Economic Downturn
Economic Downturn
  • Banks have money to loan, but many tightening criteria
    There's a public perception that banks are short on cash for loans to businesses and individuals. But many Minnesota banks say they have plenty of cash to lend out, as long as borrowers can meet stricter lending guidelines.January 1, 2009
  • Voices of the struggle
    Many of us are hoping the new year will bring better news in the economy. In 2008 we experienced one of the worst recessions on record. Many Minnesotans struggled -- losing their jobs, watching their retirement savings shrink as the stock market tanked. MPR's Annie Baxter talked to some of those people over the past year.January 1, 2009
  • Slowing economy has some ships tying up early for winter
    There are still a couple of weeks left in the Great Lakes shipping season. But the recession is drying up business, and a number of Great Lakes ships have already called it quits, tying up for winter early.December 31, 2008
  • Looking for jobs in the new year
    With unemployment rising and the job market looking bleak, there are few reasons to be confident about finding a job in to the New Year. Career consultant Amy Lindgren says the first place to start is by tackling anxiety and fear.Midmorning, December 30, 2008
  • Retailers hope for a post-Christmas sales bump
    Retailers are scrambling in these final days of the year to try to salvage what has been a dismal shopping season for them. Many stores are cutting prices 30 to 70 percent, trying to boost sales.December 30, 2008
  • Paul Krugman at the National Press Club
    Economist Paul Krugman addresses the country's economic crisis at the National Press Club. Krugman won the 2008 Nobel Prize in Economics for his work at Princeton University and as a columnist for the New York Times.Midday, December 19, 2008
  • Library usage increases with the recession
    There's one place where business is booming right now despite the recession. It's your local public library.December 18, 2008
  • Recession provides real world lab for biz schools
    Professors know one of the best ways to capture students' attention is to use real world examples in the classroom. The current financial turmoil is one of the most effective teachable moments ever for business schools.December 18, 2008
  • Pentair cuts 1,600 jobs
    Golden Valley-based Pentair added to the gloom in the job market today. The maker of pumps and filtration equipment says it's cutting 1,600 jobs. A small fraction of the cuts will fall in Minnesota.December 18, 2008
  • Minnesota's jobless rate jumps to 6.4 percent
    The job market continues to get tougher for Minnesotans as the recession deepens. Minnesota lost another 10,500 jobs in November and the state's unemployment rate spiked 10 6.4 percent.December 18, 2008
  • Heart of the Beast closes temporarily
    The recession has forced In the Heart of the Beast Mask and Puppet Theatre in Minneapolis to temporarily close its doors and lay off its staff.December 18, 2008
  • Graco to cut 150 jobs
    Minneapolis-based Graco announced today that it was eliminating 150 jobs, or approx. 6 percent of its workforce.December 17, 2008
  • Chrysler closing all 30 plants for one month
    Chrysler says it will close all 30 of its manufacturing plants for a month starting Friday.December 17, 2008
  • Mpls. Fed forecasts rising unemployment in 2009
    The Minneapolis Federal Reserve Bank says the economic downturn will continue in 2009, with unemployment rates rising and recovery in the home building and the real estate markets expected to take more than a year.December 17, 2008
  • How bad can it be?
    The economy continues to stagger, and Minnesota is not faring better than the rest of the country. State government is facing a record budget deficit, unemployment is hovering at 6 percent, and business stalwarts like Best Buy are cutting back.Midday, December 17, 2008

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