Record US Job Losses in 2008

(New York) – With unemployment at 7.6% close to 11 million Americans find themselves looking for work. This is the highest unemployment rate since January 1993. This number does not take into account the workers who have stopped looking for work or had to switch from full time to part time work.

MTA Unveils Plans For 2009 Fare Hikes

( New York) – In a move which will affect the majority of New Yorkers and even more so during these trying economic times the MTA released their final proposed 2009 budget along with a four year financial plan for 2009-2012.
According to a report facing a small budget surplus in 2009, the next three years [...]

St. John’s Alumni Assistance Program

(New York) – St. John’s University recently launched, without much fanfare, a new program aimed at helping its alumni. The program is aimed an any alumnus from the University who has been laid off in the last six months. The program will allow all alumni to attend graduate school at discounted rate of 50%.
This programed [...]

Poland Ends Military Draft

After 90 years Poland has ended its program of conscription into the military. All men 18 years and older must serve 9 months in Poland’s military.
Poland for most of its history was under threat of invasion. Recently these threats have loomed large yet again. These threats coming mostly from its neighbor to the east with [...]

Auto Loan stopped by Republicans

Republicans would not let the auto companies get the no interest bridge loan which they need to keep their workers. Minority Senate leader Mitch McConnell (R-KY) has annouced opposition for the bill. He and other republicans want more concessiosn from the UAW.
They believe the American workers don’t deserve to earn as much as they currently [...]

Bailout to save the MTA

Last week a panel composed of current and former MTA employees including former MTA chairman Richard Ravitch unveiled a plan to save the MTA from a fiscal disaster.
Due to the recession the MTA isn’t able to get money from Albany or even the city to bridge the difference between income and expenses. The MTA would [...]

Poll: Has the economic downturn affected you?

533,000 Jobs lost in November

Parents, instead of wondering how to get their children the toy they wanted, have to figure out how they’ll eat dinner tomorrow. This will mean more tough decisions for families as they decide their futures.

Obama nominates Richardson

Today President-Elect Obama nominated Bill Richardson to be his commerce secretary. Many expected him to receive the nod for Secretary of State, when it went to Hillary Clinton it seemed he had fallen out of the good graces of the President. However Barack remembered his endorsement early on in the campaign and has brought in [...]

Citigroup Gets Government Bailout

Henry Paulson and the Treasury Department have once again agreed to take on the burden of failed and risky assets held onto by a bank. This time it’s one of the big three banks in the United States, Citigroup bank which also runs Mexico’s second largest bank Banamex.
On top of taking on these risky assets [...]