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Wall Street Ripple: Bloodbath By the Numbers

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Not to be alarmist! But: things are contracting a little more quickly than expected across the nation -- nay, the world -- and that doesn't exclude the Bay Area. Tell you something you didn't already know? Well, it's worse than we might've initially optimistically presumed. Layoffs are expected at more than half of Bay Area construction companies within the next six months due to the once-gushing condo and office building that's slowed to a viscous trickle. More than 700,000 square feet of rented office space has been abandoned and left vacant this year -- and that was before the whole collapse-'n-panic. Shocker: "We are not at the bottom," said one tenant broker.
· Bay Area business reeling from global downturn [SF Examiner]