ASIA MEDIAPg4 - ASIA Media Frontpage

Economic prognosis: Gloomy;

Tolerance level: Coping

By Pitchapuk Jirawongsapan

Within six months, many of our clients...went out of business
– Donna Teranaviwat

on the east side of Los Angeles, said, “I have tremendously cut back on driving long distances. I haven’t been to the beach for months. Whenever I put my car's key in the ignition, I step back and think twice. Now I just drive between home and my work place.”
With people driving less, cars have not required as much maintenance, and that translates into less business for auto repair shops.
Mug, owner of Japanese Auto Repairs in Van Nuys, has noticed the negative effect on his business. “We have fewer customers nowadays. Fortunately, my son who used to help at my shop got a job with Honda Services."
Despite the economic problems confronting many small- and medium-sized businesses, not all have experienced financial setbacks.
In fact, Choochai Visitisomsuk, who operates the aquarium shop James Tropical

Fish in Inglewood, has been enjoying increased business since people have begun to choose to do more things around the home in light of the cost of traveling.
“My business has been selling more products compared with past years. Normally, the most profitable time of the year at my store is right after tax returns, then it usually dies down until November when people start to prepare their fish tanks for Thanksgiving," Visitisomsuk said.
While Choochai has been one of the fortunate few local business owners to benefit from the downturn in the economy, all consumers have felt the financial squeeze.
“As a consumer, I will take my car to have oil changed at a local auto repair shop instead of going to a dealer, which is more expensive,” said Donna.
In spite of Donna’s efforts, the experience of local auto repair shop owners such as Mug shows how small- and medium-sized businesses are still enduring problems.

Special to ASIA

With the ever-increasing price of gas and an unemployment rate reaching 6.9 percent, the national economy has been dismal. And while Asian business owners have not escaped the brunt of it, they are finding ways to cope with it and scale back.
In Los Angeles, the economic downturn has especially affected small- and medium-sized businesses, causing many owners to shut down operations.
Donna Teranaviwat, a credit card processor for the National Processing Company (NPC), or Retriever, a provider of merchant credit card processing in the city, noted, “In December 2007, we had accounts with over 550 clients. Within six months, many of our clients, including owners of dry cleaners, gas stations, auto repair shops, jewelers and car washes, went out of business.”
In all, NPC has lost 70 clients during this period. To help keep their customers in busi

ness, NPC has lowered monthly fees and reduced its own expenses to offset the financial problems resulting from a dwindling customer-base. Still, the company had to lay off four of its seven employees earlier this year.
Donna added: “We might also have to move our office to a location where the rent is cheaper.”
Local businesses have not been the only ones hit hard by the weak economy. The high price of gas has forced many local consumers to dramatically cut back on driving.
Chareamkhaw Choomchum, who lives

Shirley Hwong
For Monterey Park, she
personifies volunteerism

“I did it because I love volunteering.”
With that, Shirley Hwong pretty much summed up her years of dedication in service of the community, which recently earned her a special award from the City of Monterey Park.
Hwong was among three leaders honored by Monterey Park Mayor Benjamin “Frank” Venti as he took office last week, Hwong, for her years of volunteerism for the city.
As part of a special city task force, Hwong was key in organizing a campaign that raised more than $55,000 for victims of Hurricane Katrina and as a member of the Chinese American Citizens Alliance of Greater San Gabriel Valley, her efforts raised funds to buy a defibrillation unit for the city’s fire department.
Over the years, she has served as president of the Monterey Highlands School Parent-Teacher Association and on the city’s Community Relations Commission.
She says she is proudest of her stint as vice chairperson of Monterey Park’s Sister Cities Program, which has teamed up with cities in Japan and South Korea.
One of the program’s goals is to select two students from each participating country each year and bring them to the United States to attend classes at UCLA.
In September, Hwong will travel to Seoul, South Korea, to launch the program there.
In addition, she has raised money for an anti-polio project in China and on behalf of the Mark Keppel High School Marching Band, scheduled to appear in the Rose Bowl Parade in Pasadena next year.
“It gives me great pleasure to know that I made the difference to schools, organizations and our community,” Hwong said, prior to receiving the award, which, according to an official statement by the city is presented to a community leader “who continues to demonstrate their love of the city by volunteering and giving of their time and energy to improve the quality of life for others.”