On Thursday I brought my puppy to work.
I am CEO of a company that imports slate, quartzite sandstone and limestone in tiles and slabs.
We would supply our dealers, and specified corporate projects throughout the United States. At least we used to be active distributors, but the recession/depression has seen our sales shrink by over 60% as the economy slides deeper and deeper into economic stagnation.
Our 10000 sf offices and distribution wareouse is located in an industrial complex in Western Nassau County, Long Island.There are approximately 15 square blocks of what used to be an eclectic assortment of commercial industrial businesses that called the area home .
On street parking was always scare, and the roar of large delivery trucks and interstate haulers caused the buildings to vibrate.
That is all past tense.
There is plenty of on street parking.
The roar and vibrations of large haulers is no longer background noise.
Perhaps the most discouraging sight comes at the end of my day, when i take my puppy for a walk through the industrial park.
Everywhere there are signs of abandonment and stagnation.
Building available.
Property for rent.
Available sale or lease.
Available, will sub divide.
PLEASE BUY OR RENT MYCOMMERCIAL BUILDING. I CAN’T FIND ANY NEW TENANTS, AND THE OLD TENANTS CAN’T PAY THE RENT, OR THEY ARE OUT OF BUSINESS.
The signs of neglect are everywhere.
The lawns are shaggy.
The bushes are growing somewhat wild.
Pot holes remain for months.
The aftermath of a storm remains for weeks.
Where in the past the plants worked multiple shifts, with management staying till 6:30 or 7:00, now the streets are empty by 5:05.
I see this as a microcosm of American small business.
The banks that hold commercial mortgages on these warehouses and small manufacturing businesses have to be in real jeopardy of defaults and foreclosures .
The roar of the underwater commercial loans is beginning to glub!glub! GLUB!