I use the Mac Terminal with a hand full of tabs each assigned to a different working directory. I have configured it to open new windows with the same working directory. Nevertheless, when I am quitting Terminal, and restart it it rebuilds all the tabs, their names, even shows me the last output in the window but stays in the user home directory and does not restore the latest working directory of each tab.

What am I doing wrong? Can this be caused by some setting in the `~/.bash_profile`?