More on the Credit Crunch - SV650.org

BanannaMan · 04-03-10, 05:42 AM

Seems things are bad everywhere.

Even though I own my own business, our parent company (Chevron) has sold out 1100 stations (including mine) to another oil company or companys (still un-named to the retailers).

They will be closing some.
With the recent downturn in the economy and job losses here, and the fact I have one of the older buildings, I fear my business may be one of those affected.
Without running a business there's no way could pay off all the current bills so would have to sell the house and everything to pay off bills from both home and business. Then nothing left to put up for a loan to relocate or start a new business.
Meaning no house, no job.... completely wiped out. (Ouch!)

Also I feel really sorry for the people who work for me and their families who depend on their income. I'm sure it would be devastating to them as well. Jobs are still on the decline here so very, very hard to find work. (for them and me)
They know of the sale but I've not yet told them of the possible closure.

I have to meet with the bigwigs Friday morning. Will likely get the news of our fate then.

In July 2009 we were ranked in the top 3% of all Chevron/Texaco facillities in the eastern half of the US. (our sales territory)
Today I'm just hoping and praying we'll be able to keep the doors open.

That's the Petrol businees here though...One day you're a king and the next a pauper.
Exxon left here a couple of years back (simmilar circumstances and devastating to the owner) and the local BP went under ...2 weeks ago.

04-03-10, 05:47 AM

That sucks big hairy balls

Keeping my fingers crossed for a positive outcome on Friday.

mattSV · 04-03-10, 07:37 AM

Fingers crossed for you yellafella.

punyXpress · 04-03-10, 10:37 AM

If Exxon & BP have left, what others besides yourself are still in town? Is it too late to get the local Mayor on side?
Best of luck on Friday.

04-03-10, 10:47 AM

Good luck BM. Hope it all works out.

04-03-10, 10:51 AM

That`s devastating

I sincerely hope that you don`t receive that blow on Friday and there`s a positive outcome. My fingers are crossed for you and your employees

Sid Squid · 04-03-10, 11:08 AM

Hope it works out for you.

04-03-10, 12:55 PM

Can you take out insurance to cover the mortgage and bills incase of redundancy?

Stu · 04-03-10, 01:12 PM

Quote:

Originally Posted by punyXpress

If Exxon & BP have left, what others besides yourself are still in town? Is it too late to get the local Mayor on side?
Best of luck on Friday.

+1
If you're doing so well for sales & the competition is decimated can you get anyone to sell you petrol, for you to continue as an independant?

hope it works out somehow.

04-03-10, 05:42 PM

If you're profitable they'd be mad to close you given the withdrawal of competition in the locality.

I'm not certain on this, but I thought the best way to save money was to increase profits rather than cut them back.

If, on the other hand, you've not turned a profit, despite being in the top 3%, then you'd expect to be closed. Those that were in the bottom 3% would surely be first on the list.

04-03-10, 05:42 AM	#1
BanannaMan Member Join Date: Feb 2008 Location: Appalachia Posts: 419	More on the Credit Crunch Seems things are bad everywhere. Even though I own my own business, our parent company (Chevron) has sold out 1100 stations (including mine) to another oil company or companys (still un-named to the retailers). They will be closing some. With the recent downturn in the economy and job losses here, and the fact I have one of the older buildings, I fear my business may be one of those affected. Without running a business there's no way could pay off all the current bills so would have to sell the house and everything to pay off bills from both home and business. Then nothing left to put up for a loan to relocate or start a new business. Meaning no house, no job.... completely wiped out. (Ouch!) Also I feel really sorry for the people who work for me and their families who depend on their income. I'm sure it would be devastating to them as well. Jobs are still on the decline here so very, very hard to find work. (for them and me) They know of the sale but I've not yet told them of the possible closure. I have to meet with the bigwigs Friday morning. Will likely get the news of our fate then. In July 2009 we were ranked in the top 3% of all Chevron/Texaco facillities in the eastern half of the US. (our sales territory) Today I'm just hoping and praying we'll be able to keep the doors open. That's the Petrol businees here though...One day you're a king and the next a pauper. Exxon left here a couple of years back (simmilar circumstances and devastating to the owner) and the local BP went under ...2 weeks ago. __________________ ...Bill *"The Mountains are calling and I must go"* Last edited by BanannaMan; 04-03-10 at 05:54 AM.

04-03-10, 05:47 AM	#2
lukemillar Guest Posts: n/a	Re: More on the Credit Crunch That sucks big hairy balls Keeping my fingers crossed for a positive outcome on Friday.

04-03-10, 07:37 AM	#3
mattSV Member Mega Poster Join Date: Jul 2003 Location: Darn sarf, innit Posts: 2,025	Re: More on the Credit Crunch Fingers crossed for you yellafella. __________________ 2000 - 2004 SV650S 2004 - 2009 SV1000S 2009 - 2013 Triumph Sprint ST1050 2013 - 2016 Triumph Explorer 1200 2016 - Ducati Multistrada DVT S

04-03-10, 10:37 AM	#4
punyXpress Member Mega Poster Join Date: Feb 2008 Location: Riding, North Posts: 2,664	Re: More on the Credit Crunch If Exxon & BP have left, what others besides yourself are still in town? Is it too late to get the local Mayor on side? Best of luck on Friday. __________________ Was: K2 naked in rapid yellow - gone to a better? place Now: Street Triple R

04-03-10, 10:47 AM	#5
RichT Guest Posts: n/a	Re: More on the Credit Crunch Good luck BM. Hope it all works out.

04-03-10, 10:51 AM	#6
Speedy Claire Guest Posts: n/a	Re: More on the Credit Crunch That`s devastating I sincerely hope that you don`t receive that blow on Friday and there`s a positive outcome. My fingers are crossed for you and your employees

04-03-10, 11:08 AM	#7
Sid Squid No, I don't lend tools. Mega Poster Join Date: Jul 2003 Location: Skunk Works, Nth London Posts: 8,680	Re: More on the Credit Crunch Hope it works out for you. __________________ If an SV650 has a flat tyre in the forest and no-one is there to blow it up, how long will it be 'til someone posts that the reg/rec is duff and the world will end unless a CBR unit is fitted? A little bit of knowledge = a dangerous thing. "a deathless anthem of nuclear-strength romantic angst"

04-03-10, 12:55 PM	#8
Warthog Guest Posts: n/a	Re: More on the Credit Crunch Can you take out insurance to cover the mortgage and bills incase of redundancy?

04-03-10, 05:42 PM	#10
sinbad Guest Posts: n/a	Re: More on the Credit Crunch If you're profitable they'd be mad to close you given the withdrawal of competition in the locality. I'm not certain on this, but I thought the best way to save money was to increase profits rather than cut them back. If, on the other hand, you've not turned a profit, despite being in the top 3%, then you'd expect to be closed. Those that were in the bottom 3% would surely be first on the list.

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