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Credit News

Louisiana Updates

FoxBusiness.com - 7/28/10
Economic Impact From Gulf Spill Could Last Decades
One hundred days after the Deep Horizon oil well exploded off the coast of Louisiana, the economic impact has been devastating to those whose livelihoods depend on the Gulf of Mexico.

Consider Louisiana alone. Louisiana is the top U.S. provider of shrimp, oysters, crab and crawfish. Its shellfish comprises one-third of all the seafood consumed in America. The shellfish industry adds $2.4 billion a year to Louisiana's economy, according to the Louisiana Seafood Promotion & Marketing Board, and accounts for one of every 70 jobs in the state. - Dunstan Prial - (Read more)

NACM eNews Updates (newsletter)

Featured Stories - 7/2/10
Two Words from Bernanke, Lackluster Regional Roundup Shake Confidence in Recovery
In many circles, former Federal Reserve Chairman Alan Greenspan was defined by and/or mocked for using the word "frothy" to describe the overheated housing market's fueling of the economy last decade. His successor, who remains keenly concerned about ongoing small businesses and commercial real estate problems, may now find himself defined by two: "unusual uncertainty."

The two words were the primary talking point coming out of Fed Chairman Ben Bernanke's presentation of the "Semiannual Monetary Policy Report to the Congress" before the Senate Banking Committee on July 21. Such "unusual uncertainty" was the trigger behind scaled-back economic projections of the already tepid recovery's strength by the Fed and many non-agency analysts. Bernanke noted small businesses have been "particularly hard hit" among ongoing overall economic struggles because of factors such as tight credit standards, newer regulations that are better suited for large banks and ongoing elevated unemployment levels. He again talked of the more than 40 meetings Fed officials have had with small businesses and lenders in recent months in an attempt to help matters. (Read Moore)