Commercial bankruptcies soar, reflecting widening economic woes
(mcclatchydc.com)Search
2008-07-19
Commercial filings for the first half of 2008 are up 45 percent from last year, as the national climate for commerce continues to deteriorate amid rising energy and food costs, mounting job losses, tighter credit and a reticence among consumers to part with discretionary income.
Not a surprise -- we've been expecting this for at least two years (ever since the plummeting of housing starts signaled the recession).
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