Fri, 30 Jul 2010 04:00:00 -0400

Is Auto Recovery Here To Stay?

President Obama on Friday wants to call attention to the successes of the bailed-out companies by visiting automakers in Michigan. Micheline Maynard, who has covered the industry for more than two decades, discusses whether or not the good news in Detroit will last.

Fri, 30 Jul 2010 00:01:00 -0400

Optimism Revs Up At GM, Chrysler Plants

President Obama visits GM and Chrysler auto plants in Detroit on Friday to call attention to the successes -- so far -- of the bailed-out companies. A White House report says the industry has added 55,000 jobs, GM will stay open during its usual two-week summer shutdown and Chrysler added another production shift.

Thu, 29 Jul 2010 15:10:00 -0400

Budget Crunch Hits Atlantic City Hard

State and local governments have cut 242,000 jobs since the summer of 2008, and that number is expected to grow as many states face massive deficits. Atlantic City is trying to shore up its finances by firing cops and city workers. Nationwide, these layoffs are causing a drag on the economy.

Thu, 29 Jul 2010 14:39:00 -0400

Foreclosures Rise In 3 Of 4 Metro Areas

While it appears foreclosures may have peaked in metropolitan areas that were initially the worst hit, the crisis is now becoming much more widespread.

Thu, 29 Jul 2010 10:22:00 -0400

Mortgage Rates Hit Another Low: 4.54 Percent

Mortgage rates dropped to the lowest level on record for the fifth time in six weeks, making homebuying and refinancing the most attractive in decades for those who can get loans. Freddie Mac says the average rate for 30-year fixed loans this week was 4.54 percent, down from 4.56 last week. That's the lowest since Freddie Mac began tracking rates in 1971.

Thu, 29 Jul 2010 08:31:00 -0400

New Weekly Jobless Claims Decline To 457,000

Initial claims for unemployment benefits fell last week for the third time in four weeks but remain elevated. The Labor Department says first-time claims for unemployment insurance dropped by 11,000 to a seasonally adjusted 457,000. Analysts surveyed by Thomson Reuters had expected a smaller drop.

Thu, 29 Jul 2010 04:00:00 -0400

Bush-Era Tax Cuts Examined

Tax cuts enacted in 2001 and 2003 are to expire in January unless Congress renews some or all of them. The cost of extending them by a decade: nearly $3 trillion. David Wessel, economics editor of The Wall Street Journal, offers his insight.

Wed, 28 Jul 2010 17:40:00 -0400

Many In Gulf On Road To Uncertain Compensation

Many business owners in the Gulf, from plumbers to beauticians, are filing claims with BP. The ultimate decision about compensation is in the hands of administrator Kenneth Feinberg, unless people want to try their luck in court.

Wed, 28 Jul 2010 15:00:00 -0400

Are Public Pension Funds Sustainable?

The payout of pensions is proving financially burdensome to states and localities. So how sustainable are these pensions? To find out, Robert Siegel talks to Susan Urahn, managing director of the Pew Center on the States, who helped produce their report "The Trillion Dollar Gap: Underfunded State Retirement Systems and the Road to Reform." Urahn says states are obligated to pay because it is a state constitutional obligation, and she says, "The likely scenario is taxes will go up to pay the promises they made."

Wed, 28 Jul 2010 08:35:00 -0400

Durable Goods Orders Down 1 Percent In June

Orders to U.S. factories for big-ticket manufactured goods fell broadly in June as the fragile recovery continued to slow. The Commerce Department said demand for durable goods dropped 1 percent -- the second straight monthly decline and the largest drop since August 2009.

Wed, 28 Jul 2010 09:09:00 -0400

Obama Makes Economic Sales Pitch; Who's Buying?

The president has been traveling the country to talk about the economy, but it's far from clear the tour is helping his cause. While the White House says it's not about boosting Obama's approval ratings, critics say the president, like yesterday's rock star, has been touring too long.

Wed, 28 Jul 2010 04:00:00 -0400

In Hard Times, Some Blacks Turn To Hustling

The national unemployment rate is about 9.5 percent, but among African-Americans the figure is nearly 16 percent. So, many African-Americans have turned to the underground economy to make a living.

Tue, 27 Jul 2010 11:10:00 -0400

Consumer Confidence Dips Amid Job Worries

Americans' confidence in the economy has eroded further amid worries about a still-stagnant job market. The Conference Board said its Consumer Confidence Index slipped to 50.4 in July, from the revised 54.3 in June. That was a steeper drop than economists expected. A separate report said home prices rose 1.3 percent in May, but such gains aren't expected to last.

Tue, 27 Jul 2010 10:55:00 -0400

San Francisco Spends $25 Million To Test 'Goldilocks' Parking

A high-tech system will adjust the price at parking meters based on real-time information. The aim: To make prices just right.

Tue, 27 Jul 2010 00:01:00 -0400

College Students Hide Hunger, Homelessness

A growing population of college students is facing hunger and homelessness as tuitions rise and the economy is slow to recover. UCLA has created an Economic Crisis Response Team to identify financially strapped students and help keep them in school.

United Way 211

United Way's 211/First Call For Help is a free and confidential information service ready to direct you to the health and human services you need in Cuyahoga, Geauga and Medina Counties.

Just dial 2-1-1. Professional staff are available to help you 24 hours a day, every day.

More resources

Save the Dream

The American dream of home ownership is disappearing during these times of crisis. In Ohio, rising unemployment, loss of business, and a bleak economic outlook also threaten that dream.

Help is available. Save the Dream provides information and highlights programs that Ohioians can use to help save the dream of owning a home.

More resources

Upcoming Events

ESOP Partners with Area Suburbs to Help Homeowners

Two additional suburbs will hold local intake sessions, in partnership with ESOP (Empowering & Strengthening Ohio’s People), to provide FREE foreclosure prevention counseling to area homeowners. This initiative builds on ESOP’s track record of making its highly successful foreclosure counseling practices more readily available in Cuyahoga County suburbs.  ESOP already provides intakes in South Euclid and Lakewood.

Starting Feb. 4, 2010, trained counselors from ESOP will also set up shop once a week in Bedford Heights and Garfield Heights. Please see below for more detailed information on the time and location of these new intake sessions. Homeowners do not have to be city residents but MUST call or email ESOP to set up an appointment.

Bedford Heights, Every Wednesday at 6 p.m.
Jimmy Dimora Community Center, 5615 Perkins Road, Bedford Heights, OH 44146

Garfield Heights, Every Thursday at 1 p.m.
Word of Righteousness Family Life Center, 13455 Dressler Avenue, Garfield Heights, Ohio 44125

To make an appointment or for more information, please call ESOP at 216-361-0718 or email .

ABOUT ESOP:
ESOP is a HUD-certified housing counseling agency. ESOP’s success stems from partnerships with various lenders and servicers, allowing for easy negotiation of loan modifications. ESOP has been nationally and internationally recognized for its campaigns against predatory lenders and for its success obtaining mortgage resolutions that keep families in their homes.

More events

Funding

Funding for the coverage of economy and jobs topics comes from The Cleveland Foundation; The George Gund Foundation; The Kelvin and Eleanor Smith Foundation; The Nord Family Foundation; The Bruening Foundation; The Community Foundation for Lorain County; and The Charter One Foundation.