Rapid downward spiral
I listen to Classic FM radio which broadcasts four minute worth of news and weather forecast on the hour every hour. This morning they reported news of an imminent corporate collapse, the biggest in history.
It's the speed of the collapse that's the most amazing, one observer remarked.
There are two things that would speed up a downward spiral:
1- a trading company that stops trading: when nothing happens, everything negative starts to happen. Money has to be constantly moving for business to stay afloat.
2- loss of confidence and credibility: people stop trading with you, and you get back to point one.
It wasn't very long ago, that as children, we learned to climb the ladder to slide down the slide. It was hard work climbing up. Sliding down was easy and fast.
So it's hard work building a business and dead easy to lose it.
29 November 2001 Thursday