There is only one way this will end bump.
Posted on 07/02/2009 11:55:22 AM PDT by SeekAndFind
Entrepreneurship and new small businesses are supposed to lead us out of the recession, just as they have in prior downturns, right?
Sure. Your neighbor's grand idea will persuade a bank to lend her start-up money; she'll open for business in six weeks; and money will immediately flow from customers to her to her employees. Taxes will be paid, and the national economic engine will hum effortlessly in no time.
If only.
Today shows a different reality: Commercial bankruptcies are surging. Fewer people are starting small businesses, and firms already open are struggling under changing consumer habits, a lack of funding options and tougher bankruptcy laws. If a nationwide trend seen since January holds true, more than 300 businesses will file for bankruptcy — today alone.
Cafe Boulevard, for 12 years a popular European-style restaurant in Dayton, Ohio, hasn't been able to endure the downturn.
Rising gas and food prices, increased competition and an ill-timed expansion cut profits. Local unemployment made matters worse, because the regulars no longer showed up. In April, the restaurant's owner, Eva Christian, was one of 8,149 U.S. business owners who filed for bankruptcy-court protection.
She didn't close the cafe. Instead, Christian is trying to retain her employees while she works with creditors.
"When I decided to file for Chapter 11 bankruptcy, I felt crushed," Christian says. "But my attorney said that Donald Trump did it, and GM did it, and Delta did it. It gives people the opportunity to bounce back."
The first five months of this year have shown a 52% increase in the total number of commercial bankruptcy filings (36,106) compared with the same period last year (23,829), according to the Automated Access to Court Electronic Records.
(Excerpt) Read more at abcnews.go.com ...
You wanted him Ohio, you got him.
ABC’s real take on this: “Aw, shucks...”
This is exactly what we have been saying for months. It is all part of the 0bama plan to collapse the economy and enslve us all to government dependence.
Geez, hes got 10 people standing behind him talking about a loss of 400,000 + jobs, which he later “Gaffs” as 4,000 when compaing it to last QTR.
Its is Historically OBVIOUS how to end a recession and create jobs....Obama is clueless. Then he pushes his HUGE TAX and KILL bill that passed the CONGRESS.
I think hes underwater.....BIG Time.....He can’t recover an Economy or Tead water. Hes sinking in the Deep end..who wants to rescue him ?
“Hes sinking in the Deep end..who wants to rescue him ?”
George Soros
The State Run Media
52% of the American people, who coincidentally, are retarded.
The aim of these communist/fascist bastards has always been to destroy the independent small business, the entrepreneur. They want us hereded into cities and into industry dorms just like in China - unarmed, cowed and submissive. We are nothing but cattle to those who would rule us now. That’s how they see us and that’s why they have such hatred and contempt for us.
There is only one way this can end....
“who wants to rescue him ?”
George Soros
The State Run Media
52% of the American people, who coincidentally, are retarded.
10 SMALL business employers standing behind BHO as a backdrop to a 9.5% employement rate, ain’t much.
Obama wanted to hurry and get that speech over....maybe the Press will show up next week and tell him he’s got a S..t bill that looks like S...t, and ask BHO if he Read it, because CONGRESS HASN”T READ THE DAMN THING !
There is only one way this will end bump.
So far, I’ve been fortunate in this recession with my own small business. We provide services to businesses, and it’s stuff that folks really can’t go without. So, so far, so good.
But clients have put projects on the backburner, and it’s been tough to maintain billings at profitable levels. Every month’s a struggle.
The Porkulus hasn’t aided us one penny.
However, the alternative Republican idea of suspending payroll taxes for a year (would have cost roughly the same as Porkulus) would have helped my small business in two ways: First, by lowering my payroll costs and thus boosting my profitability cushion - by leaving a few more bucks in my pocket and that of my employees; and second, by leaving all my clients with a few extra bucks, so that they would not have had to trim spending on folks like me.
This would have really helped small businesses and really have helped the economy a lot.
Well BAC aka Disney needs to see their parks empty before they change.
We aren’t going bankrupt, but we’re closing our doors on Nov 30, 2009. It’s not worth the struggle any more.
Who is John Galt?
Correction.
ABC News is owned by Disney.
They will only change when their parks are empty and Disney merchandise stops selling.
Small businesses are being wiped out. Obama is a disaster.
Music to the ears of ABC, NBC, CBS, CNN, Hussein, etc etc etc.
You might very well be right; but I believe you are referencing the 52% that voted for the Democrat candidate.
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