First signs of the credit crunch

[airdvr 210]

Big meeting yesterday. Corporate conference call detailing changes in the credit structure we offer.

This is bad. Credit is getting really tight. The ripple effect could be staggerng.

Please don't dent the planet.

Destinations by Roxanne

[shropshire 0]

Travel has been put on hold at our company.... Companies are tightening their belts.

(.)Y(.)
Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome

[Gawain 0]

Go to your local bank and see if you get the same story. Out of over 8000 banks, the majority of this "freeze" seems to be between the 9 or 10 biggest banks.

Yet if you're in a part of that system, it is the decisions being made by your corporate leadership that is contributing to the crunch.

Not to worry...the government wants to buy stock...

So I try and I scream and I beg and I sigh
Just to prove I'm alive, and it's alright
'Cause tonight there's a way I'll make light of my treacherous life
Make light!

[lawrocket 3]

I've been considering taking about $60k of our line of credit out in case we won't be able to access it if we need it.

My wife is hotter than your wife.

[Andy9o8 2]

I've been thinking - there are thousands of this year's college students & their parents who are heaving huge sighs of relief that this happened after the semester had already started, and their student loans had already been approved & disbursed. If this shit had hit the fan 2 months earlier, a lot of those students, who were counting on the loans to attend, might have been screwed. For their sakes, hopefully this will loosen up in time for the next round of loans for Fall '09.

[kelpdiver 2]

Quote

I've been considering taking about $60k of our line of credit out in case we won't be able to access it if we need it.

If the cost isn't onerous, may be wise strategy. I'm reading many reports of credit lines being reduced as the lendors reevaluate the value of the collateral.

[lawrocket 3]

Yeah. We just did it. We're taking $45k and putting it into a CD and keeping $15k on reserve.

It'll come out about even for us.

My wife is hotter than your wife.

[shropshire 0]

Sorry for being a daft foreigner .... What's a CD?

(.)Y(.)
Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome

[JackC 0]

Certificate of Deposit. Fixed term, fixed interest, savings bond.

[shropshire 0]

Cheers.

(.)Y(.)
Chivalry is not dead; it only sleeps for want of work to do. - Jerome K Jerome