The recession is starving the government of tax revenue, just as the president and Congress are piling a major expansion of health care and other programs on the nation's plate and struggling to find money to pay the tab.
Oil giants Exxon Mobil and Royal Dutch Shell on Thursday added to the industry's worst midyear showing in years, stung by slumping global energy demand that threatens to further slow exploration and production.
After lowering the $4.2 million asking price of their Lake Bluff estate three times and by more than $1 million, Mike and Marti Palmer flirted with the idea of trading the still-unsold custom home for something smaller.
Crisis? It would seem so. Despite spikes and blips, the Great Recession continues. Unemployment spirals, manufacturing craters, malevolent banksters still game the system and sundry companies seek new ways to squeeze blood from stones.
Cablevision Systems Corp. said Thursday that its board has approved a plan to spin off as a separate company its Madison Square Garden business, owner of the New York Knicks, Rangers and the famed sports arena where they play.