Winston-Salem Business Owners React To U.S. Credit Rating Drop

Winston-Salem Business Owners React To U.S. Credit Rating Drop

August 8, 2011 |

Some area business owners aren't taking many risks because of the political fighting between Democrats and Republicans in Washington, D.C. Jim Douglas is President of Voltage Ventures, Incorporated which is the holding company of Douglas Battery and Auto Care. It is located on North Broad Street in downtown Winston-Salem and employs 24 people. The company also has a store in Lexington and another one in High Point. Douglas says he and his partner, Vice President Joe Jarvis, want to expand into Greensboro, but they may delay this plan since the United States' credit rating has dropped. Meanwhile, Jarvis says he's loosing confidence in how Capitol Hill politicians are running the government and believes many are motivated by greed. Jarvis does say Douglas Battery's revenue at this time is about eight percent higher than it was in 2010 at this time. But he would not disclose the company's 2010 profit figures. Douglas Battery was founded in 1921. Douglas and Jarvis purchased it from Douglas Battery Manufacturing in 2007.