UU Credit

The National Bureau of Economic Research in Cambridge, Mass., determined a recession started in December 2007, and it’s already the longest in 26 years.As we start the new year, we have to deal with 2008 hangovers: rising unemployment claims, sluggish personal and corporate earnings, dismal motor-vehicle sales (good for buyers), falling [...]

The old business saw remains true: Cash, now as ever, is king.With borrowing still expensive and the economic outlook depressing, businesses are hoarding cash in all sorts of ways  by suspending dividend payments, contracting inventory, cutting 401(k) contributions and postponing planned capital expenditures.In earnings calls, news releases and media interviews, companies have been discussing [...]

The company issued to the former MIG shareholders secured promissory notes covering these payments, bearing interest at 7 percent per annum.The new agreement with Silicon Valley Bank extends the companys line of credit, which was originally due to expire in February 2009, through December 2010.
The line of credit is subject to a borrowing base equal [...]