Boards of Directors have made many serious decisions this year. We're going to assume they were well informed, personally competent, and take their fiduciary duties seriously. We know at times boards can lose their way, collectively be incompetent and so forth. In these cases, we often see bankruptcies.

Yet, for now and this year, we'll assume they are acting rationally, using all the best data available.

A lot of antique machinery has been permanently shut down this year. In some cases, I would say this machinery and these mills have been allowed to run long beyond their useful lives. This has not been charity nor nostalgia, they have simply been worked nearly to death, like the old horse, Ginger, in the children's book, "Black Beauty."

The employees in these mills have been too close to them to see the permanent decay and obsolescence. The employees seem to think customers appear for whatever you make and that they will pay a price that will be profitable to the company.

If there is any fault to be found here, boards could insist that management keep employees informed on the state of the business monthly. However, I struggle with even this statement, for it may not serve the purposes of the company nor aid the employees in any way as they plan for their lives without their current employment.

So, I end up muddled on the right communications posture to take. Best wishes to all as all go forward.

Jim Thompson is CEO of Paperitalo Publications.