From ‘It Sucks’ To Worse: Experts Describe The Economy

Anybody who attended Saturday’s Dallas Business Hall of Fame gala hoping to hear some encouraging words about the economy pretty much had their world crushed. Jump to find out why.

Four key attendees at the Junior Achievement of Dallas event at the Hotel InterContinental were bearish on business conditions, including Hall of Fame inductees Gerald J. Ford, the banker, and developer Lucy Billingsley. Asked for his take on the economy, Ford replied bluntly: “It sucks.” Billingsley said her much-touted Two Arts Plaza building is pretty much on hold, pending lining up a major tenant. (Two previous good prospects wriggled away.) Meantime, U.S. Rep. Pete Sessions said he’s “worried” about the economy–and fears it’s going to get much worse. And, up on stage, KRLD-AM business analyst David Johnson summed it up this way: “We’ll fare better (in North Texas), but it’s not a very good situation right now. In fact, one word descibes this economy …” With that, Johnson let out the biggest, sloppiest “raspberry” anyone’s probably heard in public around here in years.