickr

\'first application\' by gtmcknight on flickr

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The Takeaway

Temp Workers Find More Jobs In November

Tuesday, December 08, 2009

Temporary and contract workers may be the first to start feeling some relief as the recession ebbs. Temporary staffing companies found jobs for more than 52,000 workers in November, the most since 2004, the Bureau of Labor Statistics reported this week. For a deeper look at the freelance market, we speak with Sara Horowitz, founder and executive director of Freelancers Union. We also speak with University of Chicago Professor Susan Lambert.

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