Recession Watch

Davos Feels the Pinch

It’s that time of year again, when the stars of Hollywood and the business world mingle on the Alpine slopes of Davos, Switzerland, at the World Economic Forum. But this year’s forum, which starts Tuesday, is going to look a whole lot different. John Thain canceled his ticket. Lloyd Blankfein’s sending his deputy. Larry Summers is concentrating on the financial crisis at home. Angelina’s got other plans. And even Bono won’t be there—he’s got a new album to promote. And Obama’s got no time to discuss Davos’ agenda, “Shaping the Post-Crisis World,” in a ski lodge. He’s not even sending Ben Bernanke—instead the other world leaders will have to make do with his senior adviser and longtime pal Valerie Jarrett.