This is crazy! This email came from the CEO today, as I pray for the direction of which company I am to work at.
John,
I would like nothing more than to come to an agreement with you this week, however not 15 minutes after you left the office last Thursday I took a virtual hit in the head with a 2×4: Wachovia, who we’ve been working with on the annual renewal of our line of credit, has frozen our line pending further review. We had a great relationship with a regional EVP with Wachovia, who left Wachovia earlier this year to start his own bank, so now we’re stuck dealing with the big corporate machine and the credit requirements are getting stricter. I don’t really have time to deal with this kind of BS, but I don’t have much choice.
I hope that we have some kind of positive word by the end of this week, but I’m not waiting on them. I’ve already called several bankers who have expressed interest in writing our line (including the EVP who left Wachovia, though his new bank won’t be in operation until Q1’08 at best). I’m sure you understand my position: having a balanced budget as we do, we obviously need the line to fund you and your efforts until you are generating cash. I will keep you informed of developments, and you are still more than welcome to sit in my office with me while I demo to Hard Rock on Wednesday.
Chuck