Money Problems, Job Losses

Theis Precision Steel of Bristol said it's laying off its third shift, some twenty workers beginning Nov. 10.  The reason, they say, is tight credit.

And in Groton, Norm's Diner has closed down.  Owner Dan Logan says rent, taxes and utilities have skyrocketed, while his business is down 25%.

Small business owners in the state say that whatever the federal government may have designed to increase the willingness of nation's banks to lend them money -- it hasn't trickled down yet.

Gene Guilford, executive director of the Independent Connecticut Petroleum Association, said today he has no idea why the credit relief has not been forthcoming. 

He, along with a coalition of nine energy associations throughout the northeast, has written Treasury Secretary Paulsen asking him to speed-up relief from the credit crisis.

Until there's relief, he says his members will continue being hit hard - as are car dealerships, dry cleaners, and your neighborhood grocery store.

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