USVI-On-Line

we are losing the sporting goods store that has been in town for 20 years--(the only place for miles where you can get your skates sharpened or your racket strung) rumors are that 4 other small stores are closing as well--we live in an area that has been really hard hit by the wall street/banking idiocy, but i honestly didn't think it would result in so many closings in our (very) small village.

what is happening where you live?

...

Pretty much every "big" empoyeer in our area has already or has announced lay-offs. All of the upscale developments have 1/2 of the houses for sale. No one can afford them any more. It's scarey to say the least

XOXO
Bug

So far, there hasn't been a noticable change in our regional downtown businesses, which were never exactly bustling to begin with.

The housing industry (building products, lumber, cabinets, millwork) is sort of wacky. Some plants are barely operating, some are very busy.

I have seen some established small businesses laying off. One in particular had to let go more than 10 employees, all had more than 25 years (one had 35 years) with the business. That is tough to see.

In the "Heart of Illinois', our major employer, CATERPILLAR, had had major lay-offs and that is not trickling down to their suppliers, small stores, etc.... certainly a scary time!

whoops....... meant is NOW trickling down!

Spectrum Brands (maker of Rayovac Batteries) and my previous employer years ago has filed for bankruptcy. However, at the same time, I was asked to come back and be a Real Estate Appraiser by my old boss - lots of refinancing going on.

We are in the center of State Government and we have the University of Wisconsin and lots of insurance companies. So far, things aren't too bad.

My auto shop was very quiet today. People are putting off routine maintenance.

A friend mentioned that a house in his neighborhood was foreclosed this week: $2M house, new Mercedes and a new Cadillac in the driveway, all the belongings on the front lawn. Weird.

Cheers, RickG

So far only one store-Goody's Clothing-is bankrupt, but it happens that my grandaughter works there. Our store is only 2 yrs old and was doing well, but it is part of a chain that went under.

Grandaughter is a college student on a 2 yr scholarship and the good news is perhaps her scholarship will be extended to 4 yrs. She has experience at a local restaurant and they want her back so I don't think she will have a problem finding work.

Sales of existing homes in this area are still doing well, but prices are low here and have stayed flat.

DELETED

My daughter works at our local hardware store and they have cut her down to 2 days a week. She says it will probably go out of business. Most other businesses in our small town seem to be OK.
I have seen going out of business sales at some of the larger stores in the larger towns around. No homes are selling.
We are busier than ever at work because we serve the lower income people. But we can't hire or get help so we just work harder. But I have a job at least.

RickG wrote:A friend mentioned that a house in his neighborhood was foreclosed this week: $2M house, new Mercedes and a new Cadillac in the driveway, all the belongings on the front lawn. Weird.

Cheers, RickG

Somehow I don't think I'd be buying two new pricey cars if I wasn't able to make my mortgage payment.

My husband got laid off last month. Fortunately he had advanced warning and found a new job in time.

I'm seeing it in the North Atlanta suburbs.

Home construction has dropped to a trickle after a decade of unbridled growth.

My corner restaurant is usually dead and I wonder how long the well heeled owners will stick with it.

I'm hanging in there and pocketing everything I earn.

We have a small family owned general store down the hill from us. I believe it is the longest running independent general store in our county. They survived the depression, but between people not paying them, and the suppliers demanding C.O.D. rather then net 30 days as in the past, it will be a miracle if they survive the year. It's like watching a slow death.

Concrete mix company just layed off 40% of workers. Seagate layed off many, IBM layed off a "quiet few", Douglas County school district (3rd largest)is possibly going to a 4 day work/education week. City municipalities are dealing with multiple lay offs and budget cuts. It's a mess.

But hey! Our school district passed a mill levy and a bond and are hiring as many teachers and administrators as they can get their hands on. Plus we're building more schools and man you would think that we won the jackpot. Folks are getting 20% or more raises and we live in a glass globe.

Oh, did I forget to mention that my house taxes and the many rentals that we own just went up? Darn, forgot that part.