Theme park reports a surge in applications (Times-Dispatch)
With company after company announcing layoffs, Kings Dominion is hiring. And applicants are flocking — often from long distances — to put their names in for a job at the 400-acre theme park in Hanover County.
What recession? Avid grows again (Virginia Gazette)
Seven years ago, the founder of Avid Medical told a reporter that his business was “recession-proof.” At the time, there was no way to know how harshly he’d be tested. Yet Avid is proving Michael Sahady prophetic. His surgical kit company is fine-tuning a 90,000-square-foot expansion at Stonehouse Commerce Park.
As recession ravages their assets, the rich retrench (USA Today)
The rich may not be quite so different than you and me these days: They, too, have less money. Their fortunes have fallen along with the prices of stocks, oil and real estate. Luxury condos on Florida beaches languish; champagne sales are down; private jets sit idle. Times may be tough for the wealthy, but they’re tougher for those who serve and sell to them.
Ads That Pushed Our Usual (Well-Worn) Buttons (NY Times)
many of the more than 50 spots shown on Sunday would not have seemed out of place in any Super Bowl of the last decade or two. All the elements that are supposed to make for successful big-game commercials were displayed, over and over again, as if bonuses were being awarded on Madison Avenue for the least creative briefs.
The Economy According To Mint (Tech Crunch)
For the past year, we’ve been using data to help people set budgets using our SpendSpace feature. For example, do you spend more or less on coffee than the average San Franciscan? Or, how does your average purchase price and purchase frequency at Amazon.com, Starbucks, and JetBlue compare to other Mint users? We’ve discovered this data – in aggregate and entirely anonymous of course – is tremendously valuable in serving as a consumer advocate: the WSJ used our empirical data on bank fees to identify the worst banking offenders. As of late, it also provides a tremendous insight into consumer spending trends, and that’s valuable for all of us.than $50B in assets & liabilities.
Wall Street has no business rewarding itself this year (Slate)
Of course, 2008 is hardly the first time that corporate bonuses have been out of whack with performance; the typical argument that corporations (especially on Wall Street) make is that talent is their principal asset and that failure to pay outlandish bonuses will cause talent to flee. The only way to make that argument work this year is to bend the meaning of the word talent into an unrecognizable cipher. Virtually every Wall Street employee works for a division of a bank that last year lost tons and tons of money. That’s not talent; it’s incompetence. Such “talent” is not an asset; employees who lose you money are a liability; when liabilities outweigh assets, you have bankruptcy, which is exactly where every Wall Street firm would be right now if not for government help.
How to Win Frugal Consumers and Influence Them to Buy (Business Week)
Consumer shopping habits are changing. But the right sign, well placed, can bring sales even in a recession, says retail guru Paco Underhill.