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NEWS
Susan Reimer | October 18, 2010
Numbers fly around like bats in the attic when economists try to explain to us why a recession they claim ended in June 2009 feels like it is still hanging on. Economic indicators. Corporate earnings reports. Gross domestic product. The relative strength or weakness of the dollar. Import-export imbalances. Jobless claims. Jobs created. Housing starts. Commercial vacancy rates. Consumer confidence. Savings rates and the percent of our income that goes to paying finance charges. The only number we might actually recognize is the Dow Jones Industrial Average, which climbed above 11,000 last week for the first time in a long while.
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NEWS
By Randi Hogan and Norris P. West | August 25, 2014
Every school should have a Donte Samuel. For more than eight years, Mr. Samuel has created a warm and happy environment at Belmont Elementary in West Baltimore, where excited pupils greet him daily with bright eyes and wide smiles in the middle of their regimented school day. Mr. Samuel is not a teacher or an administrator; he's not a school nurse, social worker or custodian. To the children, he's "coach," and to the principal and teachers at Belmont Elementary, he's a godsend and the key to a better classroom climate for the 355 students and 24 teachers.
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NEWS
March 4, 2013
Here's a real-world reality check regarding the consequences of random, across-the-board, federal spending cuts that began on Friday. My younger daughter is a civilian employee of one of the armed services. Last week, she received her letter of notice to furlough. She was planning to do a full kitchen remodel in her home, but even though the sequester was not a fact as yet, she decided to put off her plans due to her expected loss of income when faced with a one-day-a-week furlough.
NEWS
By Robert B. Reich | November 6, 2013
How to explain this paradox? Starting Nov. 1, more than 47 million Americans lost some or all of their food stamp benefits. House Republicans are pushing for further cuts. If the sequester isn't stopped, everything else poor and working-class Americans depend on will be further squeezed. We're not talking about a small sliver of America here. Half of all children get food stamps at some point during their childhood. Half of all adults get them sometime between ages 18 and 65. Many employers -- including the nation's largest, Walmart -- now pay so little that food stamps are necessary in order to keep food on the family table, and other forms of assistance are required to keep a roof overhead.
ENTERTAINMENT
By Tim Smith | December 20, 2009
T he faltering economy hit Baltimore's arts community hard this year. The cruelest blow came in May, when the Baltimore Opera Company was liquidated, right down to sets and costumes in storage and posters on office walls. Various factions of board, staff and patrons should have come together to find a way to save the historic company, but the odds were formidable. Drops in attendance, contributions and endowment fund values (for those fortunate enough to have endowments) caused many organizations to face staff reductions, pay cuts and furloughs, postponed or canceled events.
NEWS
October 31, 1991
President Bush and his economic advisers maintain that the recession is over, this week citing an upward trend in the gross national product as hard evidence of recovery. Yet, many Americans sense that the recession is not over and that the economy has sunk back down in recent months.Do you believe the recession is over? And do you believe that the economy is better, worse or unchanged in the past six months?Please let us know your opinion by calling SUNDIAL, the $H telephone information service of The Baltimore Sun. The call is local and must be made from a Touch-Tone phone.
NEWS
October 29, 1992
Michael von Clemm, chairman of Merrill Lynch Capital Markets, has some gratuitous advice for George Bush, Bill Clinton and Ross Perot: "Don't win the election." Anticipating a continuing global recession marked by falling asset values and excess production capacity, he sees the next four years as burdensome for government leaders in all the industrial democracies.Their eyes on the White House, all three candidates are paying Mr. von Clemm no heed. Mr. Clinton and Mr. Perot have no hesitation in trashing the economic situation they hope to inherit from President Bush, but they have faith in their proposed remedies even if these remedies contradict one another.
NEWS
April 7, 1991
From: Angela BeltramEllicott CityThis letter is in response to Scott Miller's letter to the editor, ("Beltram: foot in mouth," March 17, The Howard County Sun.)Scott Miller must be the only person in the United States who doesn't know that we are in a recession.R-E-C-E-S-S-I-O-N is defined as "a slowing down of commercial and industrial activity marked by a decrease in employment, profits, production prices and sales."Mr. Miller, let me refresh your memory: Who has been in the White House since 1980?
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | November 30, 2012
Baltimore's economic performance over the last year ranks it 179th among the 300 largest metropolitan economies worldwide, according to a new report that describes the region as "partially recovered" from the last recession. The Brookings Institution's Global MetroMonitor study, to be released today, looked at growth in employment and gross domestic product in metro areas internationally. Only two of the country's large metro areas cracked the top 50 - Houston and San Jose - and just three (Dallas, Knoxville and Pittsburgh)
NEWS
By William G. Durden | September 26, 2011
The U.S. economy is on life support, and all the enacted or proposed treatments, while necessary, are at best short term or palliative. The time has come to build a stronger foundation for our future well-being. Here's the quandary: The markets are being downgraded due to loss of job creation, but how can we suddenly employ tens of millions of workers when there are no new industries created to employ them since the recession a mere three years ago? The current mass-employment industries - transportation, construction, technology, traditional energy and health - are either passé or already have enough workers to do the job, unless we create stimulus-related public works jobs, as President Barack Obama has proposed, that may or may not produce sustained employment.
BUSINESS
By Michael Dresser, The Baltimore Sun | October 16, 2013
Roughly half of Maryland employers will see their unemployment insurance tax drop by about 70 percent next year, the result of the state's rebound from the recession, the governor said Wednesday. After an annual evaluation of the unemployment benefit trust fund, the state will drop rates to the lowest of five possible brackets under Maryland's jobless tax system, Gov. Martin O'Malley announced. This is the second year the rates have fallen. As a result, a top-rated employer with 100 workers that paid $18,700 in 2012 will pay $2,550 in 2014.
SPORTS
By Don Markus and The Baltimore Sun | October 12, 2013
The heavy rain had pretty much stopped late Friday afternoon, but along City Dock in Annapolis, the sailing enthusiasts continued to come by the Buster's Marine merchandise tent. David Schmidtt, who had started going to the United States Sailboat Show when he was 12 with his father, Buster, was not surprised. "This show is amazing," Schmidtt, 35, said as potential customers looked at his stock of Mercury Marine inflatable boats. "I've been to 22 shows this year, and this is by far the most crowded.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | September 23, 2013
Before the recession, Madie Green's home daycare was normally full. As parents lost their jobs and pulled kids out, the 55-year-old District Heights woman spent through her savings to keep up on her mortgage and auto payments. Her business still hasn't recovered to what it once was, and now she's so worried about whether she'll be able to retire that she is expanding into an after-school program for elementary and middle school students. Retirement seems more distant than ever.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | September 20, 2013
Maryland's job base is finally back to the size it was half a decade ago — before the deep recession gouged a big chunk out of it. It's a psychologically important milepost in the long slog toward recovery, one reached as the nation is still climbing out of the hole. But numbers released Friday by the U.S. Department of Labor show the state's job market remains far from normal. About 219,000 Marylanders were out of work and looking for a job in August, 120,000 more than in February 2008, just before the effects of the Great Recession caught up with the state.
ENTERTAINMENT
By Tim Smith, The Baltimore Sun | September 14, 2013
Baltimore Symphony Orchestra musicians ratified a new three-year contract Friday that will include the restoration of salary cuts that were made in the wake of the economic downturn. By the 2015-2016 season, annual base salary for tenured musicians will reach $75,024, an 11 percent increase over the base of $67,600 under the previous contract, which expired Sept. 8. Players will also receive a benefit in the form of increased employer contributions to medical insurance plans and pension plans.
NEWS
By Joe Burris, The Baltimore Sun | August 24, 2013
A growth spurt in community college enrollment during the recession has all but ended, with numbers declining or leveling off this year, according to state officials. Three years ago, two-year institutions saw an enrollment boon at the height of the recession. Community colleges were seen as a cost-effective alternative to pricier four-year schools, and also attracted adults seeking new skill sets in the changing job market. But as the economy has improved, fewer people are enrolling in community colleges.
BUSINESS
By Stephen E. Nordlinger and Stephen E. Nordlinger,Washington Bureau of The Sun | November 11, 1990
WASHINGTON -- In the fall of 1981, 20 top corporate economists issued an economic forecast to the Business Council, composed of top corporate executives, predicting that there would be no recession.In fact, a recession had begun the previous July that was to last until November 1982 and cause the unemployment rate to reach 10.8 percent, the highest since the Great Depression.The council's mistaken forecast underlies the difficulties of pinpointing in what month a recession begins and ends.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | January 23, 2013
Attendance at the National Aquarium's Inner Harbor and Washington venues rose 2.4 percent last year, the first increase since the recession, thanks to an improving economy and a more interactive aquarium experience, CEO John Racanelli said. The attraction drew 1.55 million people last year, including 1.34 million at the Inner Harbor destination, marking the first increase since 2006. During an interview Wednesday at The Baltimore Sun, Racanelli said the more than 30-year-old aquarium is repositioning itself to not only offer entertainment, but also to advocate for cleaner, healthier oceans.
NEWS
By Jules Witcover | August 13, 2013
With Congress in the doldrums of summer recess, our town has inevitably sunk to the game of making political mountains out of molehills. The latest example is disclosure that the campaign manager of Senate Minority Leader Mitch McConnell confided to a political associate, last January no less, that he was "sort of holding my nose for two years" working for Mr. McConnell. He was doing so, he explained, in hope of it being "a big benefit" for a previous employer, Sen. Rand Paul, also of Kentucky, who is said to have 2016 presidential aspirations.
NEWS
August 9, 2013
I find it rather amusing when far left liberals such as Thomas Schaller ( "GOP just can't say yes to Obama," Aug. 7) shout from the rooftops that former President George W. Bush is responsible for the horrendous deficit and economy that poor President Barack Obama inherited. Yet these dishonest liberals fail to mention that the Democrats were in charge of the House and the Senate during the last two years of Mr. Bush's presidency. Since the president neither makes our laws nor control our finances (Congress does)
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