Let me start by offering my sympathy to those who are about to lose their jobs at the Cash - as NCR was known to Dundonians of my generation when it was a dominant manufacturing presence in the city.
We should, of course, welcome the fact that this will not be complete closure. Some 450 jobs will be retained, including valuable R&D.
But that will come as little compensation to those in Dundee who are about to become the latest casualties in the recession. Real jobs, real families, real pain.
Longer term, I adhere to the view that Dundee is about to experience a revitalisation.
The universities, the arts, city centre regeneration all offer sources of optimism.
Let us simply hope that the city and its people keep their nerve - as they have had to do in the face of so many comparable setbacks in the past.
Dundee is frequently misunderstood. It is occasionally depicted as if it were some tyro on the Scottish stage, as if it were relatively new to the scene, as if its entire history could be defined by jute or the other two Js.
Utter nonsense. The city was granted its Royal Charter in 1191. My own school's origins date back to the 13th century.
The city's main church is medieval. Dundee is a proud old place. One reason why Dundee is so misrepresented is that so much of that ancient heritage was wilfully neglected and torn down by past generations.
The old Overgate, an Adam-designed Town House, the Royal Arch.
Apart from these self-inflicted wounds, Dundee has survived storm, famine, fire, invasion by Cromwellian troops - and United's temporary relegation to a lower league.
With political will and, more importantly, popular resilience, Dundee will survive this.