......If these companies were run by people with souls, they would give 3-4 months notice .....
That is a ridiculous comment from one who obviously knows nothing about business. In mandates a perfect vision of the future and absolute certainty of the vision.
Business is business. They hung on till the credit ran out. There is the message that the line was withdrawn, but the truth is that it was likely drawn down to nothing.
If the workers had a brain, they would have bailed 3 months ago.
Gosh, I seem to have run one at a nice profit for 20 years. And I do give people extra time to pay when confronted with misfortunes beyond their control. Just blind, dumb luck I guess. And the comment “In mandates a perfect vision of the future and absolute certainty of the vision” is perplexing since no one has such attributes.
A lot of people payed down debt last month,
http://money.cnn.com/2008/10/28/pf/money_habits/index.htm:
however this is an unfortunate time of year to contract someone’s credit without warning.