The Economy

Today, the labor department reported that the US lost jobs for the first time in 4 1/2 years. A big chuck of those lost jobs came form the construction industry. Not suprising, considering the news as of late.

Depending on who you ask, the economy is either in a recession or nearing a recession. To make things more interesting, thanks to the subprime meltdown, banks as tightening their lending standards. The timing could not be worse as this will most definitely affect businesses. It will appear that we area heading for some more troubles.

Many people believe that factoring companies do very well in recessions. My take? I dont know. Factoring certainly become more appealing when banks are not lending cash. At the same time, many factoring companies depend on banks for their financing as well.

Who knows?

Note we have some new articles are page 1, page 2, page 3, page 4, page 5 and page 6.