A2: Business

Richard Kurtz, CEO of Ann Arbor-based Advanced Photonix, is interviewed for a Bloomberg News article on how companies are being affected by the current credit crisis. Kurtz said the firm was notified by Fifth Third Bancorp that it would end their line of credit, but they were able to secure another credit line from PrivateBank Corp. “We ended up going out and talking to the same banks we had spoken to previously, who had all given us term sheets, and found them very reluctant.” [Source]