Quantcast

St. Paul businesses failing in wake of Minn. gov’t. shutdown

By Business Insider
Monday, July 11, 2011 9:12 EDT
google plus icon
mai-village
Topics:
 
  • Print Friendly and PDF
  • Email this page

By Gus Lubin

Downtown St. Paul is suffering the Keynesian multiplier in reverse (via @obsoletedogma).

Beyond the 22,000 public sector workers who are out of work during government shutdown, businesses that depend on government traffic have cut hours and laid off workers, according to the Star Tribune:

Matt Kramer, president of the St. Paul Area Chamber of Commerce, estimates the shutdown has taken about 3,000 state workers away from downtown. Businesses can probably endure for a week or two, but anything longer is concerning, he said.

“It’s really important to remember that we have a very fragile economic recovery,” Kramer said. “If you’re a small retail operation … people would be amazed how thin the margins are. If your business goes down 30 percent, you’re going to have to make some significant adjustments on the spot.”

Mai Nguyen of Mai Village (pictured) reports around 75 lunch customers, down from 175 before the shutdown.

Alinda Saurez of Pickerman’s Soup and Sandwiches says: “I don’t know even if we’re going to make it for rent next month.”

Read more at the Star Tribune

####

You might also like…

  • Obama To Face The Press On Status Of Debt Ceiling Talks
  • Politics In 60 Seconds: What You Need To Know Right Now
  • On Day 10 Of Government Shutdown, Businesses Are Failing In Downtown St. Paul
  • Bachmann’s Legislative Record “Nonexistent,” Says Pawlenty
  • Debt Ceiling Negotiations Turn “Testy” As Republicans Reject New Taxes
  • Business Insider
    Business Insider
    Business Insider is a new business site with deep financial, media, tech, and other industry verticals. The flagship vertical, Silicon Alley Insider, launched on July 19, 2007, led by DoubleClick founders Dwight Merriman and Kevin Ryan and former top-ranked Wall Street analyst Henry Blodget. Business Insider is dedicated to aggregating, reporting, and analyzing the top news stories across the web and delivering them to you at rapid-fire pace.
     
     
     
     
    By commenting, you agree to our terms of service
    and to abide by our commenting policy.
     
    Google+