Uncertain times call for uncertain measures. Politicians can’t get over party politics. Banks don’t know how bad it is. $700 billion dollars. If we don’t act now, we will fail. Oh and it’s not just the big guys. These economic things are hitting close to home. Who knows if it’s fear or actual problems, but judging by the amount of young people drinking, things are going pretty well (for booze companies).
Fear heard on the Charlottesville street (and real advice):
“I’m buying gold right now”- Grab an AK-47, buy an old mine in West Virginia and lots of frozen dinners.
“My kid’s college fund is down from $70,000 to $35,000″ – Kids don’t need to go to college in order to prepare for the Rapture. Use that money to buy an online course (that is, if the internet still exists) from Liberty University.
“Catering businesses are down 25 to 50%; restaurants are suffering; food inflation is killing our margins; food service owners are not taking salaries” – Sorry folks, we already pay $3.50 for a slice of pizza outside of a ballpark. I’ll tell you what; you drop your $10 martinis to $7 and we’ll talk.
The real list of things that could really, really hurt Charlottesville (after the break):
- State budget cuts may force UVA and PVCC to lay off workers. How many? Who knows. [Daily Progress]
- Layoffs for big Charlottesville companies that are tied to the Financial Industry [SNL Financial; maybe Lexis Nexus]
- Layoffs for big Charlottesville companies which rely on people buying stuff on credit [Crutchfield]
- Restaurant industry actually hurting and employees getting laid off
If you are business owner or have insight into potential problems, let us know in the comments.
[pic from mahalie]
Related posts:
- Is the economic crisis making cVillains crazy?
- Recession’s First Major Layoffs Hit Charlottesville: 17th Largest Employer Furloughs 300 Employees
- Share Your Ridiculous Graduation Weekend Stories…
Are layoffs from SNL based on any actual information, or just an assumption? Because as far as I’m aware, we are actually prospering due to the volatile market (above budget in usage of our products).
Are layoffs from SNL based on any actual information, or just an assumption? As far as I’m aware, we are actually prospering from the volatile market (usage of our products is above budget).
And apologies for the double (now triple) post. It didn’t show up when I first posted.
i can’t wait to tell my grandchildren about all this, over and over again. then i’ll give them a $2 bill for christmas and explain that back in aught-9, that wouldn’t even buy you a bottle of cisco!
and then i’ll drink some more cisco.
if the “things that could hurt Charlottesville” wasn’t clear; it’s things we are guessing about.
@3 – it should say “waiting for moderation” if you are using a new name
@5 – Cool, just thought I’d make sure. Then I’ll go just go ahead and affirm that I don’t believe layoffs from SNL (at least on any large scale) should be an issue to worry about.
@6 – That’s what I was guessing, but it definitely didn’t tell me it was waiting for moderation.
if you are using a new name
THE CODE!! THE CODE!! gahh.
/shoutin outin
i think everyone is depressed today . i was walking down the mall and CVS was handing out free xanax
I’m positive for 2/4 in your list. I guess that puts me on the street. Wanna hire me?
what about restaurants? if they close we have nothing to talk about.
So speaking of SNL Financial, has anyone listened to their radio commercial? It’s kind of painful.
“Um, we’re a lot of bright people, a lot of young, bright people…with ideas that are…bright.”
Poor guy, I wish they had written something for him.
@11
if the restaurants and bars close down we’ll be able to get play from their waitresses before 2-friggin-a.m.
/always wondered what they look like in sunlight, sober.
Isn’t SNL outsourcing everything to to India anyhow? like the writing of that commercial? what will we do with all the flipflop-n-bermudas wearing fratboy potheads who work there now? How many JamBands can this town really support, if they’re forced to leave SNL and fall back on their ’skills’?
@12… Tinker… they used an amazing consultant for that particular commercial. I think it was someone Palin… 40ish…REALLY hawt glasses…. kept muttering something about Russia and a kitchen window.
It is unlikely that SNL will lay off anyone. They are a research firm who provide a product that is going to be needed in good times and bad. Restaurants will be closing and some already have Oxo/Boheme/O’Neils. All of these were undoubtably victims of the downturn that probably began around one year ago. One of the biggest things hurting retail businesses is gas prices. Charlottesville has traditionally had a strong regional tourist presence. People used to come in mass from Richmond, Lynchburg, Staunton, VA Beach and the DC area. This influx of tourists allowed the the town to support more businesses than the local population alone could support. Now with the reduction of regional tourism (look at the Omni in the evening and see how few lights are on in the rooms) due both to the increased cost (i.e. gas) and the reduced consumer credit (i.e. credit cards, home equity etc) their will inevitably be a contraction in retail business. The best businesses in the most desirable locations are most likely to survive and the marginal businesses in marginal locations might not. Each contraction will help each surviving business. Contractions will continue until it reaches a level that the local population + the new lesser tourists can support. If you particularly like a place, whether it is a restaurant, a store or whatever, now is the time to support it and try to buy things from local businesses when possible.
well-reasoned and well-put.
most of the tourists around here lately are Indian Outsourcers meeting with SNL Executives.
Sadly, every financial-institution merger or buyout/closeout that lays off 300 employees anywhere in the US is 250 subscriptions to young-bright-innovative-bright research-newsletters that they won’t be needing.
well said, er uh typed William
SUPPORT LOCAL!!
@16
but why would people come in mass (en masse?) from that swingin’ star of commerce light, fun and culture, sufficient and wonderful unto itself and provisory of every corporeal and spiritual delight, Lynchburg?
/jefferson was an ass for not building the university on the friggin RIVAH,
/as were the founders of Cville for not running mainstreet along or across it.
@19 for Whole Foods.
@19
ah, makes sense, exotic produce and people audibly devoted to high-fiber, high-legume diet. Deeeelicious prepared foods, but it’s a multi-national conglomerate, listed on the stock exchanges with an obscene profit-margin and the toothpicks they serve those quinoa-daikon-nuggets on are carved one at a time by starving children in rags squatting in labour-camps in the jungles of Borneo. Surprised Lburg hasn’t got one yet, given its wonderful renovation and growth—it’d be a nice coup if Oliver could persuade them to build one in the new downtown.
of alternative supermarkets, are any of them here local, or all franchises–Rebecca’s, Integral Yoga, Foods of All Nations? Almost everyone i know (vegans and food cognescenti) shop at BOTH Rebecca’s and WholeFoods, half and half in the same trip–why?
@21
i meant @20, and respectfully.
@21 I believe that all three are independent and local. If I remember correctly, there used to be more Foods of All Nations in other places at some point but the on in town here is the only one left. Rebecca’s is local, homegrown and has been the whole time. IY shares its name with many other places, most notably in New York City, but I think that’s only because they’re all predicated on the same yogic beliefs/system and not because its any kind of chain.
I have no idea why people shop at both Whole Foods and Rebecca’s in the same trip. I suppose there might be items at one that are not at the other, but you’re certainly not likely to save money overall going to either. (I don’t have a problem with the prices either charge, its just in my observation most people go to various stores for specific things or because they believe some things are less expensive in particular places).
@16 – I don’t think so. Restaurants close all the time, in good times and bad, for all sorts of reasons. While I’m sorry that some of them didn’t make it, I doubt any of the closings you mentioned we caused by macroeconomics. You forgot Ludwig’s, Daihachi, Orbit, Atomic Burrito, Cassella’s, and maybe Mesob (if the relocate plans don’t happen). And we have new ones — Boylan Height’s, The Upstairs, The Local, La Michoacana, a Korean-Japanese on Fontaine, new (or soon to open) Morrocan @ Ix, expanded Christian’s Pizza. Doesn’t sound like financial meltdown to me.
I do like supporting local places though. Will has that right. We have a lot of great local restaurants that you just can’t get elsewhere.
it’s dumb to have a college fund. if you don’t, you get more financial aid.
@25 True. Unless your parents are in the strange situation they have been (disabled father, mother can’t work b/c taking care of him) until one summer your mom puts together a few bucks (realising that her Social Security, far off dream its become, needs some padding after 17 years of not working), claims $300 on her taxes, thus resulting in the government revoking daughter’s Pell Grant because parent earned “income”. Where in the universe does $300 equal $2500?
@26 don’t think we’re arguing. for you i’ll revoke the “dumb” part though.
my mom when given a choice between working in the summer & taking 2 semesters off, took the summers off for the past 8 years, so as not to screw up my brother’s & my finaid. silly disincentivizing.
@24 – we have a ridiculous number of restaurants in our “greater metropolitan area”, so it only goes to reason that we will have restaurants opening and closing willy-nilly. The ones that are successful are those that do business well, the ones that don’t, um, don’t.
/Ew, too friggin logical, I get that
bbt, lose the chip..eh?
and, I totally take over…
/loser mentality, but lost “mentality” long ago
//night, folks!
@29 Suggestion duly noted. A reckless number of little things today, the cliched PMS, and a general abhorrence for federal government contributed to the antagonistic post….
/as always, things could be worse. I’m really not so negative.
bbt, you’re totally giving away your gender, no?
and another late night commenter tears it ui
ui=up
@24
Ludwig’s is a different situation. Running a restaurant is a grind and the owner of Ludwigs owns the location along with the guadalajara location and he chose to lease the space out to a tenant. For him it wasn’t so much as a closing as a transformation of his interests. Orbits and Atomic Burrito had licensing issues and at least Orbits was sold, but I don’t know how atomic burrito became the box. The other places you mentioned I don’t know about. People are certainly going to open new places in spite of whatever is going on. A good indicator would be the OXO space, while it isn’t an excellent location for downtown (i.e. not on the mall) it isn’t terrible either. I don’t recall exactly how long OXO has been closed but nothing has occured in the least to the space yet. Had this been 2005-6 their would have been a rush to get that space. Obviously something has changed since 2005-6 and its the national economy. In addition Downtown has been hurt by the opening of Forest Lakes which gave the people who live north of town an easy excuse not to come downtown as often. I’m friends with lots of business owners in restaurants, wine shops, auto dealers, construction, real estate and a bed and breakfast and all of them are feeling the pain right now. I honestly don’t know a single business owner that is living large currently but maybe (hopefully) some are out there or will be soon…