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economic downturn

Tech Employers Recruit Engineers

Michael Linhorst  —  Feb 10, 2010

Despite an ailing economy and the event’s cancellation last year, 75 employers attended the Engineering Career Fair in Barton Hall yesterday. The fair, which was organized and run by the student group Engineering Career Fair Team, attracted between 1,500 and 2,000 students. It also drew such widely known companies as Lockheed Martin, Microsoft, Apple and Facebook.

Medical College Hopes Weill Donation Will Set Precedent

Seth Shapiro  —  Apr 23, 2009

The $170 million donation that Sanford Weill ’55 advanced to the University ahead of schedule in January is more valuable than its monetary worth alone, college officials say.

“We needed it as an inspiration … for others to come forward … with a gift,” said Stephen Cohen, associate provost and executive vice dean for administration and finance at Weill Cornell Medical College.

Around $135 million of the total donation will be used to fund the construction of a new 480,000 square foot medical research center in New York City, while the remainder will be put towards programming in Weill Hall, the new life sciences building on the Ithaca campus.

Relationships and Unemployment

Apr 9, 2009

The words of wisdom in this week's advice column cover queries about the embarrassment of online dating as well the difficulty of finding an internship in today's job market.

CALS Will Cut $4M More To Reach 5-Percent Goal

Willimina Bromer  —  Feb 18, 2009

This is the second article in a series examining the effects of the University’s budget cuts on individual schools and colleges.

The $2.8 million cut in state funding for the College of Agriculture and Life Sciences announced in the fall was unwelcome but not altogether unfamiliar. Throughout the college’s history, CALS has faced three periods of significant reductions resulting from state cuts, according to CALS Senior Associate Dean Jan Nyrop. However, in order to account for the University-mandated 5 percent cut — in accordance with the Ithaca campus reduction of the same amount — the college will have to cut an additional $4 million, amounting to a significant decrease unparalleled in CALS history.

Bigger Isn't Always Better

Lee Blum  —  Feb 10, 2009

Today the Senate passed its version of the stimulus bill. The House version of the American Recovery and Reinvestment Act has a price tag of about $820 billion while the Senate version stands at a total of $838 billion. Now the two versions will have to be reconciled and signed by President Obama. The ultimate goal of the stimulus legislation is to restore demand by replacing private spending with public spending and using tax cuts to hopefully restore consumers’ income enough to spur consumption. It is widely accepted that a stimulus bill is the proper means by which to improve the economy – it is perhaps the best of some bad options.

Shoppers bring haggling skills to the mall

The Associated Press  —  Dec 22, 2008

NEW YORK (AP) — If you're looking for an extra bargain before the holidays, you may only have to ask.

With holiday sales shaping up to be the lowest in years, possibly the worst since the industry began annual comparisons in 1969, retailers say they're taking consumers' demands for good deals seriously. Some are extending return policies, while others are matching competitors' prices. Many are volunteering on-the-spot discounts and even letting customers haggle prices well down from what's marked in a desperate bid to make the cash register ring.

"You'd have to be a moron not to ask for a discount," said Stephen Hoch, a retailing expert at the Wharton School at the University of Pennsylvania.

'I'm sorry' the economic crisis is occurring

The Associated Press  —  Dec 2, 2008

WASHINGTON (AP) _ President George W. Bush expressed remorse that the global financial crisis has cost jobs and harmed retirement accounts and said he'll back more government intervention if needed to ease the recession.

"I'm sorry it's happening, of course," Bush said in a wide-ranging interview with ABC's "World News," which was airing Monday. "Obviously I don't like the idea of people losing jobs, or being worried about their 401(k)s. On the other hand, the American people got to know that we will safeguard the system. I mean, we're in. And if we need to be in more, we will."

Recession-hit automakers brace for grim US sales

The Associated Press  —  Dec 2, 2008

WASHINGTON (AP) _ Walloped by the recession, automakers' U.S. sales are plummeting as hard-to-get credit, job losses and other stresses make many Americans wary of taking on big-ticket financial commitments.

Auto sales for November, released Tuesday, are expected to show a drop of 36 percent from a year ago to a seasonally adjusted annualized rate of 10.2 million vehicles, according to Joseph Amaturo, analyst at Buckingham Research. Those sales figures would include the Big Three Detroit car makers as well as foreign companies that sell vehicles in this country.

Higher Education Responds to Waning Economic Climate

Nikhita Parandekar  —  Nov 24, 2008

This is the first part of a series delving deeper into the economic crisis and its effects on higher education, particularly at Cornell.

In the past few weeks, members of the Cornell community have received a plethora of information about how Cornell is dealing with the current economic crisis. Like Cornell, many institutions of higher education have created innovative plans to support their missions while managing their budgets.

Hope and Resolution

Donial Dastgir  —  Nov 15, 2008

It's been over one week now.

One week since Barack Obama became president.

One week since he surmounted all obstacles and shattered many boundaries to reach the highest office in the country.

The euphoria on Tuesday night at his victory, at the collapse of one more racial barrier, and at the imminent expulsion of President Bush was tremendous. That night, Washington D.C. was ablaze. Cars raced down the avenues, horns blaring, radios loudly blasting the voice of Obama as he gave his victory speech. People were heard shouting in their homes, in the bars, even in the local CVS.

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