Page 128 - A Life - my Live - my path

Comment: errors or mistakes
In the HORIZON ICT story, I've picked out a few errors,
and worse still, a few mistakes.
I was going through a pleasant period of strong growth.
I was used to working with just one bank, BBL. When BBL
let me down, given my situation, I had no way of obtaining
credit from another bank.
I should have known that banks lend easily to those who
have money but get going when the going gets tough.
The decision to finance the development of HI-
Distribution for 9 months with several consultants' own
funds was a major error, if not a major mistake. At a time
when cash flow and the general situation were very good,
I should have requested an "investment" line of credit and

kept the cash for day-to-day management. Such a request
would certainly have been accepted and would have
enabled me to keep my company with a very positive
profile.

Comment: balance sheet published on 18 January
that year
I worked at the IRE from 1975 to 1988. During this period,
general management would receive a dashboard at least 3
months late. In practice, they received the situation for the
first 3 months of the year (January-February-March) around
July. Managing a company under these conditions is no
easy feat.
When I started work as Managing Director of CASE line,
part of the IBS Group (which was listed on the 2nd Stockholm

116