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Category Archives: – 1 The Good News and Greer Report
The Sound and the Fury
On the evening of November 9th, at the corner of Battery Place and West Thames, construction crew began to jackhammer up a ditch in the road related to Con Edison gas lines. The work was non-emergent. The crew foreman claimed … Continue reading
The number of people living in poverty soar
October 20, 2009 A new report out indicates that the real number of people living in poverty is far great than the government estimates. Covering the story, ABC Nightly News featured a Los Angeles shelter becoming overwhelmed with homeless. See … Continue reading
Good news for the NYC economy soon?
October 14 It is being reported that Wall Street is expected to pay out the largest total in salaries ever: more than $140 Billion. This will, of course, directly impact the struggling NYC economy. (more…)
The commercial real estate bubble
October 6 The other shoe to drop for New York City will be the massive rate of defaults on commercial real estate loans. Up to a trillion dollars in loans could go unpaid within the next year or two. Will … Continue reading
More evidence of a commercial real estate shoe yet to drop
October 13 The WSJ has an interesting article about how hotels were caught at the worst time taking out large loans to renovate right before the economic collapse of lat 2007 through 2009. They focus on the Hawaiian hotel market … Continue reading
More trouble in the high-end restaurant business
October 7, 2009 The Tribeca Trib is reporting that famed chef David Bouley has not paid rent on one of his buildings that was supposed to be a restaurant but was cancelled due to the NYC depression. In addition, one … Continue reading
Art on the walls of closed retail shops
October 12, 2009 The NY Times has a story about how so many ground level retail stores are empty in NYC that the landlords have turned to painting art on the walls to downplay the depressing sights. (more…)