Abstract
The best way to avoid bankruptcy, or serious problems short of it is to be constantly aware that any company can go bankrupt. During the 1970s Lord Weinstock, of the General Electric Company Limited, was reportedly asked why GEC had such large cash balances. He replied, ‘because I don’t want to go bankrupt’. When one of the best managed companies in Europe, highly profitable and highly liquid, thinks in this way there is no excuse for any lesser company to do otherwise.
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© 1986 T.H. Donaldson
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Donaldson, T.H. (1986). Management Can Help or Hinder. In: How to Handle Problem Loans. Palgrave Macmillan, London. https://doi.org/10.1007/978-1-349-07740-3_16
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DOI: https://doi.org/10.1007/978-1-349-07740-3_16
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-07742-7
Online ISBN: 978-1-349-07740-3
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