BIZ CONTEST: Share your credit-crunch stories -- and win!
10/02/2008 12:30 PM Tim Steller
Everyone says the credit-crunch is on, with businesses having a harder time getting loans, especially at the national level.
To find out more about what’s going on locally, I proudly announce the first Clocking In Biz Book Giveaway: The first local businessperson to share an “encounter with the credit crunch” story from the last few weeks will win their choice of two books:
• The Snowball: Warren Buffett and the Business of Life, by Alice Schroeder, or
• The Google Story: Inside the Hottest Business, Media and Technology Success of Our Time
The second person to share such a story can have the book that’s left. Everyone else who shares can have the pleasure of knowing they’re helping to educate Tucson’s public about the local economy.
You can either write your story here in comments, and we’ll contact you via email, or you can call or write Gabriela Rico at 573-4232 or grico@azstarnet.com
Well the crunch has actually made me delay in starting a business – I had been working on the list of to-dos to get started and I was on the path to the business license and business name registration when it hit. The busiess is low-key and not with a lot of start up costs but with the price of gas, and the credit issues I will have to sit down and totally remake my business plan and see if the increases in costs make it viable. People have a limit in what they will pay for services and we may have to look overall at what we were going to offer and either delay or scale back.
'Clocking In' is the joint blog of the Star’s Business news staff. We're punching out news tips, outtakes and other morsels for people with an appetite for local business, consumer and workplace news. Have some news of your own to share? Be sure to drop us a line using one of the e-mail addresses below.
Well the crunch has actually made me delay in starting a business – I had been working on the list of to-dos to get started and I was on the path to the business license and business name registration when it hit. The busiess is low-key and not with a lot of start up costs but with the price of gas, and the credit issues I will have to sit down and totally remake my business plan and see if the increases in costs make it viable. People have a limit in what they will pay for services and we may have to look overall at what we were going to offer and either delay or scale back.
— Ann Irwin 10/02/2008 02:20 PM #
Wait, NOW there’s a credit crunch?
So when I offered my first born to get a student loan for college, that wasn’t necessary?
— WanderingMex 10/02/2008 02:41 PM #
After looking at some newer homes which are REO’s, we decided to try the market.
We aggressively priced our home, etc.
However now that 30 yr mortgage rates are 7% now. So rates are continuing to go UP.
We have 20% down, good credit scores, Income – self employed even.
I don’t believe that
1. we will get enough for our home.
2. get enough of a discount for the REO
probably will pull it from market and stay put.
Of course if we got a SCREAMING DEAL we would buy before selling and pay CASH – oops 4 letter word, sorry!!!
— fred f 10/02/2008 05:17 PM #