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They left at 11am because they realized how bad the problem was and just gave up? Or left at 11am as a normal thing (e.g. before they noticed the problem) ?

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My understanding is that by 11am Knight was clearly bankrupt, so there was no further point in staying at the office.

I think he meant in the sense that nothing could be done. You might as well go home have a drink and prep that resume.

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