Economic Outlook 2012 - Queens Economy

Federal Reserve Economist Discusses 2012 Outlook At LIC Partnership Breakfast

February 13, 2012 / Long Island City / Queens Business / Queens Buzz. I attended a lecture given by New York Federal Reserve Economist Rae Rosen at the LIC Partnership breakfast in Long Island City. In the lecture the economist talked about many of the critical factors that would play a role in the outcome of how the economy would perform in 2012. How these factors play out will ultimately impact the kind of economic year Queens, NYC and NYS will have in 2012.

U.S. Economic Performance in 2012 Vs Averages

The U.S. economy grew 2.8% in the fourth quarter, ending the 2011 year on a strong note, after a slow beginning. For 2012 the consensus forecast is between 2.5% to 3%, with the highs above 3% and the lows just above 1% which still implies a growth year. The U.S. average growth rate since the end of WWII has been about 3.28%. According to one report I read, the probability the U.S. will slip back into recession has fallen to 23%.

Click here for our report of the lecture given by Federal Economist Rae Rosen at the LIC Partnership breakfast in February 2012 - Queens Economic Forecast 2012.

Small Business Financing In Queens NYC

SBA In Queens & Business Outreach Center In Corona

January 31, 2012 / Corona / Queens Business / Queens Buzz. Last summer I decided to take Queens Buzz through the SBA process to raise capital to raise capital and to provide a description of the process that a new or struggling enterprises must go through in order to obtain non-traditional funding.

Over the course of the past decade, government and non-profit organizations have increasingly become aware of the importance and value of helping new and small businesses survive and thrive as a means of retaining and creating jobs within communities. In the current economic environment, helping these small companies is critical to accelerating the current economic recovery.

I entered the process of seeking a loan in July of 2011 ... click here to read more about the Business Outreach Center in Corona Queens. The photo above was taken at a 2012 seminar sponsored at the Business Outreach Center in Corona Queens entitled Financing Your Business.

NY Federal Reserve In Queens

Current Economic Conditions In Queens

March 11, 2011 / Flushing / Queens Buzz. I attended a presentation by the New York Federal Reserve president and CEO William C. Dudley. His purpose was to supplement the research done at the Fed with visits into ‘the field’ to see what’s going on. A visit by one of his staff to Crystal Window & Door Systems was a part of that effort [use the search function to find related stories].

Dudley first talked about the role of the Federal Reserve, which is to manage the nation’s money supply. The Fed pursues a ‘dual mandate’ which is to purse the highest level of employment consistent with price stability. Dudley talked about the importance of the NY Federal Reserve in overseeing Wall Street and in helping the Federal Reserve execute monetary policy. Then he turned his remarks to the current state of the U.S. / NY economy.

Click here to read more about the Federal Reserve talk about the economy and business - Queens.

Small Business Loans - Queens Credit

Business Loans In Queens - Banking In Queens

March 21, 2011 / Jackson Heights / Queens Buzz. I had occasion to attend a NYC Credit Fair at the Bulova Corporate Center in Jackson Heights. The credit fair was sponsored by the New York City Council, the New York Bankers Association [NYBA], the New York Business Development Corporation [NYBDC] and NYC Small Business Services.

And while I missed most of the credit fair, the literature I picked up on my visit was excellent. The fair occurred the morning of January 26, 2011 which was the morning of one of the numerous snowstorms we had this winter and it likely negatively impacted attendance.

This report contains information about how to obtain financial and technical assistance to: 1) make your business creditworthy, 2) make a successful loan application, and 3) find alternative sources of credit / loans for small businesses in Queens.

Click here to learn more about how to obtain small business loans in Queens.

Auto Insurance In Queens

Things To Look For & Consider When Buying Auto Insurance

December 15, 2010 / Queens NY / Queens Buzz. This report is to identify some of the things to think about and look for when purchasing auto insurance in Queens. One of the insurance professionals I interviewed while working on this report provided me with some colorful comments. Perhaps the most memorable was the most instructive. He explained to me that when it comes to buying auto insurance – or for that matter any insurance, he said, “Most people don’t know what they bought, and they don’t find out until they’re filing a claim.” When I was a bit younger, this statement would easily have applied to me.

Click here to read our report about things to think about / look for when buying auto insurance in Queens.

Home Insurance In Queens

Buying Home Insurance In Astoria, LIC, Sunnyside, Woodside, Jackson Heights, Corona, Flushing & Jamaica

April 12, 2011 / Queens Business / Queens Buzz. I did a bit of research into some of the things to think about when buying home insurance, condo insurance or renters insurance in Queens neighborhoods. This class of insurance is known as property & casualty. It covers assets, such as homes and autos from damage or loss for various events.

Insurance Underwriters – Home Insurance In Queens

We’ve all heard the term underwriter, but many people don’t know exactly what that means. The underwriter is the institution that essentially ‘takes the bet’ that they’re going to benefit more from the receipt of your insurance premiums than they’re going to pay out in losses. On some of their policies this will not be true, but on average it will be – otherwise they wouldn’t be in business.

Click here to read more about things to consider while buying home insurance, condo insurance or renters insurance in Queens.

Real Estate Lending & Mortgages

CAREA / Chinese American Real Estate Assn - Flushing

May 22, 2010 / Flushing / Queens Buzz. On Saturday in Flushing there was a Real Estate Expo event hosted by the Chinese American Real Estate Association [CAREA] in Flushing. This expo is an evolution of the Home Buyers Expo, which was an event they had hosted last year with a private sponsor. The Home Buyer Expo had focused on issues such as how to find a house, how to take the house into contract and how to close on the house. Last year there were ten vendors at the expo offering financial, real estate and legal services.

Real Estate Lending - Home Buying In Queens

We visited the expo in search of information about the state of mortgage lending in Queens. Given the Asians seem to be America's financiers, we thought this expo might be a good place to research this question.  The following story is focused providing some background about CAREA and its events, as well as on the current state of mortgage lending in Queens.

This year the CAREA event scope was expanded and it attracted about 40 - 50 vendors. The expo focus changed from buying a home, to buying and managing a home. Hence this year vendors included tax services, energy services, remodeling services as well as vendors offering financial, real estate and legal services.

Click here to read our full report about real estate finance and mortgage lending in Queens based on information gathered at the CAREA Real Estate Expo in Flushing.