Mortgage Bust - News for the New Depression

From Silicon Alley Insider Google has about 10,000 contractors and it wants to reduce that number, PR rep Jane Penner told CNET. "We have 10,000, and we have had a plan in place for awhile to significantly reduce that number," Penner told CNET. "This is something we've been thinking ...

NYT Federal regulators announced late Sunday night that the government had approved a radical plan to stabilize Citigroup in an arrangement in which the government could soak up billions of dollars in losses at the struggling bank. President Bush said on Monday that more such rescues could be arranged ...

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NEW YORK (Reuters) - The Associated Press plans to cut up to 10 percent of its workforce in 2009, according to sources at the news service, as it copes with tough financial times and ailing member newspapers. The AP has one of the world's largest news-gathering teams, employing about 3,000 journalists, ...

Citigroup Inc. is cutting approximately 53,000 more jobs in the coming quarters as the banking giant struggles to steady itself after suffering massive losses from deteriorating debt. The plans, posted on the company's Web site, are being discussed by CEO Vikram Pandit at the company's town hall ...

Full report The next two decades will see a world living with the daily threat of nuclear war, environmental catastrophe and the decline of America as the dominant global power, according to a frighteningly bleak assessment by the US intelligence community. “The world of the near future will be subject ...

NEW YORK (Reuters) – Sun Microsystems Inc (JAVA.O) said on Friday it will cut 5,000 to 6,000 jobs, as the economic crisis compounds the company's struggles with depressed demand for its high-end business computers. The job cuts represent 15 to 18 percent of its ...

The university has refused to say exactly how much it lost in the meltdown. But Moody's Investors Service has projected losses of 30 percent for college and university endowments overall this year. If that were applied to Harvard, it would mean a drop of $11 billion. Harvard ...

yahoo news NEW YORK (Reuters) - Morgan Stanley (NYSE:MS - News) plans to cut 10 percent of staff in its institutional securities unit and 9 percent in asset management, it said on Wednesday, as it copes with a deteriorating economy, disrupted capital markets and falling asset values. The ...

KSLA SHREVEPORT, LA (KSLA) - "We lost 2 billion dollars and like any other business we have to stay afloat." And to keep from sinking, the United States Postal Service is considering cutting thousands of jobs nationwide.  Lavelle Pepper with the post office in Shreveport ...