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A Bailout For The Rest Of Us


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Tough economic times call for tough business leaders, large and small, to make the tough decisions that will allow their businesses to prosper. Those tough decisions do not include running to the government pleading for a handout. As the owner of three small businesses, engineering, manufacturing, and oil & gas production, I will submit these are indeed difficult economic times. My businesses are not immune to adversity, but they have proven to be resilient. Business owners must understand, when business is down you must be innovative, creative, and daring. We must draw on our experience and develop new ideas, new technologies, and new products, and provide additional services for our customers and for the market place if we are to survive and prosper. We cannot blame our competition for unfair trade practices, we must challenge them and provide superior products at a competitive price. This is the time for entrepreneurs to re-invent their businesses, to be bold with a re-kindled can-do spirit that allowed for us to go into business in the first place. To accept government bailouts is to permit the government to tell you how to run your businesses, and that my friends is a sure recipe for failure. No thank you Mr. President, I will not only save my businesses, I will grow them with boldness, ingenuity, and determination. I will do it as I always have, on my own dime.

    Reply    Favorite    Flag as abusive Posted 01:34 AM on 07/11/2009
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its too late for my very small business, but I hope it helps others and gets this messed up economy back on track. GObama.

    Reply    Favorite    Flag as abusive Posted 12:36 AM on 07/11/2009
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Why not just issue convert the $US to the Chinese Yuan and be done with it. Another stimulus package, what a joke.

    Reply    Favorite    Flag as abusive Posted 11:53 PM on 07/10/2009

OH please - first this article says these are "early" discussions. Don't hold your breath. But frankly, that would be better than subjecting a flotilla of small businesses to the ineptitude of the SBA 7(a) program. Their loans might be ready by 2013. And a 90% guarantee - it is already 85%!!! If banks aren't lending based that, do you think upping it 5% will make a difference???? The problem for small business, especially truly small ones, like 1 - 20 employees (SBA's definition of "small business" is up to 500 employees in manufacturing, $7mil in receipts other industries) is that they have LACK OF COLLATERAL and/or damaged credit reports from the LOCs that have been reduced on their small biz cards, killing their utilization. The whole credit system was not set up for our present freefall, and the SBA is not set up to aid MODERN businesses, in which intellectual property propels innovation. The SBA was built for a manufacturing economy, which we are not. Any program administered through SBA will FAIL in creating the kinds of jobs Americans need, unless we are to become a nation of serfs working at sub shops. Because a franchise run by a non-college graduate has fifteen times a better chance at getting a SBA loan than a software company. Look into it. The problem isn't government guarantee, its lack of collateral, and banks don't take IP as collateral. Google, any biotech, the list goes on could NEVER have gotten an SBA loan.

    Reply    Favorite    Flag as abusive Posted 09:43 PM on 07/10/2009

Obama supporter says: How about a bailout for us salaried workers who work at big companies? Or better yet, how about some bailout money for unemployed workers who use to work at big companies? Where does it end? Oh, and let's cap the income of all the small business owners, and take away all their bogus tax dedcutions. You know, the company cars for every member of the family and the compamy boat and the vice presidency for your daughter who lives 1000 miles away.

    Reply    Favorite    Flag as abusive Posted 09:35 PM on 07/10/2009
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