So i got a text from my old boss at ABD this morning saying that i should give him a call when i can.
i used to do all the bookkeeping for autobahn designs, about a year to the day, so i wasn't sure what it was about. when i talked to Jason, the owner, he tells me how they had to close the business down on Friday. i was really shocked to hear that it was closing down because this is a company that had been in business for ...well... i don't know how many years exactly (i think close to 14 years) but they were well established in the car industry. i remember in high school seeing abd stickers and parts on vw's and Audi's on the road all the time. everything is in Jason's name he is going to lose just about everything, in his name, to the bank. see they had a couple of lines of credit with the bank and instead of getting a annual renewal from the bank that they usually get every year, they got a bill.
it seems with the way the economy is going (and since the government is willing to bail out all the banks) the bank decided to end those lines of credit that they depended on. you can expect to see this happening with a lot of small businesses these days. when the business, that the banks gave these loans to, cant repay them the government will pay the bank the money that they "lost". mean while since abd cant pay the bank back Jason has to file for bankruptcy.
I'm not saying this is all the government's fault, but i do think that if the banks had not been given an easy out this wouldn't be happening as much as it is right now.
its an all around crappy situation to say the least.

to lighten the mood a bit here are a few pics i took off my cell:

Matt's new mxpx tattoo from the talented Geoffrey

eat that sugar packet up loser!

flame wrist tattoo.
really, BofA?

1 comment:

Seaner said...

I want an MxPx tattoo, tell Geoff to give me one!

Related Posts with Thumbnails