GLOBAL ECONOMIC CRISIS NEWS UPDATES
February 2, 2009 Links

Prime Minister Gordon Brown brings Britain to the edge of bankruptcy, by Iain Martin, The Telegraph, January 21, 2009

Summary: Despite a massive effort to bail out its banks with $64 billion in taxpayer funding (U.S. dollars), England is on the verge of bankruptcy. The country passed an emergency effort to prop up its banking system last October, but the funding managed to keep the British in the money for just three months.
Super Bowl ads upbeat, but can't ignore economy, by Paul Thomasch, Reuters, February 1, 2009

Summary: Advertisers paid $3 million to air 30-second commercials in 2009's Super Bowl match-up between the Pittsburgh Steelers and the Arizona Cardinals. While NBC sold all its advertising slots for the top sporting event, perennial Bowl Game advertisers General Motors and Fedex were noticeably absent, reflecting the economy's slowing sales, frozen cash flows, and growing job losses.
Davos: will Pepsi beat downturn? (VIDEO) Reuters, January 23, 2008

Summary: The global credit crisis is hurting a wide range of industries, but leaders at Pepsico say that their business is not vulnerable to economic downturns. According to Pepsi CEO Indra Nooyi, consumers flock to "comfort foods" to help them get through tough times. In addition, Pepsi's presence across the Middle East, Latin America, India, and China acts as a buffer against economic and political crises in any single particular region.
Bad economy bodes well for shaky marriages (Video), Associated Press, November 18, 2008

Summary: Whether it's the stress of a job loss or the shock of depleted 401k plans, money troubles place enormous strain on married couples. However, in harsh economic times, the friction that spouses experience over personal finances is often preferable to long and costly divorces. According to some experts, marriages may even be safer in bad economic times.