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...history has it been easier or cheaper to start a new kind of company. Possibly a very profitable company. Let's call these start-ups LILOs, for "a little in, a lot out." These are Web-based businesses that cost almost nothing to get off the ground yet can turn into great moneymakers (if you work hard and are patient, but we'll get to that part of the story...
...book The Mirror Effect: How Celebrity Narcissism Is Seducing America. While the average American scores a 15.3 on the Narcissism Personality Inventory, a 40-question test long used by psychologists, celebrities averaged 17.84. Longtime stars and newbies scored similarly, which might lead you to conclude that fame doesn't turn people into narcissists - it just attracts them. The more a person's fame was the unintended by-product of a skill, like playing an instrument, the lower the score. Reality-show participants landed numbers you'd expect only from 2-year-olds and fascist dictators. (Watch Stein interview celebrities...
Local contractor Wayne Mayo, 54, has watched this long slump up close. Like many other people in St. Helens, he used to work in the timber industry, as a lumber broker. But his more recent turn, as a general contractor, brought him face-to-face with an economic force he felt he could influence: illegal immigration. Although St. Helens has a relatively small Hispanic community - some legal, some illegal - the town is just 30 miles (about 50 km) from major population centers like Portland and Beaverton, close enough that out-of-town contractors with crews of underpaid, underdocumented construction workers...
Papademetriou also argues that undocumented workers will play a role in getting the economy on its feet again. They represent, he says, exactly the kind of workforce that employers will turn to at the first blush of recovery. "If you're going to ramp business up quickly, where are you going to get the workers?" he says. Businesses may have new orders coming in, but they're not going to hire permanent workers until they're sure the recession is over...
...point by the end of the year. ("I feel very confident about this.") The fiscal-stimulus program should start to work by this summer. Unemployment will peak in the second quarter of 2010. And economic expansion should begin again in the fall of 2010. "My point is, things can turn pretty quickly," Zandi said, chuckling. "How's that for a happy ending?" After the presentation, he was engulfed in a sort of economic-geek circle at the front of the room. Men from the Department of Commerce, Freddie Mac and a real estate investment fund batted questions around: "Has your...