Via The Oil Drum: Today’s chart provides some perspective on the current earnings environment by focusing on 12-month, as reported S&P 500 earnings. Today’s chart illustrates how earnings are expected (38% of S&P 500 companies have reported for Q2 2009) to have declined over 98% since peaking in Q3 2007, making this by far the […]
100 Abandoned Houses: Photographs of Detroit Paul Kedrosky crunches numbers from Bloomberg and makes them far more astounding: According to the latest data, the number of vacant U.S. homes touched 18.7-million in the second quarter. That is a daunting figure, of course, but it is more fun to put it in context. Assuming four people […]
The weak economy is taking its toll, with an increasing number of bodies in Los Angeles County being cremated at taxpayers’ expense. By Molly Hennessy-Fiske The poor economy is taking a toll even on the dead, with an increasing number of bodies in Los Angeles County going unclaimed by families who cannot afford to bury […]
By Roland Buerk, Tokyo correspondent, BBC News, Choshi Few industries have been immune to the worldwide collapse in demand, and the fishing industry in Choshi in Japan has been no exception. The high price of fuel drove some boats out of business. Then with the downturn, came a decline in the exports of fish. … […]
…Nearly 16% of office space in Los Angeles County is sitting vacant as tenants close up shop or move out of expensive properties. Nearly a third of the space around up-market Playa Vista sits empty; office buildings in the Inland Empire and parts of Orange County are completely vacant. … Commercial brokers are swimming in […]
Southeast Mich. construction permits in ’08 see sharpest decline in 50 years Christina Stolarz / The Detroit News It’s no surprise that the region’s housing market has taken a hit. But for the first time since 1981, the permits for new home construction were outstripped by the number of units torn down. On top of […]
July 16 (Reuters) – Following is a list of some of the oil and gas projects and oil refinery expansion plans that have been delayed or cancelled so far in 2009. The global financial crisis, falling oil demand, a slide in prices and poor general market conditions have prompted many in the industry to scale […]
By JULIET WILLIAMS SACRAMENTO, Calif. (AP) — Gov. Arnold Schwarzenegger told state employee unions Tuesday his administration would cut another 2,000 jobs to help close California’s $26.3 billion budget deficit. Meanwhile, Moody’s Investor Services downgraded California bonds to near-junk status, from A2 to Baa1, and placed the state’s credit rating on watch for possible further […]
From Calculated Risk: This graph shows Capacity Utilization. This series is at another record low (the series starts in 1967). In addition to the weakness in industrial production, there is little reason for investment in new production facilities until capacity utilization recovers. … Industrial Production Declines, Capacity Utilization at Record Low in June Technorati Tags: […]
Oil consumption in the US decreased by 480,000 b/d from March to April to a level of 18.26 million b/d. Average consumption of oil in the US in 2009 up to April was 18.69 million b/d, versus 19.50 and 20.70 million b/d in respectively 2008 and 2007. … Oilwatch Monthly – July 2009 Technorati Tags: […]
