FoxBusiness.com published this deansguide article 1-11-09 The Courier Newsmember of the Chicago Sun-Times News Group published this deansguide article 1-11-09 Post Tribunemember of the Chicago Sun-Times News Group published this deansguide article 1-11-09
California has 1 of the 5 highest unemployment rates in the country according to a new report from the Associated Press Ray Henry and Christopher Rugaber. The most telling factor is that each state has something in common “a heightened exposure to the root causes of this downward spiral.”
Factors in Common:
Auto Industry implosion
Financial Services meltdown
5 Worst States by Unemployment Numbers and Symptoms:
1. Michigan: Auto industry’s near collapse and uncertainty.
2. Rhode Island: Manufacturing decline and construction stoppages
3. South Carolina: Manufacturing decline, construction losses
A very telling fact is California’s unemployment rate of 8.4%, third highest in the nation, has been primarily due to the collapse of the real estate market. Nothing surprising in that statement but “in the year ending in November 2008,71 percent of the nonfarm jobs lost in California were housing-related.”
Reuters.compublished this deansguide article May 12, 2008
A monster 7.8 earthquake rocked central China killing an estimated 9,000 people, leaving 900 students trapped inside a school, and wreaking havoc. The quake centered in the hilly Sichuan region of China, was felt as far away as Thailand . In Beijing, according to Associated Press writer Christopher Bodeen, “80 percent of the buildings had collapsed in Sichuan province‘s Beichuan county after the quake.”
In addition, reports from state media out of China, report that a chemical plant in Shifang city had “cratered, burying hundreds of people and spilling more than 80 tons of toxic liquid ammonia from the site.”
Further reports are forth coming with the news a grim reminder of the realities faced in earthquake countries every day.
“A bankruptcy judge has denied a bid by 1031 Tax Group owner Edward Okun to back out of his deal to sell his collection of luxury items to repay some of the $150 million owed to creditors of his failed real estate tax shelter” according to Associated Press reporter Patrick Fitzgerald in his article “1031 Tax Group Owner Ed Okun Loses Court Bid to Keep Toys.”
What will the rest of this ongoing saga bring us? Only time will tell but as it stands now it has been a long and sad trail to recovering settlement monies that will never fully be restored to their rightful owners.