Tag: ECONOMICCRISIS

With Wall Street in disgrace and the economy in a nosedive, where should the country turn for financial advice? Would you ever think gamers? Since 2003, players on the massively multiplayer online role playing game (MMORPG) Entropia has been steadily building an economy that now boasts a daily turnover of $1.25 million per day. Entropia sports a real cash economy model of play where monetary ...

Last week, at the National Governors Association conference in Washington D.C., Microsoft publicized details of a new initiative, Elevate America, designed to teach computer skills to two million people over the next three years. The program offers two primary plans, one available immediately from Microsoft, and one to be offered in conjunction with local and state governments. The ...

So, you've lost your job, your main squeeze (or mistress), and some creditors are about to repossess your car (if they can find your secret parking spot three blocks from your apartment). It's tough out there. On the plus side, now you've got more time than you could possibly imagine to play those video games you bought that are just collecting dust. But what should you spend your new-found ...

A new study has found that the United States would make $52 billion over the next decade if lawmakers decided to lift a three-year ban on Internet gambling and tax the maligned industry. The study, prepared by accounting firm PricewaterhouseCoopers, may prove to be laying the groundwork for the repeal of the 2006 Unlawful Internet Gambling Enforcement Act, a generally ineffective piece of ...

A Boston couple, Gina and Emilio Reis, recently arrived home from a Circuit City liquidation sale only to discover that their new purchase, which bore a hefty price tag, was worthless. Unfortunately for the couple, they also learned that they're now stuck with their brand new, and completely shattered, $1,100 television. The store displayed numerous signs, inlcuding "All Sales Final," "Do Not ...

Sirius XM is preparing to file for bankruptcy and could do so within days, the New York Times reports. According to the article, the move might be a calculated act to pressure Dish Network and EchoStar owner Charles Ergen into making an offer for acquisition. The Wall Street Journal says he offered to purchase the merged satellite radio group late last year and was then brushed off. Despite ...

Say it ain't so (again) Pioneer, Japan's Nikkei is reporting that despite planning a return to profitability by sourcing Panasonic plasma panels, facing a consolidated loss of 100 billion yen ($1.08 billion U.S.) it will end TV development and production entirely. The DVD business will be spun off into a new venture with Sharp as part of a plan to shed several thousand employees over the next ...

While their men sit in front of financial Web sites sobbing, Wall Street wives and girlfriends are now logging onto their own Web sites and commiserating, according to the London Times. The blog, called Dating a Banker Anonymous, affords "DABA Girls" the opportunity to bemoan the dwindling passions (and allowances) they face in the wake of the economic downturn. Precariously perched between ...

When Bill Gates speaks about money, people listen. And according to Mr. Gates, the future is looking pretty grim: The philanthropist and former boss of a little company called Microsoft told the BBC that it could take as long as four years for the world economy to reverse its current downturn. Speaking at the World Economic Forum last week, Gates said the world's poor could not wait for ...

It wasn't that long ago that Monday mornings in the office were a depressing time -- another cheerful weekend gone; another long week of work ahead. But, these days, being in the office on a Monday is a good thing, because if your login still works you've survived another scary layoff Friday. Spare a thought, then, for those whose system access has been cut off, including 1,300 from Sun (the ...

If you were waiting to get some fliers in the mail announcing the beginning of clearances at your local Circuit City, we're sorry to report you've probably already missed the best deals. The liquidation was just made official last week, but, when Christen over at Gadget Review happened by the trendy Santa Monica branch of the doomed franchise yesterday, he found lines of people already waiting ...

As we made our way through this year's CES, we noticed that, in one way or another, the economic crisis seemed to be rearing its head in every booth. Between inflation and unemployment, it does seem silly to cover more extravagant items. In-ear headphones, or earbuds, were in large demand, though, which we attribute to folks wanting to buy inexpensive advancements that enable them to get more ...

The struggling economy is making life difficult for many Americans, and now a lack of updated technology is making it worse for the jobless. How's that, you ask? Because the soaring amount of unemployment claims across the country has crashed e-mail sites and turned phone lines into virtual traffic jams, making it harder for people to get aid. States like New York and California have had their ...

Who knew that Sony still made some of its television sets in the US? Well they do -- but not for much longer. The Japanese electronics behemoth has decided to close 5 to 6 more factories as part of a global restructuring, and has now said that the plant in Westmoreland, Pennsylvania will be one of them. The 560 people employed there will all lose their jobs. This comes on the heels of Sony's ...

AT&T may have about the best selection of choice handsets (smart or otherwise) available in the States right now, and continued iPhone exclusivity has definitely brought a windfall of new subscribers to its wireless division, but Ma Bell wasn't built on cell towers alone. There's still an extensive landline division to support, and it seems the company is leveraging the current economic ...