Editorial: Feeling economic ripples on Innes Street
The big changes making national headlines are sending ripples out across the country, including right here in Rowan County. The Troubled Asset Relief Program for banks that began under President George Bush seemed distant last year. But by this spring nearly all banks with branches in Rowan County received millions of dollars through TARP, money they will have to pay back.
National problems with unemployment, foreclosures and budget shortfalls can be found right on Main and Innes streets.
And the national changes in the automobile industry have come to Rowan to roost, with Team Chevrolet buying Salisbury Motor Co.’s GM brands this week. That puts all GM brands under one dealership roof in Salisbury and ends Salisbury Motor’s 90-year relationship with Buick. It feels like the end of an era, except the Don Clements ó Jr., III and IV ó are not calling it quits. Their business will stay open, dealing in used cars and offering service. Meanwhile, the beat goes on for new car dealers. Sooner or later people will have the money to buy new vehicles again. Let’s hope it’s soon.
Don’t like ‘torture’? Here’s an alternative I’m certainly glad that Tim Rutten of the L.A. Times has decided that water... read more