State of Uptime, November 2009

I've heard a few rumors recently regarding the state of the company and thought it would be a good time to share some thoughts and facts.

First of all, even though we are in fact low on cash, we are still a healthy corporation. I've taken some steps to remedy that problem by bringing some money from home, which I resisted for quite awhile. One thing which I resisted earlier in the year was an offer by Bank of America to give us a line of credit. Initially they offered one to the corporation only, but upon reading the fine print found out that I was personally liable should the corporation default. It even mentioned that my children and their children would be liable, should the corporation default!!!

When you see shops having auctions, it was probably because they got in bed with the likes of BofA.

Anyway, as a result, we are low on cash. This is, as you can imagine, not caused by my or your incompetence, but because our customers are low on work.

Please rest assured that we plan to stay in business, and are listening to our customers and employees on how to solve the problem of too little work and cash.

In the meantime, I encourage your suggestions and encourage you to have a positive attitude around our customers. One sure way to discourage someone from buying a quarter million dollar rebuild project from us is to moan about the health of the company to them.

Hang in there :)
Warren