Joel LibavaThe International Franchise Association {IFA} has decided to take a stance on the administration’s proposed financial bailout of Wall Street, and it’s close cousin’s, the mortgage companies. Here is part of the letter that the IFA sent to every member of Congress:
"Congress must act quickly to remove bad
debts off balance sheets and ensure that financial markets can be
stabilized so that credit will continue to flow to U.S. consumers and
small businesses,� IFA President & CEO Matthew Shay said.
�Franchised businesses rely on stability in our financial markets to
ensure that affordable financing is available, and many franchisees
purchase their businesses using a combination of personal savings,
investments and borrowing. They will definitely face a more
challenging future if Congress fails to act.�
Do Congressman and Senators really read the letters they get from lobbyists? Some of them probably. The IFA does represent an industry that makes a huge impact on our economy. After all, millions of jobs are a direct and sometimes indirect result of the franchise industry.
The franchise industry is hurting pretty bad right now, like most other types of industry, so I do agree that swift action must be taken. Smart, careful, swift action, that is….
Here is the rest of the letter from the IFA to the Congress and the Senate.
{Full Disclosure. I am not a member of the IFA}
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