The Refinishing Touch Blog

Currently, it's been near impossible to escape the news of our country's financial crisis. Phrases like "financial meltdown" or "the largest bailout since the Great Depression" are constantly the focus of the news. Earlier in the week, the Bush Administration asked Congress to pass a bill allowing Washington to purchase $700 billion in bad mortgage-related assets from U.S. financial institutions throughout the next two years, which, if passed, would push the National debt limit to $11.3 trillion. With Wall Street regressing so quickly, it's easy for people to enter panic mode and try to make decisions hastily. This government "bailout" is being promoted as a rescue effort, with concerns for middle class families trying stay in their homes.

So with all of this financial crisis, where do we stand at The Refinishing Touch? As a self-financed company, we know first-hand that managing existing assets is more important now than it's ever been. For our customers, the same rings true. If you've been borrowing against assets that have been dwindling, you need to be able to make the best of what you have and manage them wisely.

If you're finding yourself struggling because of Wall Street chances are you're not running out to replace all of your old furniture in your home. The industries we serve are feeling the effects as well. With less Americans traveling for leisure, the hospitality industry has to rely on more foreign travelers. Universities are searching for more funding to be able to help middle-class families afford to provide higher education to their children.

We're glad that we're able to provide some help in these troubled times to people and organizations who are looking for improved facilities but who can't push for everything to be brand new. Refinishing desks and chairs in a university dorm or conference tables in a small business instead of buying new pieces allows these organizations to continue to manage assets in the ways that are most important to them. As we continue in a country with financial uncertainty, it's reassuring to know that our efforts go beyond tables and desks to the lives of the people that sit at them.

Labels: economy, finance, self finance, Wall Street