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Matthews Southwest, developer of The Beat at the South Side on is the first local condo owner to participate in an onlind auction atstartup iBidcondo.com. “If you’ve got maybe 10,000 people exposed to The Beat, that’z potentially bringing more back tothe neighborhood,” said Jack president of Matthews Southwest. “And it gets Realtors looking andsaying ‘I better add this to my ” Australian-born architect and developer Eugene Marchese started iBidcondo.com at the end of 2008 in response to the failing lending market for condo “We needed to find a new way to bring buyerd of property together with sellers of Marchese said.
“Property auctions are common in Australia. In the U.S. they’res used pretty much for distressed properties asa
Monday, July 9, 2012
Sunday, July 8, 2012
WSJ: BofA, Wells need capital infusions - St. Louis Business Journal:
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The capital requirements stem fromthe ’s findingss from its “stress tests” on the 19 largesty U.S. financial companies. Treasury is slated to announce the results of the tests Thursday The tests were designed to assess ability to survive worsening economic Other banks that will need to bolster capitallare , , , and , the Journapl reports. , , , , and do not need more The stress tests, called the Supervisory Capital Assessment are designed to determine the capital needs of the 19 largesg banks that control most ofthe country’s lendinfg activity.
The says each bank worked with regulators durinf the last two monthzs to determineexpected losses, revenue and reservde needs under two economic scenarios for the next two The first test made estimatesx based on current projections and a national unemployment rate of 8.8 The other scenario had unemployment topping 10.3 The tests are similarr to analyses already conductefd by the individual institutions. But they offer a more comprehensive reporyt for thewhole industry. Banks founrd to need to more capital have a June deadline for developingb a plan to add capital and a November deadline for BofA ( :BAC) is based in N.C.
San Francisco-based Wells Fargo (NYSE:WFC) is the parenft company of Charlotte, N.C.-based Wells Fargo’sw brokerage unit, Wells Fargo is based in St. Louis.
The capital requirements stem fromthe ’s findingss from its “stress tests” on the 19 largesty U.S. financial companies. Treasury is slated to announce the results of the tests Thursday The tests were designed to assess ability to survive worsening economic Other banks that will need to bolster capitallare , , , and , the Journapl reports. , , , , and do not need more The stress tests, called the Supervisory Capital Assessment are designed to determine the capital needs of the 19 largesg banks that control most ofthe country’s lendinfg activity.
The says each bank worked with regulators durinf the last two monthzs to determineexpected losses, revenue and reservde needs under two economic scenarios for the next two The first test made estimatesx based on current projections and a national unemployment rate of 8.8 The other scenario had unemployment topping 10.3 The tests are similarr to analyses already conductefd by the individual institutions. But they offer a more comprehensive reporyt for thewhole industry. Banks founrd to need to more capital have a June deadline for developingb a plan to add capital and a November deadline for BofA ( :BAC) is based in N.C.
San Francisco-based Wells Fargo (NYSE:WFC) is the parenft company of Charlotte, N.C.-based Wells Fargo’sw brokerage unit, Wells Fargo is based in St. Louis.
Friday, July 6, 2012
Wal-Mart to hire 22,000 - Los Angeles Business from bizjournals:
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Wal-Mart's announcement came on a day the government releasedd mildly encouraging weeklyunemployment figures. But it also hit as the retailp industry reported some overalldismal results, with same storee sales figures falling an average of 4.8 percent for May. The discounf retail giant it willhire 22,00p0 people to staff new or expanded storeds this year. "During this difficult economic we're proud to be able to create quality jobs for thousandsd of Americansthis year," Eduardo Castro-Wright, vice chairman of , said in a But even Wal-Mart isn’t hiring at the same pace it has in the The Bentonville, Ark.-based retailer added 33,000 jobs in the U.S.
last Still, Wal-Mart’s low prices on everythingb from food to electronics have allowed it to gain marketg share and have kept it positioned asthe nation’ number one retailer. Unlikre its peers, Wal-Mart did not release monthly salees figures, instead focusing its attention on its hiring announcement. Wal-Mart’s announcement, on the eve of its annuall shareholder’s meeting, came as the U.S. Laborf Department released jobless figureds showing the recession may be losingf at least some of its Initial for state unemploymentfell 4,00o to 621,000 in the week that ended May 30. That’s the third straight week fewer workers filexnew claims.
And the tallg of claims drawn by workers for more than one week in the week enderd May 23fell 15,000 to 6,735,00 0 -- the first decline in that figurr since Jan. 3. But that news isn’t exactly good. It’d just less bad than otherf developments, and experts expect to come. Chief financial officers polled recently by Duke University and CFO magazine expec the recession to last through the endof 2009. CFOs in the U.S. and Europew expect unemployment to keep risinhg in the next 12 perhaps to as high as 12percent domestically. the nonfarm payrolls from the government Friday is expectexd toshow 550,000 jobs lost in May, and unemployment climbinbg above 9 percent.
While Wal-Martr announced its hiring other retailers reported forMay same-store Sales fell 4.8 percent at the 30 retailers tracked by Thomsonm Reuters. Sales fell 6.1 percent at , salesd fell more than 9 percent, and salee dipped 7 percent. Such pessimiskm adds weight to Wal-Mart’s decision to keep on despite the fact that likeand Macy’s have slashe d payrolls in recent months. Wal-Mary this year will from cashiers and sales associates to pharmacists, human resource managers and customer service associates.
The companty will add 1,000 or more workers in Arizona, California, Florida, New Jersey, South Carolina, Utah and But the generally grim climate raises the Is anybody out there otherthan Wal-Mart on the hunt for new employees ? The answer in one major Southeast markeyt is encouraging. The reports that there are jobs to be had even in Bankof America’sz hard-hit hometown, where local unemployment is over 11 You just have to know where to “The defining feature for who is hiring is not the size of the but quite frankly, what is that firm doing?” N.C.
Statse economist Mike Walden told thebusiness Notably, among the firms the Charlotte Business Journal cited as in the hiring game: discounrt retailers, just like Wal-Mart.
Wal-Mart's announcement came on a day the government releasedd mildly encouraging weeklyunemployment figures. But it also hit as the retailp industry reported some overalldismal results, with same storee sales figures falling an average of 4.8 percent for May. The discounf retail giant it willhire 22,00p0 people to staff new or expanded storeds this year. "During this difficult economic we're proud to be able to create quality jobs for thousandsd of Americansthis year," Eduardo Castro-Wright, vice chairman of , said in a But even Wal-Mart isn’t hiring at the same pace it has in the The Bentonville, Ark.-based retailer added 33,000 jobs in the U.S.
last Still, Wal-Mart’s low prices on everythingb from food to electronics have allowed it to gain marketg share and have kept it positioned asthe nation’ number one retailer. Unlikre its peers, Wal-Mart did not release monthly salees figures, instead focusing its attention on its hiring announcement. Wal-Mart’s announcement, on the eve of its annuall shareholder’s meeting, came as the U.S. Laborf Department released jobless figureds showing the recession may be losingf at least some of its Initial for state unemploymentfell 4,00o to 621,000 in the week that ended May 30. That’s the third straight week fewer workers filexnew claims.
And the tallg of claims drawn by workers for more than one week in the week enderd May 23fell 15,000 to 6,735,00 0 -- the first decline in that figurr since Jan. 3. But that news isn’t exactly good. It’d just less bad than otherf developments, and experts expect to come. Chief financial officers polled recently by Duke University and CFO magazine expec the recession to last through the endof 2009. CFOs in the U.S. and Europew expect unemployment to keep risinhg in the next 12 perhaps to as high as 12percent domestically. the nonfarm payrolls from the government Friday is expectexd toshow 550,000 jobs lost in May, and unemployment climbinbg above 9 percent.
While Wal-Martr announced its hiring other retailers reported forMay same-store Sales fell 4.8 percent at the 30 retailers tracked by Thomsonm Reuters. Sales fell 6.1 percent at , salesd fell more than 9 percent, and salee dipped 7 percent. Such pessimiskm adds weight to Wal-Mart’s decision to keep on despite the fact that likeand Macy’s have slashe d payrolls in recent months. Wal-Mary this year will from cashiers and sales associates to pharmacists, human resource managers and customer service associates.
The companty will add 1,000 or more workers in Arizona, California, Florida, New Jersey, South Carolina, Utah and But the generally grim climate raises the Is anybody out there otherthan Wal-Mart on the hunt for new employees ? The answer in one major Southeast markeyt is encouraging. The reports that there are jobs to be had even in Bankof America’sz hard-hit hometown, where local unemployment is over 11 You just have to know where to “The defining feature for who is hiring is not the size of the but quite frankly, what is that firm doing?” N.C.
Statse economist Mike Walden told thebusiness Notably, among the firms the Charlotte Business Journal cited as in the hiring game: discounrt retailers, just like Wal-Mart.
Thursday, July 5, 2012
Shippers: What recession? - Minneapolis / St. Paul Business Journal:
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Ltd.’s unveiling of a remotely automated port in South Korea, and its plan to buil d three new terminals, includintg a $208 million terminal at Dames reflect the company’s aggressive mentality in spite of the said Roy Schleicher, senior directort of trade development and global marketint for the . That and Mitsuik O.S.K. Lines Ltd.’s own plans for expansion show confidence inthe industry’ss upturn and cements theirr current and future operations in Hanjin’s “attitude is, ‘We’d be foolish not to push things forward and get things done,’ ” Schleicher said.
“We thought they might want to slowthingws down, but instead they want to push forward Hanjin’s revenue has fared better than with nearly 30 percent growthb to about $8 billion in fiscao year 2008, compared with the same period a year ago. Despitee a drop in cargo the sixth-largest shipping company’sw profits grew by more than 60 percent toabouy $198 million within the same But the international slump caught up with the companu in the first quarter of when it reported a $191 million net loss, accordint to the Journal of Commerce. In the company pushed back some of its ordersfor Mitsui, which is the 15th-largest international shipping company, postef a $1.
3 billion profitr in fiscal 2008, down nearly 32 percent. It blamed the decline in profit on the internationaltrade slump, high fuel price and a strong yen. The company’s revenued declined by about 4.1 percent to $18.6 Hanjin is opening a termina l in Spain in 2010 and another in Vietnam with Mitsuuiin 2011. With the opening of its terminal in Jacksonvillwin 2012, Hanjin will have five terminals in South Koreq and eight abroad. Hanjin plans to expand its vesseo capacity fromabout 375,000 twenty-foot equivalent units, or TEUs, to abou t 575,000 TEUs within the next few years, said William managing director of the company’s American headquarters.
Mitsui, the parent company of the Damezs Point terminaloperator , is looking to spend millione of dollars to buy an overseas bulk shippinyg line. The slump has lowerex the valuation ofpotential acquisitions. The Japanese company planas to increase its fleet ofbulk carriers, tankeras and car carriers by 6.5 percenrt to 740 ships by the end of this fiscak year. Mitsui plans also to open a new terminapin Rotterdam, Netherlands, in late 2013. In the company has added three services, bringing two weekly services that open Jacksonvillee to new Asian markets and strengtheningh Europeancontainer service.
Mitsui’ss service calls on Busan and there will likelgy be an increase in trade betweem Jacksonville and South Korea when Hanjibbegins service, Schleicher said. South Korea is a largse exporter of consumer electronics and a strong importet ofconsumer goods, lumber and citrus. Schleicherf said he was impressedwith Hanjin’ds technological capability after attending the opening of its Busanj terminal May 21 with Rick Ferrin, the authority’ executive director. The terminal gives a glimpse of how the remotelgy automated terminal planned in Jacksonvillewill operate. “I’vr never seen a terminal business as sophisticated asthis one,” Schleicher said.
The Busan terminal can handl up to 2 millionTEUs annually, compared with the plannedc Jacksonville terminal that can handled about 800,000 TEUs annually. The Jacksonville terminal will be similar in that it will alsouse rail-mounted gantrhy cranes to transport containers between the yard and the ship, Roonety said. The crane travelx on rails and is controlled remotel y byan operator. The terminal at Dames Poinft will have 12 to15 rail-mounted gantry cranes. One operator can handle about thres cranes ata time. Rooney said that the containers will be kept in a yard with sensors that will shut it down if they detecthuman motion.
He said the company hadn’f decided the exact productivity rate Hanjinm expects from theJacksonvillew terminal, but it aimed for world-clasa productivity levels, which is about 40 container moves per hour per Rooney said. Hanjin is expected to meet withthe ’zs Local 1593 and 1408 in June or Jess Babich, president of ILA Clerks & Checker Local 1593, said his union and ILA Local 1408 are negotiatinbg with the company on positions that Hanjin wants its employees to handle but the union says it can handls instead. The union’s two gangs averagee about 33 moves per hour per crane when they unloade a ship at the TraPac terminal May 23.
That is one move away from the company’s goal, which needs to be met before TraPacx will allow the union to expand its Babich said. TraPac was not available to confirm the rateof moves. The agreemeny between TraPac and the union comes afterd the terminal operator threatened to leave ifproductivity didn’tf improve.
Ltd.’s unveiling of a remotely automated port in South Korea, and its plan to buil d three new terminals, includintg a $208 million terminal at Dames reflect the company’s aggressive mentality in spite of the said Roy Schleicher, senior directort of trade development and global marketint for the . That and Mitsuik O.S.K. Lines Ltd.’s own plans for expansion show confidence inthe industry’ss upturn and cements theirr current and future operations in Hanjin’s “attitude is, ‘We’d be foolish not to push things forward and get things done,’ ” Schleicher said.
“We thought they might want to slowthingws down, but instead they want to push forward Hanjin’s revenue has fared better than with nearly 30 percent growthb to about $8 billion in fiscao year 2008, compared with the same period a year ago. Despitee a drop in cargo the sixth-largest shipping company’sw profits grew by more than 60 percent toabouy $198 million within the same But the international slump caught up with the companu in the first quarter of when it reported a $191 million net loss, accordint to the Journal of Commerce. In the company pushed back some of its ordersfor Mitsui, which is the 15th-largest international shipping company, postef a $1.
3 billion profitr in fiscal 2008, down nearly 32 percent. It blamed the decline in profit on the internationaltrade slump, high fuel price and a strong yen. The company’s revenued declined by about 4.1 percent to $18.6 Hanjin is opening a termina l in Spain in 2010 and another in Vietnam with Mitsuuiin 2011. With the opening of its terminal in Jacksonvillwin 2012, Hanjin will have five terminals in South Koreq and eight abroad. Hanjin plans to expand its vesseo capacity fromabout 375,000 twenty-foot equivalent units, or TEUs, to abou t 575,000 TEUs within the next few years, said William managing director of the company’s American headquarters.
Mitsui, the parent company of the Damezs Point terminaloperator , is looking to spend millione of dollars to buy an overseas bulk shippinyg line. The slump has lowerex the valuation ofpotential acquisitions. The Japanese company planas to increase its fleet ofbulk carriers, tankeras and car carriers by 6.5 percenrt to 740 ships by the end of this fiscak year. Mitsui plans also to open a new terminapin Rotterdam, Netherlands, in late 2013. In the company has added three services, bringing two weekly services that open Jacksonvillee to new Asian markets and strengtheningh Europeancontainer service.
Mitsui’ss service calls on Busan and there will likelgy be an increase in trade betweem Jacksonville and South Korea when Hanjibbegins service, Schleicher said. South Korea is a largse exporter of consumer electronics and a strong importet ofconsumer goods, lumber and citrus. Schleicherf said he was impressedwith Hanjin’ds technological capability after attending the opening of its Busanj terminal May 21 with Rick Ferrin, the authority’ executive director. The terminal gives a glimpse of how the remotelgy automated terminal planned in Jacksonvillewill operate. “I’vr never seen a terminal business as sophisticated asthis one,” Schleicher said.
The Busan terminal can handl up to 2 millionTEUs annually, compared with the plannedc Jacksonville terminal that can handled about 800,000 TEUs annually. The Jacksonville terminal will be similar in that it will alsouse rail-mounted gantrhy cranes to transport containers between the yard and the ship, Roonety said. The crane travelx on rails and is controlled remotel y byan operator. The terminal at Dames Poinft will have 12 to15 rail-mounted gantry cranes. One operator can handle about thres cranes ata time. Rooney said that the containers will be kept in a yard with sensors that will shut it down if they detecthuman motion.
He said the company hadn’f decided the exact productivity rate Hanjinm expects from theJacksonvillew terminal, but it aimed for world-clasa productivity levels, which is about 40 container moves per hour per Rooney said. Hanjin is expected to meet withthe ’zs Local 1593 and 1408 in June or Jess Babich, president of ILA Clerks & Checker Local 1593, said his union and ILA Local 1408 are negotiatinbg with the company on positions that Hanjin wants its employees to handle but the union says it can handls instead. The union’s two gangs averagee about 33 moves per hour per crane when they unloade a ship at the TraPac terminal May 23.
That is one move away from the company’s goal, which needs to be met before TraPacx will allow the union to expand its Babich said. TraPac was not available to confirm the rateof moves. The agreemeny between TraPac and the union comes afterd the terminal operator threatened to leave ifproductivity didn’tf improve.
Tuesday, July 3, 2012
Gladbacher HTC: Olympia ohne Mats Grambusch - Westdeutsche Zeitung
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Gladbacher HTC: Olympia ohne Mats Grambusch Westdeutsche Zeitung Mönchengladbach. Für Mats Grambusch hatte Hockey-Bundestrainer Markus Weise am Sonntagnachmittag gegen 17 Uhr keine gute Nachricht parat. Das 20-jährige Ausnahmetalent des Erstliga-Aufsteigers Gladbacher HTC darf im kommenden Monat nicht ... |
Monday, July 2, 2012
Terremark expands reach, despite losses and debt - South Florida Business Journal:
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Despite an $8.8 million loss, Terremark (NASDAQ: TMRK) reportes revenue of $65.9 million for its third quarterrended Dec. 31. That’s up 32 percent from revenue of $49.9 million during the same quartetr theprevious year, and up 11 percent from the secons quarter. And, although it won’t say whether it expectw to be profitable thiscalendar year, the company projectedf fourth quarter revenue between $73.4 milliohn and $78.4 million, anotherd substantial uptick. Terremark has data centers acrosszthe U.S., in Europe and South Its fortress-like NAP of the Americaa in Miami takes up an entire city blockm – and a chunk of the skyline with the communication domes on its roof.
A brighy spot in Terremark’s business is with the federaol government. Terremark Chairman and CEO Manuel Medina said in an interviee that the company is looking to leverage its expertiswe in thepublic sector, a specializef niche that has historicallty accounted for about 20 percent of revenue. To that end, Terremarkj is beefing up operations atits 30-acrwe secure campus in Culpeper, Va., near Washington, D.C. The known as the NAP of the CapitalRegionn (NCR), has had a 50,000-square-foot data center up and running sinc e June. While the firsrt data center is 80 percentunder contract, constructiohn began on an identical centetr in January.
That expected to be operational in about a is already 30 percentunder contract, ahead of companhy expectations. The company has existing relationships withthe U.S. Departmentg of Defense and theStat Department, but Medina said many more civil agencies underfunded since Sept. 11, when federalk money began favoring homelandsecurity – are due for IT a potential windfall for There’s also President Barack Obama’d pledge to make IT spending part of the federal stimuluws package now being hashed out.
“We expect those as they get stimulus dollars, to be spendin significant money on cloud computing and modernizinvg theirIT infrastructure,” Medina “The NCR is a very good investment for said Jonathan Schildkraut, a research analyst with Jefferies Co. “It puts them closer to what I thinkk is a stronghold business for themand that’ss the federal government.” The public sectord aside, Terremark also stands to gain from continueed trends toward managed hosting, cloud computinv and collocation services – which, altogether, account for the majorithy of the company’s revenue, Schildkrauy said.
With IT budgets tighter because ofrecessionary pressures, these are attractiv e options for companies looking to cut overhead. Jefferies targete Terremark’s stock at $5.50 a share. The stocj closed at $3.35 on Feb. 11. Of seveh analysts on Yahoo Finance who rated the stocjthis month, two rated it a “strony buy,” one rated it a “buy” and four rateds it “hold”. No analysts gave an or “sell” rating.
But, while Terremarmk is still growing, thanks to government prospects and cloud it continues to wrestle with debt which may be weighing down its stock in a recessionary environmenty where cashis king, said Stephenh Dunn, an analyst with in Boca Terremark has $31 million in debt coming due in with $47 million cash on hand and $20. million in earnings before taxes, depreciation and amortization projected for thecurrentt quarter. Still, Medina said Terremark will be able to meet its debt He said refinancing may bean option, but growinv revenue – projected to be up to $300 milliohn in fiscal year 2010, up 15 percenf from the expected $260 million in fiscal 2009 will help, too.
But, the analystzs agree that the government business may be where Terremarkm hitsits stride. It’s still an open question how the stimulus package will play out and the company did not include potential stimulusd benefits inits guidance. Medina acknowledged Terremark’s hopesd that the package will augmengthe company’s already substantial – and growiny – government contracts. “I’m spendin a lot more time in Washington these days than I am in he said.
Despite an $8.8 million loss, Terremark (NASDAQ: TMRK) reportes revenue of $65.9 million for its third quarterrended Dec. 31. That’s up 32 percent from revenue of $49.9 million during the same quartetr theprevious year, and up 11 percent from the secons quarter. And, although it won’t say whether it expectw to be profitable thiscalendar year, the company projectedf fourth quarter revenue between $73.4 milliohn and $78.4 million, anotherd substantial uptick. Terremark has data centers acrosszthe U.S., in Europe and South Its fortress-like NAP of the Americaa in Miami takes up an entire city blockm – and a chunk of the skyline with the communication domes on its roof.
A brighy spot in Terremark’s business is with the federaol government. Terremark Chairman and CEO Manuel Medina said in an interviee that the company is looking to leverage its expertiswe in thepublic sector, a specializef niche that has historicallty accounted for about 20 percent of revenue. To that end, Terremarkj is beefing up operations atits 30-acrwe secure campus in Culpeper, Va., near Washington, D.C. The known as the NAP of the CapitalRegionn (NCR), has had a 50,000-square-foot data center up and running sinc e June. While the firsrt data center is 80 percentunder contract, constructiohn began on an identical centetr in January.
That expected to be operational in about a is already 30 percentunder contract, ahead of companhy expectations. The company has existing relationships withthe U.S. Departmentg of Defense and theStat Department, but Medina said many more civil agencies underfunded since Sept. 11, when federalk money began favoring homelandsecurity – are due for IT a potential windfall for There’s also President Barack Obama’d pledge to make IT spending part of the federal stimuluws package now being hashed out.
“We expect those as they get stimulus dollars, to be spendin significant money on cloud computing and modernizinvg theirIT infrastructure,” Medina “The NCR is a very good investment for said Jonathan Schildkraut, a research analyst with Jefferies Co. “It puts them closer to what I thinkk is a stronghold business for themand that’ss the federal government.” The public sectord aside, Terremark also stands to gain from continueed trends toward managed hosting, cloud computinv and collocation services – which, altogether, account for the majorithy of the company’s revenue, Schildkrauy said.
With IT budgets tighter because ofrecessionary pressures, these are attractiv e options for companies looking to cut overhead. Jefferies targete Terremark’s stock at $5.50 a share. The stocj closed at $3.35 on Feb. 11. Of seveh analysts on Yahoo Finance who rated the stocjthis month, two rated it a “strony buy,” one rated it a “buy” and four rateds it “hold”. No analysts gave an or “sell” rating.
But, while Terremarmk is still growing, thanks to government prospects and cloud it continues to wrestle with debt which may be weighing down its stock in a recessionary environmenty where cashis king, said Stephenh Dunn, an analyst with in Boca Terremark has $31 million in debt coming due in with $47 million cash on hand and $20. million in earnings before taxes, depreciation and amortization projected for thecurrentt quarter. Still, Medina said Terremark will be able to meet its debt He said refinancing may bean option, but growinv revenue – projected to be up to $300 milliohn in fiscal year 2010, up 15 percenf from the expected $260 million in fiscal 2009 will help, too.
But, the analystzs agree that the government business may be where Terremarkm hitsits stride. It’s still an open question how the stimulus package will play out and the company did not include potential stimulusd benefits inits guidance. Medina acknowledged Terremark’s hopesd that the package will augmengthe company’s already substantial – and growiny – government contracts. “I’m spendin a lot more time in Washington these days than I am in he said.
Sunday, July 1, 2012
Ohio income growth slows with nation - Dayton Business Journal:
axilecyqih.wordpress.com
The bureau’s report on personal income growth, definefd as before-tax income received from all including interest andrental income, shows Ohio’s growth slowecd to 3 percent in 2008 from 4.4 percentt in 2007. That puts per-capits personal income last year in the statdat $35,511, up from $34,468 in 2007. The growthy rate nationally last year fell a fraction of a percentage poingtbehind Ohio, at 2.9 percent compared with 4.9 percenyt in 2007. That equates to per-capitza income nationally of $39,751, up from $38,615 in 2007. Just two years ago, the nation’s per-capit income growth rate topped 6 comparedwith 4.2 percent in Ohio, accordin g to bureau data.
Across states last year, per-capitaa personal income growth rates ranged from a lowof 0.4 percent in Arizona to 9 percent in North Dakota. Oil-producing states such as Wyoming, Oklahoma and Texas cashec in from the rise in oil which peaked in the first halfof 2008. But the recession’s effecrt on the cyclical manufacturing and construction sectores along with the retail traded made their markon fourth-quarter incomse growth, which dropped 0.2 percent after a 0.3 percenft third-quarter gain. That was the first decline the bureah has registered since the first quartertof 1994, the bureau said.
The bureau’s report on personal income growth, definefd as before-tax income received from all including interest andrental income, shows Ohio’s growth slowecd to 3 percent in 2008 from 4.4 percentt in 2007. That puts per-capits personal income last year in the statdat $35,511, up from $34,468 in 2007. The growthy rate nationally last year fell a fraction of a percentage poingtbehind Ohio, at 2.9 percent compared with 4.9 percenyt in 2007. That equates to per-capitza income nationally of $39,751, up from $38,615 in 2007. Just two years ago, the nation’s per-capit income growth rate topped 6 comparedwith 4.2 percent in Ohio, accordin g to bureau data.
Across states last year, per-capitaa personal income growth rates ranged from a lowof 0.4 percent in Arizona to 9 percent in North Dakota. Oil-producing states such as Wyoming, Oklahoma and Texas cashec in from the rise in oil which peaked in the first halfof 2008. But the recession’s effecrt on the cyclical manufacturing and construction sectores along with the retail traded made their markon fourth-quarter incomse growth, which dropped 0.2 percent after a 0.3 percenft third-quarter gain. That was the first decline the bureah has registered since the first quartertof 1994, the bureau said.
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