recession Archives

Arizona’s Credit Unions Are Reaching Out To Small Businesses

credit unions reaching out to small business
by in AZ Business Magazine | Featured | Finance

Relative newcomers to the field of making business loans, credit unions nonetheless have become key players in today’s tight-money economy. Barely 10 years ago, credit unions concentrated mainly on savings and checking accounts, and made personal, auto and home loans. But the Credit Union National Association says credit unions nationally originated $6.5 billion in business… Read More →

Law Firms Are Altering Their Strategies To Cope With The Recession

Changing Course

The downturn in the economy that is affecting all businesses has not spared law firms. Like all other businesses, law firms have been forced to cope with fewer and thriftier clients. Specifically, law firms have had to deal with sharp reductions in transactional and real estate work, large increases in litigation and bankruptcy matters, and… Read More →

An Analyst’s Look At How Arizona’s Nasdaq-Listed Companies Are Faring This Recession

chart increase, AZ NASDAQ listed companies

Arizona has 52 Nasdaq-listed companies and the performance of those with the most capitalization during this economic downturn has been fairly good. In early June, Stephen Taddie, managing member of Stellar Capital Management in Phoenix, reviewed the top 10 Arizona Nasdaq companies using Thomson Analytics as his data source. Those companies comprise nearly all the… Read More →

Executives From West Valley Hospitals Assess The Impact Of The Current Economy

AH Endovascular OR Suite

The need for health care services continues to grow across the state, including the West Valley. And under the current recession, hospitals are being asked to do more with less. Jon Bartlett, CEO of Arrowhead Hospital, says the health care industry is not immune to the impact of the bad economy, but he remains optimistic… Read More →

The State’s Health Care Industry Is Strong, But The Recession Is Taking A Toll

nurses, healthcare, doctors

Although I have only been in Arizona 11 years, St. Joseph’s Hospital and Medical Center has been providing high-quality care to Valley residents since 1895. And for the past century, St. Joseph’s has been known for two primary missions: Service to the poor and underserved; and outstanding care, particularly in the neurosciences, driven by groundbreaking… Read More →

The Economic Recovery Begins In 2009, But It Will Be Slow Going

money in vice

The national and state economies are expected to start feeling the effects of a recovery during the last quarter of 2009. However, the recovery over the next year will be slow, with unemployment continuing to rise and economic growth anemic at best. Meanwhile, the state’s expenditures are rising, even as revenue continues to fall, setting… Read More →

CEO Series: Rhonda Forsyth

Rhonda Forsyth President and Chief Executive Officer John C. Lincoln Health Network

Rhonda Forsyth President and Chief Executive Officer John C. Lincoln Health Network How would you characterize the health care industry in the Valley? When I think of health care for the Valley, for the most part we’ve been a growth industry. We have had incredible new facilities that have been built and new partners that… Read More →

Non-Residential Building Feeling Effects Of Recession

nonresidential building outlook

Although non-residential building held up longer than residential activity in the current recession, the non-residential downturn now has started and is expected to continue into 2010. Non-residential building began to increase strongly at the beginning of 2006, just as residential activity started to sag. Double-digit growth continued in seven of the next 10 quarters, propping… Read More →

Infrastructure Companies Are Big Winners Under Plan To Jumpstart Economy

Stimulus Effect

Construction companies, big and small, figure to be the primary beneficiaries of some $4.2 billion in federal stimulus money that will flow into Arizona in the months ahead. But economists and industry officials say businesses across the board will share in what could be a spending bonanza. Clearly not everyone is in construction. Yet, as… Read More →

The Wave Of Bank Mergers Has Changed The State’s Financial-Services Landscape


The banking industry has plenty of troubles, but in Arizona, the least of its problems is the aftermath of recent mergers. Bankers and industry observers say the state’s financial-services landscape hasn’t significantly changed because of the consolidations. Other than the usual branch closings and potential employee layoffs, they don’t see a big shakeup looming. One… Read More →

Legal Arizona Workers Act Does Not Cause Expected Upheaval

american flag, protest

In 2007, the state of Arizona made its first foray into “immigration reform” when it passed the Legal Arizona Workers Act. However, before the Legal Arizona Workers Act (LAWA) even became effective on Jan. 1, 2008, the Legislature went to work on amending the statute, presumably to “cure” some of the more controversial aspects of… Read More →

Credit Unions Were Well Capitalized Leading Into The Recession

money stack

Arizona credit unions are weathering the rocky economy fairly well, but not without some bumps and bruises along the way. More than 20 of the 55 credit unions in the state have seen their bottom lines slip into the red. Even so, conservative and prudent lending policies that steered them away from the risky subprime… Read More →

Q&A: Michael Bidwill, President, Arizona Cardinals

Michael Bidwill Arizona Cardinals

During these difficult economic times, how vital is an organization such as the Greater Phoenix Economic Council (GPEC) to the local economy? GPEC is vitally important because it is the only regional organization focused exclusively on bringing new business to Greater Phoenix. Because GPEC works closely with companies considering expansion to the region, they know… Read More →

Arizona Businesses That Are Succeeding Despite The Recession Offer Lessons And Hope

Arizona Businesses Succeeding
by in AZ Business Magazine | Economy

Economists are the uncomfortable bearers of bad news. In recent weeks, they have been unhappily explaining that these are dark days indeed for Arizona’s business community. But don’t tell that to businesspeople who have uplifting stories to tell amid the downdraft of Arizona’s recession. While it’s true that Arizona’s economy is out for the count,… Read More →