RE: [Paddlewise] PWS

PWS closed last November after 32 years in the business. They were forced to
move a few years before to make way for a new airport parking lot (shades of
the earth in Hitch-hiker's Guide to the Galaxy). The move was costly and
they expanded into a much bigger location with a lot higher overhead just
before the market for canoes and kayaks was about to take a nose dive (after
9/11/2001). They also did not want to lay off good employees during what
might prove to be just a temporary down turn so they kept too many employees
on the payroll for too long and the combination resulted in too many
expenses and not enough income to cover them. The Boeing/Airlines downturn
and the dot.com bust has had a bigger depressing effect on the local economy
(relative to the national economy) as well. WA and OR have had the highest
unemployment rates in the country since 9/11.

Matt Broze
www.marinerkayaks.com
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