TOKYO, Japan - February 16, 2009 - Japan warned Monday it was in the deepest economic crisis since World War II, after Asia's biggest economy suffered its worst contraction in almost 35 years.

Dear Employee:

As a result of the reduction of money budgeted for all department areas, we are forced to cut down on our number of personnel. Under this plan, older employees will be asked to take early retirement, thus permitting the retention of younger people who represent our future.

NEW YORK - February 12, 2009 - Home prices fell 12.4% during the fourth quarter of 2008, the largest year-over-year decline since the National Association of Realtors began keeping comprehensive records in 1979.

LONDON, England - February 12, 2009 - The Bank of England’s Governor admitted yesterday that Britain is now in “deep recession” and signalled that it is ready to start “printing money” as soon as next month in aggressive, last-ditch moves to limit the slump.

DETROIT, Michigan - February 10, 2009 - General Motors said Tuesday it would cut 10,000 white-collar jobs this year as part of a restructuring plan the struggling automaker submitted to the government in exchange for a bailout.

SACRAMENTO, Kalifornia - February 10, 2009 - Kalifornia's budget woes will sweep over the state's 58 counties this week when they get promises instead of checks for $89 million in anticipated payments for welfare, food stamps and other services.

NEW YORK - February 9, 2009 - Nissan Motor on Monday joined Toyota, Mazda and Mitsubishi in forecasting a loss for the current financial year, and announced it was cutting 20,000 workers in one of the most aggressive cutbacks so far by a Japanese company since the start of the global downturn," according to The New York Times.