Monday, November 2, 2009

Shopping Challenge

The post today on the Automatic Earth is about CIT Group's bankruptcy. CIT Group is one of the primary lenders for small to medium-sized businesses, and with the need to stock-up for holiday sales the concern is that many of these businesses will shutter-up (an estimated 200 to 300 retail stores in the average-sized population centers, which are cities between 20,000 and 30,000 people).

Ilargi says:
Makes you wonder where you’ll go buy your present next time Christmas comes around, doesn't it?

For those of us who participated in the Break the Chain challenge or the Handmade challenge, the answer is no, not really.

It doesn't make the situation any less horrible, but it does give one some peace of mind to not have to worry about whether the local Wal-Mart will still be in business this holiday season (we can hope not ...).

Don't forget to comment about how it went for you. I'll do the drawing on Friday.

1 comment:

  1. "Makes you wonder where you’ll go buy your present next time Christmas comes around, doesn't it?

    For those of us who participated in the Break the Chain challenge or the Handmade challenge, the answer is no, not really.

    It doesn't make the situation any less horrible, but it does give one some peace of mind to not have to worry about whether the local Wal-Mart will still be in business this holiday season..."



    Re-read the opening paragraph of your post...

    "The post today on the Automatic Earth is about CIT Group's bankruptcy. CIT Group is one of the primary lenders for small to medium-sized businesses,..."

    You need not worry about WalMart going out of business. It isn't small to medium sized and they're sittin' pretty. It's the mom-n-pops and small regional chains and/or franchises. What happens if your local shops can't get the loan to buy the supplies and materials needed by your local craftsmen? What happens when some of those local craftsmen and farmers can't get the financing they need to create next seasons stock?

    In today's world, without credit, your community could end up with ONLY WalMart at which to shop.

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