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...Times has been the most aggressive of all the publishers searching for a solution to the ailing print business. It's common to see a Times product on a new communications device, from the first iPhone to the first Kindle. Later this month, the paper is supposedly coming out with a new Times Reader - the section fronts and archived crossword puzzles free, the rest by subscription - available as an Adobe Air application. It would hardly be surprising then to learn that the newspaper has been quietly working with Amazon to create an even more compelling Kindle-based product that takes...
...April unemployment figures will be out later this week. Six hundred thousand people lost jobs last month, according to most estimates. Two and a half million people have lost work since the beginning of the year. A housing recovery cannot occur in the presence of the massive collapse in unemployment. The devastation of the potential home buying base is too great. Many of the people who lose jobs will also lose their houses and that increases the inventory of unsold homes...
...Qualifying for a mortgage is harder than ever. Banks have reason to be cautious. One of the large credit bureaus just released a report that says 4.7% of payments for bank-issued credit cards were late sixty days or more in March, an increase of 38% over the same month last year. According to Reuters, "In March, lenders closed 20 million card accounts, sending the total down by 58 million since the peak in July 2008 to 380 million." Banks will not be lending to consumers as long as there are no solid and sustained signs of an economic recovery...
...recession has gone on so long and has been so crippling that the eyes of the wishful begin to play tricks. A small piece of economic information, like one month of very modestly improved housing numbers or one week of a slight decrease in jobless claims, sets off a chain reaction. If one set of numbers is OK, the next set will be better. Real estate prices will stop falling everywhere, if they stop falling in hard hit Nevada. (See pictures of Las Vegas...
Another reason analysts are optimistic is that the Maoists still have enough popular support. Nayak points out that in parliamentary by-elections for six seats last month, the Maoists won three. Also, they wouldn't want to turn international opinion against them again. "The last few months of Maoists' rule has shown a certain lack of statecraft," says Dixit, "They sought to weaken all institutions of state. Now they're faced with losing face while in government. Prachanda's decision is definitely good for his personal image, though his followers may be nonplussed...