Cities Feeling the Downturn

Posted on September 26, 2008 by LCT Magazine

New York City is the obvious center of turmoil in the financial industry downturn. What other cities are tied into this mess and could also be going through tough times? According to an analysis piece in Business Week, "the impact of a downturn could be more serious in smaller cities that are less diversified. Wilmington, Del., where many of the nation's credit-card companies are headquartered; Charlotte, N.C., home of Bank of America and Wachovia; and Sioux Falls, S.D., where many back-office jobs are located, each have about 15% of residents working in finance, real estate, and insurance."
This is a time of change in the chauffeured transportation industry, as many operators downsize, merge, and look for new customers. If you're in a market directly affected by the financial industry crisis, one of the best moves is finding out what other operators are doing to expand their business as the economy staggers from one punch to the next. LCT Magazine will be covering this, and we'd love to hear from you on what you're going through now, good and bad. You can click the Feedback button, or send an email to me at [email protected] -- Jon LeSage

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