Cash-strapped cities and counties have been cutting jobs to cope with massive budget shortfalls — and that tally could edge up to nearly 500,000 if Congress doesn’t step up to help.

Local governments are looking to eliminate 8.6% of their total full-time equivalent positions by 2012, according to a new survey released Tuesday by the National League of Cities, the National Association of Counties and United States Conference of Mayors.

FULL STORY: http://money.cnn.com/2010/07/28/news/economy/city_job_cuts/index.htm

Toyota Motor Corp. said Thursday it was recalling more than 400,000 older-model vehicles sold in the United States, citing potential steering-related problems in both.

The Japanese automaker said the recall would affect 373,000 Toyota Avalons manufactured between 2000 to 2004. The company said the vehicle’s steering lock bar could break under certain conditions, increasing the risk of a crash.

Toyota (TM) also cited steering issues in its recall of some 39,000 Lexus LX 470 vehicles. The company said that if the vehicle experienced a severe impact to the front wheels, such as striking a pothole, the steering shaft could disengage over time. The recall only affects cars from model years 2003 to 2007.

The company said it was not aware of any accidents related to its Lexus LX 470.

The latest recalls came less than two weeks after the company was subpoenaed by a federal grand jury to produce documents related to steering problems in its vehicles.

FULL STORY: http://money.cnn.com/2010/07/29/autos/toyota_recall/index.htm

This post on Coupon Cravings is so cool I just had to share it. Blogger Erin Gifford blogged about one money saving iPhone app each day for the past 30 days. The link above takes you to her summary of all 30 iPhone apps that save money. Each app is free, of course!

USA TODAY
The unemployment rate in about three-quarters of the nation’s largest metro areas rose last month as nearly one million teenagers entered the work force looking for summer jobs.

The Labor Department said Wednesday that the unemployment rate rose in 291 of 374 areas in June from May. It fell in 55 areas and was flat in 28. That reverses the trend of the previous three months, when joblessness fell in most metro areas.

But the report does not adjust the figures to take into account seasonal trends, such as high school or college students looking for work during the summer. As a result the figures tend to be volatile from month to month.

FULL STORY: http://www.usatoday.com/money/economy/employment/2010-07-28-metro-unemployment_N.htm

Get ready for a smaller paycheck.

At least that’s what could happen if Congress doesn’t approve President Obama’s proposal to extend the Making Work Pay tax credit soon.

The credit, introduced last year as part of the government’s stimulus package, boosts paychecks by up to $400 for single filers and up to $800 for joint filers, by reducing the amount of tax withheld from each paycheck.

And that extra $15 bump you’re used to getting each bi-weekly pay period is slated to expire at the end of the year unless Congress votes to extend the credit, much like the Bush tax cuts.

http://money.cnn.com/2010/07/27/pf/taxes/making_work_pay_tax_credit/index.htm

Apple Inc (AAPL) unveiled a new Mac Pro line with as many as 12 processing cores and up to 50% greater performance than the previous generations. The computers will feature ATI graphics and the option for as many as four 512GB solid state drives.

“The new Mac Pro is the most powerful and configurable Mac we’ve ever made,” Philip Schiller, Apple’s senior vice president of worldwide product marketing, said in a statement.

The glass ceiling has cracked, but women are still lagging behind men in earnings — by over $10,000 in median annual income. The gap, however, continues to narrow. Our friends at Mint.com recently illustrated the current state of affairs in this infographic.

Nissan is recalling 51,100 of its Cube hatchbacks in the United States and Canada because of possible problems with fuel spilling during rear end collisions.

In documents filed with the National Highway Traffic Safety Administration, Nissan Motor said Monday tests conducted by NHTSA safety regulators found more fuel spilled than federal standards allow. The spillage occurred during rear end crash tests at 50 miles per hour where the vehicle also spun onto its side.

Nissan said its own earlier tests did not show any fuel leakage, but it will issue a voluntary recall. It notified dealers last week and will contact owners on Aug. 30. Dealers will attach a special protector to prevent leaks.

FULL STORY: http://www.usatoday.com/money/autos/2010-07-26-nissan-cube-recall_N.htm

It looks like there is one price hike that consumers may yet get to avoid next year. The U.S. Postal Service’s plans to raise prices on stamps to 46 cents from 44 cents in January — a 4.5% increase — could be in doubt.

In an unprecedented move today, a coalition of 700 mailers acting as the Affordable Mail Alliance followed through on its threat to join together to oppose the rate hike, filing a petition with the Postal Rate Commission and joining some Capitol Hill critics of the rate hike. The commission needs to approve the rate hike for it to take effect Jan. 2.

If you’re human, chances are you want to save money.

So who knew it was as simple as listening to your kindergarten teacher. What, didn’t yours teach you to share too?

California is debating a bill that would help neighbors share an SUV to green the state, but you don’t have to wait for legislation.

Taking the concept out of the school playground and putting it to work in your neighborhood can save you hundreds a year.

1. Internet service. All it takes is a wireless router, and you and your neighbor — or neighbors — can bring a $60 Internet bill down to $30 or less a month. You’ll cover your cost of the router you would likely have bought anyway in about three to four months.

2. Lawn equipment. A friend who has neighbors who live in their house only part-time went in with his neighbor on the cost of a riding mower. It enabled him (and his partner) to afford a much nicer mower than the original push model they were looking at.

FULL STORY: http://shine.yahoo.com/event/financiallyfit/5-reasons-being-nice-to-neighbors-can-save-you-big-money-2046879/