I work for a family business that has been around for 50 years. We specialize in packaging products. And in doing so, we have one of the few types of businesses out there that deal with nearly every consumable product. Because nearly every business uses some type of packaging product at some point before reaching the end user.
I've counted 12 specific companies on the S&P 500 and many other big names as well
Some of our top companies specialize in:
- Government and Public Safety Corps
- Mining Industries
- Airline Industries
- Carbide and Earth Works
- Industrial Power and Tooling
- Food Grade Packaging and Distribution
- Television and Electronic Manufacturers
- Healthy and Beauty products
- Computer component manufacturers
- 100's of mom and pop businesses as well
Basically our clientele are companies that cover a wide range of everyday products and their cash flow is at the lowest point in 50 years of business. 2008 cannot even compare in terms of past due balances. And 30 day term companies have clawed tooth and nail for 120 days, hoping to settle at 60.
Packaging is always an after thought unless you work in marketing. And because of this we see the brunt of companies liquidity problems. Usually by the time product packaging costs are due, the item or container is already out the door and with the end user. This creates the best case scenario in choosing "who not to pay" And for those unfamiliar with those tactics it's demonstrated by the controllers of money on how to immediately increase a businesses cash flow.. at least temporarily.
The economy is not just sick, it's in denial. The common person might be able to live paycheck to paycheck, but when large companies that sustain a healthy economy become this way - we have a serious threat to our standard of living.
At some point before the house of cards goes down, we will most likely go down first. And I'll be sure to let you all know if and when that does happen. Because my guess is it may come around the time of this coming election -- if they don't find a way to kick the can down the road one more time.