 |
         
|
NBC's lead story, assigned to CNBC's Diana Olick, was a potpourri of latest economic indicators: the pace of home foreclosures has picked up once more now that the banks' three-month moratorium has expired; consumer spending is declining leading to layoffs at retail chains; commercial real estate developers are going bankrupt without access to credit to roll over their mortgages. ABC's Betsy Stark picked up on the home foreclosure story as CBS' Anthony Mason had on Wednesday. CBS' Kelly Cobiella covered the problems at shopping malls. When landlord General Growth Properties went bust it was "the largest bankruptcy filing in the history of the American real estate business." Cobiella cited the International Council of Shopping Centers' two-year estimates of almost 300,000 shuttered retail stores nationwide, with $400bn in commercial mortgages at risk of foreclosure this year alone.
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.
