This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Mood Of The Nation: Businessman Sees A Recovery

MATT SEDENSKY

WEST PALM BEACH, Fla. (AP) â¿¿ On the eve of the 2012 elections, The Associated Press interviewed dozens of Americans to try to gauge the economic mood of the nation. People were asked about jobs, housing, gas prices, retirement and other issues. Among them was a man in Boca Raton, Fla.: Jay Baker, 69. He owns a flooring business whose revenue dropped after the housing bust. Recently, though, Baker has begun to enjoy a recovery.

___

The low point for Brookside Flooring came two or three years ago.

The housing bubble had wrecked South Florida's home market. Construction barely existed. Companies were closing or shedding staff.

Baker's company managed to survive. But it suffered.

Now? Business has rebounded in the past few months. Sales are still down by about a third since 2008.

But when you've withstood a savage housing bust, any sustained improvement feels gratifying.

"Slowly but surely, it's coming back," Baker says. "I really can't pinpoint it. All I know is that it's getting better, and it makes me happy."

Baker sees the overall economy strengthening, too â¿¿ and for that, he credits President Barack Obama for pushing his economic agenda against sharp Republican resistance.

U.S. unemployment has dipped, Baker notes. Stock prices have surged more than 13 percent this year. Consumers are more confident and spending a bit more.

When more people are working, Baker says, everyone who depends on a robust economy gains.

People aren't just more apt to replace the flooring in their home or business, he says. Restaurants and clothing stores benefit. So do auto dealers, contractors and furniture shops.

"In a small town, when a large business goes out of business, the people are out of a job, but all of the small businesses are affected, too," he says. "When business is better, everybody's affected."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,811.52 -116.68 -0.65%
S&P 500 2,076.29 -13.17 -0.63%
NASDAQ 4,908.8230 -30.5040 -0.62%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs