Never had debt in their history, until this year. I think it was incurred to pay the overpromised ESOT payments.
Old board fired, new accountants hired. Valuation down. On the bright side, sales are up for the first year in quite a few. The photography business isn't what it used to be. Most of the players are gone except for Big Photography in Eden Prairie.
I was bummed for a week until I could concentrate on the positives. I'm out of Minnesota. I will stay out of Minnesota. Probably Cedar Rapids. Big enough to have the stuff I love, small enough to not have the dysfunction setting into the Twin Cities. I hate what Minnesota is turning into.
I only have to work part time, or temp, or anything I want. No pressure for that Good Job. I just have to halt the drain on the savings. It's only a third haircut. I worked with an engineer in his 60's, who had to start work again because his previous company went bankrupt, leaving his nest egg at zero. Then there are the Enron people who also lost everything. Then I look at so many who have no savings and will never be able to retire. I don't have it so bad.
But @#$%! To be there and to realize I'm not there after all. Kind of sucks.