New bank names are popping up around South Florida. As the strong replace the weak and the economy stabilizes, the changes should help ease the credit crunch. A series of bank takeovers, spurred by the recent financial upheaval, has brought several new banking giants to the state — already one of the most competitive landscapes […]
Tag: Economy
Homeowners walking away from underwater mortgages.
Many South Florida homeowners who can afford to make their mortgage payments are choosing not to, forcing the lender to foreclose. It’s called strategic default. Andres Duque thought he got a real steal when he paid $125,000 for his Little Haiti condo. But four years later, similar units are selling for $35,000 and even less. […]
Commercial loans' health key to banking recovery here.
Full recovery of the banking industry in South Florida depends on the extent of losses from commercial real estate loans now coming due and on how much capital banks are able to come up with, experts say. While the fallout from bad residential mortgages seems to have crested, “the other shoe – commercial mortgages – […]
Credit crunch hurts small, mid-size trade firms.
Even as economists see signs that the global recession may be easing, a lack of financing for South Florida exporters and importers is holding back growth in international trade. Big changes occurred in trade financing in the wake of last year’s economic and financial crisis — and importers, exporters, their customers and suppliers have all […]
Economic stimulus plans create role reversal.
Americans begin to save as Chinese start to spend FLORIDA: The United States and China have been playing a little economic role reversal as both countries adjust to the new realities created by the global recession. Americans – who have thrived for years on their insatiable consumerism – are now stashing away more of their […]
Jobless opt for entrepreneurship over job hunting.
In a tough economy, when people get laid off, they might not be keen to start the process of a job search. Some are developing a business plan, securing financing and making the adjustment to being self-employed. An article appearing in The Miami Herald on June 24, 2009, quotes Irma Becerra-Fernandez, director of the Eugenio […]
Nimble South Florida companies own weapons to fight recession.
According to Federal Reserve Chairman Ben Bernanke, the nation will pull out of the recession by the third or fourth quarter of this year. Of course, the likelihood of that happening is about the same as Octomom Nadye Suleman being invited to give the keynote address at the annual meeting of Planned Parenthood. Read MiamiToday […]
MBA's appeal grows in a shrinking economy
Add this number to the many fact and figures being bandied about during this recession: 246,957, the record-high number of GMAT exams administered to aspiring MBA candidates last year. So far this year, numbers of test-takers show the volume looks to be even greater. ”Typically, people sit out economic downturns in school — business school […]
Digging Deep
Latin America is not immune to the economic downturn, but, says Jude Webber, with more stable governments and encouragement of foreign investment, the region is perhaps better positioned to deal with it than ever before. Worried about the economic crisis? Thinking of cutting back? Think again, Argentine president Cristina Kirchner advised this month. Though her […]
Shop till you drop no more: Retailers found holiday cheer hard to come by this year.
The 2008 holiday shopping season reflected both the economic woes and the reduced consumer confidence that abound in today’s retail markets. “Worries about their jobs, the difficulty in accessing credit, and the uncertainty about the economy caused many consumers to exercise restraint and to use cash for the purchases they did make,” said Deanne Butchey, […]