Word: proprietor
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Flores, 55, is the owner and sole proprietor of a local business, Carpet Care 4 Less. Throughout 2007, he saw his income plummet along with the national economy. "My business dropped off by 50%," he says. As his client roster evaporated, Flores started drawing on credit cards and took out a second mortgage to the tune of $57,000 in order to stay afloat. In 2009, out of options and under threat of losing his home of 10 years, Flores filed for Chapter 13 bankruptcy - a reorganization filing under which consumers agree to a plan to make payments of past...
...London cut its prices in the early 1990s to undercut its rivals, the move made sense only as part of a "seven or eight"-year plan, he says. Circulation did increase, and eventually the newspaper was able to raise its prices again. (Read "From Soviet Agent to London Newspaper Proprietor...
That hasn't deterred Chris Johnston, 36, the proprietor of punk label Plan-it-X Records. A genial Indiana native with a blond widow's peak and a penchant for flannel shirts, Johnston was looking for a decrepit Midwestern river town to relocate his business to when he saw Cairo on the map. "I grew up by the Ohio River," he says. "The more I read about the town's history, the more intrigued I got." Like the urban homesteaders who have set up shop in recent years in economically depressed areas of Detroit and Pittsburgh, Pa., Johnston came...
...Yasuteru Kamiya has no doubt though. The proprietor of the Happy End café in Toyota City's center sees Toyota's current crisis as yet another stop in the town's 30-year decline. Toyota City, he says, has never regained the bustle it enjoyed back in the 1980s, during the go-go years when Japan was the rising force of the global economy. Since the Toyota shock, Kamiya's sales are down 50%. "We're very worried that we can't continue," he says. And that all depends on Toyota...
Penzler is the proprietor of the Mysterious Bookshop in New York City