For evidence that the moneyed classes are hurting, too, look no further than the March issue of Gourmet magazine, which features a ham sandwich on its cover. This was the highlight of a Sunday New York Times article about how the high-end food magazines are slumming it , sort of, in response to the sinking economy. Gourmet has also launched a new feature on what to do with leftovers. Food & Wine 's March issue includes a guide to choosing cheaper wine. Bon Appetit offers a feature on throwing a "low cost" pizza party.
"As the high-end magazines try to survive a shaky 2009, it is out with the truffles, in with the button mushrooms," wrote the Times' Stephanie Clifford. Two of the aforementioned magazines, Gourmet and Bon Appetit , are very similar and are both published by Condé Nast, which, as a whole, has seen both circulation and advertising revenue go into a downward spiral in recent months.
So, should Gourmet and Bon Appetit be merged, as many industry observers ...
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Quantifying the Nightmare Scenarios
freakonomics.blogs.nytimes.com 3/2/2009 — Dartmouth's Eric Zitzewitz is one of my favorite co-authors, and a whiz at tracking financial markets. And when he mentioned to me last week that a close look at the options markets told an interesting tale of fear, I asked him to share his ...
Is the Administration's GDP Forecast Too Rosy?
econbrowser.com 3/3/2009 — There's been a lot of discussion of whether the Administration's forecast is too rosy. [1] , [2] , [3] , [4] , [5] , [6] I thought it useful to examine this issue a bit more deeply.
Figure 1: Real GDP q/q growth rate from Administration ...
Op-Ed Contributor - Our Great Recession
nytimes.com 3/2/2009 — THIS recession, which began in December 2007, has already lasted longer than the average postwar recession. If it turns out to be as bad as the most protracted of the postwar downturns, we will touch bottom next month. But my strong suspicion is that ...
South Korea’s Exports Drop 17.1% on Global Recession (Update1)
bloomberg.com 3/3/2009 — March 2 (Bloomberg) -- South Korea’s exports fell for a fourth month in February, extending the longest run of declines since 2002, on weaker demand from the U.S., Japan and Europe. Overseas shipments decreased 17.1 percent to $25.8 billion from a ...
Buffett's Bite-Size Wisdom —
The Big Money 3/2/2009
Sometimes letters will bring succor when the numbers fail. Among the losers in the financial disaster of 2008 was Berskhire Hathaway , down 9.6 percent on the year. Though the company still beat the S&P 500 by a healthy 27.4 percentage points, ...
Down, Dow, Down! —
The Big Money 3/2/2009
I am a heretic, an economic masochist, a traitor to my industry and my country. When the Dow Jones Industrial Average starts falling, I hope it keeps falling. I am a man who roots for the stock market to go down.
Forgive me, capitalism, for I have ...
Sites For Recessionary Times —
The Big Money 3/3/2009
One of the tiny bright spots in this miserable economic time is the number of clever Web sites and blogs that have sprung up as responses to different, personal aspects of the recession. For months, we've enjoyed Econowhiner , handsomely designed ...