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What's going on here? Economists say that even in this downturn, financial services has proven to be more recession-proof than other lines of work. Consumers can put off buying a new car or going on vacation. But most people will still continue to pay their mortgage, write checks and deposit money at the bank. "The fact that the financial-services industry is declining this much is startling," says Joel Prakken of research firm Macroeconomic Advisers, which puts together ADP's employment report...
...hire new workers," warns Bruce Josten of the U.S. Chamber of Commerce. What business would prefer to see - and what Obama rejected during his presidential campaign - is an individual mandate requiring everyone who doesn't get health coverage at work to go out and buy it, just as car owners have to carry automobile insurance. But that means the Federal Government would have to subsidize people who couldn't afford it themselves, upping the health-care-reform price tag considerably. Obama says he can support an individual mandate only if it has a "hardship waiver to exempt Americans who cannot...
...slump faced by U.S. and European automakers has encouraged Chinese companies - buoyed by China's ranking as the world's largest car market in the first quarter of 2009 - to hunt for buyout candidates overseas. "It's definitely a good time to buy Hummer," says Liu Chang of Sinomind Management Consulting in Beijing. "GM wouldn't sell it if it was in better shape." But China's previous results from acquisitions of foreign automakers have been poor. In 2004, Shanghai Automotive Industry Corp. paid $500 million for a 49% stake in South Korea's Ssangyong Motors, which declared bankruptcy...
...shooting was all the more surprising.A Pokemon card aficionado in his childhood who once amassed an entire book of the much hyped collectibles, Cosby later channeled his energies into playing basketball and maintaining his ’95 BMW.“He was very proud of this car,” his mother recalled.Cosby said that she had no idea why her son, who lives with her in a high rise apartment building in Cambridge, was in Harvard Square the day of his death. Cosby also leaves behind his sister, Shenita, who flew in from Atlanta upon hearing...
...professors on the committee vested with implementing the College’s first curricular overhaul in 30 years, science professor John Huth does not take his obligations lightly. One morning this spring, he had to drop his daughter off at school, take his car to the mechanic, bike to his office, and change into a dress shirt there, all by 8:30 a.m.—to make it to a General Education committee meeting, where he would help hammer out course proposals for an hour and a half. It’s behind-the-scenes labors like these that...