(Do Not Go to the Bank with a Problem)
Vignette: The Bank Letter
One morning, while sifting through my daily mail, I noticed a letter from my favorite bank manager. As the chief financial officer of a medium-sized business, my first reaction was that of surprise. Why would my bank, with which my company was doing business for quite some time, send me a letter? I opened the letter. To my further astonishment, my friendly bank manager with whom I had lunch just last week informed me that my company’s line of credit was reduced from $750,000 to $400,000. I had 2 weeks to comply, or I would lose my entire line of credit.
Why was this happening to me?
Of course, I knew that lately my company had quite ...