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Keyword: thecommingdepression

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  • Recession Spells End for Many Family Businesses

    10/06/2009 2:37:42 PM PDT · by Kartographer · 22 replies · 1,016+ views
    wsj.com ^ | 10/6/09 | DANA MATTIOLI
    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...