Atlanta's dependence on Investment (credit, loans, Home Depot)

[Mike_IN_AUG]

I have been studying the economy of Atlanta, as many of you know from my frequent posts, and I have been very satisfied and happy that you guys have helped me so much. The Atlanta community has been very nice in answering my questions, unlike many other cities I have studied.

Ok, well basically the question here is,

Atlanta is so dependent on outside investment. I have seen a lot of projects and growth in Atlanta and while providing the people, land and even the entrepreneurs, Atlanta can not provide the capital needed for residential developments or business loans.

This makes me question the saving habits and styles of many in the city. I think that Atlanta has very little savings, as a metro, for projects in its own back yard.

There does not seem to be the deep pockets of established banks, nor a private equity environment. Atlantans companies are greatly ran off of organic growth and have a line of credit, but not usually large and many times cannot get loans, despite being profitable and having collateral.

Outside metros continue to dominate the investment in Atlanta. Texas, an export rich state, has many cities that pile money into the ATL region for an exposure to the SouthEast, to diversify their holdings and provide high interest loan situations. New York invests in Atlanta through financial services firms in Atlanta also.

Is there any anecdotal experiences of info that is relevant to this. Is there any banker in Atl who can speak upon this?

Thanks as always, you guys are awesome. Go Falcons, Braves and Georgia!

[afonega1]

Originally Posted by Mike_IN_AUG

I have been studying the economy of Atlanta, as many of you know from my frequent posts, and I have been very satisfied and happy that you guys have helped me so much. The Atlanta community has been very nice in answering my questions, unlike many other cities I have studied.

Ok, well basically the question here is,

Atlanta is so dependent on outside investment. I have seen a lot of projects and growth in Atlanta and while providing the people, land and even the entrepreneurs, Atlanta can not provide the capital needed for residential developments or business loans.

This makes me question the saving habits and styles of many in the city. I think that Atlanta has very little savings, as a metro, for projects in its own back yard.

There does not seem to be the deep pockets of established banks, nor a private equity environment. Atlantans companies are greatly ran off of organic growth and have a line of credit, but not usually large and many times cannot get loans, despite being profitable and having collateral.

Outside metros continue to dominate the investment in Atlanta. Texas, an export rich state, has many cities that pile money into the ATL region for an exposure to the SouthEast, to diversify their holdings and provide high interest loan situations. New York invests in Atlanta through financial services firms in Atlanta also.

Is there any anecdotal experiences of info that is relevant to this. Is there any banker in Atl who can speak upon this?

Thanks as always, you guys are awesome. Go Falcons, Braves and Georgia!

How do you figure Atlanta is any more dependent on outside investment than any other city?
Sorry but Im not sure if you are aware of the depth?

Especially with al the home grown companies headquartered in Atlanta.

Coca-Cola,Delta,Home Depot,TBS,etc...all are companies that have invested HEAVILY in Atlanta.
Even Intercontinental Exchange based in Atlanta organized the acquisition of NYSEEuronext.

Georgia Tech is also part of the development of Atlanta which has spawned off many companies

[cwkimbro]

Well I'm curious what data you're looking at.

I fear you might be clouding some things up. The real issue is banks in this country are rapidly become nationwide, as opposed to local. Its not that people here aren't saving, its that the lending institutions are more country-wide.... and spread their risks more across wide geographic areas.

To further complicate this.. States like Georgia, Nevada, and Florida (amongst others) got hit harder in the recession housing bubble... This hurt the weaker local banks and cause more people to use the convenient national and regional banks.

It is worth noting however that a South Atlantic regional bank, SunTrust, is headquartered here and is the 13th largest bank in the country.

[cwkimbro]

Originally Posted by afonega1

Even Intercontinental Exchange based in Atlanta organized the acquisition of NYSEEuronext.

Its just the NYSE; ICE recently unloaded Euronext through an IPO.

[afonega1]

Originally Posted by cwkimbro

Its just the NYSE; ICE recently unloaded Euronext through an IPO.

[ericsonga]

Originally Posted by Mike_IN_AUG

I have been studying the economy of Atlanta, as many of you know from my frequent posts, and I have been very satisfied and happy that you guys have helped me so much. The Atlanta community has been very nice in answering my questions, unlike many other cities I have studied.

Ok, well basically the question here is,

Atlanta is so dependent on outside investment. I have seen a lot of projects and growth in Atlanta and while providing the people, land and even the entrepreneurs, Atlanta can not provide the capital needed for residential developments or business loans.

This makes me question the saving habits and styles of many in the city. I think that Atlanta has very little savings, as a metro, for projects in its own back yard.

There does not seem to be the deep pockets of established banks, nor a private equity environment. Atlantans companies are greatly ran off of organic growth and have a line of credit, but not usually large and many times cannot get loans, despite being profitable and having collateral.

Outside metros continue to dominate the investment in Atlanta. Texas, an export rich state, has many cities that pile money into the ATL region for an exposure to the SouthEast, to diversify their holdings and provide high interest loan situations. New York invests in Atlanta through financial services firms in Atlanta also.

Is there any anecdotal experiences of info that is relevant to this. Is there any banker in Atl who can speak upon this?

Thanks as always, you guys are awesome. Go Falcons, Braves and Georgia!

What data do you have? Are you trying to tell me Home Depot and Coca Cola can't get a loan?

What cities would "pile money into the ATL region for an exposure to the Southeast?" Are you trying to say companies from other cities have satellite offices here? Then yes, Atlanta has many companies with offices here. This is a global economy...

[afonega1]

Originally Posted by ericsonga

What data do you have? Are you trying to tell me Home Depot and Coca Cola can't get a loan?

What cities would "pile money into the ATL region for an exposure to the Southeast?" Are you trying to say companies from other cities have satellite offices here? Then yes, Atlanta has many companies with offices here. This is a global economy...

Yeh its so puzzling how he came to this conclusion.

I mean Coke and the Wooduff Family alone built a lot of Atlanta.