Workout Assumption
You went bankrupt. Or at least Chapter 7. You were knocking on The Grim Reaper's door, but she didn't answer...yet.
A judge allowed the $300 million that was due next week in full to be extended to be paid 5 years from now, albeit moving your interest rate from 4.5% to 7%. You are in the process of working out the problems from your would-be bankruptcy, liquidity squeeze, cash dash paucity or whatever other friendlier-sounding term you want to call it.
But in the process, you assume that the Union will play ball, and instead of forcing you to have 73 workers present, you'll then only need the actually-required 52 workers. Your suppliers will extend payments from 30 days to 90. Your distributors will give you, for the next 2 years, 35% of the gross instead of 30%. With all of these workout assumptions, you hope and pray that something good will come of all of this and you'll remain...solvent.
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non recipients of fancy corporate business cards those of us who choose to [Business card for Brett Corporate]
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is a direct conduit to the IRS holding out their arm to shake your hand and [The form 1099s are sent to the IRS]
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