Good thread. One of the problems I'm hearing about is the inability of small companies to routinely borrow funds to pay salaries etc. This really sounds like a poor way to run a business to me. What happened to the profits from all the past good years? Must have been pulled out/paid to owner so he could buy his lakefront McMansion and GFBL. We need more responsible company management, large and small, not relying on someone elses money(credit) all the time.
There is an independent gas station near me that has gone out of business twice in the last two years. It's now back in operation selling gas at $3.36! (In MASS) on a cash basis only. He either could not get credit for the operation, or chose to bypass the enormous cost of dealing in credit cards all day. Yes, it takes a good deal of money (credit) to get going, but credit should not be necessary for continued responsible operation. Maybe we need to get back on a cash basis for routine stuff and cut up the credit cards!
