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Posh Eateries Uncork Deals in Downturn

(Newser) - High-end eateries are rolling out three-course deals and wine specials to lure America's hungry in hard times, CNN reports. "A year ago, to be honest, I didn't have to hit that three-course menu at $35 a head," said a Manhattan restaurateur whose business is down 20%. "...

Everything Must Go: Hard Times Create Yard Sale Boom

'Thrift economy' thriving as households struggle to meet mortgage payments

(Newser) - Yard sales are on the rise nationwide as the economy heads for the cellar, the New York Times reports. Flyers for sales cover lampposts in formerly booming communities as struggling homeowners seek to raise cash from selling off all the non-essentials—even children's toys. Many of the bargain-hunters are in...

$19B Buyout of Clear Channel Nearly Dead

Credit woes have sale of radio giant to private firms crumbling

(Newser) - A $19 billion bid to privatize Clear Channel appears likely to fall through as buyers and financiers bicker—with credit-crunch-induced liquidity woes a major stumbling block, the Wall Street Journal reports. A credit agreement between private equity firms and the banks funding the move has become shaky. “No one...

Motorola May Sell Ailing Cell Phone Division

Company struggling against smart phone competition

(Newser) - Motorola, battered by more innovative competitors in the cell phone industry, is considering spinning off or selling its flagship mobile phone division to concentrate on other parts of its business. Motorola, which once rocked the industry with its innovative StarTAC flip phone and the ultra-slim Razr, now plans to refocus...

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