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...When compiling the "worst case" for stress-testing American banks last winter, policymakers figured the most chilling scenario for unemployment in 2009 was 8.9% - a figure we breezed past in May. From December 2007 to August 2009, the economy jettisoned nearly 7 million jobs, according to the Bureau of Labor Statistics. That's a 5% decrease in the total number of jobs, a drop that hasn't occurred since the end of World War II. The number of long-term unemployed, people who have been out of work for more than 27 weeks, was the highest since the BLS began...
...German government officials were left in the dark over GM's intentions until the very last minute. One government official said he had "no idea" what GM had decided, and union leaders were still claiming GM wanted to keep Opel and Vauxhall. (See the 50 worst cars of all time...
...predicting a global recovery is difficult. "Expectations are that the worst of the recession is over, but who can be sure of that?" says Edward Chow, senior fellow in the Energy and National Security Program at the Center for Strategic and International Studies in Washington. "The global economy is on a sugar high because of the stimulus spending." If the recession lags, oil prices could plummet again, discouraging oil companies from investing in exploration and new drilling and discouraging governments from introducing new alternative-energy programs. (See 10 next-generation green technologies...
...worst business deals...
...take advantage of health-care reform, was taken aback. He looked to his left, adjusted his arm, part nervous twitch, part macho posturing, and shot back at Wilson, "That's not true." And there, for a moment, the nation watched two men, elected to lead, call each other the worst thing in politics - dishonorable deceivers. (See 10 players in health-care reform...