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Ethanol will curb farm income until economy rebounds, economist says
CHAMPAIGN, Ill. – Ethanol helped drive two years of record profits for grain farmers, but also will hold income down during a looming recession that has already sliced crop prices in half, a University of Illinois economist says. Scott Irwin says agriculture’s fortunes are now tethered more to ethanol than food, making crop growers vulnerable […]
Job losses higher and quicker than feared, U. of I. economist says
CHAMPAIGN, Ill. – Worse-than-expected job losses in October are another grim signal that the recession-bound U.S. economy is unraveling even faster than feared, a University of Illinois economist says. Anne Villamil says a new report released Friday showing unemployment surged to a 14-year high of 6.5 percent in October is worrisome because job losses are […]
Economics students to compete in College Fed Challenge
CHAMPAIGN, Ill. – A team of University of Illinois economics students will compete Nov. 10 in the district finals of the College Fed Challenge, a national contest promoting the Federal Reserve’s role in the U.S. economy. The five-member team will compete against schools from across the northern Midwest during the daylong contest at the Federal […]
A second round of tax rebates likely, U. of I. economist says
CHAMPAIGN, Ill. – Taxpayers may be in store for another windfall next year as the federal government tries to prop up an economy that could be spiraling toward its deepest recession in nearly three decades, a University of Illinois economist predicts. J. Fred Giertz says Congress will likely approve a new economic stimulus package that […]
Flawed 401(k) laws putting retirement at risk, expert says
CHAMPAIGN, Ill. – Congress needs to reform flawed 401(k) laws that could push back retirement for millions of Americans whose savings have collapsed along with the stock market, a University of Illinois elder law expert says. Law professor Richard L. Kaplan says 401(k) accounts were meant to supplement traditional defined-benefit pensions, but have evolved into […]
Study: Immigrants close earning gap more slowly than previously thought
CHAMPAIGN, Ill. – Immigrants whittle into a broad earnings gap with American-born workers only about half as fast as long-accepted estimates suggest, according to new research by a University of Illinois economist. Darren Lubotsky says immigrants’ typically low starting wages grow just 10 to 15 percent faster than native-born workers over their first 20 years […]
Turmoil in the stock market: What should you do with your investments?
David Sinow has managed money for more than 25 years, founding a financial planning company and full-service bank before joining the College of Business in 2001. Sinow, a clinical professor of finance who teaches classes on stocks, bonds, securities and wealth management, offers tips on how to navigate today’s choppy economic waters in an interview […]
Another bailout? Government pension insurer could be next, expert says
CHAMPAIGN, Ill. – Another multi-billion-dollar taxpayer bailout could lie ahead, this time to rescue a cash-strapped government program that insures pensions of 44 million American workers and retirees, a University of Illinois finance professor warns. Jeffrey R. Brown says the troubled Pension Benefit Guaranty Corp., which steps in when private-sector employers with under funded defined-benefit […]
Grand opening set for new, ‘green’ Business Instructional Facility
CHAMPAIGN, Ill. – A new, $60-million-plus Business Instructional Facility, the first “green” building on the University of Illinois campus, will be officially dedicated during a grand opening on Oct. 17. Up to 1,000 people are expected to attend ceremonies at the state-of-the-art facility, with environmentally friendly features such as rooftop solar panels that help power […]
Expert: Flawed corporate watchdog methods helped fuel economic crisis
CHAMPAIGN, Ill. – Archaic corporate governing systems that failed to ferret out risky business deals helped stoke the nation’s deepest financial meltdown since the Great Depression, a University of Illinois business law expert says. Law professor Larry E. Ribstein argues the traditional, corporate-run firms that dominate the nation’s Fortune 500 are ill equipped to prevent […]
Bailout will avert long, deep economic downturn, U. of I. economist says
CHAMPAIGN, Ill. – A massive Wall Street bailout won’t stave off a recession, but will ease a creeping economic meltdown that threatened to slice into jobs, retirement savings and access to credit across the country, a University of Illinois economist says. Anne Villamil says the $700 billion rescue plan approved today in a second House […]
Presidential economic adviser, SEC accountant to speak at U. of I.
CHAMPAIGN, Ill. – A presidential economic adviser and the chief accountant for the U.S. Securities and Exchange Commission will present lectures this month on the University of Illinois campus. Charles P. Blahous, deputy assistant to the president for economic policy and deputy director of the White House National Economic Council, will speak at 1:30 p.m. […]