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A change of mind (Sunday, 12/30/01)
If you've been expecting that more qualified people will be checking your baggage as part of airport security, you may be inclined to think again now that the U.S. Department of Transportation has modified its highly-publicized rule changes. It's probably good news for the thousands of screeners who would prefer not to lose their jobs, but whether it's good news for the American traveler remains to be seen. Speaking of security, Sam Howe Verhovek writes about updated training methods in the sky marshall program.

There may not be a boom just ahead (Sunday, 12/30/01)
Almost by definition, a new economy doesn't follow old rules. David Leonhardt says that, despite conventional expectations based on common past experience, a boom may not follow the recession this time.

Adjusting to something you've never known (Sunday, 12/30/01)
Anna Blumenthal recounts her own frustrrating work experiences as a recent grad who is too young to remember previous recessions. Given the longest expansion in American history that occurred during the 1990s, there are a large number of young adults who have come of age remembering nothing but good times. Adam Geller has some similar stories. Many older folks are feeling a bit disoriented by this recession too. In their case, it's a matter of reconsidering whether it's wise to bet so much of their retirement on the stock market.

Here's something that's already expanding (Sunday, 12/30/01)
Vivian Marino reports on a new study that finds many employers are trying to make layoff easier by providing more generous severance packages. Meanwhile, Ronald White of the Los Angeles Times reports on the various efforts on the part of many companies that are doing what they can to avoid layoffs in the first place.

What do you get when you cross a Japanese optimist with a dinosaur? (Sunday, 12/30/01)
Something that's REALLY extinct? Well, no, not quite. Ken Belson writes from Tokyo that you can still find an optimist here and there in Japan, but it may take a little searching, given that country's decade-long struggle and the persistence of unpleasant looking numbers.

Time to relax a bit in South Korea? (Sunday, 12/30/01)
Within a relatively few short years, South Korea has advanced from the devastation following the Korean War to the enviable position of one of the world's industrial powers and one of its major economies. That's taken a lot of work from a lot of people who have been in a hurry. Rushing has been a way of life for quite a long time, but some are suggesting that it's time to slow life down a bit and possibly work a little less.

Misinformation from the IRS (Sunday, 12/30/01)
Christopher Newton says that a new report from the General Accounting Office indicates that there's a fairly good chance that you will get inaccurate information when you call the IRS for help, and a good chance that you'll have to wait on the line for quite a while before you receive it.

Performance appraisals that annoy nearly everybody (Sunday, 12/30/01)
Employees and employers alike hate them, and there is widespread belief that they're of no use. So why do they continue? Wayne Tompkins of Louisville's Courier-Journal examines a highly unpopular yearly ritual involving procedures which, like the so-called "lie detector" and other goofy things people feel compelled to use anyway, are often neither statistically reliable nor statistically valid, meaning that they probably lack virtue of any kind and may be capable of significant harm.

Some resolutions you should actually try to keep (Sunday, 12/30/01)
Resolve to get your personal finances under control next year. Here are some suggestions for 2002.

Choosing the right way to say good-bye (Sunday, 12/30/01)
Jan Paschal passes on some suggestions from Etiquette International that may be helpful when you're trying to decide on just the right retirement gift.

Today's NewWork News Web Tip: Global Health Resources (Sunday, 12/30/01)
Global Health Resources provides access to information, data, news, and estimated trends internationally as well as by country around the world. Some features require subscription.

Japan's 2002 outlook (Saturday, 12/29/01)
There appears to be little to be cheerful about as Japan looks forward to the year ahead. Production has fallen to a 14-year low, while Japan's unemployment rate reached yet another record in November. Consumer prices continue to decline, but that's not good news. Currently, deflation is part of Japan's overall economic problem and is making things worse.

Signs of better times approaching in the U.S. (Saturday, 12/29/01)
The world's largest economy is expected to get better in 2002 after a rocky 2001, according to Daniel Sternoff. The Detroit Free Press' Lorene Yue reports that three key statistics released yesterday suggest that the recession has bottomed out. Here's more from Lisi De Bourbon in the Kansas City Star.

Cavallo says it was his fault (Saturday, 12/29/01)
Argentina's former economic minister has accepted blame and apologized for Argentina's economic crisis. Brian Winter reports from Buenos Aires that there has been more violence outside the presidential palace.

EEOC sues Allstate (Saturday, 12/29/01)
Allstate Insurance wants to turn its 15,200 agents into independent contractors rather than employees in order to save on pension and health care costs. Most of the agents who were unwilling to waive their right to sue were over 40 and fired. The EEOC suit alleges age discrimination.

More victims of the Enron debacle (Saturday, 12/29/01)
We've reported on the great number of former Enron workers who have lost most of their retirement savings as well as people who are having difficulty obtaining their agreed-upon severance payments. Now, about 400 of the company's senior employees may not get their deferred compensation.

Borrowing your way out of debt? (Saturday, 12/29/01)
Sometimes bargains seem to be so attractive that you can go broke saving money. Similarly, if you're seriously in debt, you may be tempted to look for a quick solution. But, as Susan Tompor reports, becoming debt free won't be an effortless or painless task, but it can be done. There are plenty of people who are willing to offer help for a fee, but it's important to keep in mind that they're likely to be interested in providing benefit for themselves more than for you.

Grad students move toward organizing (Saturday, 12/29/01)
Graduate students at the University of Pennsylvania have filed authorization cards with the National Labor Relations Board. An election to form a union is likely to be held in the spring. Meanwhile, the AFL-CIO's headquarters building in Washington, D. C. is being used as a temporary jobless center.

Nursing at work (Saturday, 12/29/01)
Pediatricians generally agree that children benefit from nursing during the early months of their lives. Kristine Romero reports that this is becoming an increasingly significant issue for working mothers and employers.

Send a techie to camp (Saturday, 12/29/01)
The Sacramento Bee's Cheryl Miller tells about Recession Camp, an organization of laid-off hi-tech experts.

A year of advice (Saturday, 12/29/01)
The authors of the Job Talk column look back at some of their advice to correspondents during 2001.

Today's NewWork News Web Tip: Center for Migration Studies (Saturday, 12/29/01)
Since 1964, New York's Center for Migration Studies has been a leader in the study of the various facets of human migration, including economic issues.

Bush makes it permanent (Friday, 12/28/01)
President Bush calls his decision to grant China permanent normal trade status yesterday the "final step" in normalizing trade relations. China became a member of the World Trade Organization last month.

Jobless claims up again (Friday, 12/28/01)
First-time claims for unemployment benefits had been on the decline, but the latest weekly numbers show an increase.

Don't help us right now, please; we're busy (Friday, 12/28/01)
Glenn Somerville says that the American economy will improve soon despite failure on the part of Congress to pass a stimulus package, and, in the long-run, things may be better BECAUSE of that failure. In a relatively free and open society, quite a number of things do tend to run themselves. Here's one writer in the Arizona Republic who believes that the stimulus package failure shows that both major parties have simply run out of ideas.

Still angry in Argentina (Friday, 12/28/01)
The previous government's belt-tightening plans for getting a huge debt under control were so unpopular that public anger led to the downfall of the government. Argentina's new interim president is proposing the use of a new currency, but that's making people mad too, and fearful about the return of the inflation of old. The Argentine mess is also causing quite a lot of re-thinking at the International Monetary Fund about how best to conduct rescues.

Back to the drawing board (Friday, 12/28/01)
There is less reason to be enthusiastic about 401(k)s as a principal retirement vehicle, and Christine Dugas of USA Today lists some of the reasons. She also suggests that betting on the home team may not be such a good idea. 'Nuterwerds, diversify your portfolio and don't have too much confidence in your own company's stock. Remember Enron? Speaking of the company that so recently was one of America's largest but which has shrunk down to nearly microscopic levels, columnist L. M. Sixel says that it isn't just the former employees who have watched their retirement nest eggs go up in smoke who are suffering. People who have been expecting to receive agreed upon severance are finding their lives complicated by Enron's bankruptcy.

Look who's had one of the highest growth rates this past year (Friday, 12/28/01)
Yes, Russia's economy has grown by more than 5 percent this year, and that's a lot better than most, even though that's a lower rate than during the previous year. Who'd a thunk it? It may really be that this society with a thousand-year authoritarian history is managing to pull off what many thought impossible: the making of itself into a genuine modern Western-style democratic capitalist nation.

How to get a job with America's largest employer (Friday, 12/28/01)
That's the federal government, incidentally, and here are some suggestions from USA Today.

On owing as much as you make, or more (Friday, 12/28/01)
Jeff Bennett tells about how the young generation of American adults that doesn't remember the previous recession has gotten itself into a terrible fix. Many people spent-and borrowed--like a drunken sailor during the 1990s, and are experiencing the debt hangover now when layoffs are plentiful and jobs are scarce. Speaking of debt, John Gallagher writes about how many Americans are putting the roofs over the heads at risk by borrowing against their home equity. Home mortgage delinquencies are becoming ever more frequent.

U.S. center of gravity continues to shift (Friday, 12/28/01)
Where are the fastest growing states? Look west and south, according to U.S. Census data. Genaro Armas says that the latest numbers confirm that a trend that's been underway for sometime is continuing.

Yahoo and HotJobs close the deal (Friday, 12/28/01)
It's official: HotJobs will become part of Yahoo as the result of a $436 million merger. That leaves CareerBuilder wondering where they stand, but they say that have a contract, and they expect Yahoo to honor it.

Today's NewWork News Web Tip: College Essentials (Friday, 12/28/01)
Yahoo says that its College Essentials is everything you need for college in one place, which may be a slight exaggeration, but, nonetheless, it's a good place to stop, at least momentarily, on your way to college, graduate, or professional school.

Retailing's holiday blues (Thursday, 12/27/01)
Some individuals get depressed during the Christmas season, and, this year, many of those folks are retailers. However, as Monica Summers reports, Wal-Mart executives will have reason to break out the champagne on New Years Eve. Joyce Smith reports on the deep discounts BEFORE Christmas this year. Moreover, once you buy the stuff, retailers want you to keep it. Martha McNeil Hamilton and Dina ElBoghdady tell about the more restrictive return policies this year. Incidentally, while everybody likes a bargain, some economists are giving the big shopping season discounts more than a curious glance because they may be one more indication that deflation could become a problem. Deflation and recession make a bad combination. Japan's economic struggles are exacerbated by the fact that consumers are holding off on spending until prices go down even more, which further slows economic activity, creating a downward spiral.

Argentina prepares for devaluation (Thursday, 12/27/01)
It is widely expected that Argentina is about to break the connection of its peso with the U.S. dollar to which it has been linked on a one-to-one basis for the past decade. Alistair Scrutton has more from Buenos Aires. Moreover, a new currency is about to appear, the Argentino, but it will co-exist along with the peso and the U.S. dollar. Of course, the best-known new currency is the euro, and it will begin circulating in a few days across 12 European union countries. Among other things, it means that several very familiar currencies will be consigned to history, and who's feeling sentimental about that? Tourists, maybe, but apparently not the French and not the Dutch.

Where to look if you want to make economic predictions (Thursday, 12/27/01)
The answer to questions about when the U.S. economy will emerge from recession may not be found in the stars or tea leaves, but many experts are looking in some nonobvious places. Here's more on the many flavors of economic forecasting from George Hater of USA Today.

The big cast-a-way (Thursday, 12/27/01)
The U.S. economy shed a million jobs during 2001, which amounts to the highest rate of job loss in nine years.

Time to look at labor market trends (Thursday, 12/27/01)
Diane Stafford suggests an examination of the latest Bureau of Labor Statistics' guestimates of what's likely to be hot and what not over the next few years. The noted Kansas City Star columnist presents some highlights.

Why Japan's local economies are hurting (Thursday, 12/27/01)
Localities, particularly those isolated from the big cities, are very much dependent on public works spending, and that's been cut, according to Tokyo's Asahi Shimbun.

Final exam? (Thursday, 12/27/01)
Robert Pierre says that Wisconsin's experimental welfare reform program is being severely tested by a recession that puts jobs out of reach of former welfare recipients, leaving them stranded.

Lighting up in D. C. (Thursday, 12/27/01)
If you're a smoker and work for a federal government agency, you may or may not be comfortable while you're puffing. However, Barbara J. Saffir reports that millions of dollars have been spent on special smoking shelters.

The conventional business uniform still helps (Thursday, 12/27/01)
A new study finds that wearing a suit is likely to help your career if you're in sales.

Summers boosts Harvard's econ department (Thursday, 12/27/01)
There was a time when you could safely assume that Harvard was at least near the top in everything academic, but, during recent decades, there has been a lot of competition from other world-class universities with the wherewithal to attract top scholars and top students. Michael Steinberger reports that former Treasury Secretary Larry Summers' appointment as Harvard's president has helped increase the status of the university's department of economics.

Today's NewWork News Web Tip: Economists at Harvard (Thursday, 12/27/01)
Here are some of the leading economists at Harvard, going back to the 1830s.

Hoping to create something out of mostly thin air (Wednesday, 12/26/01)
Afghanistan's people may be its only viable economic resource at the moment, but an important one. With so much devastation for so long, though, the successful building of a viable economy will be a towering challenge, one in which the U.S. and much of the rest of the world certainly have an important stake. Kevin Sullivan reports on what will be needed if Afghanistan is to become part of the world community free of the kinds of malignancies that can threaten civilization. Next door, Pakistan looks good by comparison, but if it were next to nearly any country other than Afghanistan at the moment, it wouldn't look so good. Their political situation is shaky, war with India looks increasingly likely, keeping in mind that both Pakistan and India have nuclear weapons, and the Pakistani economy certainly isn't vigorous or providing a sense of security or comfort to most of the nation's citizens. Also, at almost precisely the worst time, the recession in the U.S. is producing fallout there as well. Paul Blustein reports for the Washington Post from Lahore on U.S.-predipitated layoffs in the textile industry.

Details of rescue plan to be revealed (Wednesday, 12/26/01)
Argentina's interim president has suspended payments on the country's huge debt, leaving to the imagination whether the debt will ever be paid. Simon Gardner reports from Buenos Aires that details are expected today on what else is planned as part of the effort to slow Argentina's economic tailspin.

Congress gets a raise (Wednesday, 12/26/01)
Members of Congress have received their third pay raise in four years. There is disagreement on the relatively adequacy or excessiveness of the amount, but more agreement on how it happened, according to Nancy Benac in Washington, who implies that a lot of people in D. C. are holding their noses.

Russian economy slows a bit (Wednesday, 12/26/01)
The global slowdown is reflected in Russia's economic growth which has dipped this year compared to last.

It's cold out there (Wednesday, 12/26/01)
Hiring freezes nearly everywhere are putting the chill on the job search efforts of people who expect to graduate soon.

Hispanics greatly underrepresented on governing boards (Wednesday, 12/26/01)
It appears that African Americans no longer make up America's largest minority. Hispanics have passed them by with about 12.5 percent of the U.S. population. However, a new study finds that fewer than 2 percent of the members of Fortune 1,000 company boards are Hispanics. Of course, all minorities are underrepresented on corporate boards, which still tend to be dominated by white males.

Will it turn out to be a mild recession? (Wednesday, 12/26/01)
We don't know either, but David Francis has been paying attention to what many economists are saying, and finds that many whose opinions we have a right to respect don't expect a real grinder. There are positive signs, they say.

United loses bias suit (Wednesday, 12/26/01)
A former ramp supervisor at United Airlines will be awarded $55,000. She says she was fired because she's a woman.

Those currency displays at the British Museum may include some new coins and notes soon (Wednesday, 12/26/01)
A lot of very familiar, nearly ubiquitous currencies are about to slip into history. Economic writer Robert Samuelson has been out getting some souvenirs.

Smaller year-end bonuses (Wednesday, 12/26/01)
The size of the economy is influenced not only by desirable or positive economic exchanges. For instance, if there is more cancer or if the incidence of crime increases, the increased costs associated with these problems will be reflected in an increased gross domestic product. In addition, some sectors are somewhat more insulated from the effects of a general recession. Police and fire department personnel may be somewhat less likely to be laid off than manufacturing workers, for instance. Similarly, overall legal activity doesn't necessarily slow in proportion to a slowdown in industrial production. People sue each other during bad times as well as good, and lawyers will continue working. However, the economic insulation isn't complete, as Jonathan Glater reports, and this year, law firms are handing out smaller bonus checks at the end of the year.

Staying in touch (Wednesday, 12/26/01)
Susan Stellin says that it's easier to maintain contact with former co-workers now because of the Internet.

Today's NewWork News Web Tip: From Domesticity to Modernity (Wednesday, 12/26/01)
From Domesticity to Modernity is Cornell University's exhibit on home economics' role in bringing science to the American farm home and women to higher education and a variety of career paths over the early decades of the 20th century.

Default! (Monday, 12/24/01)
At first, reports were that the new interim President of Argentina had suspended payments on his country's huge foreign debt. Now, the New York Times is reporting that the largest sovereign default in history has been declared. Larry Rohter reports that hunger persists in Latin America's third-largest economy, even though food riots have ended. Not so many decades ago, Argentina's economy was developing ahead of that of the United States with a higher standard of living. Not only that, Argentina has LOTS of natural and human resources, as well as a favorable climate. Moreover, population density is not crippling as in many of the world's economically-troubled countries. So, what in hell is going on? How can a country like this find itself in such bad shape?

Waiting for January (Monday, 12/24/01)
Whether efforts to develop a stimulus bill resume after the first of the year depends on how the economy looks when Congress reconvenes, according to Senator John Breaux. A leading economist from the Conference Board says signs are that additional stimulus may not be needed, but Jerry Jasinowski of the National Association of Manufacturers says forces influencing the American economy are working at cross-purposes to some extent.

The high cost of putting roofs over heads (Monday, 12/24/01)
In the largest, most powerful economy in the history of the world, many people don't make enough to afford housing. Here are some details from a study conducted by the National Housing Conference.

The euro creeps into Northern Ireland (Monday, 12/24/01)
The euro may reflect a higher degree of economic and, thus, political integration among the 12 nations involved, but whether it eventually leads to a United Ireland remains to be seen. Shawn Pogatchnik reports from Northern Ireland.

HotJobs intends to sell itself, one way or the other (Monday, 12/24/01)
The major online recruitment organization will allow itself to be acquired by Yahoo unless TMP comes up with a better offer.

Job cuts at Mitsubishi (Monday, 12/24/01)
Mitsubishi Heavy Industries intends to cut 6,000 jobs by 2006.

A valuable new skill for the new economy (Monday, 12/24/01)
Benjamin Greenberg writes from Mexico City that fluency in Spanish could help your career from now on. More people in the world speak Spanish than any of the thousands of languages except English, Chinese, and Hindi. Moreover, the Latin American economies are becoming increasingly significant, and some regions of the U.S. are becoming essentially bilingual.

The cost of health care could make you feel sick (Monday, 12/24/01)
Health care costs are on the rise again, and you can expect to pay more yourself if you're an employee. Here's more from Mary Lee Corrado of the American Society of Employers.

Hiring household help can seem like a full-time job (Monday, 12/24/01)
Ronald Lipman tells a correspondent that it's necessary to pay attention to a lot of details when hiring help for around the house. Things have gotten VERY complicated.

More about shoes in the news (Monday, 12/24/01)
For obvious reasons, the general press is filled with stories today about the "shoe bomber." David Sharp reports that few shoes are being manufactured in the United States anymore, so there aren't many shoe-related jobs in the U.S. either. A week ago, would you have expected shoes to be big news item before Christmas?

China could use some improvement in working conditions (Monday, 12/24/01)
Elaine Kurtenbach reports from Longgang, China about inhumane conditions in many Chinese factories and efforts on the part of workers to make things better.

Today's NewWork News Web Tip: Salary Wizard (Monday, 12/24/01)
This Salary Wizard can help you obtain the latest salary information by occupation and region of the country.

Interim president in Argentina (Sunday, 12/23/01)
The Peronist Party of Argentina apparently thinks that Adolfo Rodriguez Saa is the "fire department," and he has a very big "blaze" to put out. He will be interim president until elections are held in March, and his task will be nothing less than to bring Argentina's crushing economic problems and political crisis under control. President Rodriguez has announced the suspension of foreign debt payments, but emphasizes that the nation's huge foreign debt is not being renounced or abandoned, so the country should not be considered in default. Instead, it needs some breathing space. Who will have to eat the costs of devaluation of the Argentine currency if...er, when...it comes? The New York Times' Louis Uchitelle has some thoughts about this question. The Argentine currency has been linked to the U.S. currency for ten years, which brought earlier high levels of inflation under control, but that linkage isn't working anymore because of vast differences between the two economies in terms of efficiency.

In the eye of the beholder? (Sunday, 12/23/01)
Many forecasters are seeing recovery ahead, but Steven Pearlstein says that the signs really aren't as clear as some people are claiming.

New job-share plan at Sanyo (Sunday, 12/23/01)
Agreement has been reached between Sanyo Electric in Japan and its union on a plan by which layoffs will be averted through the use of job sharing. It's a means by which workers will share the pain of reduced work hours arising from reduced labor needs.

Trafficking in children (Sunday, 12/23/01)
One aspect of the new economy looks remarkably similar to the old economy, except, given increasing globalization and the size of the world population, the problem may be more general now and affecting more people, but with novel variations. James Brooke writes about the sexual exploitation of children, while the U.S. Immigration and Naturalization Service suspends processing of adoptions from Cambodia following concerns about the selling of bought or stolen children to Americans.

UMW members ratify new five-year contract (Sunday, 12/23/01)
The United Mine Workers' members have ratified a new contract with the Bituminous Coal Operations Association with a 60 percent vote of approval.

It's good to start saving and start working at the same time (Sunday, 12/23/01)
Eric Tyson advises a correspondent who is just starting job one to start making long-term financial plans, and that should also mean to start saving. Further, for this individual, as well as nearly everybody else, here are some good New Year's financial resolutions. Finally, Chris Serres writes about how little fun it is to do family money talk, even during good times. But, during bad times, it becomes even more essential.

Dramatic career change (Sunday, 12/23/01)
Penny Sorensen used to be a soldier. Now, she's becoming a nun. She's also a nurse. Here's more from today's Minneapolis Star Tribune.

Today's NewWork News Web Tip: Jobs in State Government (Sunday, 12/23/01)
Jobs in State Government is what it sounds like. In addition to information, and so on, the site also provides access to other relevant sites in a number of states.

What's next for Argentina? (Saturday, 12/22/01)
Brian Winter writes that economists expect a very rough month ahead for Latin America's third-largest economy, and things may get worse after that. For one thing, the largest sovereign default in history that the de la Rua government was trying to prevent is likely to happen now that political and economic chaos are bouncing off of and reinforcing each other. Clifford Krauss says that, while Domingo Cavallo once seemed like a miracle worker, there are no miracles this time. Argentina's next government--in all likelihood to come from the Peronist Party--will find itself presiding over an historic mess and, given the advice coming from the U.S. and elsewhere today, will still need to find a way of implementing the reforms that have proved so politically unpopular that they brought down a president if the country is to obtain outside help. Joseph Kahn says that the Argentine meltdown is calling into question the effectiveness of previous help provided by the International Monetary Fund, as well as its polities as represented elsewhere. The U.S. government is saying that Argentina's mess doesn't seem to be contagious. Nonetheless, Brazil and other neighboring countries throughout the region certainly have been tracking events and wondering why a country so rich in resources finds itself in such a frustrating situation. Clifford Krauss is in Buenos Aires and may be able to cast some light on that question.

The wasting of Indonesia's natural resources (Saturday, 12/22/01)
A report from the International Crisis Group says that the plundering and illegal exploitation of Indonesia's natural resources is escalating out of control and can be expected to have profound social and political implications if not dealt with effectively.

Why Christmas is a popular time for laying off workers (Saturday, 12/22/01)
"Here's your pink slip. Have a nice holiday." Max Jarman of the Arizona Republic explains why 'tis the season of layoffs.

Last-minute action to deal with America's shortage of nurses (Saturday, 12/22/01)
Just before heading home for the holidays, members of both the House and Senate passed bills intending to respond to what is becoming a critically important shortage of nurses in the United States. A new law is highly likely early next year, according to Juliet Eilperin of the Washington Post.

New legislation affecting railroad retirement fund (Saturday, 12/22/01)
In addition to other features, legislation signed by President Bush will allow railroad retirement funds to be invested in stocks and bonds for the first time.

So, let's settle this once and for all: Is the U.S. economy poised for recovery or not? (Saturday, 12/22/01)
Well, yes and no. Maybe. While some indicators strongly suggest that the worst is over, and, by historical standards, the worst so far hasn't been very bad, there may be more hassles and hurdles ahead, according to Daniel Altman of the New York Times. Business still aren't spending, and consumer spending is down , but not as much as many people had expected. Moreover, despite everything, consumers remain fairly optimistic about the future.

Call center work gets more interesting (Saturday, 12/22/01)
Turnover rates may be reduced in tech call centers now that the work is getting more varied.

Today's NewWork News Web Tip: CIA Factbook: Argentina (Saturday, 12/22/01)
Given Argentina's size and influence plus the economic and political problems it's having right now, it's probably a good time to reacquaint ourselves with the country. Here's the CIA Factbook's overview of Argentina.

Meltdown in Argentina (Friday, 12/21/01)
Anyone who doubts the inherent relationship between economics and politics need only take a look at what is happening in Argentina. But, of course, "economics" and "politics" are only different abstractions representing different aspects of the same highly complex social system. Human beings are capable of thinking of only so many things at a time. James Cox and Sibylla Brodzinsky report that Argentina's President de la Rua has resigned following the resignation shortly before of his entire cabinet. His government had been trying to implement a painful austerity program in an attempt to prevent just the sort of economic collapse that may now be underway to accompany the political collapse. Those who remember the weirdness of Juan and Eva Peron's rule during years past may be a bit more than curious to know that the Peronist Party is likely to take power now, according to Guido Nejamkis and Cesar Illiano in Buenos Aires. May we all live in interesting times. The rest of the world is watching closely, and generally seems to feel that this is not a good time to pour money into the country, and that includes the United States.

Congress gives up and goes home (Friday, 12/21/01)
While succeeding on some fronts, Congress has failed to reach agreement on a bill to stimulate the economy and assist those most directly affected by the current recession. William Welch of USA Today lists four reasons for the failure, and Richard Stevenson says both parties are blaming each other.

But, in their heart of hearts when not in front of television cameras, do the major Congressional leaders really regard this as a failure? To say that they do assumes that they've really been intending to reach agreement in the first place, given what they've been saying publicly, which might be at least slightly disingenuous. There's certainly been no consensus, even in Congress and surely among economists, that the bill that came closest to being passed would really stimulate the economy all that much, despite what everybody has been calling it. Even if it had that capability, it's probably too late to do much good, and, besides, the economy may not need governmental stimulus anyway.

Will they take it all up again next year? Probably, but the contest so far really has been about the long-term agendas of both parties. The Republicans want to cut taxes in order to shift things more in the direction of the private sector, while the Democrats want to spend more with the hope of redistributing privilege a bit. What else is new, and why should this be called a stimulus package to help the American economy out of the current recession? If it's a package, perhaps there should be more truth in packaging.

Incidentally, a tremendous amount of additional money already has been made available to consumers and businesses because of low oil prices, and why is that? Basically, it's because Russia has decided to stick its finger in the eye of the Middle Eastern oil producers by exporting enough oil to keep prices low, which, in the long-run, will weaken the influence of the Arab states in the West, making the U.S. and Europe less vulnerable if, for instance, a Taliban-like government should manage to gain control in Saudi Arabia. You can be sure when Russian President Putin visited President Bush at his ranch in Texas that they talked about something other than the various species of cactus.

Why does Russia want to do the West favors? Basically, a new Russia that is struggling to develop an increasingly viable democratic and capitalist society has little alternative but to try to align itself with Europe and the U.S. They have China to their east and a lot of essentially hostile Islamic states to their south.

So, with the help of Russian President Putin, who, in effect, has given Americans a tax cut, the U.S. economy will surely recover without any help from Congress, which will be increasingly preoccupied with next fall's election anyway. But when? Well, that's the 64-cent question that has been on the mind of columnist L. M. Sixel, who also reports on joblessness close to home.

A turnaround for contract workers (Friday, 12/21/01)
But, it's a turn in the wrong direction. Contract workers are the first to go during a downturn, according to Dawn Gilbertson. Just a short time ago, businesses were scrambling to find them. Now, it's a different kind of scramble.

Calculating payment (Friday, 12/21/01)
While it is not possible to calculate the value of a human life, it is possible, at least in principle, to estimate the loss of career earnings, and so on, resulting from a death. A formula estimates that the families of victims of the September 11 attack are likely to receive an average of $1.6 million from the federal government, tax free.

Income gap on the Korean peninsula (Friday, 12/21/01)
There are few places in the world where two countries sharing a common border contrast so greatly in terms of economic well-being, and the income gap between North and South Koreans has been widening.

It may be safe to go to work again (Friday, 12/21/01)
Violent crime has been declining overall in American society, and research from the Bureau of Justice Statistics indicates that the trend also applies in the American workplace.

A major bank allows illegal immigrants to open bank accounts (Friday, 12/21/01)
Edward Hegstrom writes that MetroBank in Houston will allow Mexicans to open checking accounts without the ordinary identification.

Bush steps in to prevent a strike at United Airlines (Friday, 12/21/01)
Given everything else that's been going on, including the struggle of the American airline industry, a strike that shuts down a major airline during the holiday travel season seems unacceptable to the President. He's formed a board to help United and its mechanics reach agreement over the next sixty days, and that means no strike, at least for a while.

Today's NewWork News Web Tip: American Arbitration Association (Friday, 12/21/01)
For seventy-five years, the American Arbitration Association, a nonprofit organization, has been offering help as well as training in the use of mediation, arbitration, and other forms of alternative dispute resolution.

DOA: the opposite of stimulating (Thursday, 12/20/01)
Even though the House of Representatives has passed a stimulus bill which contains a combination of tax cuts and assistance for the unemployed, it appears that there will be no new legislation intending to stimulate the recessionary American economy, at least at this time. Richard Stevenson reports that Senate Majority Leader Daschle has said that the stimulus package is dead for this year, which probably means it's dead for good, and Senate Republicans don't seem to disagree. Steven Pearlstein has been talking to some experts who believe the failure to enact a stimulus package will make a difference in that the recovery that seems to be coming anyway may be a bit more sluggish.

However, if the economic numbers continue to look good after the first of the year, this, combined with the fact that 2002 is an election year, there will be little chance that the Congress will take up the task of producing a stimulus package again next year, and many experts seem to think that this will turn out to be a blessing. In fact, there is reason to believe that some Republicans as well as some Democrats in the Congress have been hoping to find a way to prevent a stimulus plan from getting through the Congress while, at the same time, avoiding the appearance of insensitivity to the plight of Americans directly affected by the recession and also finding a way to pin failure on the opposing party. Both would like to have it as an issue in the 2002 campaign which will determine which party will control the Congress until after the 2004 presidential election. The Senate also has given up on new farm legislation this year as well, so, while that WILL be taken up again after the first of the year, expect it to be driven mostly by election-year politics.

State of siege in Argentina (Thursday, 12/20/01)
The rioting over government austerity measures has been escalating. The toll so far this morning is 16 dead and at least 150 injured. Here's more on the violence in Argentina from USA Today. Simon Gardner reports from Buenos Aires that Argentina's economic minister and the rest of the cabinet have resigned.

Tyson Foods indicted (Thursday, 12/20/01)
The largest meat processor in the United States stands accused of conspiring to smuggle illegal immigrants into the country to work in Tyson processing plants.

New action from the Bank of Japan (Thursday, 12/20/01)
For all practical purposes, short-term interest rates are already zero, but the Bank of Japan is doing more to push more money into the Japanese economy with the hope of heading off increasingly broad economic decline relating to a huge debt problem and deflation.

First-time jobless claims decline again (Thursday, 12/20/01)
The number of those persons applying for unemployment benefits for the first time declined for the third week in a row, surprising many experts, but also reinforcing the notion that the worst of the latest American recession may already be in the past, and suggesting that the first recession in ten years is likely to be one of the most mild since the end of the Second World War.

Delta pilots agree to take time off (Thursday, 12/20/01)
As part of an effort to help their company apply a tourniquet to slow the financial hemorrhaging, pilots at Delta Air Lines have agreed to a plan whereby they would take a month off at reduced pay.

Protecting Americans from themselves (Thursday, 12/20/01)
The Social Security program started in the first place because many felt that it was necessary to force Americans to save for their late years. Hal Varian points out that Social Security benefits are insufficient to support a very comfortable retirement, and that it's always been perfectly legal for people to save more along the way. Still, many end up with little more than their Social Security checks to live on once their work lives are over. However, many of those who have been making additional investments in their retirement have been putting too many of their eggs in one basket, thus increasing their vulnerability to loss. David Francis says that following the Enron debacle and similar experiences of people working in other companies that have fallen on hard times, a proposed law would prevent people from investing their retirement funds too heavily in their own company's stock.

Democrats win one in court (Thursday, 12/20/01)
Documents that apparently show how Democrats exchanged significant campaign control for large union contributions will not be released, a federal judge has decided.

Those who were left behind during the boom of the '90s (Thursday, 12/20/01)
Genardo Armas writes about analyses of Census data showing the persistence of poverty during the 1990s and where it was concentrated.

Today's NewWork News Web Tip: Duke Occupational & Environmental Medicine (Thursday, 12/20/01)
The Duke University Medical School has a division that specializes in occupational and environmental medicine, and this is its web site.

Big riots in Argentina (Wednesday, 12/19/01)
Argentina's government is trying to attract IMF assistance and avoid default through the imposition of painful austerity measures which have set off some of the worst rioting in the country in more than ten years. Here's more from Alistair Scrutton in Buenos Aires.

Leading indicators up again (Wednesday, 12/19/01)
The Conference Board's index of leading economic indicators rose for the second month in a row, suggesting that economic improvement is coming within a few months, despite growing public concerns about the U.S. economy, as well as an apparent decline in the personal finances of Americans, according to polls conducted by ABC News. John Christoffersen tells about how continuing layoffs are limiting whatever optimism the public might otherwise be experiencing, as well as that of some experts. Here are some: Motorola will cut another 9,400 jobs, while General Electric will have cut a total of 22,000 jobs during 2001. Longtime data storage company, Iomega, will cut about 10 percent of its workforce in North America, although that amounts to only 80 jobs in the relatively small company. DaimlerChrysler is cutting 6,000 jobs as well, but they will be from the company's operations in Germany.

Apparent impasse in Congress (Wednesday, 12/19/01)
Richard Stevenson of the New York Times reports that talks over a stimulus plan broke down last night on the issue of health benefits for the unemployed, with Republicans threatening to present a plan of their own. The President, who, at one point, seemed to be saying that agreement had been reached, is now making a last-minute effort to push the sides together and get a deal before the reindeer fly.

Bigger isn't necessarily better, or faster (Wednesday, 12/19/01)
Joyce Rosenberg writes that economists expect America's small businesses to recover faster than its large ones next year, or whenever recover comes.

Beginning the long, arduous task of Afghan reconstruction (Wednesday, 12/19/01)
Afghanistan has been crushed by American bombing and 20 years of war before that, but, at least, its free of the Taliban. What it needs now is simply...everything. It needs infrastructure, institutions, and lots of economic assistance. Steven Lee Myers reports that the American military has been carrying in quite a lot of dollars already.

IMF downgrades growth forecast (Wednesday, 12/19/01)
The International Monetary Fund expects the slowest global economic growth in a decade.

Ford settles discrimination cases (Wednesday, 12/19/01)
Ford Motor Company will pay $10.5 million to settle age and gender class-action suits without admitting wrong-doing.

Giving up on Japan? (Wednesday, 12/19/01)
The past decade has been discouraging for the world's still-second-largest economy, which is in its fourth recession during the period. Japan's fabled "lifetime employment" policy has been consigned mostly to the history books, unemployment is up to record levels, and many regard the country's political leadership as lacking the courage and commitment to institute the kinds of reforms that seem necessary to resuscitate Japan's once stunningly impressive economy. Now, there is another fear: that capital is about to take flight and seek opportunities elsewhere.

A major change may be coming to U.S. farm policy (Wednesday, 12/19/01)
Laurent Belsie of the Christian Science Monitor says that very different farm legislation may be on its way that could represent a significant shift, not only in helping many U.S. farmers to stay in business, but also with respect to the kinds of activities that would be encouraged through the use of federally-controlled incentives. Philip Brasher writes that Congressional Republicans deny that they are stalling.

Instant grim picture (Wednesday, 12/19/01)
In an age when some digital camcorders contain a still photo feature plus built-in printer, the once-revolutionary romance of Polaroid's chemically-based "instant photography" has lost a lot of its attraction, as well as a lot of its customers. Polaroid, once one of the hottest stocks in the U.S., sought bankruptcy protection in October. But, as Tim McLaughlin reports, the company's chairman received almost twice the bonus pay this year as last.

Enron retirees report to Congress (Wednesday, 12/19/01)
Retirees and investors who lost their savings with the collapse of Enron stock provided testimony to a Senate committee yesterday. Columnist Jerry Heaster has been thinking about what the Enron debacle says about trust.

New York City to get billions in additional assistance (Wednesday, 12/19/01)
The House and Senate have agreed on a plan for providing another $8.2 billion in emergency assistance for the Big City.

Today's NewWork News Web Tip: Post-Keynesian Thought (Wednesday, 12/19/01)
PKT was founded by people at the University of Colorado who apparently believe that economic history can be divided into BK (before Keynes) and AK (after Keynes). Here's their Post-Keynesian Thought site that encourages discussion among interested academics, officials who can influence policy, and others.

Moderate Dems may bring the sides together (Tuesday, 12/18/01)
Sometimes the Republicans who are most like Democrats or the Democrats who are most like Republicans can bring others together. In this case, according to Curt Anderson, it may be the moderate Democrats who break the deadlock and make a stimulus package finally happen.

Riot in Australia (Tuesday, 12/18/01)
Australia has been holding migrants in detention camps in the Outback, a practice which has been controversial. Belinda Goldsmith reports from Canberra that a riot has resulted in the burning of as many as 15 buildings at the Woomera camp, the largest and also the most isolated. Violence also continues to break out now and then in Argentina as a result of widespread opposition to the government's plan to cut governmental spending by almost 20 percent in an effort to manage the country's huge debt and avoid default.

Downturn is helping to fill shelters (Tuesday, 12/18/01)
Pam Belluck reports that the nation's homeless shelters are suddenly being flooded with people who need a roof over their heads, including persons who are used to being employed and who never thought they'd find themselves in this situation. Meanwhile, Britain would like the United States to step up efforts to alleviate poverty worldwide, if not for altruistic reasons, certainly as part of a long-term geopolitical strategy with enlightened self-interest in mind.

Not quite enough fun (Tuesday, 12/18/01)
Looking for a job right now can be a demoralizing experience, writes Adam Geller. Given the ten-year expansion, the longest in all of Ameican history, there is a whole generation of young Americans who have never known anything other than an expanding economy, and many are shocked to find that the statistics published in the newspapers each day are reflected in their personal situations. Columnist Diane Stafford says that, while most people are taking time off to celebrate during the holiday season, you could be taking advantage of the situation and continuing your job search. Ho, ho, ho.

More women on boards (Tuesday, 12/18/01)
Progress has been fairly slow, but there are more and more women serving on the boards of America's largest corporations, and that trend is expected to continue, according to Jilian Mincer.

Wal-Mart settles suits (Tuesday, 12/18/01)
Wal-Mart will pay $6.8 million and change the way it hires employees to settle more than a dozen job discrimination lawsuits filed against the company in 11 states.

Many churches not doing well enough to do enough good (Tuesday, 12/18/01)
Rachell Zoll tells how American churches are being affected by the first recession in a decade.

A very successful businessman who doesn't want his employees to work too much (Tuesday, 12/18/01)
Tom McMakin had a lot to do with making Great Harvest into a leader in its field, and he thinks that maintaining a healthy balance between work and life has been key. The whole point is that business and work are supposed to serve lives, he says, not the other way around. Silia J. A. Talvi of the Christian Science Monitor has more about his ideas as well as some findings from new research conducted by the Families and Work Institute.

Today's NewWork News Web Tip: Women Watch (Tuesday, 12/18/01)
Women Watch is the "UN Internet gateway to the Advancement and Empowerment of Women," in the words of the United Nations, and that about says it.

Daschle says the odds stand at 50/50. Republicans say, "Wanna bet?" (Monday, 12/17/01)
Congressional Democrats and Republicans may or may not be near to a deal on a stimulus bill, but they do seem to agree that it's time to assign blame to each other. Even when the house is on fire, partisans can be expected to be partisans saying familiar things, rather than calling the fire department. Richard Stevenson explains the reasons we can expect Democrats and Republicans in Congress to respond in slow motion. Meanwhile, David Leonhardt wonders if the prosperity of the 1990s represents something permanent or whether it came by simply borrowing against the future. One of our favorite columnists, the Kansas City Star's Jerry Heaster, lists the economic reports that are due out this week. The biggy comes on Wednesday, he says. Can you guess which one that is?

Europe's economic integration still in its early stages (Monday, 12/17/01)
Edmund Andrews is in Frankfurt and reports that, even though a dozen European countries will soon be circulating the same currency, don't expect to pay a consistent price for the same product in different regions.

The Times looks at some major world economies (Monday, 12/17/01)
What many claim is the world's greatest newspaper--and we won't argue--contains several articles today which look at how things are going in some of the major economic hot spots, as well as some spots that could stand to be hotter. South Korea expects things to be better there than in many other countries which are either in recession or affected by other people's recessions. Don Kirk writes from Seoul that many leaders, both in the government and in major companies, seem to be determined to reverse many of the reforms imposed on the country a few years ago in exchange for IMF help. James Brooke writes about the lack of political will in Japan that is preventing the world's second-largest economy from becoming fully awake and lucid again. In North America, both Mexico and Canada are being affected by what is happening with the U.S. economy, as usual, as Argentina's neighbors worry about catching that country's worsening economic flu. Louis Uchitelle writes that, while globalization continues, it is less under the control of the United States. Many of Asia's people hope to benefit from the globalization process, according to Wayne Arnold, but rural poverty hasn't eased in many regions.

It will be a while before Afghanistan becomes a leading world economy (Monday, 12/17/01)
Actually, there was a time within the memory of many people when Afghanistan was seen as one of the world's up-and-comers, but that was before one superpower attempted to take it over (the old Soviet Union), before another abandoned it (the United States), before the rubble was left to the warlords to fight over, and before one of recent history's craziest regimes, brewed mostly in other countries, managed to hijack the country, destroy whatever institutional structure and infrastructure remained, and abuse the Afghan people terribly. Now, at least, after bombing the piles of rubble already in place, the U.S. and some indigenous but not necessarily trustworthy groups have managed to exterminate the crazies in Afghanistan, at least politically. What now? James Cox of USA Today says that bleeding Afghanistan will require building from the ground up, and it will be a long, painful process requiring lots of outside help. Will the U.S. pick up and go home again this time? Many officials are saying "no," but we'll all see, won't we.

Many former Enron employees may secretly be throwing their backs out trying to kick themselves in the...well, you know (Monday, 12/17/01)
If people want to put all their eggs in one basket, should they be prevented from doing so by law? Shannon Buggs of the Houston Chronicle tells about efforts in Congress to protect people from themselves following the Enron fiasco. Of course, many of the former employees who lost their retirement savings with the collapse of Enron stock are saying that they were misled by company executives. Incidentally, if you're planning to take advantage of the new law affecting what you can contribute to your 401(k), you may be able to do so as soon as the law kicks in on the first of the year, but, then again, maybe you won't. Teresa Dixon Murray explains why.

Reflections on 25 years of financial doings (Monday, 12/17/01)
Scott Burns has spent the past quarter century as a personal finance columnist and has been thinking about what has changed and what hasn't. Diana McCabe also writes about personal finance for the Orange County Register and suggests that, while some people can only close the barn door now that the horse is gone, there is always next time. How can you prepare for the next recession?

World headquarters of "limousine liberals?" (Monday, 12/17/01)
Critics, including many of Harvard's alumni, are saying that if you're toward the bottom of America's income hierarchy and want to hear somebody talk about how much they feel your pain, Harvard probably is a good place to go. However, if you want to improve your financial condition a bit, it's probably not where you will want to seek a job. Here's more from Leslie Gevirtz in Boston.

Welfare ends at a bad time for many people (Monday, 12/17/01)
Nina Bernstein tells about the many former welfare recipients who have been doing their part to succeed in the world of work, but the economy hasn't been cooperating.

How are you going to continue looking busy if you've been laid off? (Monday, 12/17/01)
Americans like to brag about how busy they are, particularly during recent years when being overloaded and not having enough time for everything has become an expected and valued condition. Even American retirees are expected to claim that they're busier now than when they were working, which may simply be a special case of Parkinson's Law. In fact, everybody has exactly 168 hours in each of their weeks, and it's really a matter of how we choose to use those hours. Lisa Belkin thinks Americans need to back off a little and take a vacation. The current downturn provides a valuable opportunity for many of us to re-examine our overwork ethic. Incidentally, our highly productive columnist, priest and noted management consultant John Cowan says that he isn't busy, and that he tries his best never to be busy. He explains in one of his BNWW essays.

Today's NewWork News Web Tip: All Things Frugal (Monday, 12/17/01)
If you need to reduce your budget, pinch pennies, retrench, gather your financial wagons into a circle, All Things Frugal can help you decide where to make some cuts.

The latest on the stimulus bill (Sunday, 12/16/01)
In this case, "bill" may be regarded as something to pass, as well as something to pay. Time is growing very short if new stimulus legislation is to have any hope of becoming a reality before official Washington largely empties out for the holidays. President Bush is trying to turn up the heat on the Congress, particularly Senate Democrats, by emphasizing how many additional jobs are likely to be lost if the kind of bill he would like is not passed. However, some Democrats, while believing that new legislation is needed, in large part to assist those most directly affected by the recession, think that many Republicans simply want to use this as an opportunity to cut taxes in order to reduce the overall size of government, a long-term Republican strategy. Unneeded tax cuts, say people like Senate Majority Leader Daschle, will simply enlarge the federal budget deficit which, under the best of circumstances, is likely to persist through 2005, particularly given that many experts are expecting recovery from America's latest recession during 2002 anyway. For the time being, though, there is the reality of the recession which isn't discriminating too much in how it is affecting people. It's "equal opportunity," writes the New York Times' David Leonhardt, and nearly everybody is feeling its effects.

The good news from Bavaria (Sunday, 12/16/01)
Germany has the world's third-largest economy, and it's struggling now along with many other world economies, including those which are number 1 and number 2. However, one part of Germany, Bavaria, is doing just fine, thank you, according to Steven Erlanger in Munich. Incidentally, prepare to say good-bye to many of Europe's most familiar currencies, because the euro is coming in only about two weeks. However, David Ignatius writes from Athens that it won't change much, and what Europe could use is a crisis. Reason: it could shake loose the kinds of reforms that are needed in order for Europe to fulfill its vast economic potential.

Enron attempts to answer some hard questions (Sunday, 12/16/01)
Former employees of Enron whose 401(k)s went up in smoke as their company's stock value plummeted are not happy with Enron management's handing of the situation, to say the very least. The company issued a statement in response to at least 60 401(k) lawsuits that already have been filed, but few affected individuals appear to be satisfied with the explanation.

Top management is earning a little less (Sunday, 12/16/01)
New research shows a decline in CEO income during 2001 after holding steady the year before. Here's more from Sherwood Ross in Charlottsville, Virginia where the university Thomas Jefferson founded is located.

Twenty-nine airport workers are taken away from the runway and put on the highway (Sunday, 12/16/01)
A security check has found that 29 workers at San Francisco International Airport are convicted felons. It may not be unnecessary to say that they no longer have access to the planes and runways, but we're saying it anyway.

Sexual harassment persists in the American workplace (Sunday, 12/16/01)
In the my-how-time-flies department, it may be interesting to note that it's been ten years since the stormy confirmation hearings in which Anita Hill accused Clarence Thomas of behavior that she thought unbecoming of a Justice of the Supreme Court. In the meantime, much training has been conducted and many people have been sued, but the Arizona Republic reports that sexual harassment on the job continues.

Ex-military personnel in demand (Sunday, 12/16/01)
Not so many years ago, many Americans seemed to like to believe that veterans were somehow personally responsible for an unpopular war in Asia, if not for the existence of war in this world. Times have changed now that the great majority of Americans appear to recognize that, given the realities of the world as it is, warriors are absolutely necessary. Even during peacetime, if it were not for the presence and readiness of a high-quality professional military, the world's most unspeakable dictators would be landing combatants on U.S. shores as we speak. Moreover, the events of September 11 have reminded millions of Americans of those things which are most precious about American society and most deserving of preservation, not only for Americans but for all the world's people over the centuries ahead. If the United States were to disappear or become an unrecognizable place, a dark age could eventually settle over the world for at least a thousand years. Evidence of a changed attitude toward persons who choose to put their lives in jeopardy in defense of the American Constitution, its institutions, and its people is the fact that ex-military personnel are in great demand among employers who are hiring. Here's more from Julie Lynem in San Francisco.

Jerry passes out the latest Smittys (Sunday, 12/16/01)
Columnist Jerry Heaster feels that recognition is due a number of companies, and he's willing to provide it. We expect that you will be entertained, at least.

Today's NewWork News Web Tip: Layoff Survival Kit (Sunday, 12/16/01)
This Layoff Survival Kit comes to you from USA Today and is rich in resources.

A president and a prime minister discuss economics and other issues (Saturday, 12/15/01)
President Bush and Thai Prime Minister Shinawatra have been discussing issues relating to the war in Afghanistan as well as economics. The U.S. will provide economic assistance and training in exchange for Thailand's help in Afghan reconstruction. Some Thais are concerned that he U.S. may be using U-Tapao air base for refueling purposes. If so, it is a faciltity that will be very familiar to the Americans, because the U.S. Air Force used to be stationed there.

Whoops--talks slow down again (Saturday, 12/15/01)
For a moment or two, it appeared that Congressional Democrats and Republicans were getting closer to a deal on the stimulus package, but negotiations have been stumbling again as the two sides seem be getting further apart. Donna Smith reports that negotiators are working through the weekend.

Mechanics authorize a strike that the Administration says won't happen soon (Saturday, 12/15/01)
United Airlines' mechanics have voted to authorize a strike, but the White House has indicated that it will step in and delay a strike for 60 days if it comes to that. Elsewhere in the airline industry, Delta and its pilots have reached tentative agreement on a new contract.

Inflation holds, manufacturing continues to slip (Saturday, 12/15/01)
Glenn Somerville reports that inflation in the U.S. is holding steady and still isn't a problem, in large part because of the recession.

Employers back off from 401(l) matching funds (Saturday, 12/15/01)
In their effort to cut costs, more and more employers in the automotive industry are telling their workers that they will no longer match employee 401(k) contributions. Here's more from Jeffrey McCracken of the Detroit Free Press.

Colors of the season (Saturday, 12/15/01)
There's been a lot of red, white, and blue since September 11, and this is supposed to be the season of red and green as well. However, Dan Goodin says that a lot of pink is also is being seen around the country, as layoffs continue, despite the holiday season.

Electrolux of Sweden cuts more jobs (Saturday, 12/15/01)
The big Swedish appliance maker is trying to increase productivity by moving plants and cutting jobs. With the new announcement, its 87,000-member workforce will be reduced by 5.6 percent.

Explaining the gap (Saturday, 12/15/01)
Why has income inequality been increasing throughout the industrialized world and in the U.S. most of all? What should be done about it, if anything? Alexander Stille of the New York Times passes on some of what economists are saying.

The effect of unemployment in Turkey (Saturday, 12/15/01)
Joblessness has been ripping at social life in Istanbul. Here's more from Somini Sengupta..

Resignation, as expected (Saturday, 12/15/01)
A top Argentine finance official calls it quits. He'll be happy to let somebody else try to solve his country's tremendous financial problems.

Disney pays California (Saturday, 12/15/01)
A contractor that assembled products for Disney violated child labor, minimum wage and overtime laws. The big entertainment company will pay the State of California $903,000 to cover back wages.

Health sites approved (Saturday, 12/15/01)
Thirteen online health sites meet the approval of the American Accreditation Health Care Commission. In the Commission's judgment, you can trust the information you will find on them.

Today's NewWork News Web Tip: USAJobs (Saturday, 12/15/01)
Want to work for the federal government? You can run for office, if you like, but you might also want to check USAJobs.

The American economy sends out mixed messages (Friday, 12/14/01)
The Washington Post's John Berry tells about the fogged crystal ball with which forecasters are trying to forecast the U.S. economy's next several months. Retail sales took a big hit last month, but first-time unemployment claims were at their lowest level since the September 11 terrorist attack. Meanwhile, whether either inflation or deflation may be a longer-term threat, consumer prices remained steady last month, according to Department of Labor's Consumer Price Index. The Index had declined the previous month.

There must be an easier way to make a living (Friday, 12/14/01)
Daniel Marx, Argentina's deputy economics minister is expected to resign from what may be one of the tougher governmental positions in the world right now, given his country's tremendous economic problems. Sibylla Brodzinsky reports from Buenos Aires for USA Today on yet another general strike as the Argentine government attempts to find solutions to what may be insoluble economic, and, therefore, also political problems.

More on the realities of the wrestling match over the stimulus bill (Friday, 12/14/01)
Considering that 2002 will be an important election year, there are Republicans as well as Democrats who have their reasons for preferring that the presumed efforts to reach a compromise on stimulus legislation fail, while all the time wanting to give the appearance of the opposite. Both sides would like to be able to blame failure on the other party without appearing insensitive to the needs of voters who are being laid off. This can easily happen, given all the publicity that the intended stimulus package has received, whether or not it will turn out to be a good policy. Richard Stevenson of the New York Times has some additional thoughts and information.

Telecommunication and transportation sectors are needing less labor (Friday, 12/14/01)
BellSouth will cut another 1,200 jobs added to the 3,000 cuts announced in October. Cuts are even larger at Qwest which announced yesterday that it will eliminate 7,000 jobs in addition to the 4,000 cuts announced in September. General Motors will send more than 4,000 workers home, but only for a few days. Meanwhile, and columnist L. M. Sixel reports, many companies are cutting costs in other areas in an attempt to avoid or minimize job cuts.

Farm bill gets stuck (Friday, 12/14/01)
Efforts to pass new farm legislation have bogged down because of a web site that lists subsidies paid to farmers, many of them wealthy, over the past five years.

Today's NewWork News Web Tip: Farm Subsidy Database (Friday, 12/14/01)
Here's the Environmental Working Group's Farm Subsidy Database which lists the beneficiaries of government subsidies during the past five years and has been getting so much attention from members of Congress.

Sides resume talking and get closer (Thursday, 12/13/01)
As Hubert Humphrey once remarked, politics is "the art of the possible." Unlike many legal contests, it's not a matter of "winner take all." Instead, the creation of legislation almost always involves compromise, with competing sides getting only part of what they really would like to have. In the negotiations for a stimulus plan, both sides have been moving away from their original positions, making it more likely that a bill will get out of Congress and to the other end of Pennsylvania Avenue before the holiday recess. Meanwhile, David Francis reports on the growing evidence of rising consumer optimism combined with other factors that could produce a relatively rapid recovery even if there turns out to be no government stimulus program at all.

Job cuts at Aetna (Thursday, 12/13/01)
Aetna plans to cut 6,000 jobs, which will amount to 16 percent of its workforce of 37,000 employees.

The unpopularity of belt-tightening (Thursday, 12/13/01)
Tony Smith reports from Buenos Aires on growing protests in Argentina where large numbers of people are unhappy about the government's economic reforms, which it sees as necessary for attracting IMF help in order to avoid default. A general strike appears to be imminent.

Workplace backlash (Thursday, 12/13/01)
The EEOC continues to receive a great number of complaints about discrimination against Arab Americans in work settings, even though hate crimes seem to be on the decline.

Layoffs don't necessarily make it easier to find the right people (Thursday, 12/13/01)
Large numbers of people are being laid off, but, as Diane Stafford reports, many employers are still having difficulty finding the quality workers they would like to hire. Ms. Stafford has an explanation.

First feast, now famine (Thursday, 12/13/01)
The downturn in the tech sector means a major unemployment problem for states with a lot of hi-tech companies.

Another labor agreement in Hollywood (Thursday, 12/13/01)
The Directors Guild of America and has reached an agreement on a new three-year contract with Hollywood's major studios.

The gender gap is not evenly distributed (Thursday, 12/13/01)
Average pay differences for men and women vary greatly from one region of the U.S. to another. Here's more from Laurent Belsie of the Christian Science Monitor.

Online filing (Thursday, 12/13/01)
Kansas job-seekers will be able to file for unemployment benefits online, rather than waiting out busy signals on the telephone.

Today's NewWork News Web Tip: A Brief History of Slavery (Thursday, 12/13/01)
Millions of persons continue to work under conditions of slavery, and, in fact, because world population is far larger now than during earlier times, estimates are that, in absolute numbers, there may be more slaves now than at any previous time. Here is a Brief History of Slavery.

Logjam in Congress may be about to break (Wednesday, 12/12/01)
There are indications that Congressional Republicans and Democrats may get together on a stimulus bill sometime soon, in part because of a willingness on the part of the Administration and the Republicans in Congress to compromise on tax issues and aid to the unemployed. Congressional leaders indicate that they will try for agreement within 48 hours, but James Kuhnhenn of the Detroit Free Press says the remaining stickler is what to do about tax cuts for individuals.

Japan's current recession may be a long one (Wednesday, 12/12/01)
Japan has had a rough ten years economically. It hasn't been a single recession, but, instead, four, and signs are that the current one could last a while. In contrast, Argentina's recession has lasted for years, and its government is struggling to acquire the political support necessary for a painful austerity budget that can secure IMF aid and, thus, help the country avoid a real meltdown. Meanwhile, America's current recession might be over in the blink of an eye, historically speaking. Signs are that it's already bottomed out, but, like generals who insist on fighting the last war, Congress is behaving as though the worst is yet to come.

What a difference a year makes (Wednesday, 12/12/01)
Columnist Susan Tompor compares the federal funds rate of a year ago with what it is after yesterday's Fed action. She also explains why Chairman Greenspan now seems to be a conductor whose orchestra seems to be playing off its own page. If you missed the news yesterday, here's Richard Stevenson's latest report on the 11th interest rate cut of the year.

Multiple-choice for the President (Wednesday, 12/12/01)
If President Bush was hoping for a single recommendation from his Social Security commission, he will have to be disappointed. Instead, he gets to choose from three or make up some plans of his own. Leigh Strope offers some perspective on why there's a problem in the first place, what the problem is, and the three means by which the Social Security Commission thinks it might be solved.

American Express gets smaller (Wednesday, 12/12/01)
American Express will cut another 6,500 jobs, many of them from its travel division.

A sign of Mexico's evolving economy (Wednesday, 12/12/01)
It happened in the U.S. years ago, but now it's happening in Mexico City as well. Large retail chains, which can enjoy great efficiencies and economies of scale, are squeezing mom-and-pop stores.

Britain is no melting pot (Wednesday, 12/12/01)
Many people around the world wonder why so many Americans seem to have to believe that "the U.S. is the greatest country in the world," and that's why "everybody wants to come here." Oh, really? Are Swiss or Norwegians or Australians or Swedes or Austrians lined up in huge numbers to emigrate to the United States? Wouldn't it be okay just to be a good country? Why does it have to be "the best?" While it may be that "immigration is the sincerest form of flattery," the fact is that people from poor countries have been trying to move to the rich countries, including but not limited to the United States. The U.S. has attracted a greater number of people in large part because it is an enormous country and, until very recently, anyway, had fairly porous borders. Nonetheless, huge numbers of people also have moved to Canada, Australia, Britain, Italy, and many other places, when they've been able. For instance, Americans whose image of Britain is stuck in a time warp based on old movies might be surprised to visit modern London where many languages routinely are spoken on its streets. Britain now has a diverse population, but not a highly integrated one, according to Warren Hoge of the New York Times.

"Manager" means never having to say "overtime" (Wednesday, 12/12/01)
Some people have been receiving promotions that really haven't been promotions, but only opportunities for employers to avoid paying overtime...they think. Eve Tahminchiglu tells about some of the class-action suits that have resulted. Elsewhere, and for very different reasons, other workers, er former workers, are unhappy. Pilots affected when Sun Country Airlines shut down are saying that the company has breached its contract with them.

Small business options in relation to rising health care costs (Wednesday, 12/12/01)
Many small business people are feeling the squeeze now that the cost of health coverage has been rising dramatically again. Joyce Rosenberg has been thinking about what they can do about it.

Today's NewWork News Web Tip: New York Stock Exchange (Wednesday, 12/12/01)
Does the New York Stock Exchange have a web site? Good of you to ask.

The 11th cut of the year (Tuesday, 12/11/01)
The Federal Reserve has cut interest rates by another quarter percent. Glenn Somerville tells why the cuts are likely to be smaller from now on. Actually, it wouldn't be possible to make too many more large cuts without making the borrowing of money entirely free. The 11th cut of the year drives interest rates to their lowest levels since Eisenhower was president.

More on what the stimulus bill argument really is about (Tuesday, 12/11/01)
Quite a number of economists are guessing that if a stimulus bill ever reaches the President's desk and is signed into law, it is likely to be too little, too late, and may very well do more harm than good to an economy that is likely to be recovering by the time new legislation kicks in anyway. So, why don't leaders in Congress and the Administration simply forget it and talk about something else? The answer may lie in the fact that 2002 is only a bit more than two weeks away and will be an important election year--particularly important because control of both houses of Congress may be up for grabs. David Espo tells about the partisan bickering that is gaining momentum in Washington, and Glenn Kessler tells what many leading politicians in both parties are saying to each other when the TV cameras are turned off. Given the upcoming election, both parties may rather have the issue than the new law, so the effort to reach a compromise on stimulus legislation may be slightly disingenuous, to say the least. Alan Blinder writes in the Washington Post that the needed stimulation already is occurring, but it isn't coming from the federal government.

Euros by the truckload (Tuesday, 12/11/01)
Something historic and symbolic is about to happen in Europe. Can you imagine Germany without its mark, France without its franc, Italy without its lira? It's about to happen. Peter Ford reports from Paris that armored, escorted vehicles at this very moment are spreading out across the 12 countries that will begin circulating the euro in less than a month. Many of the societies involved have been bickering or at war with one another more or less continuously over centuries, but now, a military attack of one on another would be inconceivable. Thus the many benefits of increasing economic integration.

Miners strike in Australia (Tuesday, 12/11/01)
Planned job cuts have resulted in a 24-hour strike of about 6,000 miners. Here's more from Sidney.

Report, but no consensus (Tuesday, 12/11/01)
President Bush's panel would like to see some form of partial privatization of the Social Security system, but the draft report being made available today shows that even a panel selected to agree on a lot in the first place hasn't been able to reach consensus on the devilish details. Here's more from Richard Stevenson of the New York Times.

Kroger doing better, many workers doing worse (Tuesday, 12/11/01)
Kroger's 3rd quarter earnings were improved, but the company intends to cut about 1,500 jobs.

'Tis the season to be spending...but many aren't (Tuesday, 12/11/01)
Consumer spending makes up about 2/3 of the American economy, and a major portion of that spending usually occurs during the holiday season, so, during a recession, holiday shopping is particularly important. Lorene Yue reports that consumers are being fairly cost-conscious and cautious this year. Chris Lester tells about the strong incentives being offered to shoppers this year, and says that while there's still time to rescue the spending season, it's growing short.

Self-help groups assist in achieving life-work balance (Tuesday, 12/11/01)
Columnist Jilian Mincer tells how working mothers are helping each other find the balance that everybody needs.

User-friendly colleges (Tuesday, 12/11/01)
Traditional colleges are finding that they not only have to engage in vigorous competition with each other in order to attract the kinds of students they want on their campuses, but the rapidly growing online higher ed sector is providing much additional competition as well. Students also have become more assertive and more selective. All in all, it means a significant change of attitude is sweeping through much of American higher education. Colleges are actually attempting to organize their activities around the needs and preferences of the population they intend to serve. "Instant admission" is an example, and here's more about it from mark Clayton of the Christian Science Monitor.

"Cover" can mean either "include" or "conceal" (Tuesday, 12/11/01)
...And here's Kevin Donlin's advice on preparing effective cover letters as part of your effort to secure Dream Job.

Today's NewWork News Web Tip: How to Interview (Tuesday, 12/11/01)
Here are some fairly simple and straight-forward pieces of advice on how to interview for a job. The site is well-constructed and "cutesy," but who's behind the advice? We don't know. No charge for taking a look, though. Is the advice worth more than it costs? You'll have to be the judge.

D. C. rhetoric heats up (Monday, 12/10/01)
The Vice President has called the Senate Majority Leader an "obstructionist," which certainly isn't the worst thing politicians have called each other in recent years, but it does mark a change in the "we're all mutually-supportive siblings" attitude that immediately followed the September 11 attack. The reasons for the change of climate have to do with the pressure many folks in the Congress and in the Administration are feeling to produce a stimulus package before the holidays.

What to do about health coverage when you're laid off (Monday, 12/10/01)
Shannon Buggs of the Houston Chronicle says that the situation faced by the large number of former Enron employees reflects a broad concern among the unemployed. What happens to health coverage? Milt Freudenheim of the New York Times reports that people who are managing to hang on to their jobs are finding that health coverage is costing them more as employers pass a greater share of the cost increases on to their employees. Incidentally, among those losing their jobs now are many money managers. Here's more on that from Svea Herbst-Bayliss. On the other hand, the childcare sector is expanding, and, with it, so are employment opportunities. Pay levels continue to be a significant problem, though.

Strike in Venezuela (Monday, 12/10/01)
The strike is nationwide, but what makes it different is that it's not a walkout of workers. Instead, businesses are closing their doors to protest new economic legislation.

Spending is down, business activity is down, so state revenues are down (Monday, 12/10/01)
David Westphal reports on the growing budgetary problems facing many states and what it all means for organizations that depend on state funding.

How the recession is delivering a blow to welfare-to-work (Monday, 12/10/01)
When people are forced to leave welfare and find a job, it works best when there is a job to find, or when the job doesn't disappear suddenly after finding it. Robert Tanner writes from Philadelphia about the bind that an increasing number of people who have moved off welfare are getting into.

A lot of small businesses may go dark soon (Monday, 12/10/01)
Retailers in the general region of the World Trade Center site have been hurting terribly since September 11, as you might expect, but, as Edward Wyatt reports, small business throughout the United States has been suffering. In Japan, consumer spending is aggravating a serious recession. Here's more from Jun Saito of Tokyo's Asahi Shimbun.

Raspberry considers Social Security reform (Monday, 12/10/01)
Noted columnist William Raspberry writes that it should not be a surprise when the President's commission recommends some form of partial privatization of the Social Security system, because the Commission was packed with advocates from the beginning. But, will it work?

Academic deflation (Monday, 12/10/01)
Grade inflation has become a problem on many American campuses, and, during recent years, costs also have been inflating faster than the overall economy. However, Michael Fletcher things are turning around at some pricey colleges. With competition for students coming not only from other brick and motor institutions, but also from virtual universities online, some schools are actually reducing tuition, and some are doing it significantly. Is it one more of a growing number of signs that deflation could become a problem for the entire American economy?

Some people who are talking to themselves are simply talking to their boss (Monday, 12/10/01)
More and more people are becoming self-employed, or trying to. Here's some advice on how to make that effort successful from John Gallagher of the Detroit Free Press.

You DO need to have a mentor (Monday, 12/10/01)
At least, that's what Carrie Johnson says in her @Work column. At the very least, the right mentor can be invaluable at showing you the ropes and helping you navigate through the treacherous business career minefield.

Managing debt (Monday, 12/10/01)
Alan Joch says that you should be careful expecting too much from professional debt negotiators who promise a lot. Nonetheless, the right counselor might be able to be of significant help by getting you in touch with root causes. Along similar lines, Seth Stern offers advice on how to avoid foreclosure during a period of foreclosures.

Today's NewWork News Web Tip: UNICEF Innocenti Research Centre (Monday, 12/10/01)
The Innocenti Research Centre is UNICEF's principal research division and focuses on the needs of children in developed as well as industrialized countries. Priority is given to underlying economic issues.

Help the country. Go home for Christmas...now (Sunday, 12/9/01)
It's widely agreed among both Democrats and Republicans that the Bush administration has been handling the war against terrorism quite well, and, in fact that, overall, the Administration may have the most competent foreign policy team since the Truman administration. This, plus the fact that everybody knows that the Republicans will control the White House for at least three more years, have taken quite a lot of things off the table for the moment. Nonetheless, a major national election is less than a year away which will determine who will control the Congress for a while, and this is more important to the two major parties than any particular bill that does not deal with the terrorism emergency. It all means that partisan politics will play an increasingly important role in relation to most other issues with each week that goes by between now and next November. Among other things, it means that if an economic stimulus bill really reaches the President's desk sometime during this life, there is a pretty good chance that it will have less to do with addressing the immediate economic needs of the nation and more to do with efforts on the part of both Democrats and Republicans to advance their overall agendas. It may even be a mishmash of both parties' worst ideas. The Christian Science Monitor discusses the relevance of the stimulus bill at this point and the odds that it will do more good than harm. Meanwhile, Curt Anderson reports that, if many Republicans get their way, the bill would provide major tax benefits to corporations, which may or may not be a good idea, but also may or may not happen at the right time or for the right reasons.

Another rate cut may come this week (Sunday, 12/9/01)
Interest rates may soon be lower than they've been since the 1950s. The Fed is expected to knock off another quarter point this week.

Rough time to get a raise (Sunday, 12/9/01)
Unions that are trying to negotiate for higher wages right now are faced with a major challenge. Steven Greenhouse reports from Las Vegas where the big AFL-CIO convention is going on.

Don't confuse the short-term with the long-term (Sunday, 12/9/01)
Because the American economy is in recession, unemployment has been increasing, but, as Jim Barlow of the Houston Chronicle reports, the real problem in the long-run will be finding enough workers with the right skills to take the jobs that the great American economic engine will generate. Meanwhile, the slowdown hasn't diminished the availability of jobs in all cases. Some occupations are still hot, while many are not.

Contention in Brazil (Sunday, 12/9/01)
The Brazilian government and the country's unions are going at it over plans for changing the national labor code.

Canada chooses a different path (Sunday, 12/9/01)
The Canadian economy has been slowing as well, but, as Bernard Simon reports from Toronto, unlike U.S. efforts to stimulate its economy, Canada is giving priority to avoiding deficits, which means a lot of belt-tightening.

Recession and Christmas cheer aren't entirely compatible (Sunday, 12/9/01)
David Crary reports on how the recession is taking quite a lot of the joy out of the holiday season for many people.

Funds diverted (Sunday, 12/9/01)
USA Today reports that, instead of holiday parties and Christmas bonuses, many employers are giving the money to charity instead, and, in the aftermath of September 11, a great many employees aren't complaining.

Underestimating the cost of being old (Sunday, 12/9/01)
If your retirement planning is based on the assumption that it will cost less to live during your late years, you may want to reconsider. Albert Crenshaw of the Washington Post reports on the findings from a new study.

Today's NewWork News Web Tip: LRA Online (Sunday, 12/9/01)
The Labor Research Organization does research on unions, and findings as well as news are presented on LRA Online.

Stimulus talks break down in Congress (Saturday, 12/8/01)
The President has indicated that he wants a bill for stimulating the American economy SOON, and, for a time, it appeared that productive negotiations were underway. However, as Curt Anderson reports from Washington, partisan wrangling has scored a temporary victory and talks have been suspended. Some economists might hope for a permanent deadlock on this particular issue, though, because, given that an important national election will happen in less than a year, whatever bill might result is likely to be more political than economic and might do more harm than good. However, economic forecasting seems considerably less precise than weather forecasting, so Louis Uchitelle of the New York Times is skeptical of claims that recovery is just around the corner.

Sun Country reduces its staff to a grand total of six (Saturday, 12/8/01)
For the moment, at least, Sun Country Airlines has shut down and 900 people are without jobs.

There may be last-minute rescue for Argentina after all (Saturday, 12/8/01)
Emergency talks between Argentine government and IMF officials seem to be positive. Here's more from Simon Gardner and Mark Egan. Meanwhile, the World bank will provide a $70 million loan to Yugoslavia, and Vietnam will get $2.4 billion in assistance.

"Pink slip party" in Houston (Saturday, 12/8/01)
The many human casualties of Enron's collapse are attempting to adjust to the loss of jobs and, in many cases, their retirement as well, and they're also sticking together to try to help each other. In Japan, the response to Matsushita's early retirement offer has exceeded company expectations. Matsushita Electric is one of Japan's leading tech companies. Its Panasonic and National brands are familiar over much of the world.

America's oldest worker (Saturday, 12/8/01)
Harold Fisher is an employed, actively working architect, which, by itself, is not particularly remarkable. However, the fact that he is 100 years old does seem to be.

Today's NewWork News Web Tip: Franchise Solutions (Saturday, 12/8/01)
Want to go into business for yourself? The majority of new businesses fail within a year or two, but it isn't a complete mystery, nor are success or failure entirely random. Two of the most common reasons for failure are inadequate capitalization and poor management. In other words, it's easy to fall prey to excessive, unrealistic enthusiasm and overestimate how long your initial money will last or underestimate how long it will take before your efforts can become profitable. In short, it takes a lot, and you really have to know what you're doing. Sometimes a franchise can be just the thing, because it can mean having an experienced, successful partner who won't want you to fail. Careful, though, not all companies selling franchises are equally competent, experienced, or conscientious either. Scams abound. Don't bet your house on a business venture that has little chance of success. Franchise Solutions may be able to help you sort things out and avoid getting into a situation that is doomed from the beginning. But, still, be very careful. It's probably a good idea also to talk to an expert on franchising at your local university.

U.S. unemployment hits six-year high (Friday, 12/7/01)
November's unemployment rate rose to 5.7 percent. Since last March, 1.2 million jobs have been jettisoned from the American economy. Here's more from Martin Crutsinger in Washington.

Workplace violence in Indiana (Friday, 12/7/01)
Two are dead and six others wounded following a shooting at a factory in Goshen, Indiana. Jodi Wilgoren of the New York Times has additional details.

It's official: the Japanese economy is in recession...again (Friday, 12/7/01)