So while reading the sunday paper I came across two articles.
I am going to really boils these down to a simple explanation.
One was about a company that provides credit to a lot of mid sized retail type clothing manufactures. They cover the payments for supplies so the companies themselves don't have to wait 60-90 days for payment themselves. This company has filed for bankruptcy. So it could send a ripple effect through the manufacturing world.
The other was about Charter cable's bankruptcy. What stood out to me was the fact that they are 21 billion in debt. and that they are looking for the courts to erase 8 billion. WTF?
Why is it alright for businesses to run this way. In both cases if you handled your personal finances this way you would have been homeless long ago. How is it even possible to get 21 billion in debt? I truly can not understand that. And for that matter if you are a business and can't handle the rules of payment in the business world, then maybe you shouldn't be in business.
I freelance. Would I love to be paid the day after I send off an invoice? Hell yes. But it doesn't work like that. So what do I have to do? I have to organize my finances so I can know that I will be fine while waiting for payment.
It seems this country has gone crazy by living on credit. I think things need to fail. Smarter people will come around and provide those services that are truly needed.
I am sure I am over simplifying these matters. But that is what I think needs to happen.
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1 comment:
You are so right. I finally paid off the business loan, all the credit cards and am current on everything! No thank you note from the banker, by the way. I hate bankers. Why can't the government be run like small business...but then, that's another post for another day!
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