The litany of economic problems facing businesses has been seemingly unabated since last year - the sub-prime crisis, the speculative boom and bust in commodities (including oil), a declining and volatile stock market, and a lack of credit availability. More recently, we have seen rising unemployment, a sharp decline in consumer sentiment with a bias toward saving rather than consumption, and negative GDP growth in the third quarter. All of these factors will likely result in the weakest holiday retail season in years and continuing economic weakness into 2009.
Maintaining profitability, or in some cases viability and liquidity, under these circumstances is a difficult challenge for businesses.
For more information regarding, please contact one of our professionals in our Shreveport office at 318.221.3615 or in our Dallas office at 972.238.5900.
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