The Wall Street Journal: Layaway, a payment practice that was made popular during the Great Depression but nearly became extinct due to the instant gratification of credit cards, is back in fashion thanks to the credit crunch. Only a handful of national retailers still let consumers put purchases aside until they have paid for them […]
Layaway Is Making A Comeback Read More »
USA TODAY: Financial insecurity is forcing Wal-Mart shoppers to change buying habits, cut credit card use and live more paycheck-to-paycheck, the CEO of the U.S. division of the world’s largest retailer said. Economic pain is leading to what Eduardo Castro-Wright termed “disturbing behaviors” among shoppers over the past few months. For instance, more families are
Wal-Mart Sees Shifts In Shoppers’ Habits Read More »
The Boston Globe: As stocks began their historic nosedive early this month, Tim McNamara and Tracey Manzi smelled opportunity. The husband-and-wife team of certified divorce financial analysts rolled out a new service to take advantage of the sputtering economy and its inevitable stress on marriages: a flat-rate option for divorce-related financial consulting and mediation. Since
Niche Companies Make Most Of Crisis Read More »
Rhonda Abrams At Gannett News Services: Listen to the news, and you’ll hear words that frighten every small businessperson. For the first time in my life, economists and analysts talk not just about recession, but use that most dreaded term “depression” and look to see how we pulled out of the Great Depression of the
Eleanor Roosevelt – Inspiration For These Economic Times Read More »
Entrepreneur: The U.S. Federal Reserve vowed to buy short-term debt in order to unlock the credit flow that business owners rely on for quick loans, but today it’s still not clear exactly when the relief will come or whether the move will indeed trickle down to the everyday entrepreneurs who need help the most. The
Fed’s Loans Could Help Entrepreneurs Read More »
CNET News: This latest market upset takes place at a very inconvenient time. (When is it not inconvenient?) It’s hard to know exactly, but most of these start-ups aren’t swimming in cash. Before it’s over, this may become a particularly hard transition for companies that depend on Internet advertising to pay the bills. Especially companies
Can ‘Freemium’ Model Weather Financial Storm? Read More »
USA TODAY: If there is a rock and a hard place in the U.S. economy, small businesses are there. Right in that little crevice where money is tight – and getting tighter. Right where weekly payrolls can be financed only by personal credit cards or home equity loans. And right where “income” for the boss
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smSmallBusiness.com: What do you do when sales are down and your credit’s been slashed? You rethink your business. Because of the ongoing credit crisis, banks are becoming even more reluctant to extend lines of credit to small-business owners. And the sluggish conditions aren’t expected to improve any time soon. That means business owners who rely
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The New York Times: Some small companies say they are no longer able to get loans from newly cautious banks as credit tightens across the country, and even those who do qualify are increasingly reluctant to borrow and expand, fearful of overextending themselves in the midst of the financial crisis. Alan Petrucci, whose small factory
Small Bizs Feeling the Chill Read More »
