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Economies of OECD countries show worst performance ever; Membership in National Association of Realtors declines; British Airways eliminates first-class seats in new planes; Chinese buy 15% of the Cleveland Cavaliers; <em>Presstime</em&g

Economies of OECD countries show worst performance everThe economies of the developed world turned in their worst-ever performance in the first three months of 2009, says the Organization for Economic Cooperation and Development. The economies of the 30 countries of the OECD, which account for 71 percent of the world economy, fell 4.2 percent from the first quarter of 2008.Agence France-Presse

Membership in National Association of Realtors declinesThe National Association of Realtors reports a 13 percent decline in membership since 2006. In California, ground zero of the housing bust, only 2,030 people took the real estate licensing exam in March, down from more than 18,000 in March 2005.Los Angeles Times

British Airways eliminates first-class seats in new planesWith premium bookings on its North Atlantic routes down 13 percent, British Airways is eliminating first-class seats in its new planes. BA, which derives 50 percent of its revenues from premium-price seats, expects a permanent downturn in business travel.London Guardian

Chinese buy 15% of the Cleveland CavaliersA Chinese business consortium is buying up to 15 percent of the NBA’s Cleveland Cavaliers. The cash infusion may help persuade superstar LeBron James, who has spoken of leaving the team when his contract expires in 2010, to remain with the Cavs.The Wall Street Journal

Presstime moves to Web-only formatPresstime, the trade magazine of the Newspaper Association of America, this month published its last print edition. It will move to a Web-only format with its next issue.The New York Times

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