Thursday, May 23 2013 7:30 AM EDT2013-05-23 11:30:38 GMT
Dougherty County Police believe a pair of convenience store smash and grabs may be the work of the same two men. The first smash and grab happened around 2:20 am at the Pit Stop convenience store atMore >>
Dougherty County Police believe two men are behind a smash and grab and a break in at two convenience stores within four miles of each other.More >>
Wednesday, May 22 2013 11:26 PM EDT2013-05-23 03:26:38 GMT
If you're traveling this Memorial Day Weekend, you may notice you're paying about the same at the pump as last year. AAA says the average gas price in Georgia right now is about $3.46 a gallon. That'sMore >>
If you're traveling this Memorial Day Weekend, you may notice you're paying about the same at the pump as last year.More >>
Wednesday, May 22 2013 11:20 PM EDT2013-05-23 03:20:46 GMT
Looks like will have great weather for Memorial Day weekend and DNR Rangers are preparing for big crowds on Lake Blackshear. Rangers expect a large number of boaters all weekend. They say they will strictlyMore >>
Looks like will have great weather for Memorial Day weekend and DNR Rangers are preparing for big crowds on Lake Blackshear.More >>
Wednesday, May 22 2013 11:14 PM EDT2013-05-23 03:14:04 GMT
A Cordele woman and her father are leading an effort to send clothes and other supplies to tornado victims in Moore, Oklahoma. Not only are a lot of people already donating items, but people are chippingMore >>
A Cordele woman and her father are leading an effort to send clothes and other supplies to tornado victims in Moore, Oklahoma.More >>
Wednesday, May 22 2013 8:20 PM EDT2013-05-23 00:20:52 GMT
The Lee County Sheriff's Department is now working with the Albany Crime stoppers. The Lee County Sheriff's Department asked to join the Albany Crime-stoppers program. The Sheriff's Department believesMore >>
The Lee County Sheriff's Department is now working with the Albany Crime stoppers. The Lee County Sheriff's Department asked to join the Albany Crime-stoppers program. The Sheriff's Department believes it will be a helpful tool in closing some cases.
ALBANY, GA (WALB) - Bankruptcy trustees say commercial foreclosures and business bankruptcies in South Georgia are starting to skyrocket.
As the economic crisis rolls on, personal bankruptcies and home foreclosures continue to increase as well.
South Georgia bankruptcy attorneys say they're really starting to see the lack of economic activity, and you'll notice it with more commercial buildings on the foreclosure block along with homes.
The public notice of buildings and homes in newspapers to be auctioned on the Dougherty County Courthouse steps the first Tuesday of the month continues to grow. "Six pages of foreclosure ads. Which is a lot, " said Bankruptcy trustee Walter Kelley.
One of those notices, the Trinity Metropolitan Baptist Church. The church on West Gordon Avenue and other commercial properties it owns are scheduled to be sold at auction after defaulting on a $590,000 loan.
Bankruptcy attorneys say clients they are seeing now will bring about a big rise in commercial defaults.
"Anything building related is in trouble. I'm seeing a lot of the building related, like building and supply places. The sub contractors, the carpet people don't have anything to do. The lighting people are down," Kelley said.
Bankruptcy attorneys say the Cooper Tire plant closing is starting to hit South Georgia businesses.
"The people who supplied Cooper are starting to see an effect trickling down into their business. So our local suppliers. The local merchants who provided that, it's rippling out into the community," said Bankruptcy attorney Tony Blakey.
Walter says some businesses that face commercial foreclosure will move, but many will have to file bankruptcy. Many employees will lose their jobs, but Kelley says many of those employees will spark the economic recovery with their own entrepreneurship.
"It gives new opportunity for other people, and people learn from the mistakes of the old business. You start over and hopefully come out of it," Kelley said.
Kelley said it's not just South Georgia seeing this increase in commercial foreclosures, he says city's across the state are experiencing the same thing. He calls it the second wave of the economic meltdown.
With Cooper shutting down and new construction way down, Kelley says they expect Southwest Georgia businesses to struggle for at least another year, and then hopefully the economic recovery will then start to help people and businesses get back in the black.