February 27, 2014 |
KANSAS CITY, Kan. - At Noble Prentis Elementary School, a classroom is crammed with 31 students and all their backpacks and books. Last year, the fifth-grade class had just 17 students, but a teaching position was cut when the school ran short of money. The school nurse, who comes in only twice a week, freezes kitchen sponges to use as ice packs because her budget is too small for her to buy any. Schools have always had to fight for more funding, but Noble Prentis' problems were exacerbated during the recession when state budget cuts left schools, like many other public services, foundering.
February 24, 2014 |
Former Federal Reserve Chairman Ben S. Bernanke first gained prominence writing about the Great Depression. Now he plans a memoir to defend how he and other officials battled the biggest crisis and economic downturn since then. “I'd like to be able to explain that it was the right thing to do and to attest to my loyalty to the United States," Bernanke said with a laugh in an interview with the Associated Press on Monday. Bernanke has been sharply criticized for the unprecedented actions the central bank took in response to the 2008 financial crisis and the Great Recession.
February 20, 2014 |
CAIRO - Twenty journalists, including four foreigners, went on trial Thursday in Egypt on charges of aiding a terrorist organization, but the proceedings were quickly adjourned until March 5. Only eight of the defendants, including Australian reporter Peter Greste, stood before the Giza governorate's criminal court. The rest remain at large and are being tried in absentia. Greste was joined in the defendants' cage by Egyptian Canadian news producer Mohamed Fahmy and journalist Baher Mohamed.
February 9, 2014 |
People like rich, tasty food - and sweet, smooth desserts. That's a recipe the Cheesecake Factory Inc. has been following for more than three decades. The company's roots can be traced to the home kitchen of Evelyn Overton, who ran a small baked goods business from the family home in Detroit in the 1940s. She and her husband, Oscar, later moved to California to launch a bakery. In 1978, their son, David, opened the first Cheesecake Factory restaurant in Beverly Hills. "I didn't know what I was doing," David Overton told The Times in a 2011 interview.
CALIFORNIA | LOCAL
February 8, 2014 |
SALINAS, Calif. - Tony Salameh and Danielle Clark weathered the Great Recession from two worlds just a few miles apart. Salameh, 62, owns several restaurants in Carmel, the wealthy hamlet perched like a small jewel overlooking the sea. After a significant falloff, business is about where it was five or six years ago. Salameh's bottom line, though, is a third what it used to be; tourists are back in force, but they order lamb sliders or spring rolls...
February 7, 2014 |
While other sectors of the U.S. economy have yet to completely rebound from the recession, the travel industry has surpassed its pre-recession employment numbers. U.S. Department of Labor figures released Friday show that the travel industry added 7,000 jobs in January, reaching a total of 14.6 million. The same report revised previous data, showing that the industry stands 11% above the employment peak of February 2008. Much of the growth has been fueled by international travel to the United States, especially spending by visitors from China, Brazil, Japan and Australia.