Posted by Lisa Strawbridge - email
TOLEDO (WTOL) - Stocks are rising and cars are selling, but is the recession really ending? Some experts seem to believe we're headed for better days.
The recession is over! At least that's what this week's Newsweek shouts.
"It's slow, I can definitely see the recession still," says Bike shop owner Jill Wersell. Obviously, she sees things a little differently. As the newest owner of the Wersell Bike Shop in west Toledo, she says her cyclical small business isn't rolling the way it used to because customers aren't buying bikes like they used to.
Wersell's brother is a bit more optimistic. "From my point of view, it looks like we're starting to stabilize here in the local market," Bill Wersell told us. He shoud know. He's the director of small business at the Toledo Area Chamber of Commerce. That means he counsels struggling businesses back to health.
Bill said banks are sending fewer owners to his office because they can finally pay their bills. "They're stable now, and they're starting to hold at 40 or 50 employees. They're starting to see their orders coming back in, so that they will be able to recall some of the people that they've laid off."
While the cover paints a happy picture, sources cited in the Newsweek article aren't ready to celebrate. They only indicate a recession in the recession, meaning the gross domestic product drop has slowed down.
That won't help local businesses rebound until their customers get excited enough to spend again.
Bike buyer Chris Claypool told us, "He's just lucky that he's my only grand child, or we would be going to Kmart."
Wersell says while things are stabilizing for the Glass City, it could be awhile before more businesses add jobs.