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To: Robert Graham who wrote (1476)	2/7/1998 12:41:00 AM
From: Harry Simpson	Read Replies (1) \| Respond to of 164684

Thanks for your contributions Bob. I for one look forward to your insights and related experiences. Harry

To: Robert Graham who wrote (1476)	2/8/1998 12:48:00 AM
From: Walter High	Read Replies (1) \| Respond to of 164684

Colleagues: In support of Bob Graham's point about "renegotiating" the terms of an accounts payable amount, let's look at it in a slightly different way. Don't think of it as a company defaulting on a portion of its payment; think of it as a negotiation about future business. Suppose company "A" owes company "B" $1,000,000 for goods delivered over the past six months. Company "A" goes to company "B" and says, our business is growing rapidly; would you accept $800,000 to clear the account in return for us guaranteeing you $1,250,000 worth of purchases over the next six months? If not, we will pay you the $1,000,000 we owe, but we will also look to widen our netowrk of suppliers and may spend only $500,000 with you over the next six months and $750,000 with your competitors. If I am interpreting Mr. Graham correctly, I believe it is this kind of negotiation he refers to in his posts. This is clearly not defaulting, just using the leverage of future purchases to get a break on current debts. Walter High