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...This was the fourth straight month with job losses greater than 600,000. In fact, the biggest news in the report may have been the sharp upward revision to January's job losses (originally reported as 598,000) to 741,000, the biggest one-month decline in absolute terms since 1949. Job losses from this recession are now markedly worse than those during the previous two downturns that had competed for the title "worst since the Depression." Nonfarm employment has dropped by 5.1 million, or 3.7%, since its peak in December 2007. In the 1981-82 recession, employment fell...

Author: /time Magazine | Title: Unemployment Rise Shows Recession Far from Over | 4/3/2009 | See Source »

...that the tug of recession. "Our core view is that banks' [stocks] will not bottom until nonperforming [loan] growth decelerates," opined Goldman Sachs analyst Richard Ramsden in a report to clients on Friday. "All of the data points we track in the first quarter point to an acceleration." Banks are expected to report their results for the first few months of the year in the next two weeks. And despite positive statements from bank CEOs in recent weeks, earnings at nearly all of the nation's largest banks will likely have fallen in the first quarter versus one year...

Author: /time Magazine | Title: Tempted to Buy Bank Stocks? Better Think Twice | 4/3/2009 | See Source »

...will come under Panthera's banner, and the hope is that Brazilians will learn to appreciate both the medical care and the conservation work for jaguars. "People are given better schools and better health care, and the connection between the two is made," says Rabinowitz. (See TIME's special report on extinction...

Author: /time Magazine | Title: Getting People to Coexist with Cats | 4/3/2009 | See Source »

Harvard is considering reducing capital spending and projected new debt issuance by as much as 50 percent due to recent endowment losses, according to a credit rating report issued by Moody’s Investors Service on Wednesday.The University has already slowed construction of its Allston expansion, which combined with other campus capital projects would have cost roughly $1 billion a year in capital spending and required Harvard to issue $3 billion in new debt over the next three to four years, according to the report.Planned spending could revert to higher levels “if fundraising results...

Author: By Peter F. Zhu, CRIMSON STAFF WRITER | Title: Capital Spending May Be Slashed | 4/3/2009 | See Source »

...Commission voted to designate the structure as a historical landmark according to the recommendations of a report commissioned 16 months ago. But William B. King, the chair of the commission, said that they did not fully adopt all of the report’s findings—which include strict bans on any changes to the outside facade of the building—because they were too “prescriptive and restrictive...

Author: By Sofia E. Groopman, CRIMSON STAFF WRITER | Title: Lesley Argues With City Over Church | 4/3/2009 | See Source »

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