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STATE FARM TO STOP PROVIDING PROPERTY INSURANCE (USA)

Posted by Gilmour Poincaree on January 28, 2009

January 27, 2009

by Russel Ray – The Tampa Tribune

PUBLISHED BY ‘THE TAMPA BAY ONLINE’ (USA)

State Farm, the STATE FARM INSURANCEsecond-largest property insurer in Florida, said today that it will stop providing property insurance statewide, a move that would affect more than 1 million policyholders.

State Farm’s plan to drop policyholders was submitted to the Office of Insurance Regulation, which has 90 days to review the proposal.

“Nothing will happen until that review is complete,” said State Farm spokesman Chris Neal.

The plan calls for dropping policyholders over a two-year period beginning in November. State Farm has nearly 100,000 homeowner policies in Hillsborough and Pinellas counties.

The move comes two weeks after Florida Insurance Commissioner Kevin McCarty rejected State Farm’s request to raise rates 47 percent on average statewide.

State Farm said operating costs have risen along with the number of claims. What’s more, the insurer said state-mandated discounts for homeowners who strengthen their homes against hurricanes have slashed the company’s revenues.

“This is not an action we wanted to take, but one we must take given the realities of the Florida property insurance market,” Jim Thompson, president of State Farm Florida, said in a statement. “We regret the impact this will have on our customers, employees and agents in Florida.”

Kevin McCarty

The move comes after Florida Insurance Commissioner Kevin McCarty recently rejected State Farm’s request to raise rates 47 percent on average statewide.

The cancellation of more than 1 million policies could deepen Florida’s insurance crisis and is sure to increase the policy count at state-run Citizens Property Insurance Corp., the state’s so-called insurer of last resort and the largest property insurer in the state.

“We have been hearing for months of possible plans to make such a move in Florida,” McCarty said in a statement. “I will do everything within my power to protect Florida consumers from unnecessary destabilization of the insurance market that this might cause.”

Reporter Russell Ray can be reached at (813) 259-7870

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PUBLISHED BY ‘THE TAMPA BAY ONLINE’ (USA)

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Posted in BANKING SYSTEM - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIES - USA, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

SETOR HABITACIONAL ESPERA, OTIMISTA, PACOTE DE INCENTIVO (Brazil)

Posted by Gilmour Poincaree on January 27, 2009

Segunda-feira, 26 de Janeiro de 2009 11:12

por Fernanda Mathias

PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

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PUBLISHED BY ‘CAMPO GRANDE NEWS’ (Brazil)

Posted in BANKING SYSTEMS, BRASIL, COMÉRCIO - BRASIL, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FINANCIAMENTO IMOBILIÁRIO, FLUXO DE CAPITAIS, INDÚSTRIA DA CONSTRUÇÃO CIVIL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, O MERCADO FINANCEIRO, O PODER EXECUTIVO FEDERAL, O SISTEMA BANCÁRIO - BRASIL, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), PUBLIC SECTOR AND STATE OWNED ENTERPRISES, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

AUSTRALIAN HOUSING BUBBLE ‘YET TO BURST’ – AN INTERNATIONAL GROUP HAS PREDICTED THAT THE HOUSING BUBBLE IN AUSTRALIA IS YET TO BURST

Posted by Gilmour Poincaree on January 26, 2009

January 26, 2009

Australian Associated Press

PUBLISHED BY ‘THE AUSTRALIAN’

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PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

OCEAN BANK SEEKS FORECLOSURE ON TWO MIAMI-DADE DEVELOPERS (USA)

Posted by Gilmour Poincaree on January 24, 2009

Friday, January 23, 2009, 10:29am EST

South Florida Business Journal – by Brian Bandell

PUBLISHED BY ‘THE ATLANTA BUSINESS JOURNAL’ (USA)

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PUBLISHED BY ‘THE ATLANTA BUSINESS JOURNAL’ (USA)

Posted in BANKRUPTCIES - USA, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, USA | 2 Comments »

LYNNWOOD SHOPPING CENTER SELLS FOR $15M (USA)

Posted by Gilmour Poincaree on January 24, 2009

Friday, January 23, 2009, 11:34am PST

Puget Sound Business Journal

PUBLISHED BY ‘THE PUGET SOUND BUSINESS JOURNAL’ (USA)

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PUBLISHED BY ‘THE PUGET SOUND BUSINESS JOURNAL’ (USA)

Posted in BANKING SYSTEM - USA, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

30-YEAR MORTGAGES AGAIN ABOVE 5% (USA)

Posted by Gilmour Poincaree on January 24, 2009

Fri, Jan. 23, 2009 12:30AM

The Associated Press

PUBLISHED BY ‘THE NEWS&OBSERVER’ (USA)

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PUBLISHED BY ‘THE NEWS&OBSERVER’ (USA)

Posted in BANKING SYSTEM - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, USA | Leave a Comment »

GE PROFIT DROPS 46 PCT AS FINANCE UNIT STRUGGLES (USA)

Posted by Gilmour Poincaree on January 24, 2009

Fri, Jan. 23, 2009 06:19 AM

by Stephen Manning – Associated Press Business Writer

PUBLISHED BY ‘THE KANSAS CITY STAR’ (USA)

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PUBLISHED BY ‘THE KANSAS CITY STAR’ (USA)

Posted in BANKING SYSTEM - USA, COMMERCE, COMMODITIES MARKET, COMMUNICATION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ELECTRIC / ELECTRONIC INDUSTRIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, STOCK MARKETS, THE FLOW OF INVESTMENTS, USA | Leave a Comment »

KEEPING HOUSES, OWNERS TOGETHER – A NEW JERSEY PROGRAM AIMED AT PREVENTING FORECLOSURES WAS FLOODED WITH CALLS IN ITS FIRST WEEK (USA)

Posted by Gilmour Poincaree on January 23, 2009

Fri, Jan. 23, 2009

by Adrienne Lu – Inquirer Trenton Bureau

PUBLISHED BY ‘PHILADELPHIA DAILY NEWS’ (USA)

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PUBLISHED BY ‘PHILADELPHIA DAILY NEWS’ (USA)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION | Leave a Comment »

FORMER STATE SEN. VINCENT J. FUMO (DEMOCRATIC PARTY) LOSES APPEAL OF HIS HOME ASSESSMENT (USA)

Posted by Gilmour Poincaree on January 23, 2009

Fri, Jan. 23, 2009

Joseph Tanfani – Inquirer Staff Writer

PUBLISHED BY ‘PHILADELPHIA DAILY NEWS’ (USA)

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PUBLISHED BY ‘PHILADELPHIA DAILY NEWS’ (USA)

Posted in BANKING SYSTEMS, CORRUPTION, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL SERVICES INDUSTRIES, FRAUD, HOUSING CRISIS - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, USA | Leave a Comment »

INDÚSTRIA DA CONSTRUÇÃO TERÁ MENOS PRESSÃO COM REDUÇÃO DOS JUROS (Brazil)

Posted by Gilmour Poincaree on January 22, 2009

Quinta-feira, 22/01/2009 – 10:10

Jornal da Mídia

PUBLISHED BY ‘JORNAL DA MÍDIA’ (Brazil)

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PUBLISHED BY ‘JORNAL DA MÍDIA’ (Brazil)

Posted in BANCO CENTRAL - BRASIL, BRASIL, CEMENT, CENTRAL BANKS, CONSTRUCTION INDUSTRIES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FLUXO DE CAPITAIS, INDÚSTRIA DA CONSTRUÇÃO CIVIL, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, O MERCADO FINANCEIRO, O PODER EXECUTIVO FEDERAL, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STATE TARIFFS, TAXA SELIC, THE FLOW OF INVESTMENTS | 1 Comment »

UP GOVT. TO AID DEVELOPERS IN NOIDA (India)

Posted by Gilmour Poincaree on January 22, 2009

22 Jan 2009, 1337 hrs IST

ET Bureau

PUBLISHED BY ‘ECONOMIC TIMES’ (India)

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PUBLISHED BY ‘ECONOMIC TIMES’ (India)

Posted in BANKING SYSTEMS, CEMENT, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIAL SUBSIDIES, INDUSTRIES, INTERNATIONAL, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS | Leave a Comment »

MUSTAPHA KAMAL-RELATED COMPANY BUYS LAND FROM MK FOR RM150M (Malaysia)

Posted by Gilmour Poincaree on January 21, 2009

Wednesday January 21, 2009 MYT 8:53:00 AM

Thje Star

PUBLISHED BY ‘THE STAR’ (Malaysia)

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PUBLISHED BY ‘THE STAR’ (Malaysia)

Posted in BANKING SYSTEMS, COMMERCE, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIES, INTERNATIONAL, MALAYSIA, REAL ESTATE INDUSTRIES, RECESSION, THE FLOW OF INVESTMENTS | Leave a Comment »

CALIFORNIA WOMAN SENTENCED IN REAL ESTATE SCHEME (USA)

Posted by Gilmour Poincaree on January 21, 2009

Jan 20, 2009 7:27 PM

Associated Press

PUBLISHED BY ‘THE EXAMINER’ (USA)

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PUBLISHED BY ‘THE EXAMINER’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, CRIMINAL ACTIVITIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SCAMS, FINANCIAL SERVICES INDUSTRIES, FRAUD, HOUSING CRISIS - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS | Leave a Comment »

TWIN CITIES COMMERCIAL REAL ESTATE MARKET DIPS INTO A DECLINE – A YEAR-END REPORT BY NORTHMARQ SHOWED A GROWING OVERALL TWIN CITIES VACANCY RATE – AND NOT BECAUSE OF NEW BUILDINGS (USA)

Posted by Gilmour Poincaree on January 20, 2009

January 19, 2009 – 8:49 PM

by Susan Feyder – Star Tribune

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE STAR TRIBUNE’ (USA)

Posted in BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, USA | Leave a Comment »

NEW PROPERTY GIANT ON THE WAY (South Africa)

Posted by Gilmour Poincaree on January 17, 2009

16 January 2009

by Loyiso Sibali

PUBLISHED BY ‘BUSINESS DAY’ (South Africa)

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PUBLISHED BY ‘BUSINESS DAY’ (South Africa)

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, REAL ESTATE INDUSTRIES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, SOUTH AFRICA, THE FLOW OF INVESTMENTS | Leave a Comment »

HOME FORECLOSURE PROCEEDINGS RISE 81 PERCENT IN US – FORECAST: ONE RESEARCH FIRM PREDICTED THE NUMBER OF FORECLOSED HOMES WOULD LIKELY RISE BY 18 PERCENT THIS YEAR BEFORE TAPERING OFF SLIGHTLY THROUGH 2011

Posted by Gilmour Poincaree on January 16, 2009

Friday, Jan 16, 2009

Associated Press – WASHINGTON

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, REAL ESTATE INDUSTRIES, RECESSION, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, USA | Leave a Comment »

PLEA FOR £50M TO SAVE FOXTONS (UK)

Posted by Gilmour Poincaree on January 12, 2009

Sunday 11 January 2009

by Richard Wachman – The Observer

PUBLISHED BY ‘THE GUARDIAN’ (UK)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, REAL ESTATE INDUSTRIES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, STOCK MARKETS, THE FLOW OF INVESTMENTS, UNITED KINGDOM | Leave a Comment »