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...first half of last year, according to the Publishers Information Bureau. Fortune, published by Time Inc. (owner of TIME.com), sold 38% fewer pages, and Forbes was down 30% (a number possibly skewed by the inclusion of ForbesLife). But as a weekly, the McGraw-Hill publication has higher editorial and production costs than the other two. And they all have much bigger expenses than the legion of websites that offer business journalism exclusively online - daily, even hourly. Industry experts estimate Business Week could lose $20 million in 2009. (See the best and worst TIME magazine covers...
...Goldman's strategists raised their expectation for 2009 earnings 30%, and they hiked the 2010 outlook 19%. With that boost, the 2010 earnings for S&P 500 companies should be 45% higher than 2009's, Goldman says. Those hefty upward revisions, which sent investors on a buying spree, didn't come because consumers are suddenly spending more or because housing is bouncing back - neither of which Goldman asserts. The lion's share of Goldman's new optimism derives from the fact that banks look more profitable now than they did several months ago. (Read "How to Know When the Economy...
While youth unemployment across the E.U. is significantly higher (17% for those 25 and under) than in the general population (7.6%), some countries are more vulnerable than others. German companies tend to hire workers at an early age; French and Spanish firms prefer temporary contracts to get around sometimes draconian labor laws. "The social crisis is more pronounced [in France and Spain] because their citizens believe policy should create more employment. But in a downturn, it leads to a rapid increase in just the opposite," says Askenazy...
...good looks and 25¢ will get you a phone call. Australia has a higher proportion of naturally rugged men than any other country on Earth, but combined, its two most recent Prime Ministers, John Howard and Kevin Rudd, have the sex appeal of a church mouse. Who cares? Both have made tough calls--Howard to back the U.S. through thick and thin after 9/11, Rudd to apologize for the treatment of Australia's Aborigines--and they've been stewards of one of the world's longest-lasting economic booms...
...less. But this recession has led to record enrollment surges at many two-year schools, in part because of the influx of laid-off workers but also because more members of the middle class are looking to save money on the first couple of years of their children's higher education. Among them is Bruce Anderson, an Austin attorney who has lost nearly a third of his savings since the recession began and doesn't want to sideline his kid while waiting for the market to come back. His son Tyler will start at ACC this fall and, as long...