Two companies (one's a government run company). One is running in the red and going to stop Saturday business, the other is having its best year ever.
The first is the post office, so broke even stopping Saturday deliveries may not help the hemorrhaging. The second is the Deering Banjo Company in Spring Valley California.
It hasn't been easy for the banjo company: "If you ask the Deerings what their greatest challenge has been, the answer has been running the business in California, particularly during a run-up in workers' compensation insurance premiums that began under Gov. Gray Davis.
"That nearly put us out of business. We're still paying off some of those debts," Greg Deering said, adding that the company has remained in California mostly because the family considers it home.
"And because we are stubborn. We are so stubborn," Janet Deering said".
However they did it and whyever banjos are becoming more popular again, the Deerings " have expanded and trained its own workforce and expects to top $4 million in sales for the year ending June 30."
Good for them.
Post office is a hopeless case. It needs to declare bankruptcy, relign costs, and start over.
I hope the Deering Banjo company survives the latest increase in state income taxes. I would say California is a failed state, but that distinctions goes to Illinois.
Both run by Democrats.
Posted by: Ron | February 06, 2013 at 01:40 PM
Worker's Comp here can be quite controllable unless your employees become injured and your modification rate rises.
A failed state? 30 million of us would probably disagree. I've been part of a very successful business for over 23 years. Sure, ownership would love lower taxes, but they all still live here and live quite well. Business is so bad we've had a waiting list to rent slips in our marina almost the entire 23 years. Thirty feet is the smallest slip. And surprising even to me, Democrats keep getting stronger out here. Must be millions of happy people.
Yes, some businesses may leave and belly-ache as they go. But we go on and people keep moving in. Since I moved here in 1978 California's population has increased by more than the total population of Illinois and Missouri combined. That's a lot of added jobs.
Posted by: Rand | February 06, 2013 at 05:15 PM
I see California has the 3rd hightest unemployment rate in the US at 9.8%, as of November 2012 versus Texas at 6.5% and its population growth in the last 10 years lags behind Texas.
Posted by: Ron | February 06, 2013 at 09:27 PM
Didn't realize our comments had anything to do with Texas, but good on you for finding a state growing faster. I'm sure there are several more
High unemployment 'cuz y'all keep moving here. Probably the unemployed from Midwest looking for jobs. Population still increased faster than US on a whole; I'm sure faster than Missouri or Illinois.
I wish San Diego would stop growing.
Posted by: Rand | February 08, 2013 at 03:02 PM