Holiday Sales Worst in 40 Years

The deals were there and, by most accounts, so were the shoppers. But at the close of the final holiday shopping weekend, consumers confessed they were still nervous about buying.

In Hard Times, Many Churches Turn to Chapter 11 in Book of Bankruptcy

The auctioneer told the small crowd huddled outside the Talbot County Courthouse that the property would be sold “as is” — rectory, bell tower, oak pews and rose-tinted stained glass windows included.

California Could be Broke in 2 Months If Budget Deal Not Made

A California official is warning that the state will run out of money in about two months unless a budget deal is struck. State Controller John Chiang said Monday that his office could be forced to defer billions of dollars in payments or issue IOUs.

Churches Stand to Lose Several Billion Dollars in Economic Downturn

Tens of millions of Americans have already suffered substantial financial losses in the wake of the sub-prime mortgage crisis and subsequent financial challenges. A new survey from The Barna Group shows that more than 150 million adults said they have been affected by the economic turbulence, and most of them expect it to take several years before the nation fully recovers. 

Seminaries Tightening Belts Amid Crisis

When 85 new students enrolled this fall at Wartburg Theological Seminary in Dubuque, Iowa, the numbers were “beyond our wildest dreams,” said President Duane Larson. But the Lutheran school’s board, looking at a 35 percent drop in its endowment value and a similar decline in individuals gifts, also had to face up to stark financial realities.

Focus on the Family Cuts 202 Jobs

Because of a weak economy and cash-strapped donors, Focus on the Family
said it is eliminating 202 jobs, the deepest cuts in the 32-year
history of the Colorado Springs-based Christian nonprofit. The ministry
laid off 149 workers, and cut another 53 vacant positions.

In Bad Economy, Divorcing is Even Harder To Do

Bonnie Rabin is fond of saying that divorce lawyers are a bit like liquor stores. They’re busiest in the really good times, and the really bad. These, of course, would be the bad times.

Focus On The Family to Layoff More Employees

In October, Focus on the Family announced it would lay off or reassign
46 employees next year due to the restructuring of its distribution arm.

Americans Trying to Save Money

Spendthrift (spend’ thrift’) n. a person who spends money carelessly; squanderer. Frugal (froo’ gel) adj. not wasteful; not spending freely; thrifty.As economic news has worsened and recession
appears inevitable, Americans’ spending habits have swung from one
definition to another.

Rick Warren Weighs In on Economy and Prop 8

Purpose Driven Life Pastor Rick Warren weighed in on the economic downturn and President-elect Barack Obama’s proposed plan to redistribute wealth during an interview this week.