BauerFinancial is widely followed analyst of financial institutions. These are their latest ratings for locally-owned banks along the Panhandle: 5.0 Warrington Bank 5.0 First Navy Bank 5.0 Bank of the South 3.5…
Tag: Economy
Varona closes
This morning Robert DeVarona met with the employees of Varona’s and told them that Varona’s Restaurant had closed as of Saturday, December 6. Mr. DeVarona expressed his thanks for the community for…
PNJ editor explains further cuts
The executive editor of the Pensacola News Journal, Dick Schneider, explains in today’s edition the paper’s plans to make further cuts in its coverage. As some had predicted, the daily will shrink…
Bed tax may be raised
Get ready for a battle over tourism dollars. Bay County (Panama City Beach) is set to raise its bed taxes 2 cents which moves its rate to 5 percent. Okaloosa, Escambia and…
Saturn of Pensacola casuality of bailout?
The Big Three Automakers will be submitting this week to Congress their detailed plans on how they will use government funds to turnaround their companies. The New York Times reports that GM…
Shop Local
It’s time to think about something other than your shrinking stock portfolio, Sarah Palin’s glasses, the Obama family’s new dog and who is trying to block the Community Maritime Park now. Let…
Another mill shuts down
This one is in Panama City. According to the Herald Tribune, the Smurfit-Stone Container Corporation will suspend operations on Nov. 22. In March, the Panama City mill was named the 2007 containerboard…
Monroeville mill lays off 300
Georgia-Pacific will close its plywood mill north of Monroeville in mid-January, indefinitely laying off close to 300 workers. The lowest housing starts in more than 20 years were blamed for the idling…
Bush leads US into socialism
The federal government is now invested in the banking system, to the tune of $250 billion. For months, I’ve heard Republicans complain that Barack Obama would lead this country into socialism. However,…
Five reasons for economic woes
Robert Trigaux of the St. Pete Times came up with these five reasons for our current economic troubles: 1. Ratings chicanery by groups like Moody’s and Standard & Poor’s. Some of the…
Our entire economy is in danger
Those are the words of President George W. Bush who gave a remarkable address to the nation last night (Read more). After weeks of saying otherwise, Bush has raised the financial crisis…
U.N. worries about our economy
The Miami Herald reports Latin American leaders have urged the U.N. to create stronger international economic institutions to help ward off the worldwide impact of “freewheeling money-making” in our country that has…
Victim of economy slowdown
Miami Herald reports on how the slow economy – dare we say recession? – is hurting furniture stores. The plummeting housing market, credit crisis and declining consumer confidence have helped to put…
Inflation surges
Prices for the past year are rising at the fastest pace in 27 years. Labor Dept. reports wholesale inflation soared in July. Wholesale prices are up 1.2 percent in July, thanks to…
Moby fails to see how growth works
Mark O’Brien doesn’t understand how growth works. It’s this statement in his Sunday column that has got me thinking: The pooh-bahs of Pensacola can promote downtown all they want, but Nine Mile…
Okaloosa counts on military to weather recession
The Daily News reports a study released by Enterprise Florida concluded that military spending remains one of the state’s leading growth industries. It’s particularly valuable to Northwest Florida, where defense-related spending accounts…
Bush and GOP Congress killed US economy
There are some startling numbers that show how badly the Bush Administration and the GOP-controlled Congress hurt the US economy. Unlike Reagan, Bush and the GOP leaders cut taxes, but didn’t reduce…
Positive Business News
Two positive business items this week: High-Tech Business Park – County and City leaders agree to move ahead. Could create 1000 jobs for area. Strategic Health Intelligence Summit – The Chamber hosted…
2006 CAFR report is in
CAFR stands for “Comprehensive Audited Financial Report.” It’s available online at Escambia County Clerk of Courts site. Some interesting finds: Unreserved General Fund has jumped from $15.14 million in 2002 to $36.56…