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86 per cent of Small Firms Fear Double-Dip Recession |
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Domestic
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Wednesday, 01 September 2010 19:28 |
 A massive 86 percent of small-business owners fear a double-dip recession is about to happen. According to a quarterly survey by Citigroup, three in four businesses rate current business conditions as fair or poor. Some 70 percent of business owners say the recession has forced them to change the way they run their business. The most often cited adjustments were reducing debt, increasing cash reserves, freezing hiring and delaying expansion plans. Two-thirds say their business has been forever changed by the downtrodden economy. Two thirds of small businesses have survived the slowdown through long-term client relationships. Other survival techniques included effectively managing expenses and providing recession-proof products and services. According to the survey, the biggest challenge to running a business was higher taxes, followed by plummeting demand for products and services, tougher business regulations and the cost of health insurance.
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Congress grows Richer While Americans Get Poorer |
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Domestic
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Wednesday, 01 September 2010 19:22 |
  While most Americans have struggled to make ends meet during the recession, some members of congress have actually grown richer. According to the congressional newspaper, The Hill, the collective net worth of the 50 richest members of the Congress was at least $1.4 billion in 2009, up more than $85 million from the year before. Made up of 30 House members and 20 senators, the list comprises 27 Democrats, including House Speaker Nancy Pelosi, and 23 Republicans. Topping the list is Senator John Kerry, whose declared worth was $189 million, an increase of $20 million over in 2008. Kerry came under fire for avoiding taxes on his $7 million yacht.
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Unemployed protest on Wall st (press release) |
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Domestic
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Wednesday, 01 September 2010 19:17 |
 Packed at the feet of George Washington’s statue on Wall St, more that a 100 people representing groups from across the country Wednesday called on unemployed people to join them for a march on Washington October 2nd. The movement One Nation Working Together is demanding jobs, justice and education for all Americans. Organizations represented were the NAACP, AFL-CIO, SEIU, Green for All, NCLR, 1199/SEIU, USSA, saying workers need to pull together to demand jobs. Events across the country are planned throughout this week. Leslie Cagan of United for Peace and Justice, and Larry Holmes of ANSWER-Act Now To End War and Stop Racism were spotted among the protestors.
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