(10/1/08) The economic crisis has stalled the credit industry and one of the major victims is small business. Many have relied on credit to survive.
Although Medford is experiencing street protestors opposed to a bailout of any kind business owners that we talked to favored some sort of settlement on Wall Street. They said it would help calm things down on Main Street.
From the furniture store to the local car lot small business owners are feeling the credit crunch. Many rely on short-term loans to order inventory and pay employees.
Some of the owners say they are downsizing. Furniture store owner Joe Pedrojetti has been in Medford for years and is being proactive.
" We've consolidated all of our inventory into one store ,we used to have a store in Grants Pass (and) we closed one we had across the street. That's just what you do."
Owners are hoping for an eventual upturn that will bring business to normal in the next couple of years.
