The WSJ features a case study of Alfred Giammarino who took over as CFO at FairPoint Communications Inc. a month ago and "was promptly hit by the worst financial tsunami since the Great Depression."

"This is a period when you really can't take anything for granted," he said.

And he expects the challenges to grow as lenders fall by the wayside
or merge. Trying to get new lenders at this moment is futile, he said:
"Right now, we couldn't even open that conversation because banks
aren't lending."

Read the whole article here.