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Old 07-31-2008, 04:15 PM   #21
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We have a Bennigan's just up the street, it closed. It's right next to a Chi-Chi's that closed about 5 years ago and still vacant. There is a Red Lobster, Bravo, Smokey Bones, Chiipotles, McDonald's, Bob Evans, and Cleats. The Burger King that was somewhere there is now a Sheetz gas station. The Cleats used to be a Hooter's. Every time you drive down the street something is closing and "sometimes" something takes its place. I don't know how any of them stay in business, although on weekends you can't get in to any of them.

Barb
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Old 07-31-2008, 04:29 PM   #22
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Originally Posted by VeraBlue View Post
Yes, America is resillient and will recover, but handling it isn't the issue. Policies have to be implemented.
What type of policies are you thinking about?
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Old 07-31-2008, 04:32 PM   #23
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Supposedly Bennigans and Staek and Ale closed because of the parent company's exceptionally poor management. So I think suzie raises a good point.
I agree, suzie did make a good point.

One of the things that struck me was how this was handled. The employees had no idea this was coming. That has to be poor management too.
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Old 07-31-2008, 04:33 PM   #24
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I think that may be the good result of this, if there is a good result. In the end, the better and more worthwhile entertainments, be it restaurants, travel, motels, or other, will survive, and the mediocre and worse will die. That is the market system, and it always works if it is left alone.
That is probably true in the short term, but it will not be long before new mediocre businesses take their place.
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Old 07-31-2008, 05:47 PM   #25
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Its scary. I was laid off and am looking for work so I am being very cheap. goodby PETCO and your fancy pet food and products... I am not ordering take out or going out to dinner I am shopping on sale and trying not to drive much. I can see why restaurants are having a hard time as they are a luxury expense. Frankly I saw the lay off coming and had allready cut spending but a bit too late. The credit cards are retired and I wont be taking my shirts to the laundry anymore time to hone up on the ironing skills.

This cant be good for the economy. I know I am hardly alone on this. While I have not been a big consumer of luxury items I did spend freely in bars, coffee shops and restaurants as well as on high end food and on home improvement items. That is all cut.

I am not yet too worried about finding a job, my qualifications are pretty good, but even when I do start working again my spending is going to stay very conservative.

In the end I hope that we learn a lesson on the spend now pay later culture that has been growing.
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Old 07-31-2008, 06:01 PM   #26
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since i am on a fixed budget, the "recession" is really hitting me hard.

my grocery bill is up 50 dollars, even with much pruning.

don't go anywhere, cept family.

i am very attached to internet and will not give it up at this point. my son pays my rent, tv , heating etc. i pay my own phone and internet, newspaper and some months i still can't make it.

no new clothes for over a year.

had made a few cosmetic changes in the house last couple years. an outlet i think since i don't go to movies or plays or anything.

my friend's daughter sells books on e-bay and i get a pick before she posts
them.

i did not buy any plants for the yard at all this spring. have always done so in the past.

current sewing project is valance for new paint and floor in bathroom. making it from a table cover i made three years ago.

my handyman does not charge much for helping with paint, etc. reusing same color paint in more than one room.

food is also a creative outlet for me. doing less baking, supples are getting to expensive for more that the basics.

fruit is out out of sight in price, here in southern calif. go figure also a big part of my diet. had to cut down.

i am sure there are more way to cut expenses but haven't figured out.

babe
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Old 07-31-2008, 06:13 PM   #27
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since i am on a fixed budget, the "recession" is really hitting me hard.
Recession shouldn't even be in quotation marks anymore. We are in a recession. Sucks, but that's life.
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Old 07-31-2008, 10:32 PM   #28
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Yep, it's life.. the recession will end and the market will go back up, just as it always has.

The US economy has alot to do with Fannie Mae and Freddie Mac. (yep, I am learning alot working for an investment company lol). They dished out so many mortgages to people who couldn't afford them to help the failing housing market. Now, because they have such a massive effect on the market, the government has stepped in to help the company.

Alas, I'm not sure if that falls within the borders of political discussion, so I should stop while I'm ahead.. lol

I consider myself lucky to have found a job during this difficult time for many.

Ya know, ever since the tropical storm/hurricane that killed a bunch of oil rigs in the gulf of mexico, gas prices have never been the same. It seems that was a big trigger. (The same one that did in New Orleans I believe)
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Old 07-31-2008, 10:39 PM   #29
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Katrina.
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Old 07-31-2008, 11:03 PM   #30
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There is nothing uncharted about what is going on right now at all. What goes up must come down, it is all part of the cycle. I grew up in the 80's, nothing new going on now I didn't see going on then.. like 3 out of every 4 farms going under. Used to drive thru my county and for every farm house occupied there were three abandoned, the fields bought out by the one still surviving.
And anyone hear of the Great Depression? If they can make it out of that and come back... who are we to fold and give up? The pendulum will swing back, policies that were repealed by Bush and Reagan to pave the way for this will be re-implemented and up it will all go... until the next time it swings back down again....
Hope that wasn't too political either, LOL.
As for Bennigan's, they fell victim to poor management and did exactly what happens to poorly managed business' in a capitalist market. I never liked them anyway....
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