Reuters - A majority of Americans expect a recession in the next year as the housing downturn deepens, inflation rises and credit conditions tighten, a Reuters/Zogby poll released on Wednesday showed.

Philly Fed index seen still negative in February (Reuters)
Reuters - Factory activity in the U.S. Mid-Atlantic region is likely to have posted a third month of contraction when February data is released on Thursday, adding to suspicions that recession has taken hold nationally.
Depending on the size of your liability, it might be more expensive to submit receivership than to continue to run your business and try to mend it. The business sole proprietor would get rid of a $1.3 million in liability in return for a $200,000 advance. The board, bank officers and backers will need to see you take dramatic steps to save your enterprise and, most importantly, their stake in your enterprise. In particular, you must know your options to default and how you can fix your company. Every meeting you attend is an opportunity to market the progress of firm's turn around. One of our board members introduced us to him. Hence factoring makes sense when your business is in decline. If you own an enterprise (or an Llc or LLP) or are an officer in one, you might have signed a personal pledge on some of the business's liability. Have a lawyer, auditor or broker develop the first contact and gauge interest. Once you receive the board's authorization for your turn around plan, you will be able to set up your new senior team that you identified in your administrative design work. If you've not done so already, you might get some added liability protection by changing from a sole proprietorship or partnership into a lay off lawful entity. In essence, you increase your money balance by marketing stuff and collecting quickly what customers owe you, and by slowing expenses to vendors and borrowing more.

Before submitting for receivership as an enterprise or partnership, schedule an appointment with an insolvency legal counselor to converse these issues. After watching their enterprise slowly fall to pieces, many small company owners believe they have no other determination but to petition for chapter 11 bankruptcy. Don't see coming Chapter eleven to turnaround your business, unless you're sitting on a pile of cash before you request.