[firetoole]

So I found out yesterday that the company I work for is entering litigation due to the massive amount of money they owe people. (millions) So this is fun, now I have to find a new job just because they couldn't keep their accounting straight. On the plus side one of our customers promised to hire me for a month and then who knows after that. Just pisses me off because I have made them thousand and thousands of dollars and I know our company makes money hand over fist, they just never figured out how to pay the bill I guess.

 

[Angus]

Yep, its the same old story, big companies ans small companies alike do whatever they can to make a profit each quarter sometimes even if it means sacrificing the future, companies do this all the time, make money, spend or hide money, say there bankrupt, reform under bankruptcy protection or reopen under new name, keep old money and make more money.
we the workers are sent to slaughter like sacrificial cattle as we are replacable, we are the pawns of the almighty board and shareholders......

 

[MTB_Rob_NC]

So I found out yesterday that the company I work for is entering litigation due to the massive amount of money they owe people. (millions) So this is fun, now I have to find a new job just because they couldn't keep their accounting straight. On the plus side one of our customers promised to hire me for a month and then who knows after that. Just pisses me off because I have made them thousand and thousands of dollars and I know our company makes money hand over fist, they just never figured out how to pay the bill I guess.

You obviously have no idea what you are talking about. If they made money hand over fist they wouldnt be going bankrupt. Bankruptcy has little or nothing to do about keeping accounting straight and everything to do about having cash to pay your creditors.

Now get back to work!

 

[firetoole]

I've got their profit right here :nuts:

 

[MTB_Rob_NC]

we the workers are sent to slaughter like sacrificial cattle as we are replacable, we are the pawns of the almighty board and shareholders......

Actually in Bankruptcy the workers are actually a protected class of stakeholders, whereas the shareholders are the LAST on the totem pole.


Sounds like you have a clue

 

[firetoole]

You obviously have no idea what you are talking about. If they made money hand over fist they wouldnt be going bankrupt. Bankruptcy has little or nothing to do about keeping accounting straight and everything to do about having cash to pay your creditors.

Now get back to work!

Actually I do, see I work for a contract purchasing company we buy things for our clients then we pay the bills and then the client pays us back plus a fee. Well we are talking about 105 different Facilities across the us mine alone does like 1.4 Mil net a month. When all the suppliers gang up and default because you haven't been paying your bill then you go bankrupt.

 

[MTB_Rob_NC]

Actually I do, see I work for a contract purchasing company we buy things for our clients then we pay the bills and then the client pays us back plus a fee. Well we are talking about 105 different Facilities across the us mine alone does like 1.4 Mil net a month. When all the suppliers gang up and default because you haven't been paying your bill then you go bankrupt.

Ya ok, thats why there are people that run companies and people that work for them.

What you are talking about is called cash flow. The fact that you do 1.4 million in sales (or purchasing for others) a month is irrelevant if they cannot manage the accounts receivable cash flow.

Your suppliers didn't default, more then likely, the folks you purchased for are slow to pay, so the company YOU work for is still paying for the supplies they purchased for others, but have yet to collect from the end user. It is really not a difficult concept.

Now go get me a set of cordless tools and bill them to someone else's account

 

[BillT]

If you haven't been paying your bills, it is because you have no cash. Cash flow in many instances is much more important than revenue.

 

[firetoole]

Ya ok, thats why there are people that run companies and people that work for them.

What you are talking about is called cash flow. The fact that you do 1.4 million in sales (or purchasing for others) a month is irrelevant if they cannot manage the accounts receivable cash flow.

Your suppliers didn't default, more then likely, the folks you purchased for are slow to pay, so the company YOU work for is still paying for the supplies they purchased for others, but have yet to collect from the end user. It is really not a difficult concept.

Now go get me a set of cordless tools and bill them to someone else's account

jeez man way to kick me when I'm down just for that no tools for you

 

[firetoole]

BillT gets a drill

 

[MTB_Rob_NC]

jeez man way to kick me when I'm down just for that no tools for you

Sorry its early, and its been raining ALL week, so no bike riding for me!

So I am a little grouchy.

Hopefully they will be able to straighten the mess out and you can keep your job. If not you could always pilfer the place on your last day and sell some crap on Ebay

 

[firetoole]

today is my last day and I have been backing up all sorts of inventory files and order history reports so when they shut the server down I will have leverage with the company I have been purchasing for

 

[MTB_Rob_NC]

Dude I said sorry and gave indepth explanations. Bill said 1 sentence and got a drill. Can I at least get one of those cheesy cordless screwdrivers???

 

[crash test]

Alot of companies largest bill is payroll. Maybe they, the top exec's, weren't willing to take a paycut in order to pay the other bills...

Slow paying customers kill companies. They are hurting us pretty bad right now..

 

[golgiaparatus]

I've got their profit right here :nuts:

LOL! Classic use of |nuts| smiley right there

 

[blt2ride]

So I found out yesterday that the company I work for is entering litigation due to the massive amount of money they owe people. (millions) So this is fun, now I have to find a new job just because they couldn't keep their accounting straight. On the plus side one of our customers promised to hire me for a month and then who knows after that. Just pisses me off because I have made them thousand and thousands of dollars and I know our company makes money hand over fist, they just never figured out how to pay the bill I guess.

Sorry to hear that...I'm sure everything will workout just fine for you... Keep your head up...

 

[stinkyboy]

Stick N move, There's no growth without change, blah, blah, blah...

Good luck dude!

 

[dh girlie]

Man I love my boring, mundane, un-challenging job with the city! No worries on stuff like that!

 

[firetoole]

yea I don't know what I would do If I didn't work par time for the city Fire Dept. nothing like getting paid to carry a pager around

 

[ekozy39]

If you haven't been paying your bills, it is because you have no cash. Cash flow in many instances is much more important than revenue.

You're assuming they have no cash. Adelphia, and Tyco had great revenue and cash flow, but when the officers rip you off for millions you gotta problem. They had great cash flow into their pockets..