SCORECARD
2009 Global Economic Outlook
- The global economy is sick and the prognosis for
2009 is gloomy at best. The United States and much
of the EuroZone are expected to be in a recession next
year, while the Asian and Latin American economies
will slow significantly, according to global economists.
- "2009 is going to be a year where we need to wear
our hard hats," says Sean O'Dowd, a senior capital
markets analyst with Boston-based consulting firm
Financial Insights. "We're going to take some artillery
fire - it's going to be a nasty fight."
- As the financial crisis intensified during the latter
part of the third quarter and into the fourth quarter, the
availability of credit around the world was severely
diminished. This lack of credit has slowed spending
in advanced countries and caused foreign investment
in poorer nations to dry up.
- "The countries that have the bigger debt loads are
going to get hit harder during this recession," says
Thomas Hall, Ph.D. and professor of economics at
Miami University in Oxford, Ohio.
- While economists believe the worst of the financial
crisis and capital markets panic has ended, the
damage to the global economy has been done. "The
word 'credit' is derived from the Latin word meaning
trust and people today have a lack of trust that they're
going to be paid back," says Ray Torto, global
economist with CB Richard Ellis. "It's a huge crisis of
confidence, and we have to address that before the
economy will improve."
- The International Monetary Fund (IMF) slashed its
2009 global forecasts in mid-November and now
predicts contractions in GDP in the world's most
developed economies. The IMF expects the world's
largest economy, the U.S., to contract by 0.7 percent in
2009.
- And, the IMF's new projections for Europe are even
gloomier than the European Commission's 0.2
percent growth forecast for 2009. EuroZone growth
has been revised downward to -0.5 percent from 0.2
percent. The slowdown in Europe is expected to be
widespread, with GDP expected to dip in Germany,
France, Italy, and Spain.
- Across the globe, confidence is severely shaken,
and it may never fully recover, experts warn. That
means both consumers and businesses are
increasingly risk averse and will do all they can to
avoid spending money.
- "Global businesses' sentiment has never been as
negative," says Mark Zandi, head economist at
Moody's Economy.com, referring to his organization's
Survey of Business Confidence. "The financial panic
is too much for many businesses to bear." He
contends that the "collective psyche of global
businesses has been shattered by the ongoing
financial panic."
- The Survey of Business Confidence showed that
sentiment fell to another new low during the first week
of November. Even worse, sentiment is weak across
all industries. Across the globe, business confidence
was -22 percent in mid-November. To put that number
in context, readings between 25 percent and 30
percent are consistent with an economy that is
expanding at potential. Survey readings below 10
percent are consistent with recession. The all-time
peak was nearly 40 percent at year-end 2005.
- "Nearly all respondents think current conditions
are eroding and that they will not be any better six
months from now," Zandi says. "Pessimism regarding
the outlook is overwhelming."
- Below, the Global Real Estate Monitor tours the
globe and provides an economic forecast for 2009.
United States
- The U.S. economy has deteriorated significantly
under the weight of the financial turmoil, and experts
predict that the worst is still ahead. The U.S. economy
contracted during the third quarter 2008, and it is
expected to shrink in the fourth quarter as well. In
2009, there will be little or no growth, according to
experts.
- "The danger of a severe and protracted recession
is high and will be even higher without prompt and
forceful action by the federal government," Zandi says.
- Over the past year, real GDP has increased 0.8
percent, but it declined 0.3 percent in the third quarter,
slightly better than the consensus expectation for a 0.5
percent drop but still down from growth of 2.8 percent
in the second quarter. The U.S. economy is expected
to decline 2.2 percent in the fourth quarter, and Zandi
expects no growth in 2009, provided that another $300
billion stimulus package is passed. Otherwise, GDP
growth could be negative by as much as 2.5 percent.
- Meanwhile, experts predict the unemployment rate
will continue to rise into 2010, peaking near 8 percent.
The most recent numbers from the U.S. Bureau of
Labor Statistics show that unemployment was 6.5
percent in September 2008, the 10th straight month of
net job losses. Moody's Economy.com forecasts
employment to reach its cycle low in the third quarter
of 2009, and unemployment to touch its cycle high in
the first quarter of 2010.
- Even worse, consumers are tapped out, says
Nathaniel Karp, an economist with Birmingham, Ala.-
based Compass Bank. "Consumption is declining at
the highest rates in three decades," he notes, adding
that consumers are in one of the "worst situations"
they've ever been in.
- While inflation has been a concern over the past
12 months, deflation will be a larger concern in 2009.
To date, the U.S. has experienced only two periods of
deflation in the past century: a brief and relatively
painless episode in 1949 and during the Great
Depression from 1929 to 1933. During that four year
period, prices in the U.S. fell 23 percent, discouraging
spending and investment.
Latin America
- While commodity prices and demand for exports
to the U.S. are falling, domestic demand throughout
Latin America is rising. That means that most
countries are facing slower growth and weaker
currencies, but will manage to avoid a recession in
2009, experts forecast.
- Latin America will continue to slow, with regional
GDP moderating to 3.4 percent. All Latin American
countries will decelerate to 3 percent to 4 percent
except Mexico, which will grow by 1.5 percent to 2
percent in 2009. That compares to roughly 2.4 percent
this year.
- Mexico will be the slowest growing Latin American
country in the foreseeable future. Mexico's peso has
lost 15 percent of its value versus the dollar so far this
year, which normally boosts Mexican exports by
making them more competitive. Unfortunately, that will
not be the case in 2009 since the U.S. and Europe
both will have weak demand for imports.
- In macroeconomic terms, Brazil, Chile and Peru
will remain the strongest in the region, while the
weakest will be Argentina, Venezuela, and Colombia.
Brazil, which has experienced problems with inflation
in the past, will benefit from the swift and aggressive
action its central bank has taken including rate cuts
and the injection of massive liquidity into its banking
systems.
- Argentina's economy remains uncertain, primarily
because of issues related to the nationalization of
pensions. If nationalization passes the Argentine
Senate, then the country could use the $26 billion
gained from private pension funds to refinance its
debt and avoid default next year. However, in the
medium to long run, the nationalization of pensions to
pay off immediate debt obligations for 2009 would add
to an already-burdensome national debt.
- For its part, Venezuela's future is also uncertain.
The country's political environment is contributing to
lack of investor confidence (see how Venezuela's
political environment also is impacting its
transparency for commercial real estate). Moreover,
slumping oil prices are expected to have quite a
negative impact on the country, which depends more
heavily on oil revenues than does any other country
outside the Persian Gulf. According to Moody's
Economy.com, more than 90 percent of total export
revenues come from oil, while nearly 60 percent of
fiscal revenues are tied to this commodity.
- And, like the U.S. and Europe, Latin America is
suffering from the credit crisis. Latin American
companies are having a hard time securing short-
term lines of credit to finance exports. While central
banks around the region have tried to correct the
problem, the Latin American equity markets would
benefit from a less volatile global credit market.
The U.K. and EuroZone
- Uncertainty in the credit markets will "cast a long
shadow over Europe," according to Moody's
Economy.com. European economies contracted in
both the second and third quarters of this year,
pushing the region into recession.
- In mid-November, European finance ministers
decided against a EuroZone stimulus package, but its
central banks have slashed interest rates. For
example, the Bank of England cuts its rate by 150
basis points, and the European Central Bank lowered
its rate by 50 basis points to 3.25 percent. The cuts
are expected to give a much-needed stimulus to those
weakening economies. In 2009, experts predict that
United Kingdom interest rates will go as low as 2.5
percent.
- The U.K. and Germany, the largest economies in
Europe, have already experienced significant
slowdowns, and Central and Eastern Europe are
expected to suffer severe recessions. Like the U.S.,
the region will undergo substantial economic pain as
businesses and consumers continue to deleverage.
Moreover, most EuroZone economies will be weighed
down by decreased business investment, weak
household demand and rising unemployment.
- The U.K. economy has faltered under the weight of
the credit crisis, and like the U.S., it is experiencing its
own residential market meltdown. As a result, the
British economy contracted in the third quarter.
- Similarly, Germany, the largest EuroZone
economy, has fallen victim to the weakened global
climate. Largely dependent on exports to the rest of
Europe, Germany has been weakened by both falling
domestic and foreign manufacturing orders. However,
the German government is working on a targeted
stimulus package that is expected to shore up the
economy.
- Unfortunately, a sharp recession in Eastern
Europe now seems inevitable since most countries
there have been running huge deficits and financing
the deficit is almost impossible. That doesn't bode
well for the EuroZone as a whole since 30 percent of
EuroZone exports are destined for Eastern Europe,
more than twice those bound for the U.S. Germany
and the Netherlands are the most exposed - their
exports to Eastern Europe account for 3.5 percent of
their GDP.
- Moody's Economy.com says several Eastern
European and Baltic countries face financial
meltdowns akin to Asia in 1997. Across the region, the
private sector, including consumers, had borrowed
heavily in foreign currency at relatively low interest
rates. However, much of the borrowing was short
term, and few, if any borrowers hedged against
currency fluctuation. Now, foreign currency is
unavailable and currency exchange rates are in a
freefall. Sadly, these countries have little foreign
reserves to back their currencies.
- In times of stress, emerging economies have
historically turned to the IMF, but there are worries that
even the IMF might not have the resources to bailout
all the countries in trouble. The IMF has approximately
$250 billion in reserves - enough to provide 15 or so
bailouts similar to the ones it provided for Ukraine
($16.5 billion) and Hungary ($15.7 billion).
- Moody's Economy.com says EuroZone and Swiss
banks are most exposed to the travails of Eastern
Europe and other emerging markets. They loaned
$3.5 trillion to emerging economies, compared with
$500 billion from the U.S. and $200 billion from
Japan.
Asia-Pacific
- While 2009 is expected to be a tough year for the
U.S. and EuroZone, most Asia-Pacific countries will
still see positive growth, albeit slower than the past
few years. However, some Asian countries including
Japan will actually fall into a recession.
- Unlike the U.S. and the EuroZone, Asia-Pacific's
slowdown cannot be blamed on the financial crisis. In
fact, most experts agree that the region got off pretty
lightly compared to the rest of the world. The bank
failures and write-downs that have bedeviled the U.S.
and Europe have largely ignored the Asia-Pacific
region, despite the large portfolios of U.S. assets that
Asia has built in recent years. As of mid-November,
Asia has yet to see a bank failure, or a bailout, related
to the U.S. credit crisis.
- Indeed, Asia holds the largest piece of U.S.
mortgage-backed securities - roughly $795 billion of
mortgage debt consisting almost entirely of securities
issued by Fannie Mae and Freddie Mac. But these
securities are of high quality and not supported by
subprime mortgages. Moreover, Asian investors have
not taken a hit because of mark-to-market losses
because international accounting rules do not require
this type of mark downs for investments expected to
be held to maturity.
- While Asia-Pacific is largely unscathed from the
mortgage meltdown, the credit crisis has taken a bite
out of the region's export activity. That's a big problem
because exports make up a higher share of the
region's GDP than in any other region in the world,
according to Moody's Economy.com. Any decrease in
overseas demand will have a marked impact on the
region's economic growth (see related story on U.S.
seaport activity).
- China, which has become the world's
manufacturing center for everything from shoes to
soap, has already seen its exports decline
precipitously as demand from the U.S. and Europe
withers. The country expects to post growth of around
9 percent over the next few years compared with 11.9
percent in 2007. Interestingly, anything below 8
percent GDP growth in China is considered a
recession by the Chinese government.
- The rest of the Asia-Pacific region will likely follow
China's lead, and countries that have come to rely on
China to drive their economies will also see their
growth rates decline. That means the next 12 months
will be the toughest the region has seen in years, with
growth at 10-year lows.
- However, the slowdown can be mitigated by
government action. "In India and China, the
government controls the major financial institutions,"
Zandi says. "It can keep the wheels of the real
economy greased by simply ordering state-owned
banks to provide liquidity to targeted markets."
- China, for example, recently unveiled a massive
fiscal stimulus package, pledging spending of 4
trillion yuan through 2010. The government will focus
on 10 major areas: affordable housing; rural
infrastructure; expansion of transport networks;
improvement in health and education systems;
environmental protection; industrial innovation; post-
earthquake reconstruction; raising average income;
reform of value-added tax; and strengthening the role
of the financial industry. The stimulus package is
expected to help the entire Asia-Pacific region.
- Unfortunately, it won't help the regions that are
really suffering, specifically the U.S., says Richard
Green, Ph.D. and director of University of Southern
California's Lusk Center for Real Estate. "There's no
real chance that strength in other parts of the world
will boost the U.S.," he says. "We forget that China, as
massive as it is, is still much smaller than the U.S.
economy. We're going to have to pull ourselves out of
this."
Source: NREI, December 2008
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Greetings!
2009 Global Economic Outlook
Industry trends in the downturn
- Who will be up?
- Who will be down?
Grants
Economic Notes
Economic Development Leads
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Industry trends in the downturn - A snapshot |
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Consumer Goods
Recessions have affected spending on different
categories of consumer goods in different ways. An
analysis of consumer spending during the 1990-91
and 2001-02 downturns shows that US consumers
changed their priorities instead of making across-the-
board cuts. Daily amenities-eating out, personal-
care products and services, and apparel-tended to
suffer. But categories such as groceries and reading
materials, which substituted for more expensive
options, actually benefitted from higher spending, as
did less discretionary items, like insurance and health
care. Spending on education showed the biggest
increase. While these historical trends are instructive,
they may not tell the whole story this time around:
tighter consumer credit, low personal-savings rates,
and declining home values may cause individuals to
cut spending faster and further across more
categories. Even so, some categories will weather the
storm better than others. Companies that react to the
downturn with an understanding of their categories'
likely performance will have a better chance.
- Education (eg. tuition, textbooks) +90%
- Reading (eg, newspapers, magazines) +53%
- Health care (eg, health insurance, services)
+29%
- Food at home +28%
- Entertainment -6%
- Housing -10%
- Tobacco products -13%
- Cash contributions -28%
- Apparel and services -45%
- Transportation -70%
- Personal-care products and services -78%
- Food away from home -110%
- Total -10%
Source: McKinsey & Company, December
2008
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Economic Notes: |
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- International Business Confidence
- Global business confidence has been
shattered. Sentiment is equally negative in North
America, South America and Europe. Asian business
confidence is not quite as dark, but it is falling rapidly.
Responses to questions regarding sales strength,
hiring, and the demand for office space fell to new
lows last week. Pricing power is quickly evaporating
and approaching that which prevailed in 2003, the last
time deflation was a concern. The global economy
is suffering a severe recession according to the
business confidence survey results.
- ABC News/Washington Post Consumer
Comfort
- Confidence edged 2 points higher this week,
coming off last week's record low. According to the
ABC News/Washington Post consumer confidence
index, sentiment was -52 for the week ended
December 7. Despite the slight moderation in
consumer sentiment, the index remains at an
extended, extremely weak level.
- Treasury Budget
- The unified budget deficit for October was $164
billion, smaller than the CBO's estimate of $171
billion. Through the first two months of fiscal 2009, the
budget deficit was more than $400 billion, and 160%
larger than at the same point in fiscal 2008.
Purchases of stock in banks as part of the TARP
program have greatly added to spending this fiscal
year.
- International Trade (FT900)
- The U.S. trade deficit widened to $57.2 billion in
October. The consensus had expected a narrowing to
$53.5 billion. This marks the third straight month of
declining gross exports and gross imports.
- Import and Export Prices
- Import prices notched a record decline in
November, falling a larger than expected 6.7%. This
marks the fourth consecutive decline in import prices.
Sharp declines in petroleum prices are the major
catalysts driving import prices lower. The financial
panic and abrupt slowdown in the global economy
have frozen inflationary pressures. With import prices
declining, the Federal Open Market Committee can
lower interest rates below 1%.
- Wholesale Trade (MWTR)
- Wholesale inventories declined by 1.1% in
September, well below consensus expectations of a
modest decline, following a downwardly revised 0.4%
decline in September. Sales also surprised on the
downside, falling by 4.1% in October compared with a
downwardly revised 2.1% decline in September. The
inventory-to-sales ratio rose by four-hundredths of a
point from an unrevised 1.12 to 1.16 in October.
- Quarterly Services Survey
- In the third quarter of 2008, professional, scientific
and technical services industry revenues increased by
7.0% on a year-ago basis. The hospital and nursing
care industry expanded revenues by 5.6%,
administrative and support services industry revenues
grew 2.4%, and information industry revenues
increased by 2.0%.
- Employment Situation
- The labor market took a sharp turn for the worse
in November. Employment fell by 533,000, far more
than had been expected and the largest one-month
drop since December 1974. Losses were broad-
based across both service- and goods-producing
industries. As a result, the unemployment rate rose to
6.7%, a rate last seen in September 1993. The
economy is in recession, and the severity will far
surpass that of the last two recessions
- Job Openings and Labor Turnover Survey
- The October JOLTS report, which straddles the
October and November payroll reports, confirms that
the labor market has weakened, but the decline is
less dramatic than last Friday's payroll report. In
October, the economy created 4.1 million jobs, while
4.2 million workers left their jobs. More importantly, the
number of available positions has plummeted by 1
million jobs over the past year, from 4 million to 3
million. This bodes ill for future hiring.
- Jobless Claims
- Initial claims for unemployment insurance benefits
increased by 58,000 to 573,000 for the week ending
December 6. This was well above expectations and is
in part a rebound from the drop during last week's
Thanksgiving holiday. Claims this high suggest
severe weakening in the labor market.
- Manpower Employment Outlook
Survey
- Global employment conditions continue to
deteriorate. Most employers expect to slow their pace
of hiring in the three months to March 2009. However,
employers in 25 countries still expect on net to add
workers, while in eight others they expect to cut,
according to the Manpower Employment Outlook
Survey of firms in 32 countries around the world.
Employers in 21 countries report the lowest hiring
demand since the Manpower survey began in their
respective countries. On the positive side, employers
in three countries-Canada, the United States, and
Switzerland-report improved hiring conditions from
the fourth quarter of 2008.
- MBA Mortgage Applications Survey
- In the week ending December 5, the MBA
composite market index fell 7.1% to close the week at
796.8. The refinance index modestly fell to 3,767.3,
down 0.9% for the week. The purchase index
decreased 17.4% to 298.1. The market index is just
below year-ago levels. The refinance index remains
above year-ago levels.
- MBA Delinquency Rates
- For the third quarter, the national delinquency rate
on all loans rose to 6.99%, nearly 60 basis points
higher than last quarter. Meanwhile, the foreclosure
rate fell to 1.07%, a 12-point decrease over last
quarter. Tightening credit, rising unemployment, a
slowing economy, and the poor lending standards of
the past few years have all taken their toll on the
housing market and pushed up delinquency
rates.
- Pending Home Sales
- The pending home sales index fell 0.7% in
October to 88.9, a smaller decline than had been
expected. The index value for September was revised
upward slightly. The index fell 1% below its year-ago
level in October. The relatively modest decline in
pending home sales in October suggests that buyer
demand for existing homes could remain relatively
stable in the near term.
- Consumer Credit (G19)
- Consumer credit balances fell for the second time
in the past three months. Credit decreased by $3.5
billion in October, slipping to a total of $2.578 trillion.
Nonrevolving credit balances accounted for most of
the decline, driven lower by poor vehicle sales.
- Chain Store Sales
- Chain store sales were unable to maintain the
momentum from Black Friday, falling 0.8% in the week
ending December 6. Year-over-year growth fell to
0.4% from 1.3% the previous week. The ICSC noted
that consumers again appear to be delaying holiday
shopping until late in the season.
- Prices for sacrificial lambs skyrocket as
Iraqis honor dead
- BAGHDAD - The sheep markets looked different
this year: They were packed with customers buying
animals to sacrifice in memory of recently lost
relatives, but many people went home empty-handed
due to the enormous demand and steeply rising
prices.
There's an ancient tradition in Iraq of honoring
deceased loved ones during the annual Eid al Adha
religious holiday by donating part of a slaughtered
lamb to neighbors and part to Baghdad's poor.
However, the demand for lambs has soared as
Iraqis this week remember tens of thousands of
people who died during the war.
- Oil and Gas Inventories
- Crude oil inventories rose by 400,000 barrels
during the week ending December 5, according to the
Energy Information Administration, falling short of
expectations of a 1.3 million barrel build. Gasoline
inventories rose by 3.8 million barrels, contrasting
with expectations of a 400,000 barrel decline.
Distillate supplies surged by 5.6 million barrels, far
surpassing expectations. Refinery operating capacity
soared to 87.4% from 84.3%. Total domestic
petroleum demand fell for the first time in three
weeks. This report points to lower oil prices.
- Natural Gas Storage Report
- Working gas in underground storage decreased
by 67 billion cubic feet during the week ending
December 5. The consensus estimate was for a draw
of 83 billion cubic feet.
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This Weeks Leads: |
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- Susie's Deals
- Hyman Family, LP trades as Susie's Deals at 90
locations throughout AZ, CA, NV and UT.
- The
stores, offering men's, women's and children's
apparel and accessories priced below $6, occupy
spaces of 5,000 sq.ft. to 7,000 sq.ft. in strip and value
centers.
- Plans call for 15 openings throughout the
existing markets during the coming 18 months.
- Typical leases run five years with two, five-year
options.
- A vanilla shell and specific improvements
are required.
- Preferred cotenants include Target,
Wal*Mart and grocery stores.
- Preferred
demographics include a population of 100,000 within
three miles earning $50,000 as the average
household income.
- For more information, contact
- Gail Jeffery,
- Hyman Family, LP,
- 620 South Wanamaker
Avenue,
- Ontario, CA 91761;
- Web site:
www.susiesdeals.com.
- Country Waffles
- Country Waffles, Inc. trades as Country Waffles at
38 locations throughout CA and internationally.
- The full-service restaurants, offering breakfast and
lunch, occupy spaces of 3,200 sq.ft. to 3,500 sq.ft. in
specialty and strip centers.
- Growth opportunities
are sought throughout CA during the coming 18
months.
- Typical leases run 10 years.
- Specific
improvements are required.
- Preferred
demographics include a population of 30,000 within
three miles earning $50,000 as the average
household income.
- The company is franchising.
- For more information, contact
- Hervey
Brooks,
- Country Waffles, Inc.,
- 720 East North
Avenue, Suite 108,
- Fresno, CA 93725
- Hardee's
- Hardee's Food Systems, Inc. trades as Hardee's
at 1,900 locations throughout the southeastern, mid-
Atlantic and midwestern regions of the U.S.
- The
fast food restaurants occupy spaces of 3,000 sq.ft. to
3,500 sq.ft. in freestanding locations.
- Growth
opportunities are sought throughout the existing
markets during the coming 18 months.
- Preferred
demographics include a population of 20,000 within
two miles earning $40,000 as the average household
income.
- A land area of one acre is required.
- The company is franchising.
- For more information, contact
- Don
Glosier,
- Hardee's Food Systems, Inc.,
- 100
North Broadway, Suite 120,
- St. Louis, MO
63102
- Daphne's Greek Café
- Fili Enterprises, Inc. trades as Daphne's Greek
Café at 85 locations throughout AZ, CA, CO, OR and
WA.
- The fast casual restaurants occupy spaces of
2,000 sq.ft. in entertainment and specialty centers, in
addition to urban/downtown areas.
- Growth
opportunities are sought throughout AZ, CA and CO
during the coming 18 months.
- Specific
improvements are required.
- Preferred cotenants
include movie theaters, Trader Joe's and Whole
Foods.
- Preferred demographics include a
population of 50,000 within two miles earning
$100,000 as the average household income.
- For more information, contact
- Ed Hoban,
Fili Enterprises, Inc.,
- 6125 Cornerstone Court
East,
- San Diego, CA 92121
- Good Times Burgers & Frozen Custard
- Good Times Restaurants, Inc. trades as Good
Times Burgers & Frozen Custard at 54 locations
throughout CO, ID, ND and WY.
- The restaurants
occupy spaces of 2,400 sq.ft. in freestanding
locations.
- Growth opportunities are sought
throughout CO, IA, MO, NE and SD during the coming
18 months.
- Typical leases run 15 years.
- A
vanilla shell and specific improvements are required.
- Preferred demographics include a population of
10,000 within one mile earning $50,000 as the
average household income.
- Major competitors
include Dairy Queen, Sonic Drive-In and Wendy's.
- A land area of 25,000 sq.ft. to 30,000 sq.ft. is
required.
- The company is franchising.
- For more information, contact
- Boyd
Hoback,
- Good Times Restaurants, Inc.,
- 601
Corporate Circle,
- Golden, CO 80401-
5622
- Farmer Boys Restaurants
- Farmer Boys Food, Inc. trades as Farmer Boys
Restaurants at 61 locations throughout CA.
- The
fast casual restaurants occupy spaces of 3,000 sq.ft.
in freestanding locations.
- Growth opportunities
are sought throughout CA and NV during the coming
18 months.
- Typical leases run 20 years with four,
five-year options.
- Preferred cotenants include
home improvement centers.
- The company is
franchising.
- For more information, contact
- Don Tucker,
- Farmer Boys Food, Inc.,
- 3452 University
Avenue, Riverside, CA 92501
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Grants: |
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Housing Choice Vouchers (HVCs) for
Individuals with Disabilities!
- Rental Assistance for Non-Elderly Persons With
Disabilities in Support of Designated Housing Plans
- POSTED: 12/1/2008
- FUNDING SOURCE: HUD
- ELIGIBILITY: PHAs that currently administer a HCV
program
- $ AVAILABLE: $15,000,000
- GRANTS AVAILABLE: N.A.
- MAX GRANT SIZE: N.A.
- DEADLINE: 1/30/09
- CONTACT INFORMATION:
http://edocket.access.gpo.gov/2008/E8-28234.htm
- DESCRIPTION: Grants to provide additional HCV
funding to non-elderly disabled families.
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Housing Choice Vouchers (HVCs) for Section
8 Developments!
- Rental Assistance for Non-Elderly Persons With
Disabilities Related to Certain Types of Section 8
Project-Based Developments
- POSTED: 12/1/2008
- FUNDING SOURCE: HUD
- ELIGIBILITY: PHAs that currently administer a HCV
program
- $ AVAILABLE: $15,000,000
- GRANTS AVAILABLE: N.A.
- MAX GRANT SIZE: N.A.
- DEADLINE: 1/30/09
- CONTACT INFORMATION:
http://edocket.access.gpo.gov/2008/E8-28234.htm
- DESCRIPTION: Grants to provide additional HCV
funding for non-elderly disabled families in support of
Certain Developments that provide preferences for, or
restrict occupancy to, certain units for occupancy for
elderly families only.
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BONNEVILLE RESEARCH - Working with clients to make things happen! |
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BONNEVILLE RESEARCH
Bonneville Research is a Utah-based
consulting firm providing economic, financial, market
and policy research to public and private sector clients
throughout the intermountain west.
Helping Clients Succeed
Our services include:
- Financial Analysis
- Business License Studies
- Impact Fee analysis
- Urban Renewal & Redevelopment
Analysis and Budgets
- Strategy and Policy Analysis
- Economic and Fiscal Impact Analysis
- Statistical and Survey Research
- Public Sector Mission
Effectiveness
Each of our studies is tailored to address
the
unique needs of our clients and their
communities.
Successful client work requires a
superior team of
outstanding people working fluidly together.
Bonneville Research is the one firm with
the experience and expertise to help
businesses,
governments and nonprofit organizations
solve their
toughest problems.
We work to help clients achieve enduring
results
and improve the communities in which we
live.
If we can help, please call or email us at:
- Bob
- 801-364-5300
- BobSpring@BonnevilleResearch.com
- Jon
- 801-746-5706
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JonSpring@BonnevilleResearch.com
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