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Article: Cutting your customer off; Big-volume clients look good, but they can deliver disaster to unprepared entrepreneurs.(Brief Article)
- Article from:
- Crain's Chicago Business
- Article date:
- April 8, 2002
- Author:
CopyrightCOPYRIGHT 2002 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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As Hugh S. Scott vacationed, executives at Calumet Armature & Electric Co. packaged a $4.5-million bid to repair electric transit motors like those Calumet makes and rebuilds.
What a surprise for Mr. Scott, the general manager and principal at the Riverdale company.
Months later, Mr. Scott discovered the deal he never wanted to do, along with loan documents and contracts forged with his name.
``When this bid was submitted, I was on my 20th anniversary cruise with my wife,'' recalls Mr. Scott. ``I told the sales manager and CFO not to bid it. They bid it anyway. A contract like that sounds great, but if you don't make money doing it, what good is ...