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Recession Spells End for Many Family Businesses
wsj.com ^ | 10/6/09 | DANA MATTIOLI

Posted on 10/06/2009 2:37:42 PM PDT by Kartographer

Siblings Georgia, Jimmy and John Roussos have spent most of their lives working in the kitchen of the restaurant their father opened in 1954. The eatery managed to survive a hurricane and other setbacks, but it wasn't until this August that the recession took its toll, forcing Roussos Restaurant in Daphne, Ala., to permanently shut its doors.

After months of slow sales, family businesses are being forced to close, ending legacies and leaving behind a wake of sad customers and loyal employees. "Some family businesses that were just hanging on have said it's time to get out," says Dann Van Der Vliet, director of the Vermont Family Business Initiative at the University of Vermont.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: bhoeconomy; smallbusiness; thecomingdepression; thecommingdepression; theend
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OBAMAVILLE

Gett’n a head fake, watchin’ msn’s take; All of their pundits oozing foul oil. Clean’n my six gun on my front porch swing. Felling my blood— It’s beginnin’ to boil.

Wasted away again in Obamaville, Searchin’ for a job so I can earn my salt. Some people claim that Bush is to blame, But I know it’s Obama’s fault.

There’s no rhyme or reason, They are all commitin’ treason With nothing to show but a brand new tax or two. But they are real beauties, Despotic duties, how they got passed I haven’t a clue.

Wasted away again in Obamaville, Searchin’ for a job so I can earn my salt. Some people claim that it’s Bush we should blame, Now I think,— hell with them it’s Obama’s fault.

I blew out my flip flop, Stepped on a pop top; Cut my heel, but I just cruise on back home. Because no medical care will the doctors render They say there’s little service I can tender And there’s no need for me to hang on.

Wasted away again in Obamaville Searchin’ for a job so I can earn my salt. Some people claim that Bush is to blame, But I know, it’s my own damn fault. Yes, and some people claim that Bush is to blame, And I know because of my vote it’s my own damn fault.

1 posted on 10/06/2009 2:37:43 PM PDT by Kartographer
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To: Kartographer

carpet store across from my office....opened it’s doors in 1936, the GOB sale is now in progress


2 posted on 10/06/2009 2:44:17 PM PDT by Buckeye McFrog
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To: Kartographer
Well maybe if someone would post a listing of pro-conservative businesses, we freepers could make it a point to shop appropriately conservative friendly sources for goods and services.

Maybe a conservative friendly version of Angie`s List? Any sources or leads can be posted here and we`ll help spread the word.

3 posted on 10/06/2009 2:45:31 PM PDT by nomad
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To: Kartographer

If it is the same Russo’s that used to operate in downtown Mobile, they used to have some awesome blackened redfish.


4 posted on 10/06/2009 2:47:33 PM PDT by RatRipper (I'll ride a turtle to work every day before I buy anything from Government Motors.)
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To: nomad

“Well maybe if someone would post a listing of pro-conservative businesses, we freepers could make it a point to shop appropriately conservative friendly sources for goods and services. Maybe a conservative friendly version of Angie`s List? Any sources or leads can be posted here and we`ll help spread the word.”

I tried to float that idea a while back, but got nothing...


5 posted on 10/06/2009 2:47:41 PM PDT by jessduntno (Tell Obama to STFU - Stop The Federal Usurpation.)
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To: jessduntno
Well if you keep asking I`ll pitch in as well,its a logical idea to support our own,why not? Lets keep the idea alive,I`ll post the idea on the Glenn Beck 9/12 site I`m a member of and if you`re a blogger elsewhere take it there.
6 posted on 10/06/2009 2:53:07 PM PDT by nomad
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To: Kartographer

And the ones that are still scraping by, will have the last of the wind taken out of their sails by Obama’s Capn’trade scam.


7 posted on 10/06/2009 2:59:04 PM PDT by Nathan Zachary (rong east)
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To: Kartographer

My youngest son is a painting contractor. He has very little overhead and operates very lean. He is thriving as most of the larger contractors are folding up or cutting back.


8 posted on 10/06/2009 3:01:13 PM PDT by umgud (Look to gov't to solve your everday problems and they'll control your everday life.)
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To: umgud

“My youngest son is a painting contractor. He has very little overhead and operates very lean. He is thriving as most of the larger contractors are folding up or cutting back.”

good for him...but, tell him to keep his operation lean and an eye on the competition, because all those guys getting laid off will soon be his competitors...take it from a small businessman who is going lean, cutting staff and watching an explosion of small competitors...it will happen to us all..then the deflation spirals from an overheated competitive market will shred our working capital and we get slapped with the coming inflation...don’t get caught with any stock or excess baggage...


9 posted on 10/06/2009 3:05:39 PM PDT by jessduntno (Tell Obama to STFU - Stop The Federal Usurpation.)
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To: umgud
I have been saying that good painters and wall paper removers/installers are hard to come by.

We had to go to a paint store to pick up some names.

sw

10 posted on 10/06/2009 3:07:28 PM PDT by spectre (Spectre's wife)
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To: jessduntno

Good points. You’re right, all the laid off painters are now competing with him, but he is stable and knows how to stay lean. He has no debt.


11 posted on 10/06/2009 3:10:06 PM PDT by umgud (Look to gov't to solve your everday problems and they'll control your everday life.)
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To: spectre

My son mostly does high-end repaints and most of his work is thru word of mouth.


12 posted on 10/06/2009 3:11:14 PM PDT by umgud (Look to gov't to solve your everday problems and they'll control your everday life.)
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To: Kartographer
Several restaurants owned by locals have closed their doors for good. I have seen established businesses that are between 25-50 years old going in the red. Business is way off...nobody is spending money frivolously and being very careful.
13 posted on 10/06/2009 3:27:33 PM PDT by vetvetdoug (FUBO, a fashion statement for conservatives.)
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To: vetvetdoug

“Several restaurants owned by locals have closed their doors for good. I have seen established businesses that are between 25-50 years old going in the red. Business is way off...nobody is spending money frivolously and being very careful.”

I guarantee the folks who make the restaurant supplies, freezers, ranges, etc. are dying, too...


14 posted on 10/06/2009 4:00:13 PM PDT by jessduntno (Tell Obama to STFU - Stop The Federal Usurpation.)
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To: Buckeye McFrog

Even the major chains are in trouble. In one of our neighborhoods, the Panera closed in the spring...now word has come that Barnes & Noble which was next door is closing the end of the year.

In my neighborhood, there was this family owned bakery...had been around for generations. A pretty decent employer too — it hired African-Americans long before most others did. Used to have about a dozen stores around the region and sold some of its baked goods in local supermarkets. Then last year, it was gone. I really miss the bakery.

Ah...but the recession is over, doncha know?


15 posted on 10/06/2009 4:01:39 PM PDT by fatnotlazy
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To: nomad

The problem with that is one can lose the customers who have other political views.


16 posted on 10/06/2009 4:09:19 PM PDT by fanfan (Why did they bury Barry's past?)
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To: Kartographer

Wasn’t this part of the 0 solution? Central control of the economy means controlling production and controlling consumers. Small businesses are anathema to the NeoCom Bolsheviks. Seriously, the post American Socialist can’t have free agents competing in their controlled economy.


17 posted on 10/06/2009 4:29:02 PM PDT by pallis
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To: fanfan

Do the liberals have such a list?


18 posted on 10/06/2009 5:03:54 PM PDT by nomad
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To: nomad

Yes.

Almost every big business out there.

They are big because they don’t care about customer service.


19 posted on 10/06/2009 5:16:43 PM PDT by fanfan (Why did they bury Barry's past?)
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To: fanfan

Where do I find it so I can boycott any on there?We`re hunkering down and spending very carefully,so what little we do spend should not be given to liberal companies or sympathizers.


20 posted on 10/06/2009 5:29:16 PM PDT by nomad
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