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...decades, as the firms remaining on Wall St. are shrinking their workforce and turning away even the most qualified applicants. Signs of the new crunch are not hard to come by, especially for young job-hunters immersed in the recruiting process.Kayley E. Laren ’09, the chief investment officer for Smart Women Securities—a student group dedicated to investment education—said that many firms are not looking to hire much beyond the size of their summer class.“There are far fewer firms that are in the career pool because of bankruptcies...
President Barack Obama often induces comparison to Abraham Lincoln. However, his recent announcement of a budget schedule that slices the deficit by one-half aligns him with a less celebrated commander-in-chief: Herbert Hoover. Hoover, the man whose infamous attempt to balance the budget in the face of skyrocketing unemployment and a deepening recession pushed the American economy over the edge into the Great Depression, is hardly a good example for our new president. Obama’s plans will not necessarily launch our economy into a depression. He is attempting to slash the deficit, not eliminate...
...abandoned highway repair project - the brutal realities of a state in freefall with no balanced budget. But it's still a bit of a shock. "The average Californian hasn't figured out exactly what this particular budget means for him or her yet," says Mark Baldassare, president and chief executive officer of the nonpartisan Public Policy Institute of California. "But they're going to feel it soon...
...everyone is devastated by the budget's fine print. It includes tax breaks for large corporations, film companies that keep production in-state, buyers of new homes and small businesses that hire new employees. "The state was about to go over a cliff," says Allan Zaremberg, president and chief executive officer of the California Chamber of Commerce. "No tax in a recession is a good tax. But I think the legislature and the governor went out of way to spread taxes by as many Californians and businesses as possible so the impact would not hurt any one industry...
...Democratic Party, the main center-left opposition to Prime Minister Silvio Berlusconi's right-wing coalition government. At the national level, the party is in utter disarray, mired in petty battles of personalities and unable to cast aside the remnants of bygone labels and ideologies. This week, Democratic party chief Walter Veltroni resigned after the party's sitting member in Sardinia was walloped in regional elections by Berlusconi's hand-picked candidate. After Veltroni's resignation, Berlusconi quipped that he is "getting used to not having an opposition...