30 billion to small businesses

hotboat wrote: Happen again? Thats optimistic! We better at least work on the fix at the same time.

agree. it is optimistic, we need this *************** fixed and fast!

i'm more interested in how we got to this point in the first place to make sure it doesn't happen again. cause yeah, this sucks for just about everyone.

hotboat wrote: We build injection molds and had a very strong year last year and built what I have been told is the cleanest "clean room facility" in Pa.

Brian,

Used to do quite a bit of "Clean Room" work, in Olyphant, PA did several projects for Specialty records, 1st CD mastering facilty in the US amongst them. What class is your room?

hotboat wrote: A big part of our work is medical. A customer owes us over a million dollars from last year still....hope to survive

Have (2) clients that both owe us over $100k each + a laundry list of over $30k's not to mention Liens out the azz and recently filed a foreclosure lawsuit on a property.

Pete, i need a tooth pulled and i am holding off for the lack of dental, im gonna go see the Moomba/Boston whaler (remember the wood i refinished?) dentist and take a benny with me. and just say pull it, i dont eat anymore anyways lol

All employees here got anywhere from a 20% to a 50%!!! pay cut when things started going south more than a year ago. Layoffs to the tune of about 60 to 70%. Bouncing paychecks for the last 5 months. Delays in getting pay checks. Salaried like myself have been waiting for over 2 weeks now for checks. Hourly got theirs this week from last week (after a little "sit down") but were told there may not be funds in the bank!! Company's mortgaged/loaned to the max. Owners (a father/son team) live and drive the high end life and am sure they haven't put 1 cent back in! It sure is a different tune employer wise compared to people like Alan and Greg. Company credit cards maxed out. Hard to find a supplier that isn't pissed at us from past dues. Family medical without dental is $220 for me. Medical was canceled in November and December for lack of payment but moneys still deducted from our checks. Got coverage back but feel it was only because our owner (father) himself had to go into the hospital!! Who was it that sang and what's the song with the lyrics that go something like: "I've got to get out of here" or "I've got to get out of this place"!!! Problem is.....

Any recommedations for a 401k? Just about back to where it was a few years ago still have it all in the "risky" stuff. I am 35.

Actually Alan, they should buy you lunch for doing everything you can to keep them a job! It sounds like we are all down the same path. (except my walls are still intact) I have cut my pay to a fraction of what it was (below what my employees make), used up savings, etc, etc to keep the company & the employees I have left. They haven't been affected at all yet.

Im with you Eric...looking back. Overall, the business has been good to us... knew we were never going to get rich...just want to make a comfortable living.

We started in late 86...just Pam and I. Worked by ourselves until 6 years ago. We decided to hire an employee....til that point we had only one vacation in almost 18 years.... a whopping one week.

After hiring him, we were able to take a few extra trips....Green Lake was one.. ... The first couple of years with him were tough as he learned the business....at first we didnt make any more money with him. BUT at least we could get a few days away now and then.

Like I said...3 years ago was the best year ever. Had things going good...only thing we owed for was the business. Had the biggest savings account we ever had...etc , etc.

THEN.. about 2 years ago, sales started to slide. December of 08 was when it really started here. (wasnt that election time? hmmmm.) We went month by month...watching...wondering.. thinking... "Its gotta turn around...doesnt it?"

Sad thing was our employee was taking home a full paycheck...Pam and I were literally taking nothing home... But, hey, thats ok...its gotta turn around,right? We wanted to keep him... he was our ticket to get a few days off now and then.

Well, after a going thru the best savings account we ever had, and a couple of months of borrowing money to make his payroll. Reality hit... we cant continue doing this. In June last year we had to cut his hours....
Luckily(I think) he did get another job..(hey, that means we only need to find 3,499,999 more "mystery" jobs..)

Soooo, here we are...just Pam and I again...no savings..our retirement in the dump... looking at starting all over...


Again, I dont want any handouts...( my dad, bless his sole, would whip my azz)... no low interest loans, no bailouts.. I just want to run a business and make an honest living.. I get TIRED of listening to all the sugar coated - empty promises the clueless G-men thro around...   

   Dont take me wrong.. Im not complaining.... but facts are facts... Reality is, SOMETHING needs to change. ....and it could start by the politicians getting there head out of their @$$ ...

Heeeyyyy, heres a novel idea...maybe we could start by trying to get manufacturing back here. (thats another topic starter tho)..

sorry for the rant...

.

I am pretty much SICK of most politicians...they are so far out of touch with reality. What a bunch of BS slinging asses.   
.... We havent had a claim in 30 years...still paying over 400 a month, with $4,000 deductable.

   Im in the same boat as a lot of small businesses.. (no pun intended)..."Survival mode" ...just trying to keep from going any deeper in debt. Last year was the worst year we've EVER had, including our start up year in 1987. Ironic that only three years ago, we had our best year ever.   To compound matters, Like Alan, my wife and I work together. There is NO other income from a spouse to help.

I dont want/or expect handouts. We dont need to borrow money...we need more customers.. People are afraid to spend money. (Cant blame them, so am I)


   Then theres the "Smoke and mirrors" 3.5 million jobs saved or created... Does anyone know WHERE all these are? We are still loosing jobs in our area.

Will "the powers to be" EVER get it?



   

81nautique wrote: And I did the same thing when I got frustrated at work here a few years ago and put my fist through a wall, broke my hand

   I hate it when that happens I can't see you doing that Alan

   The last thing I need right now is a loan to repay. What do they expect you to do with the money? Run out and buy yourself some customers? That seems to be the govt's solution to everything lately....loan, spend.....loan, spend. I only have one employee and I feel fortunate that he doesn't even want health insurance. I have been thinking of ways to grow my business lately, and everytime I run the numbers it makes more sense to keep doing what I'm doing w/ what I have & staying small.

    Mike

Alan, I'll take a few jobs as well. I aready have the loan I am trying to pay back now. I sure can't hire any new employees to work on jobs I don't have!

Obama's message of the day was a proposal highlighted in his State of the Union address last week: funneling $30 billion to local banks so they can lend small businesses money they need to grow their enterprises and create jobs.

"Jobs will be our No. 1 focus in 2010," he told the estimated 1,600 people in attendance in opening remarks, before taking a handful of questions. "And we're going to start where most new jobs do — with small businesses. These are companies that begin in basements and garages when an entrepreneur takes a chance on his dream, or a worker decides it's time she became her own boss."

The idea is to bolster banks' balance sheets and enable them to make more loans to small businesses, who can use the money to expand, hire or make other investments.

Greg(skicat) Would you rather have a loan of $100,000 or a few good contracts? Man they don't get it. They make money available for what? Hiring employees we don't need...Buying equipment we have no use for? These guys need to stop campaigning and get a clue. All those that want to pledge everything they own to another fng bank say Aye! Not me.

Skicat..$1100 /month is tough pill to swallow. We've moved ourselves to a lesser plan with higher deductibles every year just to try to keep the premiums acceptable.   I had to give up the 100% for my employees a few years ago, we now only cover 50% and the rest of the family is their responsibility. I'm not proud to say it but I have a few people here only making $11-12 an hour, how are they supposed to afford health insurance for their family they can hardly put food on the table. It's disgusting and there's nothing I can do for them.

Our business is in an industrial condo complex and I talk to my neighbors all the time, out of the 11 businesses in my building 7 lost money last year. Not just clever tax evading loses, real hanging by a thread loses. The only reason I'm not one of them is because I'm down from 12 employees to seven.

Now on a good note I heard from an insider yesterday that Correct craft was back up to 5 boats a day or 50% capacity and has brought back some employees. I really think we need spring to get here right now for many of us. Hang in there guys.

i was just looking to get a paycheck out of the deal, mark my words, the market will soon crash again

A link to this post needs to be sent to the WH.
But then they would say that this group is just the minority and they know better.