Connecticut - Profile and Business Opportunities

Jan. 16, 2011 - PRLog -- Foreclosure activity in the state does not yet appear to be leveling off as it is elsewhere in the country.

Properties with at least one foreclosure filing totaled 21,705, up 10.3 percent from 2009, according to RealtyTrac, the foreclosure tracking firm, which is releasing its year-end report of national and state-by-state numbers.

That compares with a nationwide increase of 1.7 percent to a 2.9 million in 2010, according to RealtyTrac. That's the highest level nationally since RealtyTrac began reporting foreclosure data in January 2005.

The annual increase came even though Connecticut saw some monthly declines in foreclosure filings in 2010, including a steep slide in November. Those declines, however, were attributed to the aftermath of a foreclosure freeze by some of the nation's largest banks and mortgage servicers, rather than a marked improvement in borrower ability to make mortgage payments.

In December, foreclosure filings totaled 1,120, up 6.7 percent from November's total of 1,050. The number of filings, however, represented a 54 percent drop from December 2009. Nearly half of the filings in December, 551, were filed by lenders and servicers taking back properties.

Connecticut had one foreclosure filing for every 1,288 households in December, compared with one for every 501 households across the nation.

As of 2005, Connecticut has an estimated population of 3,510,297, which is an increase of 11,331, or 0.3%, from the prior year and an increase of 104,695, or 3.1%, since the year 2000. This includes a natural increase since the last census of 67,427 people (that is 222,222 births minus 154,795 deaths) and an increase due to net migration of 41,718 people into the state. Immigration from outside the United States resulted in a net increase of 75,991 people, and migration within the country produced a net loss of 34,273 people. Based on the 2005 estimates, Connecticut moves from the 29th most populous state to 30th.

General Electric Co. announced that it will buy privately held Lineage Power Holdings Inc. in a deal worth $520 million to tap into the growth in data centers, electronic devices and telecommunications.

Lineage Power produces equipment that converts electric power back and forth from alternating current, or AC, to direct current, or DC.

This kind of equipment is used inside personal electronic devices like mobile phones and also to convert electricity from the grid or from generators to power computers inside data centers, telecommunication antennas and other electric industrial equipment.

GE, based in Fairfield, said Thursday that the market for power conversion equipment is $20 billion and growing fast.

The total gross state product for 2006 was $204 billion. The per capita income for 2007 was $54,117, ranking first among the states. There is, however, a great disparity in incomes throughout the state; although New Canaan has one of the highest per capita incomes in America, Hartford is one of the ten cities with the lowest per capita incomes in America. As with Bridgeport, New Haven and other cities in the state, Hartford is surrounded by wealthier suburbs.

New Canaan is the wealthiest town in Connecticut, with a per capita income of $85,459. Darien, Greenwich, Weston, Westport and Wilton also have per capita incomes over $65,000. Hartford is the poorest municipality in Connecticut, with a per capita income of $13,428 in 2000. There are other lower-income and blue-collar towns, mostly parts of towns, in the eastern part of the State.

One dynamic star on the U.S. business scene is The ACFN ATM Franchise Business, headquartered in San Jose, California, where the company was ranked by the Business Journal as the 43rd Fastest Growing Private Company in Silicon Valley for 2007 - 2009.

Entrepreneur Magazine's Franchise 500 listing for 2010 ranks ACFN, the only ATM franchise business in the US, #1 in category "Miscellaneous Financial Services".

ACFN the innovative ATM Franchise Business based in Silicon Valley, is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses.

“ACFN is a U.S. company with operations in all 50 States and Canada, however by utilizing our franchise business model we maintain the operating efficiencies of a local company”, says Jeff Kerr, Founder and President of ACFN.

“ ACFN's ATM franchise equips you with the tools and the know how to manage the business". Avi Blankroth, Executive Vice President of ACFN says. "The process begins with each franchisee purchasing ATMs, while ACFN locates and contracts lucrative placement locations"

About  ACFN

http://www.youtube.com/watch?v=y2DuNabUgNA



Find out how you can benefit from ACFN to help deliver return on investment, positive cash flow and improved revenue.

More information is available at:

http://www.acfnfranchised.com/

American Consumer Financial Network (ACFN)
111 W. St. John St
Sixth Floor
San Jose, CA 95113

Tel: 888-794-2236

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ACFN is North Americas only ATM franchise focused on providing ATM services to hotels and other travel and entertainment based businesses. Providing ATM services since 1996, franchised in 2003 with 170 franchises, 1400 ATM Machines in the US and Canada.