Correction appended 

President-elect Barack Obama’s first news conference yesterday since winning the election was buffeted with sobering economic news: The nation’s unemployment rate reached 6.5 percent, and the stock market continued its precipitous swings.

Some owners and operators of Columbia businesses interviewed yesterday said the Illinois senator’s ascension to the presidency could stoke enough consumer optimism to move a slumping economy forward.

"They’re going to have deal with so many things that are basically kind of dealt to them, a lot of things that are outside of their control," said Brad Eiffert, owner of Boone County Lumber, 1100 Rogers St. "With that said, I think one of the biggest things that we need right now is for people to be optimistic. I think to some extent our economy is self-fulfilling expectations. And I really do sense that a lot of people are willing to give this administration a chance and that they’re optimistic that we might have something new."

Paul Vernon, owner of Top Ten Wines at 207 S. Ninth St., echoed Eiffert’s sentiment about positive feelings about an Obama administration possibly alleviating economic woes.

"I’m optimistic," Vernon said. "I’m elated that we’ll have somebody who cares about everyone. I think that small businesses will benefit because I think that there’ll be a general sense of community with the new administration that will make people think about local businesses and local produce and living within their general area rather than jet-setting and buying from Chicago and New York and St. Louis."

David Danuser, co-owner of Bingham’s Traditional Clothing at 827 E. Broadway, said that ending the drawn-out process of electing a new president could help ease economic anxiety.

"I have hopes - as far as getting the election over with is the main thing - to where there’s some stability and people are looking toward the future, not the same-old," Danuser said. "So I think having a new administration is probably a good thing."

Any change in the tax code could directly affect small-business owners, Eiffert said.

Sanford Speake, co-owner of Sycamore restaurant, 800 E. Broadway, said he didn’t expect Obama’s administration to have much effect on his business, though it will have a sizable effect on the country.

"As an American, I feel like it’s got to have elevated the impression of the United States to the rest of the world," Speake said. "And that’s important to me."

Obama has promised to lower taxes for the lower- and middle-class tax brackets and raise taxes on the wealthy. That policy, Eiffert said, could mean his business would have less money to spend on trucks and equipment - something he said helps the economy.

"Most small businesses are taxed basically as individual income," Eiffert said. "I mean, it’s not a like a separate corporate entity that taxes flow right through on an individual basis. We need to have a light hand on that and allow people to retain some earnings to reinvest in businesses - especially for those of us who have been in some industries for some time. We need to be able to recover."

Eric Soeti, a manager at Kaldi’s Coffee House, 29 S. Ninth, said economic troubles will force everyone to make sacrifices.

"Extra taxes on small business, ... if that’s something that ends up actually helping everyone in the long run, if that’s something that’s going to improve things across the board, we’re excited to be part of that solution," Soeti said.

"Things are going to change. We’re going to have to pay a little bit more money this way and that way," Soeti said. "But these days, if people really want to help each other out, the best way to do that is to work together."

That doesn’t mean Soeti’s business would buy less coffee or lay off employees. He said it could mean that salaried staff receive fewer bonuses or pay hikes. "We’d be happy to do that as a company way before we’d let it affect our employees," he said.

This page has been revised to reflect the following correction:

SECOND THOUGHTS:  Sunday, November 9, 2008.

A news story yesterday about the outlook among Columbia business owners since the presidential election incorrectly identified a co-owner of Sycamore restaurant as Sanford Speaks. His name is Sanford Speake.

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