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December 14, 2009 | Hector Tobar
I took a walk last week with the Ghost of Recessions Past. I traveled back to the Great Depression, when the Los Angeles River ran unfettered and public gardens bloomed on the Eastside and parents swallowed their pride and took "relief" to feed their children. Then I visited the recessions of the early 1980s and 1990s, when auto and aerospace factories closed, and more than a million people packed up and moved away, and part of the city exploded in rage and burned. Talking to the Ghost of Recessions Past is a real downer.
April 25, 2014 | Jim Puzzanghera
WASHINGTON -- Consumer confidence rebounded sharply this month to near a post-Great Recession high since 2007 as Americans were more positive about their financial situation and outlook for the economy, according to a leading private barometer released Friday. The monthly consumer sentiment index from the University of Michigan and Thomson Reuters, which is watched closely by economists and investors, rose to 84.1 from 80 the previous month. The jump surprised economists, who had expected a smaller increase to 82.5.
Mexican President Vicente Fox finally uttered the "R-word," saying publicly for the first time what economists have known for weeks: Mexico is in a recession brought about by U.S. economic woes. Mexico had been an island of stability this year among troubled Latin American economies. Mexico's inflation and interest rates are down, while investor confidence is up, leading to a rising tide of foreign capital flowing in and a strong peso.
April 20, 2014 | By Walter Hamilton
Debbie Rohr lives with her husband and twin teenage sons in a well-tended three-bedroom home in Salinas. The ranch-style house has a spacious kitchen that looks out on a yard filled with rosebushes. It's a modest but comfortable house, the type that Rohr, 52, pictured for herself at this stage of life. She just never imagined that it would be her childhood home, a return to a bedroom where she once hung posters of Olivia Newton-John and curled up with her beloved Mrs. Beasley doll.
May 16, 2012 | Los Angeles Times wire reports
Harold A. "Red" Poling, a former Ford Motor Co. chairman and chief executive officer who helped lead the automaker through two recessions, has died. He was 86. Poling died Saturday at his home in Pacific Grove, on the Monterey Peninsula, the Dearborn, Mich.-based company announced. The cause was not given. As chairman and chief executive from 1990 to 1994, Poling led the company through a deep recession, when Ford's sales in North America and Europe plunged and losses totaled $9.64 billion in 1991 and 1992.
January 3, 2011 | Gregory Rodriguez
Recessions are not only depressing, they're downright boring. I don't mean to make light of the real financial hardship many Americans are facing. Unemployment is at 9.8%. One in every 492 homes received a foreclosure notice in November. Those are devastating figures. And even for those who are still employed, still making the rent or the mortgage payment, hard times are taking a psychic toll. Even for the luckiest among us, living through an economic downturn feels a little bit like renting a high-performance car and having to drive it in first gear, or walking on proverbial eggshells while chatting with a cranky relative, or taking a stroll around the block with a sprained ankle.
January 30, 2009 | Times Staff and Wire Reports
Nintendo Co. forecast its first annual profit drop in five years as the deepening recession undermined demand for the bestselling Wii game console. Nintendo cut its Wii sales forecast for the first time, hurt by recessions in Europe, Japan and the U.S. The Kyoto, Japan, maker of the motion-sensing Wii said the stronger yen would also erode earnings.
March 24, 2002 | KEVIN PHILLIPS, Kevin Phillips' next book, "Wealth and Democracy: A Political History of the American Rich," will be published in May.
The Committee for the Direction of the American Economy--sticklers know it as the Federal Reserve Board--met last week and declared itself satisfied with the resurrection of national prosperity. Unfortunately, this provides only marginal comfort, because a possible roller-coaster economy may take Americans for a double-dip recession ride in 2003. Over the last three decades, under the ever more prominent guidance of the Fed, the U.S. business cycle has developed a little-understood quirkiness.
July 11, 1996 | From Associated Press
As catch phrases go, "opportunistic disinflation" is certainly a mouthful. But a new Federal Reserve Board paper on the subject has the economics world buzzing. Some see it as a sign that hawkish Alan Greenspan and his colleagues may be willing to tolerate a little more inflation in the name of higher growth and more jobs.
Los Angeles County's real estate market continues to climb out of the depths of the recession of the early 1990s, but the region's more affluent neighborhoods have made markedly greater gains than other areas, according to property tax data to be released today. Overall, the county's real estate assessments increased by $30 billion, or 6%, last year, a boost that shuts the door on years of decline in property values that led to government crises and financial hardship for homeowners.
April 7, 2014 | Bill Dwyre
Somewhere, lost in the sleaze that all so often defines what college basketball has become, are the overlooked culprits. Mom and Dad. We in the media rant on and on about AAU coaches and summer leagues and slimeball agents (is that redundant?). We harp on coaches who cheat to get the blue-chip player and college administrators who look the other way. We make fun of the NCAA because it is so big and pompous and obtuse and full of itself and makes so much money off the pimpled backs of teenagers.
March 24, 2014 | By August Brown
Add "being in on the joke" to the long list of things that Skrillex does well. The EDM producer kicks off his surprise debut LP "Recess" with a track called "All's Fair in Love and Brostep," winking at the fact that he's responsible for making bass music safe for frat-house jello wrestling pools. The 26-year-old Sonny Moore has always been a lot smarter than that reputation would suggest though, and "Recess" is his most ambitious and varied collection. While Skrillex may have found the perfect setting for his music in last year's guns-drugs-and-dubstep flick "Spring Breakers," "Recess" is a similar road trip through his many interests and vices.
February 28, 2014 | By Alana Semuels
Does spending less money on state government stimulate the economy? That's a question raised in a Los Angeles Times story Friday about states that have not restored budget cuts made during the belt-tightening of the recession. The story focuses on Kansas, where general fund revenues have increased but spending is still down since 2008. Gov. Sam Brownback argues that income tax cuts, rather than spending, will stimulate the economy; local government leaders say that services have eroded so much that the state is becoming a less attractive place to live.
February 27, 2014 | By Alana Semuels
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 | By Jim Puzzanghera
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 | By Amro Hassan
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.
October 5, 1993
I don't think recessions are all that bad; it's just nature's way of lowering the rent for awhile. MICHAEL P. OSTRYE San Diego
February 9, 2014 | By Stuart Pfeifer
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.
February 8, 2014 | By Mark Z. Barabak
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...
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