Edward E. Cambas

All we know is that things do not appear to be getting any better. Make sure that you proceed with caution on all new concepts and great ideas. Now, realistically is not the time to open new enterprises.

According to Ina Paiva, at the Miami Herald, Miami Condominium project will be handed back to lenders. This is the latest in a string of condo turnovers since mid-april. A pair of 49-story towers in downtown Miami will go back to the banks. If approved by the bankruptcy court, the deal would settle the Chapter 11 bankruptcy case of the project developer. There are still hundreds of unsold units and it really does not appear that things are getting any better, in fact it seems like they be worsening.