In so cyclical an industry as aviation, in which tiny changes in interest rates and fuel prices and macroeconomic conditions have a huge effect on the bottom line, VEP gave Borman a stunning management advantage. It turned his employees, in essence, into Eastern’s bankers, enabling him to borrow tens of millions of dollars from them—unsecured, not

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To update the company’s forecast for a newly hired employee, for example, someone on the finance team typically needs to send a series of emails across the finance and HR departments.