Local Business's Dieing

[MountainDon]

I suppose today is just another 'typical' day in our present day troubled financial times.

Elsewhere I noted Circuit City pulling the plug. Locally a hundred or so jobs will disappear, nationally 30 to 34 thousand.

Locally (Albuquerque, NM), Advent Solar, a manufacturer of solar panels has laid off more of its work force (after other layoffs in September). They have been unable to obtain financing needed to make changes to their production facilities here.

Several weeks back Eclipse Aviation, laid off virtually everyone. Eclipse had developed a lower cost twin engine jet, suitable for small corporate or commuter air use. They've actually sold some aircraft. They've had financial problems for the past couple years. Nobody even wanted to purchase the assets of the company. More dreams, more jobs gone.

[peternap]

Same here Don!
Circuit City is headquartered here so it's really hitting home.

This coule mean the rebirth of the small business. That could be a good thing. The government needs to stay out of it.

[MountainDon]

This could mean the rebirth of the small business.

Perhaps.    According to one of the local weekend financial radio shows the local ABQ market has 60-some small businesses listed for sale at present. Those are the ones actually listed... there are two I know of that have just given up. (ABQ itself about 525K population, with an area population of about 800K). In most cases it's because of cash flow problems. Most of these will probably not sell and will simply quietly disappear.

[NM_Shooter]

I suspect that cash will be king soon.  I had a little frustration today.  I found a boat in the paper that looked promising.  It was clean and had been garaged (mostly), but had a few small things wrong with it that I could find without tearing into it.  NADA said $3600, he was asking $5k, I offered $4k and was declined.  He said he turned down a $4.5k offer earlier.  I told him he should have taken that. 

Think I'll wait for the economy to sour a little more.

-f-

[peternap]

I suspect that cash will be king soon.  I had a little frustration today.  I found a boat in the paper that looked promising.  It was clean and had been garaged (mostly), but had a few small things wrong with it that I could find without tearing into it.  NADA said $3600, he was asking $5k, I offered $4k and was declined.  He said he turned down a $4.5k offer earlier.  I told him he should have taken that. 

Think I'll wait for the economy to sour a little more.

-f-

Been finding the same thing shooter. The only real deals that ate coming around are people that are desperate. I always feel bad about taking those deals.....but I usually do.

Like you saaid, wait them out. Things aren't getting any better in the near future,