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...lost their jobs or their homes, or both. Yet amid the gloom there was one reason to celebrate as the year ended: filling your car with gas got cheaper with each day. After hitting a high of $147 a barrel in July, world oil prices have crashed to their lowest levels since 2004. By Jan. 7 the cost of oil for February delivery was around $43 a barrel - less than half the price of a year earlier. Goldman Sachs last month predicted that the price could sink to as low as $30 by March. For car owners, airlines...
...mailings declined 57% from the first quarter of 2007 to the first quarter of 2008, according to the Chicago-based mail and advertising tracker Mintel Comperemedia. And credit card offers by mail sagged 28% from the third quarter of 2007 to the third quarter of 2008, dropping to their lowest point in more than three years. (See the top 10 financial-crisis buzzwords...
...benefits using its reserves. Massachusetts’ unemployment trust fund became insolvent during the 2003 recession, prompting the state to revamp its unemployment insurance system. The system today includes five “schedules,” or brackets, of employer contribution levels, ranging from Schedule A, the lowest, to Schedule E, the highest, implemented based on trust fund reserve levels. The state was supposed to shift from Schedule D to E in 2008, but the change was delayed until this year by the legislature. “We’ve had no serious opposition to [the shift...
Sales of new vehicles dropped in December to the lowest level since the early 1980s, as carmakers turned in a terrible fourth quarter despite aggressive use of incentives. Embattled Chrysler showed the worst decline of all, with sales tumbling...
...admissions for two years, dismaying potential admits—particularly at Deep Springs, a two-year college with a long tradition of Harvard transfers. And spurred by this same caution about residential constraints, the admissions office took a conservative approach to applicants for the class of 2012, announcing the lowest admissions rate in recent memory, before admitting an unprecedented 200 students off the wait list when its acceptance rate dropped slightly...