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Rat’s-Eye View: Economy’s Fine

by Paul Bass | Jan 31, 2008 8:08 am

(1) Comment | Commenting has been closed | E-mail the Author

Posted to: Business/Labor/ Economic Development

bigrat.jpgOthers at the Business Expo weren’t so sure.

An inflatable rat’s-eye view on the local economy was provided by the rat’s owner, Robert Hannon of Non-Tox Pest Management. Hannon was one of the exhibitors Wednesday at the Chamber of Commerce’s annual Business Expo. This year the event filled the otherwise empty offices and shop floor of the U.S. Repeating Arms Company on Winchester Avenue, whose own closing in 2006 brought hard times of their own for 186 factory workers, the last employees out of a blue-collar workforce that once reached 19,000.

Now concerns about a mortgage crisis and housing slowdown have economists debating the R word — i.e. “recession,” hard times for a broader swath of the population. The view from the booths of small-business exhibitors at the Expo Wednesday varied, in part depending on the view from their cash registers and offices. Click on the play arrows below to watch their forecasts.

Robert Hannon said yes, he’s concerned about the economy. But, in the pest-chasing biz, he’s not feeling a recession. “Bugs,” he said, “don’t stop to read the paper. “

Stephen Kovel saw sales slow down at his Chapel Street store, Hull’s, in the home stretch of the holiday season. “Yes, we’re in a recession,” he said. “An overall sense of panic has encroached on the public because of the housing crisis and the mortgage crisis.”

Wait and see how the stimulus package works, said David Wrenn, vice-president of sales for Advanced Office Systems. “It’s up in the air.” He doesn’t envision laying people off in the coming year; he has contracts in place.

NPR convinced James Carta that a recession is coming. Just not at Companions & Homemakers, the company where he works, because of the elderly people and others who continue to depend on home aides.

Frank Damielo of Northeast Energy Partners is a believer — in magic. Click on the play arrow to watch.

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posted by: Mary Serreze on January 31, 2008  10:12am

Excellent post! It’s interesting to sea/hear how real-life business people answer the question: are we in a recession?

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