November 14, 2008 9:33AM
By FOXBusiness.com
New York City has certainly earned its nickname as the “City that Never Sleeps.” With the plethora of museums, attractions, restaurants, hotels, theaters, entertainment and shopping, residents and tourists can easily fill a 24-hour day.
The city is the largest regional economy in the country and the second largest city economy in the world. The financial, insurance, and real estate industries are the backbone of the economy, with more creative outlets like journalism, publishing, fashion and publishing providing strong structural support.
At the corner of Wall and Broad Street in downtown Manhattan sits the New York Stock Exchange–the largest stock exchange in the world by dollar volume and has more than 2,700 listed securities.
Tourism plays a key role in the city’s economic vibrancy, in 2006 tourism brought in $24.71 billion and generated $16 billion in wages. More than 368, 0000 jobs are supported by visitor spending and the average New Yorker family benefited an average $953 in tax savings coming from tourists.
FOX Business Vice President of Business News and a anchor Alexis Glick heads back to her hometown to prove American prosperity is alive and well.
By the Numbers
An all-day subway pass will cost you $7 for unlimited rides
Adults wanting to climb the Empire State Building will have to dish out $17.61 before tax
Looking for a java jolt? Starbucks houses 178 in the city
Lady Liberty is over 121 years old and stands 151 feet tall
Hail a taxi: 12,779 yellow medallion cabs prowled the city in 2006
Looking for a little green space in the city? Central Park is 843 acres and is worth $528,783,552,000
The city’s median household in 2006 was an estimated $60,000
Last year 46 million visitors flocked to the city
The metropolitan area had an estimated gross metropolitan product of $1.13 trillion in 2005
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A Glance In the Rearview Mirror
1.) What has changed about your hometown the most since you left?
First of all, I never left New York City. I grew up on the Lower East Side. Went to grammar school downtown, high school on the Upper East Side and graduated from Columbia University. Since I was little a lot has changed about New York City. Much of that due to the great prosperity and wealth that brought record numbers of tourists and record amounts of jobs on Wall Street. Some of that is already starting to change. That is very sad to see but a reality given the difficult financial times that are hitting all of us.
2.) What one characteristic in your life now do you credit your hometown for planting in you?
The ability to dream big. More than one third of New York cities 8 million citizens are foreign born. This is the land of opportunity. New York City is a place where people from all different walks of life come to live and pursue the American Dream. Anything is possible.
3.) What do you miss the most?
Nothing. I am still here and will probably remain here for the rest of my life.
4) Given the chance, would you move back? Why?
Wouldn’t live anywhere else. I love the melting pot that is New York City. I am thrilled that my children are growing up on the streets of Manhattan learning about the diverse culture, the strong work ethic, the conviction and passion with which each and every New Yorker approaches their life. I am deeply honored to call myself a born and bred New Yorker.
5.) What economic opportunity has your hometown lost?
In the current economic climate we are losing jobs. The latest projections call for 165,000 job losses and as many as 35,000 of them in the financial sector. New York City has remained relatively immune to this credit crisis until now. Tourism is still very strong but I suspect that will change somewhat. The dollar is strengthening versus other currencies and the Globe is preparing itself for a Worldwide recession. New York will always have the arts, sports, entertainment and many other world renowned businesses. We will be fine.
6.) What does your hometown not get enough credit for?
The people. We hustle and bustle and rush from one place to another but this is the city that rallied together post 9/11. We will never be the same. We will always know that we are vulnerable. As a result I think we have figured out how to help one another more, to embrace each others differences and to support each other in good times and in bad times. We are gracious, friendly, passionate and generous. New York City is a wonderful place to live or visit but the people of New York make it what it is not the skyscrapers, not the history, not the island itself, the people.
The City That Never Sleeps
While tourist flock to the Times Square to the showcase of lights, billboards and glitz, New Yorkers look at is over-crowded sidewalk space that can make you late to a meeting if you have to maneuver it. There are 200% more people gracing the area than in 1980 and approximately $4.9 billion is spent in Times Square on shows, dining and hotels.
More than 25% of the cities hotels call Times Square home, offering more than 15,000 rooms.
The flashy real estate makes up a measly 0.1% of the city’s land area, but houses 5% of the city’s jobs and generates 10% of its economic output.
Close to 80% of travelers visit Times Square and 17,000 New Yorkers reside in the Times Square boundaries .
Source: Times Square Alliance
What’s Happening in NYC
Help! New York Residents Ask Government for Heating Bill Aid
Demand Dwindles for Yankee Stadium Luxury Boxes
NY Hotel Amenities Provider Cuts 130 Jobs
NY Family Convicted in $1M Investment Scam
AMA to Assemble Code of Conduct for Health Insurers
New to NY Sidewalks: Public Prayer Booths?
November 7, 2008 12:25PM
By FOXBusiness.com
If you take a drive down S. Route 501 south from Lynchburg, Va. you’ll stumble across the smallest incorporated town in the Central Virginia Region: Brookneal, Va.
The quaint town, with a population of 1,259, is full of family-owned businesses and serves as a center for commerce for the surrounding counties.
Brookneal has a diverse economy, but the recent the loss of manufacturing jobs has taken its toll. Manufacturing is the backbone of the city and accounts for less than a third (28.7%) of all jobs in the Campbell County (where Brookneal is located).
In 2007, the area’s unemployment rate was below the national average at 3.9%.
Small business owners in Brookneal rave about the relationship they have with the services provided about the government and many ranked local government as one of the top positive factors associated with doing business in the area.
FOX Business anchor Dagen McDowell heads back to her hometown.
Brookneal By the Numbers
The town’s staff is made up of 12 people
Recently, the town received a $1 million grant to help revitalize the downtown
Three police officers patrol the town
Connecting the city to other towns is a 2-lane highway
Estimated median household income in 2007: $30,000 compared to $59,562 in Virginia
In 2007, the median house/condo value was $80,500
On average it takes the residents 24.4 minutes to drive to work
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left?
The town once had a thriving economy thanks to tobacco farming and the textile industry. But those businesses are long gone. The last textile plant closed about two years ago. The population of Brookneal is about the same as it was when I was growing up. But most people work outside of the town and you no longer have the small family-owned stores that used to line Main Street.
2.) What one characteristic in your life now do you credit your hometown for planting in you?
Hard work. I learned what that was by what my family did rather than what they said.
My parents and grandparents owned and operated a wholesale grocery business that used to service the small country stores outside of town. My grandfather Charles opened the business every New Year’s Day for 60 years. He even once put on his golf spikes to walk to work after an ice storm. Of course, when he got there, there were no customers to call on. But he still got there.
And small Southern towns are made up of a lot of big personalities who are great storytellers. I certainly learned to express myself.
3.) What do you miss the most?
Growing up in Brookneal I was loved, supported and nurtured by not just by my family but the entire community. The people are there for you in good times and bad, there to support you when things go wrong and hold you responsible when you do something wrong.
4) Given the chance, would you move back? Why?
Since I am a business journalist working in TV, doing that for a living wouldn’t be possible back in Brookneal.
5.) What economic opportunity has your hometown lost?
Tobacco and textiles are gone and not coming back.
6.) What does your hometown not get enough credit for?
The people. Their hard work. Their never-ending optimism. Their devotion to family, church and one another. Brookneal’s made up the best people you’ll ever meet.
We always talk about the economy this and the economy that. Well our economy is made up individual business owners and workers, who put heart and soul into what they do. Every day I think of all those people in Brookneal who make up my small Southern hometown. Those folks supported me and encouraged me. I would not be where I am today if I had grown up anywhere else.
What’s Happening in Brookneal
Uranium Mining Study Gets Green Light
Colonial Williamsburg Cuts Jobs
Va. Prepaid Tuition Costs Jump 10%
In Dark Housing Climate, a Light
Va. Governor Cheers Obama’s Victory
October 31, 2008 9:03AM
By FOXBusiness.com
Phoenix boasts one of the strongest economies in the United States and is consistently ranked as one of the best areas to start and expand a business.
The greater Phoenix area is a $50 billion marketplace with technology serving a major economic backbone.
The region is among the nation’s fastest-growing and attracts big businesses for to expand and relocate. Several Fortunate 500 companies have set up their regional or corporate headquarter in Phoenix including Honeywell, Motorola, Boeing and Intel. American Express, Charles Schwab and Prudential also have major operations in the city.
Phoenix is currently home to seven major Fortune 1000 companies, with several Internet companies, including eBay and AOL.
FOX Business reporter Cheryl Casone heads back to her hometown to prove American prosperity is alive and well.
Phoenix By the Numbers
There are 3 airports in the city flying more than 42 million passengers annually
The city’s unemployment rate sat at 3.3% in 2007
The city is the fifth largest in the nation with more than 1.5 million residents
The real sunshine state: 7.66 inches of rain fall on the desert city annually, with an average temperature of 72.6 degrees and 300 sunny days in the year
The residents are younger than the national average with 50% between 18 and 54 years old—the average person is 33
More than 490 public busses roam the streets with 152,502 residents riding daily
Phoenix’s South Mountain Park is the largest municipal park in the world covering 20,000 acres
The median family income in 2006 was $51,862 with the mean wage at $40,893
The median house value was $246,600 in 2007
A Glance In the Rearview Mirror
1.) What has changed about your hometown the most since you left?
THE REAL ESTATE BOOM! WE USED TO GO OUT TO BELL ROAD IN HIGH SCHOOL AND THROW “DESERT PARTIES”. THAT ENTIRE AREA IS NOW FULL OF NEW LUXURY HOME DEVELOPMENTS. IT’S NOW THE CENTER OF PHOENIX, AND IT USED TO BE THE BOONIES!
2.) What one characteristic in your life now do you credit your hometown for planting in you?
PHOENIX HAS A SLOWER PACE THAN MANHATTAN OBVIOUSLY. SOMETIMES WHEN I AM STRESSED BY THE NOISE AND THE CROWDS, I THINK BACK TO THE SILENCE OF THE DESERT, OR RUNNING THE GOLF COURSE NEAR MY HOME, AND THOSE MEMORIES CALM ME DOWN.
3.) What do you miss the most?
MY MORNING HIKES UP CAMELBACK MOUNTAIN. I WOULD GO EARLY TO BEAT THE HEAT, AND BY THE TIME I GOT TO THE MOUNTAIN’S PEAK, THE SUN WOULD BE RISING ON THE “VALLEY OF THE SUN.”
4) Given the chance, would you move back? Why?
I DON’T THINK I’LL EVER MOVE BACK, BUT I CERTAINLY ENJOY MY TIME WITH MY FAMILY AND FRIENDS WHEN I GO HOME. THERE ARE TOO MANY OTHER AMAZING PLACES IN THIS WORLD I’D LIKE TO EXPERIENCE.
5.) What economic opportunity has your hometown lost?
I AM DISAPPOINTED THE PUSH TO RE-DEVELOP DOWNTOWN HAS STALLED. THERE HAS BEEN SO MUCH BUILDING OUT INTO THE DESERT AND PEOPLE SEEM TO STAY MOSTLY IN THE SUBURBS. I WOULD LIKE THAT AREA TO RESEMBLE DOWNTOWN SEATTLE OR SAN FRANCISCO. THEY HAVE BEEN SOMEWHAT SUCCESSFUL, BUT IT COULD BE SO MUCH MORE.
6.) What does your hometown not get enough credit for?
ITS’ NOT THAT HOT! I GET TIRED OF PEOPLE TALKING ABOUT THE EXTREME TEMPERATURES OF PHOENIX. IT’S TOUGH IN JULY AND AUGUST, BUT THE OTHER TEN MONTHS OF THE YEAR ARE AMAZING. IF YOU WANT SUNSHINE OVER 300 DAYS A YEAR, PHOENIX IS FOR YOU!
Mr. Sports Man
Phoenix is home to four major professional sports league teams: the Phoenix Suns (NBA), Arizona Cardinals (NFL), Phoenix Coyotes (NHL) and Arizona Diamondbacks (MLB).
Last year, Arizona hosted Superbowl XLII the with more than 175,000 sports fans flocking to the city to watch the New York Giants put an end to the Patriot’s undefeated streak. The game generated $500 million for state.
Jerry Colangelo is no stranger to the sports world as businessman and sports mogul. With sports running through his blood, Colangelo has served as an assistant coach of the Chicago Bulls, general manager of the Phoenix Suns and is a former majority owner of the Phoenix Suns, Phoenix Mercury (WNBA), and Arizona Rattlers (arena football) and the Arizona Diamondbacks.
In 1968, Colangelo took over the expansion Phoenix Suns NBA franchise as the youngest general manager in professional sports and was instrumental in bringing a major league baseball team to The Grand Canyon State.
What’s Happening in Phoenix
Ariz. Hotels Aim to Lure Cash-Strapped Customers
Budget Cuts Force Phoenix to Cut Back on Bus Runs
Arizona Could Get First Wind Farm by 2010
ASU to Cut Enrollment at Nursing School Amid Funding Struggles
Some Green Consumers Angry Over Enhanced Tax Credits
October 17, 2008 7:55AM
By FOXBusiness.com
Beverly Hills is often associated with five numbers: 90210. But the economic opportunities in the city reach far beyond these digits.
The economy reaches close to $20 billion annually — with 75% of the city’s revenue coming from a measly 9% of the area that is zoned for commercial use.
Seven sectors make up the backbone of the city: retail, tourism and luxury services, professional services, financial services, real estate, entertainment services and information and technology.
The city has become synonymous with wealth, luxury, and fame and is home to many celebrities and major retail stores. The retail sector grew 5.7% from 2005-2006 and sales total $1.3 billion a year. 
Beverly Hills is home to some of the most exclusive and expensive retail stores in the world, including Chanel, Dolce & Gabbana, Fendi and Porsche Design. The most expensive store in the world, Bijan, is located on 420 Rodeo Drive; its average shopper dishes out around $100,000 on men’s fashions. A pair of socks there costs $50, and suits are around $15,000.
FOX Business anchor Liz Claman heads back to her hometown to prove American prosperity is alive and well.
Beverly Hills By the Numbers
In 2000 20.9% of firms in the area were owned by women
Close to 60% Beverly Hills residents are employed and their mean travel time to work is 23.9 minutes
The median family income is $80,721
The median value of home sits at $1,000,001 with the homeownership rate at 43.4% in 2000
Wholesale trade sales climbed to $663,890 in 2002
Cashing In on the Movie Industry
With several movies under his producer belt including, both National Treasure movies, Cool Runnings, and While You Were Sleeping Jon Turteltaub’s movies have become family favorites.
Turteltaub attended USC Film School and has been friends with Liz since kindergarten. He considers his first hit “3 Ninjas” and has dabbled in television by producing the CBS series Jericho.
In 2000, Turteltaub pulled in $5 million for directing The Kid.
The mega-hits National Treasure and its sequel Book of Secrets were box-offices smashes bringing in $347,512,318 and $457,364,600 respectively.
A Glance in the Rearview Mirror
What has changed about your hometown the most since you left?
Real estate. Prices were always high in Beverly Hills, but now they’re almost untouchable. I left in 1988 when you could still get a really nice HOUSE for $1.5 million. Now? No way. Even with the housing downturn, prices are still prohibitively expensive, so that’s what’s changed most. Oh yeah, and Jacopo’s, my *favorite* childhood pizza joint, closed down. Totally depressing.
What one characteristic in your life now do you credit your hometown for planting in you?Aiming for excellence. Growing up in Beverly Hills means seeing the possibilities. Everyone’s parents excelled to the top of their field, whether it was the entertainment industry, medicine, law, business. We had shining examples held up in front of us, almost as if to say, “Here’s what’s possible. Now go reach for it.”
What do you miss the most?
I miss the feel of my hometown. Everyone knows everyone, just like any small town in America. Everyone’s 
parents ask after each others’ kids, and everyone cheers each other on. And listen, the palm trees, gorgeous weather and free parking don’t hurt! Parking in NYC is $40 for 20 minutes!!!!
Given the chance, would you move back? Why?
Given the RIGHT chance, I’d move back to be with my family. All my sisters and my brother are still there. We’re each others’ best friends. We talk 12 times a day! But I adore the feel of NYC, the pace, the energy… I’ve been here for a decade now and my kids think they’re from New Jersey. I keep saying, “Yes but if anyone asks, say you’re “bi-coastal!”
What economic opportunity has your hometown lost?
To a *certain* extent, we’ve lost our Golden Goose: the entertainment industry! Why? Because ot
her states and countries are offering bigger and better tax breaks for movies to shoot there. Anymore, half of anything that’s supposed to look like LA on TV is probably shot in Toronto. Governor Arnold Schwarzenegger is working hard to push for better tax incentives to keep more production shooting days in the state of California but it’s a tough battle. He’s working with director Jon Favreau to make it happen, but so far we’re not there yet. It’s important not to kill the Golden Goose, so to speak. No one’s got Palm Trees like we do but other states are faking it pretty well.
What does your hometown not get enough credit for?
Believe it or not, Beverly Hills doesn’t get enough credit for being cozy and family-friendly. We have terrific schools, very low crime and (don’t choke) a down-to-earth feel to the town. Yep, I said town. Shopkeepers remember you when you come in, they ask about your folks, they’ll offer you a free sample of their latest dessert… I spend half my time when I’m there visiting businesspeople I used to know, just to say ‘hi’. Some even put my FOX Business photo up on the wall. When one of us does well, it’s revered. I love my hometown.
What’s Happening in Beverly Hills
Court Rules Against LA County Judge Benefits
Forecast: Calif. Home Prices Will Continue to Slip in ‘09
Schwarzenegger: We Can Cover Cost of Wildfires
California Pot Growers Get Scammed
September 19, 2008 9:51AM
By FOXBusiness.com
Originally built on shipping and shipbuilding, Boston’s economy has now a flourishing economy driven by health care, education and the biotech industries. Several of the most recognizable research and teaching hospitals are located in the city along with 34 higher education institutions. Boston was the birthplace of the mutual fund industry and several leading financial firms call Beantown home including Fidelty Investment 
and John Hancock Mutual Life Insurance Company.
Tourism is also a major source of cash for the city as it reigns as one of the country’s top 10 tourist attractions. The city boasts close to 2,000 restaurants and hundreds of hotels. In 2004 16.3 million visitors flooded the city and spent $7.9 billion.
Boston is one of the nation’s foremost fishing port and wool market—and more than two million pounds of fish are caught in the waters in and around the city annually.
FOX Business reporter Shibani Joshi heads back to her hometown to prove American prosperity is alive and well.
Boston by the Numbers
0 The number of tickets left for the 2003 Boston Red Sox and 2003-2004 Patriots home games
Feel like a bowl of chowder? Get ready to pay $4, the average price for a bowl in Boston
The unemployment rate sits at 4.6% in the city
Close to 70% of housing units in Boston are occupied by renters
For a two-bedroom apartment Bostonians pay $1,343/month, on average.
In 2003, the median household income was $42,567
About 250,000 college students live in Boston
Nearly 600,000 people call Boston home
Welcome to Harvard Business School
Harvard Business School is one of the most renowned business schools in the world and is legendary for its unique “case method” technique. Lectures, simulations and field work are also combined with this technique, but more than 80% of classes are built on the case method.
Faculty members spend weeks at different companies researching the situation—getting details of the 
problem, any decisions and the perspective of managers involved and then present the fully-detailed case to students to solve. Students scrutinize around 14 cases a weeks that have no obvious right answer. Students ponder the problems individually for a couple hours by conducting quantitative analysis and then test their thinking with a study group before class. Classrooms for the business school are set up amphitheater style to encourage discussions, and almost every class is starts with a “cold call” from the professor to a student to open a case. During their freshmen year, each student is cold-called at least once, but they get no warning so preparation is vital.
Advocates for the case method technique say it is the most demanding and provocative way to learn leadership skills applicable in the business world.
Watch the video to see Harvard Business School Professor Bill Sahlman discuss the relevance of the MBA in today’s rocky market.
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left?
Red Sox nation took on new fervor after breaking the long-standing “Curse of the Bambino“ with the Red Sox winning the 2004 and 2007 world series. All those Sox believers’ efforts paid off! I wish I was living in 
Boston at the time…what a life experience that would have been…but I have faith. The run isn’t over yet! I never really followed baseball until I moved to Boston…because it isn’t a game, it’s a religion there.
2.) What one characteristic in your life now do you credit your hometown for planting in you?
It’s hard to separate Boston from my experience of attending Harvard Business School. The school instilled me with a higher degree of confidence, challenged my thinking, opened up a new threshold of possibilities and gave me a greater sense that I have responsibility in creating greater good. When I think back to my time in Boston, that is what I credit the city and school for planting in me.
3.) What do you miss the most?
I miss the Charles River. For lots of reasons… my rowdy friends and I would tailgate watching the Head of Charles (the annual crew races) in an all-day affair. I often would run or rollerblade along the Charles to clear my head after a long day of school and sit along the banks with friends on a lazy Saturday afternoon. My apartment overlooked the Charles and my roommate at the time, Margaret, and I would often sit on the balcony and have the best conversations. Some days, friends and I would walk all the way from Boston along the river back to campus just to take in the view of the Charles.
4) Given the chance, would you move back? Why?
Absolutely! Boston has so much to offer its residents. You can attend a world class educational institution or work at some of the biggest and most highly-regarded companies in the world and have a life at the same time! Boston is such a “work hard, play hard” city that offers balance for those who want it. You can live in the suburbs and work in the city and the drive doesn’t take hours. You can escape to the Cape during the summers, take in a Pats or Celtics game or take your kids some of the most important historical sites in American history. There is so much the city has to offer.
5.) What economic opportunity has your hometown lost?
Well I don’t know if you can call Tom Brady an economic opportunity, but if you could, that would be it! Arguably one of the best QBs in the game out for the season is a huge loss - emotionally and economically, I would imagine. Thought the Pats are doing pretty well without him and are giving competitors a run for their money so far!
6.) What does your hometown not get enough credit for?
Being such a livable city. You can work at world-class top private equity firm, consumer products company, consulting firm, biotech firm or university and still have time to see your kids, afford a home and enjoy life. That is a highly undervalued virtue in today’s hectic times.
What’s Happening in Boston
- Massachusetts Mayor Changes Hats, Works at City Agencies
- Thousands of New Citizens Take Oath at Fenway Park
- Massachusetts Unemployment Rate Jumps to 5.3% in August
- Treasury Crook Agrees to Pay Up
- Putnam Investments Closes $15B Money-Market Fund
September 12, 2008 8:00AM
By FOXBusiness.com
San Francisco: It’s home to the iconic Golden Gate Bridge and the historic Alcatraz, Tony Bennett left his heart there, and Rice-a-Roni is the favorite treat.
It’s also a bustling town with a thriving economy. The city has a dozen Fortune 500 companies and over 43,000 businesses–establishing itself as an economic hot spot.
While tourism is the backbone of the economy, the city has its own Financial District that houses the Federal Reserve Bank of San Francisco and two of the country’s largest commercial banks.
FOX Business reporter Jenna Lee heads back to her hometown to prove American prosperity is alive and well.
San Francisco By the Numbers
12 Fortune 500 Companies call San Francisco Home Including Gap, Charles Schwab and Del Monte
The median price for a Bay Area home dropped 27% from 2007 to $485,000 in June
More than 30% of San Franciscans use public transportation
The median household income is $57,496
More than 95% of businesses in the city have 50 or fewer employees
744,041 people live in the ‘City by the Bay’
Airliners flew in 33,574,807 passengers into the city in 2006
The Port of San Francisco handled $72 billion of trade in 2006
Draping America in Denim
Founded in 1853, by Bavarian immigrant Levi Strauss–Levi Strauss & Co. is privately held by descendants of the family of Strauss.
The company’s products are sold in more than 55,000 retail locations worldwide, including 138 company-owned stores.
As consumers tighten their purse strings, the company is feeling the pinch and reported its net revenues decreased 8% in the second quarter, but posted $1 million in net income.
The retailer employees10,000 people worldwide, including approximately 1,010 at the San Francisco headquarters.
The company has a reputation of strong corporate citiznenship and in1992 became the first major Fortune 500 company to extend full medical benefits to domestic partners of employees.
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left?
I left San Francisco right after the tech bubble burst - the industries that are surfacing and blooming are “green” businesses. It seems innovators of alternative energy are the new “forty-niners”.
2.) What one characteristic in your life now do you credit your hometown for planting in you?
San Francisco is surrounded on water by three sides…as a San Franciscan, I was always reminded of how much bigger the world was then just my small town - and that opportunity is endless.
3.) What do you miss the most?
San Franciscans! The can-do, innovative, risk-taking, creative force of the Americans in the Wild West.
4) Given the chance, would you move back? Why?
San Francisco will always be my home - I believe I carry that wherever I live.
5.) What economic opportunity has your hometown lost?
San Francisco is one of the most expensive places to live and one the most expensive places to do business. I feel this is starting to siphon certain businesses from setting up shop here and this is concerning because entrepreneurs are so much a part of the city’s history.
6.) What does your hometown not get enough credit for?
San Francisco is criticized for what it deserves credit for…originality.
What’s Happening in San Fran.
–99 Cents Only Stores Boost Prices
–LA Turns to Goats for Eco-Friendly Urban Cleanup
–Study: Californian Farmers can Profit from Saving Water
–San Francisco Juvenile Offenders Sent to Southern California
–Study: California Home to Most Expensive Housing Markets
September 5, 2008 11:56AM
By FOXBusiness.com
Harlem stretches from the East River to the Hudson River between 158th Street and is broken into different sections including east, central and west Harlem.
In the 1920s and into early 1930s Harlem experienced cultural movement known as the Harlem Renaissance–ushering in an era of new prosperity for the black community .
Home to landmarks for some of the greatest contributors to American and African American culture, there are no signs of the economic wave slowing.
FOX Business reporter Charles Payne heads back to his hometown to prove American prosperity is alive and well.
Harlem By the Numbers
The Apollo theater attracts 1.3 million visitors annually and is Manhattan’s 3rd most popular tourist 
destination
In 2004 the median price for a co-op and condo was $305,490 up 32.8%
$41,966: The average household income
There are more than 59,000 Harlem residents and the median age is 32
Former President Bill Clinton moved his office to the 14th floor penthouse office at 55 W. 125th Street
Harlem Real Estate Renaissance
As the neighborhood continues to experiencing social and economic gentrification, the real estate industry is booming. Even though home prices and rent are close to 20% lower than what you will pay in the rest of Manhattan, the industry is booming.
In 2005, sales of condominiums and co-ops located above West 116th Street and East 96th Street made up 5.5% of all sales in Manhattan–compared to the 3.6% in 2003.
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left?
It’s become cleaner, less violent, and much more expensive as well as much more diverse.
2.) What one characteristic in your life now do you credit your hometown for planting in you?
Lack of fear…I worry, but for the most part I have rarely been afraid of anything since I left my hometown.
3.) What do you miss the most?
The energy and vibrancy of the people can’t be found anywhere else in the world. I often have my friends and family from the hood over to the house now and always have a great time with them.
4) Given the chance, would you move back? Why?
I would not because it is still too rough for my children. I live in a house with a swimming pool, pool table, big back yard and a nature preserve with animals like deer.
5.) What economic opportunity has your hometown lost?
Organic growth has passed a lot of long-time residence by and now it’s unlikely they could enjoy the renaissance of Harlem.
6.) What does your hometown not get enough credit for?
It has nurtured so many people and was the home of creatively that enhanced literature, art and music. That legacy has faded over the last decade or so.
What’s Happening in Harlem
August 29, 2008 12:47PM
By FOXBusiness.com
So just where is Waretown, NJ? The city sits on Jersey’s shoreline and is 102 minutes from New York City.
The quaint town is a tourist hot spot in the summer and has a population of less than 2,000 people.
FOX Business reporter Jeff Flock heads back to his hometown to prove American prosperity is alive and well.
Waretown By the Numbers
Median property taxes sat around 2.5% in 2000
It’s a small city with only 1,582 residents
44,135 books are in circulation in the town’s library
Residents of Waretown made an estimated median household income of $49,800 in 2005
Residents have an average median age of 40.1
The median house value is $190,400 with a median average of 5.6 rooms
A Tribute to Bluegrass
Often referred to as the “Nashiville of the North,” the Albert Music Hall is a cultural hot spot in the small town. The hall pays homage to bluegrass superstar brothers Joe and George Albert. With Joe on washtub bass and George on the fiddle, the pair played an assortment of music including played bluegrass, country, and pinelands.
Musicians and music lovers gather in the 51-acre plot every week to play music and dance in the spirit of the gatherings the brothers held at their cabin long ago. On Saturday nights in the summer there is standing room only with different people staying till the wee hours as the performing groups rotate every 30 minutes.
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left?
It got “discovered.” Too many people have moved to what was once a sleepy little Jersey shore town. My house was once surrounded by woods. Now the houses are cheek to jowl.
2.) What one characteristic in your life now do you credit your hometown for planting in you?
Self-reliance. My hometown had lots of humble people, many literally living off the land, bay and ocean. They didn’t ask for help in tough times, they figured a way to make things work. They made do with what they had or what they could find.
3.) What do you miss the most?
I miss the ocean, the rivers and the woods…all right there outside my door or not far away.
4) Given the chance, would you move back? Why?
It’s tough to have a high-powered career in Waretown, but if I were to retire or opt for a simpler life I would think about it. There are still some unspoiled spots in the pines. Living right on the beach would be a dream. And perhaps if my investments pan out, I’ll be able to afford a sliver.
5.) What economic opportunity has your hometown lost?
Commercial fishing. When I was a kid many people made their living fishing, crabbing and clamming. While not totally gone, there isn’t as much sea food to harvest these days and state regulations aimed at preserving what’s left led one of my fisherman friends to supplement his income by buying an ice cream shop.
6.) What does your hometown not get enough credit for?
People don’t think of small, rural towns when they think of New Jersey, but that’s what Waretown was and to some degree still is.
New Jersey in general does not get enough credit for being a beautiful place to live. The Jersey Pines are a little bit of paradise. The Jersey shore has some of the greatest beaches in the country. The ocean is a treasure. You can get all of that in the same day if you live in Waretown, New Jersey.
What’s Happening in Waretown
August 22, 2008 9:56AM
By FOXBusiness.com
With more than two dozen Fortune 500 companies making their headquarters in Chicago, the Windy City is a financial powerhouse. The city produced $419 billion in 2005 and boasts more than 200,000 firms. More than 11 million contracts exchange hands on the Chicago Mercantile Exchange a day and $90 billion in currency transactions.
Entrepreneurs are seizing their chance and making the most of the city with more than 172,000 companies with fewer than 20 employees.
FOX Business reporter Sandra Smith heads back to her hometown to prove American prosperity is alive and well.
Chicago: By the Numbers
29 Fortune 500 companies call Chicago home, including Boeing, Wm. Wrigley and Northern Trust Corp.
The Sears tower is the nation’s tallest building with 110 floors
The Magnificent Mile stretches across 8 city blocks with over 460 stores
Renters pay a median price of $803 a month for housing
Chicagoans took home a median income of $43,223 in 2006
190,000 travelers pass through O’Hare International Airport every day
The median house value was $277,900 in the Windy City for 2006
More than 2 million books are housed in the world’s largest public library: Harold Washington Library Center
$16 billion went to NAFTA country partners in 2007
A Glance in the Rearview Mirror
1.) What has changed about your hometown the most since you left?
The skyline. Two buildings expected to be the tallest in the world are already in the works in Chicago adding to the large number of high rises that have been popping up over the past several years. Yet you can still count on the Sears tower and the John Hancock building to define the ever-changing Chicago skyline.
2.) What one characteristic in your life now do you credit your hometown for planting in you?
Friendly demeanor. The people in the Midwest are among the friendliest in the country. Complete strangers smile and wave when they pass- I love that. It was all about the people for me.
3.) What do you miss the most?
The loop. It’s an area in downtown Chicago where the elevated train makes a loop around what is essentially the business district. I grew up going down there with my dad, seeing my uncles and my brother at the exchanges. To this day, when I am back there, I bop my head into brokerages and trading floors to say hi to people that have known me since I was a kid.
4) Given the chance, would you move back? Why?
Never say never. Everyone always asks me- which do you prefer? Chicago or New York? I say apples and oranges. I love both, but for very different reasons.
5.) What economic opportunity has your hometown lost?
Closing down Meigs field. Big mistake.
6.) What does your hometown not get enough credit for?
Its beauty. It’s funny how people picture Lake Michigan as some tiny little lake. It is a spectacular place to sail, run or bike on the lakefront, or even just take in the view.
The Business of Baseball
*Statistical Source: Forbes.com
Where the Jobs Are
| Agricultural |
<1% |
|
 |
| Construction |
6% |
| Manufacturing |
11% |
| Wholesale Trade |
3% |
| Retail Trade |
9% |
| Transportation |
6% |
| Information |
3% |
| Finance, Insurance, Real Estate |
9% |
| Professional, Scientific, Management |
14% |
| Education, Health Care, Social Assistance |
20% |
| Arts, Entertainment, Recreation, Food Services |
10% |
| Other Services |
5% |
| Public Administration |
5% |
*Source: Census Bureau, American Community Survey 2006
What’s Happening in Chi-town
