August 12, 2011
While doomsday predictions from headline grabbers like Meredith Whitney may not come true, nobody denies that many U.S. municipalities continue to struggle under the weight of unfavorable trends….
If developments in Illinois are any indication, the “death care” business could face headwinds as cities and states cut back on spending. In Illinois, the city reserved $13 million to pay for around 12,000 funerals for families that could not afford them. In the 2011 budget, the amount dropped to $1.9 million. While the state could still secure additional funds to meet the likely shortfall, the trend is clear and this could mean less opportunities for death care companies across the country.
Read the full article at Seeking Alpha
Thanks to ConnectingDirectors for altering us to this article.
Why Illinois Can’t Afford its Poor Dead