According to an article in the Dallas Morning News, the Treasury Department is providing a $5 billion bail out to nearly bankrupt auto parts suppliers who are dependent on Ford, GM and Chrysler automakers. The article said: The program will be run through U.S. automakers - General Motors, Chrysler and Ford Motor Co. - that [...]
According to an article in the Dallas Morning News, retail sales fell in February by 0.1 percent, less severe than the 0.5 percent drop predicted by analysts. Although the government revised January's retail sales performance by reporting a 1.8 percent increase in sales, many analysts do not expect a sustained rebound in retail sales. The [...]
According to an article in the Star-Telegram, the once-planned condo tower in City Place in downtown Fort Worth is up for sale. The project's develop was suspended when credit availability dried up last year during the onslaught of foreclosures that shook up the financing industry. The article said: Initially, plans called for 350 condos, but [...]
According to an article in the Star-Telegram, over 8.6 million Americans work part-time because they can't find full-time work, that's the largest number of part-time workers ever recorded, a 76 percent increase from 2008. The article said: As the recession cuts demand for goods and services, companies that don't shed workers outright must squeeze savings [...]
According to an article in the Dallas Morning News, a refundable first-time homebuyer tax credit of up to $8,000 featured in the American Recovery and Reinvestment Act may boost the nation's housing market; but we're not so sure. The article said: "We think this year's tax credit will certainly have a much bigger impact because [...]
According to an article in the Dallas Morning News, Texas Governor Rick Perry is considering not accepting stimulus money that would require him to expand the unemployment insurance program making more unemployed workers eligible for the program benefits. Perry argues that the program would expand unemployment eligibility; but once the stimulus money is exhausted, Texas [...]
According to an article in the Star-Telegram, the Obama Administration's new budget may be painting an unrealistically "rosy" picture instead of showing the true costs of government programs and proposed tax cuts. While the administration predicts that the deficit will decline to $1.17 trillion and that the overall economy will grow by 3.2 percent in [...]
According to an article in the Dallas Morning News, commercial real estate sales in the Dallas-Fort Worth area have fallen to their lowest levels on record. In 2008 only 1,434 commercial buildings and land were sold, a 32 percent drop since 2007. Apartment buildings sales also plunged 58 percent in 2008 as more lenders withheld [...]
According to an article in the Star-Telegram, more and more homeowners are paying their property taxes by taking out a loan with a third-party lender. According to the article the number of homeowners who used third-party lenders to pay their property taxes went from 1,206 in 2007 to 1,839 in 2008, a 41 percent increase. [...]
According to an article in the Star-Telegram, the recession gripping the nation is predicted to worsen, with job losses, bankruptcies and foreclosures reaching record numbers even with the stimulus package pumping billions into the economy. The article said: The country stands to lose a sizable chunk of economic activity in 2009 as consumers at home [...]