Dyke Messinger, owner of Power Curbers of Salisbury, N.C., quoted in the Salisbury Post, “Local firms feel the squeeze: Power Curbers sending some workers home for two weeks as owner meets with Bush“:
Dyke Messinger is hoping the U.S. House of Representatives will pass the economic bailout package today. His business depends on it.
Messinger owns Power Curbers Inc., a manufacturer of curb and gutter machines in Salisbury. He, along with other members of the National Association of Manufacturers, went to Washington this week to try and sway members of Congress to pass the $700 billion package. Messinger’s U.S. customers are having difficulty getting loans to purchase equipment and aren’t placing orders. The manufacturers group met with President Bush on Thursday morning.
“We went to the White House to listen to the president and listen to his view on the economic stability package,” Messinger said. “He was also seeking information from us about how’s our business and how the credit crisis has affected us.”
Messinger told the president his situation at Power Curbers.
“We don’t have any U.S. sales because our customers don’t have financing to buy new equipment,” he told the Post. “Banks are very skittish right now, and they’re not loaning to each other. We’ve decided we have to lay off two-thirds of our work force starting next week because we don’t have any U.S. sales.”
Power Curbers will lay off about 40 workers for a two-week period. They will be able to go back to work after that. Messinger said all workers not part of the two-week layoff will have to take a few days and up to a week off.
Detroit News, “Small companies cry for aid“:
Peter Perez, a Grand Rapids maker of advanced band saws and laser alignment products, sat next to President George Bush in Washington, D.C., Thursday morning with a group of other small business owners and said he told him that the Wall Street crisis and the credit crunch are bringing too many firms “to something resembling a grinding halt.”
Business owners are pushing Congress to pass the latest version of a banking bailout bill to loosen the credit squeeze they say has left them scrambling for cash and unable to borrow money.
Perez said he heard another business owner tell Bush that his work is “essentially frozen” because his bank refuses to issue new loans.
“The flow of credit is now choked throughout the whole line,” said Perez, 60. He says his manufacturing business, Carter Products Corp. Inc, is on solid ground, but his ability to get paid by some customers is “troublesome” because many are in a cash crunch. “We need urgent, urgent action,” he said.
The Naperville (Il.) Sun, “Naperville executive meets with president.”
Latest posts by Carter Wood (see all)
- Farewell from a Blogger - May 25, 2011
- Activist Ignore Evidence to Back Shakedown Suit Against Chevron - May 25, 2011
- More than a Lawsuit: A Circle of Political Pressure Against Chevron - May 25, 2011