Word: repairable
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Dates: during 1990-1999
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...tell you the truth, I don't really know,"said Steve Rossman, owner of The Swiss Watchmaker,when asked about how severely the new tax wouldaffect his repair operations. "I'll worry about itwhen the time comes...
...lacked collateral. Then she heard about a group called Women's World Banking, which agreed to guarantee up to 75% of any loan she received. With the group's backing, Montenegro found a bank that was willing to lend her $3,125. Eight years later, she owns three bicycle-repair shops and employs 18 people. "The world has enough workers," says Montenegro. "What I wanted to do was create more jobs...
...three years Colin Richardson faithfully made every payment on the $125,000 mortgage on his small auto-repair shop in Lexington, Mass. But last February the Bank of Boston suddenly called in the loan. The bank, which was responding to pressure from U.S. regulators to tighten credit standards, relented only after an outraged Richardson went public with his plight by telling it to reporters in a one-man media blitz. Says he: "It would have made no sense to close my doors and sell everything off just to pay back the bank. How absolutely ridiculous and astounding for a little...
...industries are as threatened by tight credit as that quintessentially American small business, the neighborhood car dealer. Already hurt by weak sales and slender profits, dealers across the country are watching their lines of credit dry up for everything from showrooms to repair shops. According to the National Automobile Dealers Association, 2,000 dealerships, or 8% of those open in the U.S., will close their doors...
...They're trying to repair the problem by coming at the wrong end," says Joel Segal, an executive vice president of the ad agency McCann-Erickson. "I don't see how bringing in a third person will help bring up the first...