Small business owners react to Obama Health Care Bill

July 17, 2009

Small business owners employee about 80% of the population!
Send in your story! via: http://bit.ly/3x5Ygy

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I am a restaurant owner, and I have had this restaurant for over 16 year. I have over 10 employees currently, some part-time, and some full time. It is not I don’t want to provide health care for my employee, I just can not afford. Obama’s health care plan will put me out of business. My business just does not have extra money pay for employees health care. With the minimum wage increase to $7.25, my business is going to under a lot of pressure. I really don’t know what else to do, I already work over 70 hour a week try to save some labor cost. I just want to Obama give our small business break. All small business owner work really hard to try to stay in business. I know a lot of small business owner don’t even have insurance for themselves.National health plan will kill business.

— Shirley

Read more & send in your story! via: http://bit.ly/3x5Ygy

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Starting up in an economic downturn

June 3, 2009

Thinking about starting a business or buying a business but you’re unsure of these “economic” times? Just look at the other Arkansas start ups that were born out of hard times in this article by David J. Sanders:

Starting up in an economic downturn

Only the strong survive economic downturns like the one we’re in now. And sometimes, seemingly clairvoyant individuals – entrepreneurial, inventive and resourceful – demonstrate vision and know-how by starting up enterprises that succeed during difficult times.

While many companies file for bankruptcy or vanish altogether during recessions, others can trace their beginnings back to depressed economic periods. At least six Arkansas-based companies fit that criterion:

  • Murphy Oil
  • Deltic Timber
  • Baldor Electric
  • Tyson Foods
  • Dillard’s
  • Wal-Mart

The one-time start-ups turned publicly traded companies are the focus of a new policy memo from the Arkansas Policy Foundation entitled, “The Darkest Hour is Before Dawn,” in which the group’s executive director, Greg Kaza, captures those companies’ humble beginnings.

read the full article via ArkansasNews.com


Chrysler gives heave-ho to 789 dealers, 8 in state

May 15, 2009

Chrysler LLC on Thursday told 789 of its new-vehicle dealers, including eight in Arkansas, that it will terminate their franchise agreements, forcing them to stop selling Chrysler, Dodge and Jeep products in less than four weeks.

Chrysler is breaking contracts with about a quarter of its 3,188 retail outlets nationally. It has 36 dealerships in Arkansas.

Chrysler has received $4 billion in federal loans and has been operating in bankruptcy protection since April 30. Its sales this year are down 46 percent compared with the first four months of last year, and it reported a $16.8 billion net loss for 2008.

Bad news for car sellers will continue today.

General Motors Corp. will notify 1,000 to 1,200 of its dealerships that it will not renew their franchise agreements when they expire in September 2010. As many as 30 of GM’s 86 dealers in Arkansas could be eliminated, said Dennis Jungmeyer, president of the Arkansas Automobile Dealers Association.

Read the Full Article: Arkansas Democrat Gazette


What “darker side” of Dickson Street?

May 13, 2009

On the Fayetteville Flyer the community is discussing the recent coverage by 40/29 of the “Darker Side of Dickson Street” which you can read and watch here. Here is a clip from the article at FayettevilleFlyer.com written by Todd Gill:

40/29 News’ Tiffany Stewart recently was allowed to follow the Fayetteville Police Department as officers patrolled the Dickson Street area one evening. The report aired this weekend and twice referred to a “darker side” of Dickson while showing footage of a few kids who’d had too much to drink and were being arrested for public intoxication or disorderly conduct.

To be honest, I just shook my head and nearly forgot all about it … until this afternoon. As I was skimming through some Twitter messages, I noticed that The Morning News’ Skip Descant was covering today’s Advertising and Promotion Commission discussion which was centered around the future of the Walton Arts Center.

It seems to me that 40/29 is misinforming in an effort to pull the Walton Arts Center into Benton County? Businesses are flocking to the Down Town Fayetteville Area & the Chamber is doing a great job! This report has some local business owners wondering “Where is the ‘rest of the story’?”

You be the judge. Check out the comments from the community at the FayettevilleFlyer.com!


Kris Allen: “Heartless” (video)

May 13, 2009
I realize this has little to do with business, but it does have something to do with putting Arkansas on the map nationally!
Arkansas’s own Kris Allen preforms an incredible rendition of Heartless on American Idol. Did he secure his spot in the top 2?
(this clip is best viewed with Internet Explorer)

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From Unemployed to Employer: Providing more options at the NWA Job Fair

May 12, 2009

By Ray Ellen, Intermediary with CBI-Sunbelt in Lowell, AR

Visit my column on Newsvine!View this article at my Column on Newsvine!

On Monday, May 4th, 2009, CBI-Sunbelt attended the NWA Job Fair at the John Q. Hammons Center in Rogers, AR. It started at noon and lasted until seven that evening. As I walked back through the lobby at 11:45, I could not believe my eyes. The line was all the way out the door of the JQH Center! People were eagerly awaiting new opportunities and a chance to find something better for themselves. I could not wait to tell them what WE had to offer!

So why were we there? Are we always looking for new, high quality brokers and advisors? Yes! Was that our primary reason for setting up a booth at the job fair? No!

The number one reason we attended the job fair was to locate “corporate refugees” and inform them about our “401(k) Rollover Plan for Buying a Business”. Many of these refugees are former executives, managers, and supervisors who have recently been laid off and are now looking for an income. Many have leadership or executive experience as well as access to a 401(k). They are perfect candidates to buy a good business and start working for themselves.

About the 401(k) Rollover Plan

In addition to our Premier Lending Partner (PLP) program that has opened up more financing options for buyers (while the rest of the credit market is tightening), we also offer the option for buyers to use their 401(k) retirement plan without tax or penalty to buy a business. As recently reported by 1Worth Sparkman in the Arkansas Business Journal;

[CBI-Sunbelt] works with the Whitlock Pyle Group in Houston, which can take a 401(k) or any approved retirement account, and roll it into a new 401(k) profit sharing plan that will help fund a “C” corp. The result is that a buyer can typically use some or all of their retirement savings as the down payment on a business. As long as the business performs well, the retirement savings continue to grow.

About the Job Fair

With the NWA unemployment rate hovering around 25.4%, we knew there would be a big turnout. In 2008, organizers stated that they had about 1,500 participants and expected that number to double this year. Most of the patrons were only searching for a job that provided some form of immediate income or salary, but we asked them to think outside of the box; be their own boss; buy their next income and then we showed them how! We saw a lot of “job seekers” smile and realize that they do have more options, even in this economy. We gave them opportunity and asked them to think differently about their future. The response was exactly what we had hoped! Almost everyone we talked with had at least thought about owning their own business, if not owned a business previously. Job seekers walked up to our booth looking for a “job” and left thinking as an entrepreneur, a future business owner. There are many leads to follow up with and I hope to attend more of these in the future!

It was a pleasure to be a part of and just one more way that we, CBI-Sunbelt, help people sell and buy businesses!

1source: Arkansas Business Journal
2
source: Bureau of Labor Statistics


Deficit spending reaches 2 Trillion

May 12, 2009

This is breaking news… There will be more information released today. I will try to update the sources as the information is released.

Sources:

“A government big enough to give you everything you want, is strong enough to take everything you have.” – Thomas Jefferson