Insolvency lawyers discuss how this recession is different:
Aubrey Kauffman of Fasken Martineau Dumoulin in Toronto observes that “the key departure from previous downturns is that potential purchasers don’t have access to financing to buy businesses in distress — even if these businesses are fundamentally sound.” [...]
“Other downturns have been more focused,” Mr. Kauffman says. “We’ve [...]
Arnold Goldstein’s books on small business are pragmatic and tactical. I was able to locate a copy of his out-of-print 1983 book How to Save Your Business. He’s got some very good tips which I will be passing along here.
Here are excerpts from The Care and Feeding of Creditors:
Creditors head my list of culprits who [...]
Today’s WSJ column by Meredith Whitney is must reading for any business that depends on credit cards or has customers dependent on credit cards. Armed with statistics, Whitney predicts trouble ahead as credit card companies aggressively reduce credit lines to limit their exposure.
Currently, there is roughly $5 trillion in credit-card lines outstanding in the U.S….My [...]
