It is business and it is personal...
Anytime anyone says to you "It not personal, it's just business," you need to be prepared that this person is about to do or has done something that is borderline unethical or callously disrespectful to you. The two times I have heard this spoken to me, it has resulted in at best a broken trust and at worst, potential legal action against the speaker of those words.

It is very disheartening to me that some people out there believe that doing things in the name of business absolves them of any modicum of consideration or regard for the people and/or communities around them. Call me naive, but I still believe at the end of the day, your reputation and integrity is your business and chosing between doing good business and being a good person is a false dichotomy. If that is not the case and I need to screw over the other guy to get ahead in the marketplace, then I should just pack up my bags and do something else besides running a business because that is not what I'm about.