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| Two SW Florida banks join list of weakest banks in Florida
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| Two more local banks have been added to the roster of the weakest banks in Florida, according to the latest ratings by BauerFinancial Inc. First State Bank of Sarasota and Flagship National Bank of Bradenton were downgraded to Bauer's lowest rating of zero stars for the first quarter of 2009. They join Century Bank of Sarasota and Community National Bank of Sarasota County in Venice, which repeated their zero grades from the fourth quarter of 2008.
Orion Bank of Naples and Florida Community Bank of Immokalee, which operate branches in either Sarasota, Manatee or Charlotte counties, also rated zero for the period.
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| @ Sarasota Herald Tribune | Posted: 06/19/09 at 0201 EDST
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| Floridians' incomes fall; longest decline in 61 years
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| Florida’s recession is worse than anything this state has seen in more than a half century, when it comes to money in your pocket.
The Bureau of Economic Analysis said Thursday that Florida now has had three consecutive quarters -- a total of nine months -- in which the personal income of state residents has declined. That hasn’t happened since the BEA began keeping records in 1948. Florida hasn’t even had two consecutive quarters of falling income until now.
Personal income is a measure of all the income to residents of the state. BEA said job losses, low interest rate payments and cuts in dividend income, plus direct pay cuts are to blame for the decline.
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| @ Ft. Lauderdale Sun Sentinel | Posted: 06/19/09 at 0315 EDST
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| Yacht dealer finds smooth sailing in troubled waters
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| drop-off in business usually results in declining revenues. Yet revenues have essentially remained flat for the past two years, despite the slumping economy, at the MarineMax Fort Myers yacht dealership. That's been accomplished by "taking market share away from our competitors and by focusing on our core values, which are taking care of the customer, making boating a lifestyle, selling an all-inclusive experience and providing premium service," said the general manager of the business, Ryan West. Lee County is the company's primary service area and its market share is up by 6 percent - from 23 percent to 29 percent - in 2009, as compared to the first five months of 2008, he said.
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| @ Ft. Myers News Press | Posted: 06/19/09 at 0320 EDST
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| Initial claims totalled 554,405 in the week ending June 13, a decrease of 26,791 from the previous week.
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| There were 349,255 initial claims in the comparable week in 2008.
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| @ U.S. Department of Labor | Posted: 06/19/09 at 0330 EDST
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| FHA brings relief for some condos
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| The resort-style pool, spa and health club along with luxurious 10-foot floor-to-ceiling windows are no longer the key selling points for 101 Eola in Thornton Park. Today the best thing going for the 146-unit condominium tower is that it's the only newly constructed building in downtown Orlando that is FHA approved, a special government sanction that allows buyers to put as little as 3.5 percent down.
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| @ Orlando Sentinel | Posted: 06/19/09 at 0345 EDST
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| Illinois unemployment rate hits 10.1%
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| Unemployment in Illinois is at a 25-year high, with the statewide rate climbing to 10.1 percent in May from 9.4 percent in April.
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| @ Chicago Tribune | Posted: 06/19/09 at 0400 EDST
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| Reforming financial regulations in America. Better broth, still too many cooks
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Barack Obama’s plan for regulatory reform is not bold enough.
Editor's Comment: This is a good read
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| @ The Economist | Posted: 06/19/09 at 0415 EDST
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| Leading Economic Index™ increased 1.2 percent in May, following a 1.1 percent increase in April, and a 0.3 percent decline in March.
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| The leading economic index increased for the
second consecutive month. The coincident economic index is still declining, but the declines are less intense. The recession is losing steam. Confidence is rebuilding and financial market volatility is abating. Even the housing market appears to be stabilizing. If these trends continue, expect a slow recovery beginning before the end of the year. However, employment will take longer to turn around.
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| @ The Conference Board | Posted: 06/19/09 at 0419 EDST
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| Corporate restructuring in Japan. reaking free
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In recent months Toyota has replaced its bosses, halted pet projects and temporarily cut production in Japan almost in half. Toshiba took control of affiliates and said it would shut down unprofitable businesses. Sony plans to halve the number of its suppliers to save {Yen}500 billion ($5.2 billion) this year alone. All have cut back their part-time and temporary workers, who had only ever been promised a pay-cheque, not a job for life. The actions of these prominent Japanese companies have encouraged others to follow suit.
Editor's Comment: This is a good read.
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| @ The Economist | Posted: 06/19/09 at 0646 EDST
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| Property Tax Assessments Boosted in Costa Rica
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| After nearly 15 years, Costa Rican municipalities still are adjusting to their r ole as assessors of property values, with the vast majority of Costa Rican homes officially listed far below their market value. Property owners now are paying $5 tax for every $2,000 of their homes' values, as opposed to $12 for every $2,000 before the law changed. Even so, income from the tax has risen significantly – at about 2 percent per year, according to the Finance Ministry's Tax Assessment Office (ONT).
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| @ Tico Times Costa Rica | Posted: 06/19/09 at 0652 EDST
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| Guanajuato Real Estate: Buy on Impulse or Rent and Have a Look Around!
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The discovery of rich silver mines in the area provided the wealth to produce the grandeur that is still evident today. Some consider the architecture of Guanajuato to be the most beautiful in Central and South America.
Editor's Comment: This is a good read. The Editor has been to Guanajuato twice, and it's beautiful
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| @ Bandaras News Puerto Vallarta, MX | Posted: 06/19/09 at 0655 EDST
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