Bank calls in Shell station's loan

Full story: WOOD-TV Grand Rapids and Michigan

A Boston Square gas station closed its doors after the bank called in the loan. The owner of the Shell station, Edward Eursher, told 24 Hour News 8 he'd been making payments but was too far behind.

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MoreToCome

Grand Rapids, MI

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#1
Sep 23, 2008
 

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Sorry to see businesses closing, but have a feeling that more of this will happen in the near future...

Hard to make ends meet now days...

Since: Mar 08

Jenison

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#2
Sep 23, 2008
 

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Sadly, this is a sign of the times. So many small businesses are closing because they can't make it in this economy.
Truth 007

Grand Rapids, MI

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#3
Sep 23, 2008
 
Unfortunately 'MoreToCome' you are right. Well wishes to him. He is a nice guy. I was just in there Sunday. See how quickly things can happen.
Reality Check

United States

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#4
Sep 23, 2008
 

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gotta pay your bills
wow

Grand Rapids, MI

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#5
Sep 23, 2008
 

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well well well... how the shoe falls on the other foot so fast...what goes around comes around...
GR Mich

Tulsa, OK

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#6
Sep 23, 2008
 

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Gas stations make profit off from things like pop, snacks, and cigs. They don't make much from the fuel and when people are watching what they spend they are not going in to buy snacks anymore.
I always used to go in to pay and I would buy a pop and some snacks while I was in there, but now I just pay at the pump and leave.
Deep Thinker

Grand Rapids, MI

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#7
Sep 23, 2008
 

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MoreToCome wrote:
Sorry to see businesses closing, but have a feeling that more of this will happen in the near future...
Hard to make ends meet now days...
This is so true. Economic times are tight for eberyone. Hope he can rebound after this.
Paul

Grand Rapids, MI

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#8
Sep 23, 2008
 

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Sorry about the closing Edward was a nice man and his employees were always very kind. Sad to see a friendly establishment close its doors. Take care and good luck.

Since: Jul 08

Jenison

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#9
Sep 23, 2008
 

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It's always sad to see a business close, but bills have to be paid or the banks do call up loans. Sad situation all around, but it happens. Many more will be facing this situation in the coming months due to the financial insecurity the economy is now facing. Look at Wall Street, that's a pretty good indicator of whats to come.
Jokers Champion

Grand Rapids, MI

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#10
Sep 23, 2008
 
doesn't that make it only 3 gas stations on Grand Rapids SE side now?
heas12

Detroit, MI

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#11
Sep 23, 2008
 

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If the government can BAIL-OUT all of these banks then they ought to be able to help out this small bussiness owner as well. This is what he gets for trying to play by the rules...WHAT A SHAME !
heas12

Detroit, MI

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#12
Sep 23, 2008
 
Paul wrote:
Sorry about the closing Edward was a nice man and his employees were always very kind. Sad to see a friendly establishment close its doors. Take care and good luck.
DITTO !
heas12

Detroit, MI

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#13
Sep 23, 2008
 

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wow wrote:
well well well... how the shoe falls on the other foot so fast...what goes around comes around...
Let me guess....republican ?
Gary

Fennville, MI

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#14
Sep 23, 2008
 

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Trickle down effect of labor union greed.
Chris

Chicago, IL

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#15
Sep 23, 2008
 
Given that most of a gas station's profit is derived from convenience store sales (not fuel sales), it's not surprising that they couldn't make it, with the firmly established Walgreens store right across the street.
Chad

Grand Rapids, MI

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#16
Sep 23, 2008
 
heas12 wrote:
If the government can BAIL-OUT all of these banks then they ought to be able to help out this small bussiness owner as well. This is what he gets for trying to play by the rules...WHAT A SHAME !
Sadly, small businesses don't make the network news. It's only when things like this or the Double J fiasco occur, that it becomes "news".

Some people wait most of their lives for their 15 minutes of fame...and then they get it and wish they could erase it.
internet troll

United States

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#17
Sep 23, 2008
 
It's not a surprise that in that part of town you would have a difficult time making a nickle selling convenience store items.

With the shootings and shoplifting, I would bet the guys insurance rates were through the roof.
Wally Walker

Grand Rapids, MI

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#18
Sep 23, 2008
 

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Call Washington DC for a loan, they are handing money out faster than they can print it.
I now own a insurance company (AIG) why not a gas station?
'Let my people go'.

WW
GR
fools

Farmington, MI

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#19
Sep 23, 2008
 

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GR Mich wrote:
Gas stations make profit off from things like pop, snacks, and cigs. They don't make much from the fuel and when people are watching what they spend they are not going in to buy snacks anymore.
I always used to go in to pay and I would buy a pop and some snacks while I was in there, but now I just pay at the pump and leave.
BULL the gas stations dont make much on gas, thats what they say and you all fall for it. I have a friend that owns a gas station, believe me they make more then they care to admit.(he told me that by the way) new gas stations being built everyday...HHMMM wonder why they would build more if there is not much profit in gas..funny thing is that the admiral's which dont have much of a store seem to do fine and usually have the lowest prices. they must do it out of charity for us.
Hawaii 50

Grand Rapids, MI

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#20
Sep 23, 2008
 

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The local thugs did this guy in between shoplifting, drive offs and shake down money it's no wonder he could not survive.
Now they better head on down the road to the Mobil on the corner of Kalamazoo and Burton to get their free stuff.
But from what I hear those people pack some heat.

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