Evidence of Permanent Decline in Construction

February 2, 2011 Leave a comment

Florida saw one of the heftiest declines in populations of illegal immigrants in the nation in the last three years, likely because of a drought of jobs, says a report released Tuesday.

In 2007, an estimated 1.05 million illegal immigrants lived in Florida. That total dipped to 825,000 in 2010, according to the Pew Hispanic Center, a Washington-based research organization.

via Jobs, Florida’s illegal immigrants disappear | The News-Press | news-press.com.

Filed under Business and Commerce

Bank of Coral Gables Still Needs Capital

January 31, 2011 Leave a comment

A $2 million capital infusion from its shareholders made up for a fourth quarter loss at Bank of Coral Gables, but the contribution was not enough to help the bank regain “well capitalized” status.

The $152 million-asset bank remained “adequately capitalized” because it could not meet the higher capital ratio requirements that regulators imposed on the bank in a March 2010 enforcement action.

The bank improved its Tier 1 capital ratio to 6.29 percent as of Dec. 31, from 6.67 percent as of Sept. 30. Its total risk-based capital ratio improved to 10.75 percent from 10.34 percent. However, regulators demanded that those ratios reach 8 percent and 12 percent, respectively.

If it wants to be considered a “well capitalized” bank and avoid further regulatory action, it looks like Bank of Coral Gables needs to bring in a larger piece of capital.

via Capital infusion not enough for Bank of Coral Gables | South Florida Business Journal.

Filed under Business and Commerce, Coral Gables

Carbon Emissions in the Recession

January 31, 2011 Leave a comment

Because of emerging country growth, the great recession did not cut carbon emissions.  These data are an interesting view of the future.

The deepest recession since the 1930s has failed to reverse rising global carbon emissions, as plummeting industrial output in the west was offset by the continuing rapid expansion of China and a handful of other emerging economies, new statistics for 2009 show.

While US emissions fell substantially in 2009, to levels not seen since 1995-96, China surged ahead with an increase of more than 13% on the previous year – the equivalent of adding the yearly emissions of Germany, Greece and Peru combined.

Europe, Russia, Canada and South Africa saw their emissions dip, and India has risen to third place in the league table, with the strong growth in its carbon output driven by a ramping-up of coal burning to generate power.

via Energy and global warming news for January 31, 2011: Deep recession fails to reverse rising global emissions, as China’s CO2 surges 13%; Eco-friendly 7-Elevens « Climate Progress.

Filed under Climate Change

Great Analysis of Florida Development Culture–What Went Wrong and Who Pays The Price

January 31, 2011 Leave a comment

…the land use policies and politics of the late, great boom originated in South Florida, where an earlier generation of entrepreneurs had figured out the components of scalable housing developments that characterize the built landscape: condominiums on the ocean front and platted subdivisions in the ring suburbs. Although the conclusions of the Financial Crisis Inquiry Commission, issued last week, are unsurprising– namely that the crisis was avoidable– the mainstream media continues to avoid the closer analysis of what I describe as the Growth Machine: the network of local real estate speculators, lobbyists, mortgage and title companies, engineers, and politicians who facilitated first the massive overdevelopment of South Florida and then its inevitable collapse.

via EYE ON MIAMI.

Filed under Coral Gables, Florida, Housing

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