Friday's Personal Finance stories
- Recession brings tough love to family businesses
- McDonald's recalls 12 million 'Shrek' glasses
- Here's how you'll pay for retirement
- No easy answers when buying a short sale
We had a lot of fun working together at that shop, but those were easier times, economically speaking. These days, family-run businesses are finding it a struggle to survive -- and that can raise familial tensions. How do you lay off a relative, or turn down a job request from your son or daughter? Read Ruth Mantell's Diary of a Recession Baby for more on some of the tough-love tactics that family businesses are forced to adopt in these difficult economic times.
With the latest job-market data looking relatively grim, family firms may find the tensions rising. Then again, tension is pretty easy to find anywhere you look these days.
-- Andrea Coombes , Personal Finance editor
Expecting Mom and Dad to set you up with a cushy job in the family business? Not so fast. In this economy, some family firms are finding themselves forced to turn down job requests from relatives, and business owners are laying off family members and longtime trusted employees because of the length of the downturn.
See Diary of a Recession Baby.
Retirement planning isn't about "the number," but the numbers -- your assets, liabilities, expenses and income. The more you know about those numbers, the more likely your retirement plan will become a reality instead of a pipe dream.
See Robert Powell.
Nonfarm payrolls grew by a seasonally adjusted 431,000 in May, but virtually all the new jobs were temporary jobs at the U.S. Census, leaving private-sector hiring very weak, the Labor Department reported Friday.
See hiring weak in May except for Census workers.
The Senate has approved the most significant expansion of the regulations governing U.S. financial firms since the Great Depression, yet as the rules inch closer to becoming law, legislative observers worry that the major changes won't be enough to ward off a future economic crisis.
See story on whether bank-reform bills prepare us for the next financial crisis.
Question: A bank in Ft. Lauderdale, Fla., has the final say on the sale of a house my daughter wants to purchase. The Realtor sold my daughter on making an offer on this townhouse, which is owned by someone who owes more than the place is worth. The day on which she was promised an answer has come and gone, but she has heard nothing from the bank.
See Realty Q&A.
McDonald's Corp. (MCD)will voluntarily recall 12 million collectible drinking glasses painted with characters from the movie "Shrek" because the paint contains cadmium, the Consumer Product Safety Commission said Friday.
See story on McDonald's to recall 12 million "Shrek" glasses.
You might not think it, but the health system that's at least a decade ahead of most of the private sector in operating an effective electronic health record is the Veterans Health Administration, whose VistA program has inspired a California company to try to build on its strengths.
See Kristen Gerencher's Health Matters Blog.
Imagine if a company held a shareholder vote and then ignored the results because it didn't like the outcome. Stop imagining. A closed-end mutual fund run by DWS Investments recently ran a slate of board members for re-election, and when the vote didn't go management's way, stiffed the shareholders and kept the incumbent, entrenched board.
See Chuck Jaffe's Stupid Investment of the Week.
Emerging markets have sounded a siren's song for many investors, and likely will lure many more. But do people know what they are getting into?
See John Prestbo's Indexed Investor.
Already reeling from a real-estate crisis and deep economic slump, Florida faces yet another financial cataclysm if oil from the Gulf spill mars its famous shores, scaring away crucial tourist traffic and wreaking havoc on its fisheries.
See story on how oil spill could mean dark times for Sunshine State.