Tech Reacts to the Nightmare on Wall Street

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    Channel Insider Staff

    | Posted 2008-09-30
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Mark E Brown
CEO
Total Networking Solutions

"I couldn’t believe what happened [September 29].  With our bank (Wachovia) being bought by Citigroup and then the failed bailout.  WOW." 

"…It hurts us more than I can see and I really don’t want to see. Our largest account has already told us that they are freezing the IT purchases unless they are in an emergency situation.  That hurts when we are looking about 100K in purchases yearly (not counting the Managed Services or Network Services"

"…We've received word from multiple accounts that they are freezing their purchasing.  This is normally between $20,000 and $30,000 a month.

"…I have already reduced our work force from 11 down to 4.  I am doing the technical support as well as selling.

"…I have already been approached about selling Total Networking Solutions LLC, but I have declined because I honestly believe that the economy will be on the road to recovery in about 3 months.  If I have to go down to just 2 people, I will do that to stay in business."
 
 

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