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MinnEcon Blog

Update: Gaming the food shelf for free food?

I posted earlier today on whether some people in this recession are tapping food shelves despite being relatively well-off. Michael Gmitter, pastor and director of a northeast Minneapolis food shelf and a source in our Public Insight Network, tells us he’s seeing people with full time jobs who own homes, cars and cabins seeking free…
by Paul Tosto

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Gaming the food shelf for free food?

Recessions can trigger desperate behavior. But are otherwise relatively well-off people starting to use the hard times simply to score free food? Yes, says Michael Gmitter, pastor and director of a northeast Minneapolis food shelf and a source in our Public Insight Network. He wrote to tell us that besides his usual clients in need…
by Paul Tosto

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How will Gov. Pawlenty’s budget cut plans afffect you?

UPDATE: You can listen to Pawlenty’s 2pm press conference here or join an online discussion at MPR’s political blog. We’ll get the list on Tuesday of all the cuts Gov. Tim Pawlenty plans to make to Minnesota’s two-year budget, my Minnesota Public Radio News colleagues are reporting tonight. It won’t be fun. According to our…
by Paul Tosto

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Reaching for the kids’ savings?

We’ve all reached into the kids’ piggy bank on occasion for some quick change. But in this economy are people having to seriously tap their children’s accounts? Minnesota Public Radio News wants to examine whether adults are reducing contributions or tapping their kids’ savings to meet expenses. We’ve heard from folks in our Public Insight…
by Paul Tosto

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MinnEcon Indicator: Minnesotans boast high credit scores for car loans

Minnesota’s economy may be on the skids, but, hey, we’re looking good if we want to buy a car. Minnesota, Connecticut, Wisconsin, Iowa and Massachusetts topped the list of states with the highest average credit score for new vehicle loans in the first three months of 2009, according to Experian Automotive, part of the Experian…
by Paul Tosto

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Are reverse mortgages the next big financial mess?

I don’t pay much attention to people who claim to foresee the next financial mess. But I listen up when the warning comes from one of the nation’s top bank regulators. Comptroller of the Currency John Dugan got my attention Monday when he urged greater consumer protection for reverse mortgages: “While reverse mortgages can provide…
by Paul Tosto

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Latest Minneapolis Fed report not so glimmerous

Last time we posted on the Federal Reserve’s Beige Book report on current economic conditions, we noted The Fed saw some glimmers that the economic turmoil in the Upper Midwest may be bottoming out. The newest report, released today, seems a little glummer in its roundup of Minnesota economic data. Highlights include: Minnesota’s tourism department…
by Paul Tosto

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MinnEcon indicator: Viewing the recession from the pulpit

Religious leaders have a great vantage point on this economy. They witness the daily joys and struggles of their congregation and do their best to help people through. They may also worry about their own jobs as they minister to others. We’ve kept tabs the past few months on a few ministers in our Public…
by Paul Tosto

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Proposed Army cuts put up to 400 jobs at risk at Fridley plant

It was only a few years ago, the Army was praising a Minnesota built cannon as a weapon of the future and almost exactly a year since the prototype went on display with great fanfare in Washington, D.C. But now the Non-Line-of-Sight Cannon is on the Defense Department’s kill list, threatening hundreds of Twin Cities…
by Paul Tosto

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Would you volunteer to take less money to save jobs?

We’ve done stories at MPR News about layoffs and furloughs in this recession. But what about workers who voluntarily cut hours (and pay) so their organization can try to meet budget goals and avoid mandatory cuts? That’s what they’re trying in Hennepin County. Teresa Lynch, a source in our Public Insight Network who works for…
by Paul Tosto

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