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Business Journal PO Box 510 Salisbury, MD 21803-0510
The Regional Chamber Newsletter
Vol. 12 No. 7
Dedicated to the Principles of Free Enterprise
February 2009
Preparations underway for the 27th annual Salisbury Festival Real Estate
How a slowdown in the market can benefit those searching for an opportunity Page 14
Forecast SACC Executive Director Brad Bellacicco shares his insights on the January 15 Economic Forecast
Page 3
Insurance
Dean Goodwin shares tips for selecting the best insurance for your business
Page 16
Member Spotlight
Spicer Brothers can help add value to your home through their renovation services
Page 7
Winter is in full force on the Eastern Shore but plans for this year’s Salisbury Festival have already begun! This year marks the 27th anniversary of the Salisbury Festival celebration, which is scheduled for Friday, April 24 through Sunday, April 26 in downtown Salisbury and Riverwalk Park. The festival kick-off Golf Tournament will take place on Wednesday, April 22 at Green Hill Yacht & Country Club. The Salisbury Festival is a familyoriented event, again sponsored by Comcast Bayshore Group, that highlights downtown Salisbury, helps nonprofit groups raise money and brings the community together to celebrate spring. With a carnival, car show, arts and crafts, food, a block party by the river, entertainment and so much more, there is something for everyone. All events and planned activities come from a committee of volunteers. The members are not just Chamber members; they are a varied group of people who want to make a difference in our community. The Chamber is now accepting applications for community performers, non-profit food vendors, arts and crafts, and commercial booths. We also need sponsors. We are always looking for new committee
members and events to add to the festival. Please share your ideas with us! The committee meetings for February are Wednesday, Feb. 11 and Wednesday, Feb. 25 at 4 p.m. at the Chamber
of Commerce. For more information, contact Shannon Mitchell at the Salisbury Area Chamber of Commerce at 410-749-0144 or email chamber@salisburyarea.com.
By Ann Wilmer While the jury is still out, local bankers do not talk gloom and doom; they just continue to do business in much the same way they have always done, carefully and conservatively. Scott Harvard, CEO of Shore Bank headquartered in Onley, Va., described financial prospects for the local area by saying, “It’s not a news flash – it’s a very difficult time out there right now.”
“Businesses paring back and laying people off. That’s an indication of the depth of the problem. Many small businesses have indicated that sales are down last year anywhere from 10 to 30 percent,” he said. “That can be pretty tough going.” But Shore Bank is still making loans. Harvard said, “We make loans to people we know, and whom we expect to pay us back.”
Greg Olinde, branch manager of Bay National Bank in Salisbury, called “downsizing staff one of the most difficult things a manager can do.” He characterized such difficult business decisions in terms of trying to preserve profits and capital. Downsizing – a gentler word for lay-offs – only saves money if it leaves the firm with enough
Planning has begun for the 2009 Salisbury Festival.
Local finances may not follow national trend
Salisbury Area Chamber of Commerce Patrons
www.salisburyarea.com
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