Many news outlets tell us the recession is "turning the corner". I hope they're right. But from my vantage point (I talk to a lot of business owners and managers in several north Texas counties) just as likely is that it's merely driving around the block again.
In the counties west and northwest of the Metroplex, I hear reports that the oil patch is coming back. But the businesses who rely on the oilfield workers, as opposed to supplying oilfield services, say that the workers are being very cautious with their earnings. I see lots of boarded up businesses - some were poorly conceived from the beginning (too little financial or intellectual capital, some just 'hobbies'), but many others were once viable going concerns.
A beautiful estate, or an upscale housing subdivision? I don't know. To the left and right of the driveways, there are about half a dozen stone columns about 30' apart, presumably later to be connected with wrought iron fencing. But there's nothing, as far as I could tell, beyond the entry feature.
A casualty of the economy? Gas prices? Tightening credit standards? A Mel Gibson rant on Facebook? Who knows?
Saturday, July 10, 2010
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