Category Archives: Economy

Road Closings, Lowndes County, Georgia

Roads closed in Lowndes County, Georgia, as of 9:38 a.m April 6th, according to the Valdosta Daily Times. This map shows locations and terrain. It’s a Google map, so it’s interactive: you can zoom and pan and change to satellite view, street map, street view, etc. Some of the locations are guesstimates from the cryptic descriptions in the VDT article. The one green blob is the one reopening mentioned in the article: “North Valdosta Road Withlacoochee River Bridge opened at 10 p.m. Sunday.”


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Lowndes County state of emergency; Valdosta flooded

County Chairman declares emergency so county can use local ordinances.

Valdosta flooded; residents canoing around streets.

I wonder if anybody will draw a connection between all the tree cutting and paving of recent years and this flooding, which is at least partly due to increased runoff because of those things.

Valdosta Cutting Back

On the same day a VDT editorial said “NO!” to any negative talk about the local economy, the VDT published this:
Published March 05, 2009 12:40 am –

Valdosta deals with economic downturn
Hiring freeze, possible furloughs part of the plan
By Matt Flumerfelt
The Valdosta Daily Times

VALDOSTA — The city of Valdosta recently announced it is taking measures to compensate for declining revenues. Among the steps considered at the city’s recent annual planning retreat to adjust to the revenue shortfall is a hiring freeze on new positions and possibly furloughing some city employees.

“The city of Valdosta is experiencing the same effects from the economic downturn that all other governments and businesses are experiencing,” said Valdosta City Manager Larry Hanson. “The unemployment rate in Valdosta and Lowndes County has nearly doubled over the last 18 months. That means revenues such as sales tax have decreased.”

There’s more, all well worth reading.

That the city was retrenching was no secret to anyone who attended the mayor’s state of the city address, but apparently the degree has increased since then.

Neighborhood Watches Good in Bad Economy

Speed Limit 35 Neighborhood Watch CNN has an interesting interactive graphic about house safety:
When the economy goes down, crime often rises, says Al Lenhardt, CEO and president of the National Crime Prevention Council.
Lenhardt sums it up:
They reduce crime and they reduce the fear of crime …. It’s the golden rule — watching out for others.
Although it’s not well known, Lowndes County, Georgia does have a neighborhood watch program (see picture of a sign), as do some of the cities in it, including I think Valdosta and Hahira.

Whole cities and metro regions became giant Ponzi schemes

Richard Florida writes in The Atlantic about How the Crash Will Reshape America:

To an uncommon degree, the economic boom in these cities was propelled by housing appreciation: as prices rose, more people moved in, seeking inexpensive lifestyles and the opportunity to get in on the real-estate market where it was rising, but still affordable. Local homeowners pumped more and more capital out of their houses as well, taking out home-equity loans and injecting money into the local economy in the form of home improvements and demand for retail goods and low-level services. Cities grew, tax coffers filled, spending continued, more people arrived. Yet the boom itself neither followed nor resulted in the development of sustainable, scalable, highly productive industries or services. It was fueled and funded by housing, and housing was its primary product. Whole cities and metro regions became giant Ponzi schemes.
 

Phoenix, for instance, grew from 983,403 people in 1990 to 1,552,259 in 2007. One of its suburbs, Mesa, now has nearly half a million residents, more than Pittsburgh, Cleveland, or Miami. As housing starts and housing prices rose, so did tax revenues, and a major capital-spending boom occurred throughout the Greater Phoenix area. Arizona State University built a new downtown Phoenix campus, and the city expanded its convention center and constructed a 20-mile light-rail system connecting Phoenix, Mesa, and Tempe.

And then the bubble burst. From October 2007 through October 2008, the Phoenix area registered the largest decline in housing values in the country: 32.7 percent. (Las Vegas was just a whisker behind, at 31.7 percent. Housing in the New York region, by contrast, fell by just 7.5 percent over the same period.) Overstretched and overbuilt, the region is now experiencing a fiscal double whammy, as its many retirees—some 21 percent of its residents are older than 55—have seen their retirement savings decimated. Mortgages Limited, the state’s largest private commercial lender, filed for bankruptcy last summer. The city is running a $200 million budget deficit, which is only expected to grow. Last fall, the city government petitioned for federal funds to help it deal with the financial crisis. “We had a big bubble here, and it burst,” Anthony Sanders, a professor of economics and finance at ASU, told USA Today in December. “We’ve taken Kevin Costner’s Field of Dreams and now it’s Field of Screams. If you build it, nobody comes.”