Power Breakfast: Ga. consumers in distress, old Sears complex, Google, Fulton waste, BP, Apple, Bernanke

The economy may be improving, but Americans — Georgians, in particular — remain in financial “distress,” according to a new survey, AJC reporter Dan Chapman writes.

The quarterly survey by CredAbility measures a consumer’s job status, ability to pay rent or mortgage, credit worthiness, spending habits and net worth. In all, CredAbility crunches data from 38 government and private sources to determine what it calls the most comprehensive measure of financial stability, Chapman writes.

While consumers are  saving more money, the unemployment-and-foreclosure morass continues to batter the average American household’s economic health.

Americans, during the first quarter of 2010, registered a 64.2 score (out of 100). Georgians scored 60.1.

“If you have a 70 or below, you are in trouble, in distress, your situation isn’t stable anymore and you need to take immediate action,” said Mark Cole, the credit counseling agency’s chief operating officer. “You can’t afford to wait.”

Also in the AJC:

In other media:

For instant updates, follow me on Twitter.

2 comments Add your comment

TnGelding

May 26th, 2010
6:12 am

Well, we’ve been living on credit for decades. The lesson is painful but much needed. Those of us that have been prudent are going to have to carry the day.

This Korean thing has been festering for 60 years. Time to bring it to conclusion. Ditto for Tibet and Taiwan. Not to mention Cuba.

Morrus

May 26th, 2010
8:15 am

Curiously, in a supposed anti-incumbent year, most of the departing are not retiring but seeking higher office. We may recycle more than we replace. The bad news is that a frustrating 114 seats still have but one contestant. Two of them aren’t even incumbents, meaning they will affect state policy without being vetted by voters. And I have to think that we’d be better off if many had run instead for the Legislature — and cut down on the number running unopposed. Georgia’s problems are numerous. They aren’t going away. There’s too much stale thinking at the Capitol, on both sides of the aisle. New voices would be welcome.