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| Home prices continue to slide in Sarasota / Bradenton
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| With its median sales price at $155,200 in the first quarter, the Sarasota-Bradenton-Venice market saw a 40.8 percent drop from a year ago, the seventh biggest nationwide.
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| @ Sarasota Herald Tribune
| Posted: 05/14/09 at 0201 EDST
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| Home sales may get a push. New look at $8,000 tax credit
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| HUD Secretary Shaun Donovan said the department is days away from finalizing a plan that would allow first-time homebuyers to use the federal government's $8,000 tax credit on a down payment and closing costs instead of waiting until they file their tax returns to get it.
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| @ Tampa Tribune | Posted: 05/14/09 at 0315 EDST
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| Glut of commercial property stuns Bradenton and Sarasota business owners
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| Manatee and Sarasota counties have a 6 percent retail vacancy rate. Manatee has 692,622 square feet of empty retail space, and Sarasota has 1,030,239 square feet that sitting empty.
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| @ Bradenton Herald | Posted: 05/14/09 at 0320 EDST
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| SW Fla. banks may get a bailout
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| Treasury Secretary Timothy Geithner announced the plan Wednesday in remarks to an association of community bankers. Geithner also said the administration is moving forward with plans to streamline financial rules as part of a broader overhaul to be unveiled in the next several weeks. Banks with less than $500 million in assets will have six months to apply for the funds, Geithner said. They also will be able to apply for larger amounts than banks were allowed to request during the current round of investments.
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| @ Ft. Myers News Press | Posted: 05/14/09 at 0330 EDST
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| Stimulus Aid Trickles Out, but States Seek Quicker Relief
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| Nearly three months after President Obama approved a $787 billion economic stimulus package, intended to create or save jobs, the federal government has paid out less than 6 percent of the money, largely in the form of social service payments to states.
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| @ New York Times | Posted: 05/14/09 at 0345 EDST
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| Foreclosure can weigh on tenants in Illinois
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| Even if you're current on paying your rent, you can be evicted if the landlord has lost the property due to foreclosure.
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| @ Chicago Tribune | Posted: 05/14/09 at 0400 EDST
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| U.S. retail and food services sales for April, decreased 0.4 percent from the previous month
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| Sales decreased 10.1 percent below April 2008. Total sales for the February through April 2009 period were down 9.2 percent from the same period a year ago.
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| @ National Bureau of Economic Research | Posted: 05/14/09 at 0415 EDST
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| More Homeowners Getting Aid, but Demand Keeps Rising
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| In the two months since it launched, the Obama administration's foreclosure prevention plan has outperformed the government's previous attempts, offering more than 50,000 homeowners lower-cost mortgages. The demand from distressed borrowers has overwhelmed many lenders and nonprofit organizations, which have hired more staff to cope. And there is a growing concern about whether the plan can reach its goal of helping 4 million homeowners without tackling the issue of borrowers who owe more than their home is worth.
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| @ Washington Post | Posted: 05/14/09 at 0419 EDST
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| Thriving Norway Provides an Economics Lesson
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| When capitalism seemed on the verge of collapse last fall, Kristin Halvorsen, Norway’s Socialist finance minister and a longtime free market skeptic, did more than crow. As investors the world over sold in a panic, she bucked the tide, authorizing Norway’s $300 billion sovereign wealth fund to ramp up its stock buying program by $60 billion — or about 23 percent of Norway ’s economic output.
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| @ New York Times | Posted: 05/14/09 at 0652 EDST
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| Sun sets on BP’s solar hopes
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| Solar power will not be able to compete with conventional energy until there is a breakthrough in the technology, BP’s chief executive has said, in a further sign of the company’s move away from renewables towards oil and gas. BP has invested hundreds of millions of dollars in making solar cells and components, but in the past six months it has been closing factories around the world, and announced a sharp cut in its investment in alternative energies, such as solar, from $1.4bn last year to $1bn (£658m) this year.
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| @ Financial Times - UK | Posted: 05/14/09 at 0652 EDST
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| International Energy Agency Cuts Oil-Demand Forecast, Projects Biggest Drop in 28 Years
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| The Paris-based adviser to 28 nations cut its global oil demand estimate “slightly” to 83.2 million barrels a day this year, down 3 percent from 2008, it said today in its monthly report. That is 230,000 barrels a day lower than it forecast last month. The revision comes a day after OPEC reduced its 2009 forecast, predicting oil demand of 84.03 million barrels a day.
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| @ Bloomberg News | Posted: 05/14/09 at 0655 EDST
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