2008-10-01 — blownmortgage.com
"Valleywag has the story on Honeywell CEO Dave Cote’s email to all 122,000 employees encouraging them to support the housing bail out. Why you ask? Because Honeywell, like many other large firms, leverage the short-term commercial paper market to manage cash flow and operation expenses. This market has effectively stopped working and CEO’s like Cote (and GM’s Immelt) are hoping that they don’t have to tap credit lines to fund ops while the commercial paper market is frozen. "
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