HeraldNet - Snohomish County's online news source
Heraldnet.com
SUNDAY, DECEMBER 6, 2009 12:04 am
LocalNorthwestNation & WorldPoliticsSpecial ReportsPhotosColumnistsMultimedia 
RECENT POSTS:
• eBay and Amazon can't pay your bills  December 4

• Congress zeros in on small business  December 4

• Video: Obama on job creation  December 3

• Disaster assistance available for small businesses   December 3

• Obama jobs summit kicks off  December 3
Archives:
LINKS:

About us
• About The Storefront
Franchises
• Franchise registration
 • International Franchise Association
Recommended Reading
• Duct Tape Marketing
 • Small Business Trends
 • Washington Small Business Development Centers
Resources
• Development Centers
 • Economic Development Council
 • IRS barter tax tips
 • Labor and Industries
 • Seattle Score
 • Small Business Administration
 • Women’s Business Centers
 • Workforce Explorer

Startups
• IRS tips for starting a business
 • Small business planner
 • Tips for Washington state
Twitter Updates
    RELATED ARTICLES:
    • A store credit card can save you cash, but is it worth it?  December 6
    • Technology notebook  December 6
    • Zhu Zhu Pets aren’t safe, consumer group says  December 6
    • Oil prices ‘perfect,’ Saudi oil minister says  December 6
    • Manufacturing leads in jobs comeback  December 6
    • Bell-Boeing Osprey chopper makes Afghan combat debut  December 6
    • If you’re too sick to fly, you may have to pay  December 6
    • Campaign stresses privacy on Internet  December 6
    • What if robots go haywire?  December 6
    • FDIC may force banks to offer services for the poor  December 6
     

    ADVERTISEMENT
    The Storefront
    November 10, 2009

     
     

    Lockhart: Recovery isn't likely to come from small businesses


    Posted at 1:45 pm

    The nation's recovery from recession will be slow and marked with high unemployment rates, Federal Reserve officials said Tuesday.

    The presidents of the regional federal banks in San Francisco and Atlanta warned that jobs won't likely rebound for several years, and said small businesses probably won't play the stimulus role they have in the past.

    Dennis Lockhart, president of the Federal Reserve Bank in Atlanta, said a “very slow net job gains” may occur “sometime next year," according to the Associated Press.

    The AP reports: Small businesses — which held up reasonably well in the 2001 recession — have been clobbered by the downturn, accounting for about 45 percent of net job losses through the end of 2008. During the last two economic recoveries, small businesses contributed about one-third of net job growth. Lockhart said he doubted that would be the case this time.

    Many small businesses rely on community banks for credit, such as Everett's Frontier and Cascade banks. But those types of banks are drowning in commercial real estate loans -- an area largely in default -- meaning credit is hard to come by.

    Lockhart said he is “particularly concerned” about that linkage, according to the AP.
    READER COMMENTS
    Be the first to comment.
    You must be a registered user and verify your e-mail address to post comments to blogs or articles on HeraldNet.

    To register, click here. To read other terms and conditions, click here.
    Log in or register to post new comment | Log out
      Return to The Storefront
    View All Coupons

    Nutcracker
    Family Packs Available
    Pacific Northwest Ballet

    Lube, Oil & Filter
    Buy 1 - Get 1 FREE
    American Car Care Center

    $95 Dryer Vent Cleaning!
    $99 Whole House Duct Cleaning Special!
    Air Ductors

    75% OFF
    Many Items. Hurry!
    Eagle Furniture

    Buy 1 Get 1 FREE
    Lube Oil Filter
    American Car Care Center

    Always Free
    Transmission Diagnostic
    Danas Transmission

    Holiday Getaway
    $99 dbl Occupancy
    Manresa Castle

    Oil - Snohomish County
    Low Prices - Fill Now!
    American Distributing

    20% Off Dinner
    Up to $75 Value!
    Sockeye's Restaurant

    FREE 6 lb. Pad w/
    30yd Carpet Purchase
    Completely Floored

    Buy 1 Dinner Entree
    Get 2nd 50% Off
    Changs Mongolian Grill

    Holiday Specials
    up to 25% off!
    Wild Birds Unlimited

    $5 Off
    Stylecut
    Third Dimension Salon

    We've Got You Covered for hte Holidays!
    20% OFF Re-Upholstery or Custom Furniture!
    Flick's Upholstery

    25% off Bath & Groom
    New Customers
    Smokey Point Grooming

    Special Rebate Offers!
    Plus Get Additional 30% OFF!
    Budget Blinds

    $2 OFF
    at Box Office
    Everett Silvertips

    15% Off
    All Repairs!
    AAMCO Trasmissions

    Over 1 Million Lights
    Lights of Christmas
    Warm Beach Camp

    $2.99 Chili Dog
    $3.99 Fish Burger
    50th Street Burger
    TODAY'S TOP JOBS
     View All Top Jobs 
    Top Cars
    >> view all top cars
    >> view all cars
    Top Homes
    >> view all top homes
    >> view all homes

    ADVERTISEMENT
    |Contact Us |Advertiser Services |Home Delivery |Newsstand Locations |Classifieds |Feedback |About the Company |Work@the Herald |Site Map
    © 2009 The Daily Herald Co., Everett, WA.