Power Breakfast: Surviving the Great Recession, drought, Sea Island, Chick-fil-A, Delta, immigration

As the region’s per capita income last year dropped more than the national average, many Atlantans are cutting back to survive, AJC staffers Katie Leslie and Craig Schneider report.

Mortgage broker Stuart Landman is clipping coupons now.

Rick Hawkins, a Riverdale cabinet maker, laid off most of his workers — and sold off nearly all of his vintage cars, the reporters write.

And when John Veal, an IT manager from Cherokee County, lost his job, he cashed out his 401(k) plan to pay bills.

For them and others, living is no longer about success. It’s about trying to make it through this Great Recession, Leslie and Schneider report.

Across metro Atlanta, per capita income shrunk 4.8 percent — down from $38,336 in 2008 to $36,482 to 2009. Per capita income nationally dropped 2.8 percent to $40,757, according to figures from the U.S. Department of Commerce.

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3 comments Add your comment

light

August 12th, 2010
7:32 am

Let God will be done thru this blog http://lightoftheearth.blogspot.com/

TnGelding

August 12th, 2010
7:51 am

Just like the GOP wanted. We were getting a little too wealthy for their comfort. How dare working stiffs own nice homes and cars or have savings!

Sea Island? Where dat?

shadow7071

August 12th, 2010
8:13 am

In order to turn this around we have to create real, sustainable, value adding jobs. We have given away thousands of jobs in the name of globalization and now we’re wondering what’s wrong with our economy. People are losing their homes. Real estate sales are down. Retail sales are stagnate. People are spending through their savings just to keep to survive. And we’re told that all of this is the result of sub-prime mortgages. Bull! The reason that many of these sub-prime mortgages went bad is because people lost their jobs (to offshoring) and could no longer meet the payments. But the banks, Wall Street and the Government are not going to admit to this. Oh no, they’re laying the blame at the people who defaulted on their loans. Telling us that they made poor choices. Didn’t budget their income. Over extended themselves. They just conveniently forget to include that many of these unfortunate folks lost their jobs to globalization. And, now, they can’t find another job.