Alabama state officials distributed $12 million the first of March to revolving loan funds meant to spur job creation. Each of the state’s 12 regional planning councils received $1 million, including the South Alabama Regional Planning Commission, which serves Mobile, Baldwin and Escambia counties, and the Alabama-Tombigbee Regional Commission, which includes Choctaw, Clarke, Conecuh,...
Cities across America are facing dire financial distress Meredith Whitney, a banking analyst turned independent adviser who correctly predicted the banking meltdown, has issued an Armageddon-like prediction of mass municipal defaults. To anyone reading the headlines of budget deficits and staggering pension liabilities, it takes little imagination to conclude that the next big one...
Some big U.S. banks are starting to increase their lending to businesses as demand for loans rises and healthier banks seek to grab customers from weaker rivals. After declining steadily for most of the past two years, the amount of commercial and industrial loans held by commercial banks inched upward during the past two...
98 banks who received TARP funds in current financial trouble The 98 banks in shaky condition got more than $4.2 billion in infusions from the Treasury Department under the Troubled Asset Relief Program. They are victims of eroding capital levels, a pileup of bad loans and warnings from regulators. Seven TARP recipients have already...
Franchises and national retail chains are growing in this slow economy Franchise owners are using the Great Recession to their advantage to grow their business. A recent business report on Fox News outlines the savings available to franchise owners: Lease rates are more affordable with a reduction in rates by as much as 33%...
Answer: Overall, bad for the economy, good for investors if you know what asset classes to park your money. The pros and cons of quantitative easing, aka, QE or QE2 was discussed on a segment of the Nightly Business Report PBS program. Also, financial and investment expert, Martin D. Weiss, Ph.D., gave...
Finally! Today the Senate approved a multi-billion dollar package of tax breaks and government-backed loans for small businesses. Democrats surmounted months of opposition by Republican leaders. Backers say the bill could spur business growth and new hiring. “Small businesses are the major job creators in our economy, and this legislation will ensure that our...
Banks are getting the shaft from all their key profit centers and is signaling more trouble ahead for the U.S. economy Profit center #1: Falling home mortgage loan demand Housing starts are stagnating in the 550,000 range, while building permits just slumped to a 15-month low. The National Association of Home Builders’ confidence index...
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