“Government’s view of the economy could be summed up in a few short phrases: If it moves, tax it. If it keeps moving, regulate it. And if it stops moving, subsidize it.”- Ronald Reagan
Each and every week, I ponder on what to write about. Then I saw an article in the Gazette regarding . In the article it says:
“The inability of the owners of Lakeforest Mall in Gaithersburg to refinance the property is a sign that the retail sector nationally is in serious trouble, a financial analyst said this week."
It went out to state “the owners of Lakeforest Mall were unable to secure refinancing for a $138.7 million loan from Morgan Stanley, and it has been transferred to a special servicer, said Frank A. Innaurato, managing director of commercial mortgage banking services’ analytical services for financial company Morningstar Inc.”
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Then on Thursday evening, President Obama addressed the Nation and said “the United States faces a national crisis" and plans to send the “American Jobs Act” to Congress with the intent to “revive the stalled U.S. economy.” Its purpose is simple: put more people back to work and put more money in the pockets of working Americans.
With the tanking economy, the government tells us that we need to buy to strengthen the economy. And that starts right in our own backyards. Local businesses are owned by people who live in this community and are more invested in the community's future.
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So, what is my point and what is the correlation between Obama’s speech and the Lakeforest Mall article? Glad you asked. Lakeforest Mall (like most malls in America) has a mixture of large chain stores and small businesses. Those small businesses are the key to stimulating this economy. At a large chain store, one will find a lot more variety, especially prepackaged foods, toys, and housewares. At a local small business, you may pay a little bit more for higher quality but it is worth it. Small businesses can't afford to anger or alienate its customers and employees. We depend on these small businesses to stay open, be profitable and help stimulate the economy.
With that said, here are five “Patch Picks” in Lakeforest Mall…..
Address: 701 Russell Avenue
About: At JC Penny one could find great styles & great prices. JC Penny Department Store carries a variety of brand-names apparel, home products, shoes, jewelry, cosmetics, optical and more. Currently they are having their “home sale”, with select items at 30-60 percent off.
Their website reports: “(JC Penny) one of America's leading retailers, operates over 1,100 department stores throughout the United States and Puerto Rico, as well as one of the largest apparel and home furnishing sites on the Internet, jcp.com. Serving more than half of America’s families each year…” A JC Penney press release noted the” total Company sales decreased 4.5 percent for the month (August). Remember, when you buy local, you are supporting job growth.
Hours: Mon - Fri, 8am - 9:30pm; Sat, 9am - 9:30pm; Sun, 11am - 7pm
Washington Redskins Official Store
Address: 701 Russell Avenue, Gaithersburg
About: With football season arriving this week, Redskin fans can purchase their football themed merchandise. They have it all, from football jerseys for the whole family to hats, visors, sweatshirts, tees, tailgating necessities and more.
The Washington Redskins does a variety of fundraisers for and supports its local community. They invest in our community with events such as their Alumni Charity Golf Tournament which benefits “Hearts and Homes For Youth,” a non-profit which aids at-risk kids. The Washington Redskins Charitable Foundation offers a $25,000 scholarship to “one deserving public high school student in either the District of Columbia or Prince George’s County, MD with a college scholarship that will be disbursed in $5,000 increments annually.” Where we shop, where we eat and have fun -- all of it makes our community home. The Redskins are an integral part of the distinctive character of this place we call home.
Hours: Mon-Sat: 10am-9:00pm & Sun: 11am-6pm
Address: 701 Russell Avenue, Gaithersburg
About: Royal Jewelers sells designer jewelry, gems, charms, a bridal collection, watches, diamonds and more. Shopping local businesses, like Royal Jewelers, they often hire people with a better understanding of the products they are selling and take more time to get to know customers.
Hours: Mon-Sat: 10am-9:00pm & Sun: 11am-6pm
Address: 701 Russell Avenue, Gaithersburg
About: If you want to remember your childhood, Candy World can help. This bulk candy store has it all from M&M’s to Sweet Tarts, to taffy and gummi bears, Candy World has it all. On the Candy World website, it states, “Candy World brings you over 16 years of experience combined with great customer service to provide the ultimate shopping experience.” It continues, stating “We plan, buy, and sell with only one thing in mind, the fulfillment of our customers’ desires.”
You as the consumer should buy what you want, not what someone wants you to buy: Small businesses, each selecting products based not on a national sales plan but on their own interests and the needs of their local customers, guarantees a much broader range of product choices.
Hours: Mon-Sat: 10am-9:00pm & Sun: 11am-6pm
Address: 701 Russell Avenue, Gaithersburg
About: This mall has over 60 shops, a food court and a child’s play area. The mall provides a variety of events, click here to check them out. The mall is a part of the Simon Property Group, Inc. According to their webpage, “the Company currently owns or has an interest in 392 properties comprising 263 million square feet of gross leasable area in North America, Europe and Asia.” Additionally it employs more than 5,000 people worldwide. The “Youth Foundation” helps at-risk kids in Simon mall communities earn high school diplomas and scholarships towards college.
Hours: Mon-Sat: 10am-9:00pm & Sun: 11am-6pm
