Sea Island Co. had a reputation for immunity to economic whims while over-borrowing and over-expansion? Hm, they’re not the only ones. As recently as 28 April 2008 the VDT published a story “Analyst: Valdosta ‘recession-proof'”:

RALEIGH, N.C. (AP) — Using data from the Bureau of Labor Statistics, business consultant and president of JobBait.com Mark Hovind ranked every metropolitan statistical area across the country, highlighting those he deemed to be “recession-proof.” The city of Valdosta was the only Georgia city to make the list.

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