Yet Another Example of Where We Are Vulnerable

Read this story in the Atlanta Constitution. It's about an economic development deal that headed south. The Constitution raises the almighty question: Have we done sufficient due diligence? Go here to read about the Macon, Georgia situation.

Don Iannone's 48th Law of Economic Development Success says: "Deal-making is your number one job, but economic risk management is your second most important job."

Also, remind your stakeholders that even good deals are turning bad in our current economic environment. I am finding that even where effective due diligence was done, companies are running into serious problems in honoring their incentive agreements. People need to really look at how the current state of world affairs is eroding local economic success everywhere. It's a huge ball of string that is coming unraveled everywhere.