| Click here for yesterday's / today's market indices
|
|
| Sarasota set for federal subsidy plan
|
Sarasota County is about to be designated an economic “recovery zone” because so many people have lost jobs and homes. The good news is that the U.S. Treasury will reimburse 45 percent of interest costs for local businesses and governments who borrow money in this new zone for job-creating projects. The program will subsidize the interest costs for up to $46 million in borrowing in Sarasota County. Sixty percent of that, or $27.8 million, would be available for private businesses.
Editor's Comment: This is a good read
|
| @ Sarasota Herald Tribune | Posted: 07/07/09 at 0201 EDST
|
| Single-employee businesses abound in Lee County - Ft Myers
|
| They’re called mom and pop shops, but sometimes it’s just a mom or a pop — not both — running the business. The Census culled data from 2007 IRS tax returns, showing 50,831 individuals with just a single person on the payroll — themselves. That’s significantly higher than other Census statistics that list 10,161 of Lee’s 16,945 businesses as employing from one to four people.
|
| @ Ft. Myers News Press | Posted: 07/07/09 at 0315 EDST
|
| Recession can't stop entrepreneurial spirit
|
| In a good economy, Americans start hundreds of thousands of new businesses every year. And in a bad economy, like today's? They do pretty much the same thing. Fewer businesses with employees were created last year, and more were dissolved, than the year before. But the country still ended the year with an increase of 32,000 firms.
|
| @ Miami Herald | Posted: 07/07/09 at 0320 EDST
|
| Chinese drywall linked to problems in U.S. homes
|
| The final years of the U.S. housing boom and a disastrous series of Gulf Coast hurricanes created a golden opportunity for Chinese drywall manufacturers. With domestic suppliers unable to keep up with demand, imports of Chinese drywall to the U.S. jumped 17-fold in 2006 from the year before.
|
| @ Palm Beach Post | Posted: 07/07/09 at 0330 EDST
|
| Growing breed of accidental entrepreneur has recession to thank for business creation
|
| Many who were laid off are turning to Plan B: Starting a business
|
| @ Chicago Tribune | Posted: 07/07/09 at 0345 EDST
|
| More failed banks in Illinois than any other state
|
| Illinois leads the nation in bank failures this year, though regulators say that is primarily because it has more banks than any other state. The number doubled to 12 with the shutdown of six banks in two days last week. State and federal regulators said the Campbell Group, a family-operated holding company for all six, invested in the kind of risky mortgage-backed securities that brought down much larger financial institutions.
|
| @ Springfield Journal Register | Posted: 07/07/09 at 0400 EDST
|
| Upper-Income Consumers Most Inclined to Trim Their Debt
|
| 44% of all Americans say they intend to reduce their overall debt over the next six months, with 60% of upper-income consumers planning to do so, compared to 50% of those having middle incomes and 38% with lower incomes.
|
| @ Gallup | Posted: 07/07/09 at 0415 EDST
|
| In Blow to Housing, Risky Mortgage Losses Seen Rising
|
| Standard & Poor's Monday boosted its expectations for losses on risky loans backing U.S. mortgage securities to as much as 40 percent, suggesting a darkened outlook for the troubled housing market.
|
| @ CNBC | Posted: 07/07/09 at 0419 EDST
|
|
|
| India to Raise Spending and Cut Taxes
|
| India’s finance minister introduced a budget on Monday aimed at stimulating the economy through increased government spending and tax breaks. But the plan disappointed many foreign investors, especially after the Congress Party’s re-election victory in May raised hopes that more market-friendly economic policies might be at hand.
|
| @ New York Times | Posted: 07/07/09 at 0646 EDST
|
| Toronto June home sales soar 27 per cent
|
| Multiple offers. Frenzied buyers. Higher prices. In the middle of a recession, Toronto real estate has gone from a buyer's market to what looks like a seller's market. But can it last? Some analysts say the spring fling will be exactly that – a quick bump up in numbers with a much more sombre fall to come. It was the best June for sales since the board started tracking the numbers in the mid 1960s.
|
| @ Toronto Star | Posted: 07/07/09 at 0652 EDST
|
| Housing sales soar in Ontario’s biggest cities
|
| The Toronto Real Estate Board said Monday there were 10,955 sales in the Greater Toronto Area in June, a 27% increase from the 8,600 homes sold a year ago. In Ottawa, housing sales jumped 12.5% in June to 1,895, also a new record for the month. The average sale price in the GTA last month $403,972, up 2% from a year earlier. In Ottawa, the average sale price rose 3% annually to $306,925.
|
| @ Financial Post - CA | Posted: 07/07/09 at 0655 EDST
|
| -30- |
