Economic Downturn
Economic Downturn
  • Buffett says US in 'economic Pearl Harbor'
    Billionaire investor Warren Buffett says the U.S. is engaged in an "economic Pearl Harbor."January 19, 2009
  • More cuts at Schwan Food Co.
    The Marshall-based company said Tuesday it has eliminated 52 jobs. It's the second time in four months that the company has announced job cuts.January 13, 2009
  • Supervalu begins closing stores
    Supervalu Inc. says it has begun the previously announced closure of about 50 of its stores nationwide, including four Cub Foods stores in Wisconsin.January 13, 2009
  • Hutchinson Technology job cuts go deeper
    Hutchinson Technology says it has to slash more jobs than it initially announced in December. The Hutchinson, Minn.,-based company makes components for computer hard drives.January 13, 2009
  • Best Buy sales dropped again in December
    Richfield-based Best Buy had a pretty bad holiday shopping season. Sales at Best Buy stores open at least 14 months slipped 6.5 percent in December.January 9, 2009
  • Minn. unemployment fund headed for deficit
    Increased unemployment rates and shrinking payrolls are putting pressure on a fund that pays benefits to unemployed people in Minnesota.January 9, 2009
  • Cirrus Design makes another round of job cuts
    Duluth aircraft manufacturer Cirrus Design has trimmed another 50 jobs, in addition to some 200 cut last year.January 8, 2009
  • Target, other retailers face tough road ahead
    It wasn't a very good Christmas for Target and other retailers. December sales numbers released today left little doubt. But, retailers are bracing themselves perhaps even tougher times ahead.January 8, 2009
  • Andersen Windows cuts jobs, makes temporary layoffs
    Bayport-based Andersen Corp., the largest window and door manufacturer in North America, is making temporary and permanent job cuts because of the economy.January 8, 2009
  • 500 Best Buy employees to take buyouts
    About 500 employees at Best Buy's Richfield headquarters have indicated they want to accept buyout packages. The company offered that option to all its 4,000 headquarters employees as a way to cut costs.January 8, 2009
  • Obama seeks new 'foundation' for economic growth
    President-elect Barack Obama today spelled out the key elements of an "American Recovery and Reinvestment Plan" that he is touting to treat a sick economy.January 8, 2009
  • Chrysler sales drop 53 percent; other carmakers not much better
    Chrysler's December U.S. sales plunged by more than half and it sold 30 percent fewer vehicles in 2008, dwarfing the steep declines at the other major automakers as consumers remained uncertain about the economy and their jobs.January 5, 2009
  • Survey: Recession will worsen in the months ahead
    The recession will worsen and unemployment rates will likely soar in nine Midwest and Plains states over the next few months, according to a new survey of business leaders in the region.January 2, 2009
  • Manufacturing index drops to 28-year low
    Manufacturing activity fell more than expected in December, hitting the lowest reading in 28 years as new orders and employment continue to decline.January 2, 2009
  • Tough times for the news business
    All media outlets will be facing financial challenges this year. We'll ask what areas they can afford to pare back while still serving the demand from news audiences.Midmorning, January 2, 2009

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