That is not what I implied. Let me disclose that I am a left-wing conservative. It just appears to me that Obama wants to solve all problems and what better way to get sympathy then by having a disaster, be it financial or otherwise. If the economy was still chugging along and all was fine, I believe that his future "Change" would be harder to come by. I think we might be off topic.
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Back on topic, sadly I report that it looks like my business that I built from scratch - 8 years young, 30M in sales, and 7M in capital, is going down. A large client breached a purchasing contract, creating a need for working capital. After 6-months searching, I can't seem to put anything together, and I have burnt ~1M in cash. The most frustrating part is that the total need is only about 2.5M, and the business earns over 3M EBIT at that WC level. I had a company ready to issue LOI last week, but it fell through last night. So, I'm throwing in the towel. Anyone want to buy a factory in South America? LOL - need to keep a sense of humor...
Thats sad to hear, sorry man. Since January I've burned $200k in savings. During the past 2 months I've had in average about 5 container deliveries a day (I'm in the trucking intermodal business). I'm happy to report that in the past 3 days I've had about 50 containers that I've delivered, so it seems to be coming up a little.
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Ouch. That is alot of sales. And what is the client saying? Is he just
Quote:
Originally Posted by Dick Fidd
Back on topic, sadly I report that it looks like my business that I built from scratch - 8 years young, 30M in sales, and 7M in capital, is going down. A large client breached a purchasing contract, creating a need for working capital. After 6-months searching, I can't seem to put anything together, and I have burnt ~1M in cash. The most frustrating part is that the total need is only about 2.5M, and the business earns over 3M EBIT at that WC level. I had a company ready to issue LOI last week, but it fell through last night. So, I'm throwing in the towel. Anyone want to buy a factory in South America? LOL - need to keep a sense of humor...
Ouch. That is alot of sales. And what is the client saying? Is he just
I'm starting litigation against the client - they are trying to dispute the validity of the contract, which is ridiculous, but my claim is mostly consequential damages, and they have megabucks for defense...
I also found a couple more interested parties today, but it's now the 11th hour.
My business has suffered as well. I am not pumping out enough oil from my back yard as before. Those damn gas guzzling americans aren't buying my oil at a fair price of $150 a barrel!
Grrrrrrrr.....
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My business has suffered as well. I am not pumping out enough oil from my back yard as before. Those damn gas guzzling americans aren't buying my oil at a fair price of $150 a barrel!
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Really? 
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