Economic Downturn
Economic Downturn
  • Tough economy not always tough on restaurants
    During an economic downturn, restaurant closings are no surprise -- but the Twin Cities are seeing a number of new openings. We also discuss restaurants' tried and true strategies and new deals to get customers in the door.Midmorning, November 12, 2008
  • Tough economy could create highway hazards
    Hard economic times could mean dangerous times on Minnesota highways. Auto mechanics say cash-strapped customers are putting off necessary auto maintenance. And, with few people buying new cars, mechanics say they're seeing a lot more older cars coming through their shops, cars that in some cases have been pulled out of retirement.November 12, 2008
  • Fed plan could save millions from foreclosure
    The federal government is hammering out details of a $50 billion program that would give lenders an incentive to modify home loans and make them affordable. The plan would help an estimated three million people avoid foreclosure, but some say lenders and the government need to do more to help homeowners before they fall behind.November 11, 2008
  • Dem leaders want Bush to help ailing automakers
    Democratic leaders in Congress asked the Bush administration on Saturday to provide more aid to the struggling auto industry, which is bleeding cash and jobs as sales have dropped to their lowest level in a quarter-century.November 8, 2008
  • Consumers continue to cut back spending amid economic woes
    It's been a rough week for economic news. A number of retailers, including Minneapolis-based Target, reported lower sales in October. Employers responded to their shrinking revenues by shedding jobs. The nation's jobless rate hit 6.5 percent this past month, the highest level since 1994.November 7, 2008
  • Obama's economic plans may significantly affect Minn. companies
    The election of Barack Obama is likely to have broad effects on Minnesota businesses. But three major Minnesota employers appear likely to be particularly affected, specifically Target, Best Buy and UnitedHealth Group.November 7, 2008
  • Cliff's warns of possible layoffs on Iron Range
    Cliff's Natural Resources has notified federal officials it could lay off workers at two Minnesota taconite mining companies, and two more in Michigan.November 7, 2008
  • Mayo Clinic to close unit, cut 30 jobs
    Mayo is closing its 100-person Mayo Clinical Trial Services because of anticipated future losses and a change in business strategy.November 6, 2008
  • Andersen eliminates 52 positions at Wis. plant
    The Andersen Corporation today announced it will cut 52 jobs at its Menomonie, Wisc., plant. The production and officeworkers will each receive severance packages and assistance finding new jobs.November 6, 2008
  • Wall Street hammered by bleak new economy reports
    A fresh wave of bad economic news, including a half-million Americans newly out of work and the weakest October retail sales in nearly 40 years, pummeled the stock market Thursday, driving the Dow Jones industrials under 9,000 again with a stunning two-day decline of 10 percent.November 6, 2008
  • Midwest survey suggests dour outlook for economy
    Creighton University, which conducts the survey, says the regional economy is clearly in a recession and is expected to deepen.November 3, 2008
  • Cities paying more to borrow money
    There are signs the tight municipal bond markets are loosening up, which would be good news for local governments. Public agencies from Minnesota cities to sewer districts to schools, rely on bonds to finance things like new buildings and equipment.October 30, 2008
  • Qwest 3Q profit down; will cut 1,200 jobs
    The job cuts will come before the end of the year, which will leave the company with 33,500 employees, 9 percent fewer than at the end of last year.October 29, 2008
  • More layoffs at Duluth-based Cirrus
    The Duluth-based plane manufacturer laid off 105 people Tuesday -- 75 at its Duluth plant, and 30 at its plant in Grand Forks, N.D.October 29, 2008
  • Furnaces at two taconite mines idled by downturn in steel market
    Layoffs are coming on the Iron Range. Taconite producer Cliffs Natural Resources announced today it's curtailing production at two northeast Minnesota taconite plants.October 28, 2008

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