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.
An estimated 90% of U.S. businesses are family-owned or controlled, from traditional small businesses to a third of Fortune 500 firms, according to the Small Business Administration.
LINK HERE
SEE SLIDESHOW OF CLOSING BUSINESSES:
SLIDESHOW HERE
No business?
ReplyDeleteNo worry
Print money
Be merry
"Thousands of Family Businesses Closing".. Who cares as long as Alcoa kicked off the earnings season on a positive note, reporting third-quarter earnings that beat analyst expectations on both the top and bottom line. This is Alcoa’s first quarterly profit in three quarters. There is no collapse, and me the resident idiot Troll is proving to be right each day.
ReplyDelete5:29 I am just that and indeed I am F*#$@ Jesus too and soon......
ReplyDelete“It’s all about earnings,” Mark Bronzo, a money manager at Security Global Investors, which oversees $21 billion in Irvington, New York, told Bloomberg Radio. “Financials not only are expected to come out with better numbers, but they may also surprise investors. The upgrades for banks this week are indicating that. And investors are anticipating more positive news.”
No collapse happening
540 Collapse coming between now and december, want to bet on that? Gold and Silver Skyrocketing everyday, dollar dropping, saber rattling as iran, countries want to detach from the dollar, unemployment and foreclosures skyrocketing, california and new york collapsing, no good news at all, real estate falling and major banking crisis and more foreclosures coming, dollar to fall much more, collapse is eminent.
ReplyDeleteAnonymous 5:23, Alcoa's earnings was not really impressive and I do not know why you are so happy. Earnings yoy is down 33% and their so-called profit is based on cost cutting and not on growth. Alcoa is not impressive and you are not right. THe massive liquidity in the equities market will fizzle by spring time and quantitative easing will commence.
ReplyDelete5:45 you bet I want to bet on that...You say Between now and December. I say between that period we will see the current recovery consolidate, rising profits and falling unemployment.
ReplyDeleteNo body was courageous enough to give a time line as all those who attempted were proven wrong and fizzled.
Anonymous 5:40, According to Christopher Whalen, of International Risk Analytics, fourth quarter earnings for banks will be a blood bath. Banks(government pimps) are happy to use market-to-model accounting(sham accounting) to make their numbers look good instead of taking losses. Financials look good when the government allows financial companies to use mark-to-fantasy accounting.
ReplyDeleteIts just the resident retard posting his drivel..Retard Inc.
ReplyDeleteAnonymous 5:45, what current recovery are you talking about? I do not see evidence of current recovery? What recovery? Profits are moving up a little because of cost cutting and not on company growth. Falling unemployment? You must be joking. The Department of Labor finally admitted that their job creation calculations are flawed which is no surprise with the way they were calculating birth/death model numbers.
ReplyDelete3.2 MILLION FuKiNg Americans lost their job JUST since this mutha-FuKR took office... Yeah, that's what i call a nice recovery.... Change......Mutha-FuKR is changing this country into a cesspool..... jan 2013 can't come soon enough...
ReplyDeleteIf the birth/death ratio is removed, U-6 is in reality 21.3% total US unemployment. The estimate is that 824,000, more jobs may be extracted from the payroll count for the 12-months ended next March. Such a revision would be the biggest since 1991. The BLS is underestimating job losses deliberately and has been for a long time. That would mean September’s loss would be some 300,000 not 263,000.
ReplyDeleteYear/year earnings are easily ignored by trolls and others who really don't know diddly but just post here because they enjoy being professional shit disturbers with anti-social personalities.
ReplyDeleteNo point fighting, dudes.
ReplyDeleteKeywords are ACTION, ACTION, ACTION, PRINT MONEY, PRINT MONEY, PRINT MONEY!
Everybody, print money [need not be exact replicate].