But it also raises the question of how much faith we can put in the public utterances of chief executives and chairmen about the future of their companies.

Indesit has been saying for a number of months that its manufacturing centre was secure. Indeed, over the last three years, it has even invested £8 million into it. All to no avail, as last week's events proved.

If there is an upside to this sorry saga, it is that Indesit still intends to maintain its administrative headquarters in Peterborough where it employs 1,000 people.

And the firm has pledged that it remains committed to staying in Peterborough. So that's okay then. Or is it?

The trouble is, the business scene is not fixed. Just ask Prime Minister Gordon Brown. I bet in his heart of hearts, he just can't believe the utter mess the economy has become since he moved from 11 Downing Street into the premises next door.

He spent 10 years as Chancellor presiding over an economy that became a byword for stability, only for that same economy to go into a recession-bound nosedive within moments of him taking over as PM. Now that's unlucky.

The truth is that Indesit, just like any company here in Peterborough, is fully committed to the city – until it isn't.

Changes in demand for products, technology, commodity prices and politics can alter the economic picture and businesses have to react accordingly or go under.

The most the movers and shakers of Peterborough can do is ensure the city remains an attractive place in which to do business. That means making sure we have the right employment land available, the necessary infrastructure is in place, planning decisions are executed efficiently, the labourforce has the right skills and local taxes are reasonably priced.