During the last U.S. recession in 2001, the newly unemployed often gathered to trade horror stories and job-seeking tips at groups like the Five O’Clock Club. During this recession, of course, the newly unemployed swap stories online, particularly on social networks.
As Silicon Valley’s stock-driven wealth machine sputters in the recession, technology start-ups are exploring new ways for employees to tap their holdings.
Well, apparently Americans are still going on vacation.
Priceline this morning posted Q2 revenue of $603.7 million, well ahead of the Street consensus of $575.1 million, with pro forma profits of $2.02 a share.
The economy hasn’t spared many sectors of the economy. But if you have to be in business these days, software isn’t a bad choice.
The typical publicly traded software company is still growing, despite the worst recession in most people’s memory, according to investment bank Software Equity Group.
After a few months of lagging sales, market researcher NPD Group is finally saying the recession caught up with the video games industry.
In recent weeks, some big-name tech execs have said that they think the economy has hit a bottom. On Wednesday and Thursday, some smaller—although still pretty large—software companies reported earnings, and their CEOs were a little less rosy about the end of the recession.
Gawker Media impresario Nick Denton, one of the more vocal Cassandras of media collapse last fall, got a surprise this spring when things turned out to be, well, not so bad.
How has the recession affected entrepreneurship? So far, it’s helped to drive it up.
That’s according to a new study from the Kauffman Foundation, a Kansas City-based organization. The study, out Thursday, found that an average of 320 out of 100,000 adults created a new business each month last year even as the recession took hold, up from 300 out of 100,000 adults in 2007.
One might think that the recession would compel people to file their tax returns earlier. Who couldn’t use the extra cash? But it turns out that Americans have never filed later.
That’s according to a man who knows something about taxes: Brad Smith, CEO of Intuit, which makes the popular TurboTax software. “Technology makes it easier to wait later,” Smith said in a recent interview.
In a recession, budgets are tightened, jobs are cut, and those who remain are expected to do more with less. Given this type of economic reality, it’s surprising to hear of an industry reporting an increase in spending on anything, much less on something as new as social media. Yet that’s exactly what’s occurring. According to a new Forrester Research survey of 145 global interactive marketers in both B2B and B2C companies with more than 250 employees, the use of social media as a marketing tool is on the rise.
For a vivid reminder of the way the Internet–combined with a vicious recession–can destroy a well-established industry, consider today’s news from the collapsing Yellow Pages business.
A year ago, it was hardly unthinkable that a math wizard like financial economist David X. Li, who derived a now-widely used mathematical formula, might someday earn a Nobel Prize. Today, though, in the midst of the biggest financial meltdown since the Great Depression, Li is probably thankful he still has a job in finance at all.
There was a time when the geeks who keep a company’s tech systems running could get by without knowing the finer details of corporate strategy. Well, those days are over. This downturn could mean the end of the sequestered CIO.
Amid a recession that has many families cutting back on their spending, sports teams are trying to find new ways to lure fans to their stadiums and off their couches. One part of the strategy will be on display this weekend at the NBA All-Star game in Phoenix.
When the economy goes south, one name invariably surfaces on the lips of pundits and economists: John Maynard Keynes. That is because the twentieth century’s greatest economist is generally associated with the idea that markets require government intervention in order to function properly. But Keynes’ ideas were not just a prescription for an ailing economy; they were a complete theory of capitalism.
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