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Erik Sine

Eviction Notice

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Get out!!! :getOUT:

Business has started to slow a little bit here for me so I decided to hit the streets, something I haven't had to do in some time. But while I was out looking to drum up business all the shopping centers here are emptying. To top it off, for every shop that has gone out of business and is now vacated, 50%-60% of them have Sheriff Eviction notices taped to the window and bills from the utility companies are crammed in the door mail slots, WOW! Holy smokes, that used to be a rare thing to see. Now it's pretty common to see now.

This is only going to get worse.


You have enemies? Good. That means you've stood up for something, sometime in your life. - Winston Churchill

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Same here in OC. Our office is in a business park area and businesses are closing all around.

An artifical grass business just opened right next to us. Seems that people would rather have fake lawns than a high water bill.

A lot of the work we do is at Gas Stations and I have several quotes I submitted to Dealers who can't get money from the bank.

We've hit the streets too and found bsuinesses that REALLY NEED their signs repaired. Give them a good quote for the work, and they don't have the money to do it. Here's an example of a sign that needs repair and the owner didnt want to.

med_gallery_2729_78_580826.jpg

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Yeah, we used to average 8-10 service calls as week, but for the last few months it's been about 2. People are keeping tight hold on their money.

On the other hand, we have had several long standing customers open new stores and call us. But all in all, it's slow. So we are all taking turns at taking days off (vacation!) and the boss paid for a couple of continuing education classes for our electricians.

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Here's an example of a sign that needs repair and the owner didnt want to.

med_gallery_2729_78_580826.jpg

I've seen franchise's and corp owned stores holding off on repair work right now. What does THAT tell you?


You have enemies? Good. That means you've stood up for something, sometime in your life. - Winston Churchill

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In Las Vegas it is the worst in the nation - entire shopping centers are vacant in some places...and you are right, it is only going to get worse.

In Auckland New Zealand, the 2nd country in the world to announce they were in a recession, we are seeing something totally different...a lot of construction going on and businesses seem to be doing ok. And the country just recently announced it is hosting the World Cup of Rugby in 2011 (like the Olympics) which is huge economy stimulator.

Overall our business continues to grow very quickly - mostly because people see our product performance and then wonder why they are paying much more for GE, Sloan, Permlight, USLED, Agilight, CAO - when they can get the highest performing product for much lower cost.

We are seeing some new large European chains coming into the USA - believe me when I say some new and unusual names will be appearing in the shopping centers that are closing down.

In Athens Greece where we sell a lot of our Sea Turtle Amber lights things are slower than a few years ago but business arent closing down - just slowing - and some taking more vacations to go to the beach and drink more Ouzo. Yesterday the streets were buzzing with massive crowds.

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As I understand it from an old family friend who was in industrial real estate for 40 years, there is a major commercial RE bubble that is about to pop. A whole new round of foreclosures is on its way.

And Manuel, Ouzo is what my sister brought me as a souvenir years ago after her visit to Greece. Man, I would rather eat my own arm than drink that again!

Garett


Sincerely,

Garett Churchill

Fluxeon, Inc.

USA

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As I understand it from an old family friend who was in industrial real estate for 40 years, there is a major commercial RE bubble that is about to pop. A whole new round of foreclosures is on its way.

And Manuel, Ouzo is what my sister brought me as a souvenir years ago after her visit to Greece. Man, I would rather eat my own arm than drink that again!

Garett

Then you should not try Absynthe...I forgot what we did...very odd.

And yes, you are right, a whole new round of foreclosures are coming. In the Venetian hotel for example a ton of stores are going to be leaving because their 10 year leases are ending...just one example we noticed a couple of weeks ago.

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Yes, they typically come in 3 waves. The Housing market was the first wave and now the Commercial Real Estate market will be next.

The last wave will be Credit Card default which is looming and will have a major impact on the banking industry.

I’m no economic expert and I hope that I am wrong on what will happen next.

I’m glad to hear the “Cash 4 Clunkers” program is doing so well. Hopefully we can endure these tough times and make it through to a better future.

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Donco, do a Google search for "broken window fallacy". I'm not sure this is anything but a way for the government to boost sales in its new car business!

Garett


Sincerely,

Garett Churchill

Fluxeon, Inc.

USA

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Understood Garrett.

Regardless of who the money goes to, the fact that money is flowing through the economy is important. People have stopped spending money and are holding on to it. It is an economic paralysis that will only prevent the economy from recovering and cause stagnation.

The Government is offering incentives to get people to spend money again and start the economy moving again. Instead of the trickle down theory, I prefer that Gov’t Stimulus money start at the bottom and work its way to the top.

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Yes, they typically come in 3 waves. The Housing market was the first wave and now the Commercial Real Estate market will be next.

The last wave will be Credit Card default which is looming and will have a major impact on the banking industry.

I’m no economic expert and I hope that I am wrong on what will happen next.

I’m glad to hear the “Cash 4 Clunkers” program is doing so well. Hopefully we can endure these tough times and make it through to a better future.

Here in SW Florida the Commercial Real Estate properties have been in a major decline for over a year already. The strip Malls are empty and they are building more???? Makes no sense. The major Malls are losing tenants at a alarming rate too. Think we are ahead of the National curve.....unfortunately!

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We have seen the shopping centers emptying out as well. This is the case in all of our territories throughtout the Western US. I meet with developers every week and each one of them tells me that they cannot get funding to upgrade, build, or repair their centers. However, we are starting to see our small account permitting division pick up a bit. We re finding that though many of the large chain stores are not expanding the mom and pops are starting to open stores due to the decreased rental rates that kept them out of the market in the past. Also, after speaking with many of the large chain stores it appears that they are waiting for the recession to ease a bit more before outlaying the money to upgrade their images to a fresh new post recession look.

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In my travels I have noticed a new franchise all over "for sale, for lease"

It's a bad joke but had to say it.


GOOD things happen for a reason......

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In my travels I have noticed a new franchise all over "for sale, for lease"

It's a bad joke but had to say it.

and that was funny

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