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Wednesday, March 4, 2009

Accounting 101

The lucky folks who inhabit the A & S Council evidently got some rather interesting insights into our financial difficulties here at the Bank of Toledo. First they were told that the financial problems are not the result of the state taking money away, and are not the result of any revenue stream drying up. No, it was something else entirely. I am sure you're on the edge of your chair wondering what possibly could be so dramatic that Jake would ask people to take an unpaid leave????? Well, it seems previous administrations didn't handle the money well. Yep that's the excuse. Wow, so we're going to blame Dan Johnson.

It reminds Dr. Tinkle of the three envelopes story. A new CEO has just taken over the firm. The outgoing CEO says "I left three envelopes in the desk drawer. Each time you run into trouble, read one." So about a year goes by and things are getting difficult so the new CEO takes out the first envelope and reads the letter. It says, "blame me." He then blames the troubles on the previous leadership. Another couple of months go by and trouble reappears. He takes out the second envelope and reads the letter. It says, "Reorganize." He does and it works for a while. A few more months go by, trouble reappears and he takes out the third envelope and reads it. It says, "Get three envelopes." We have seen the attempts at both reorganizing and blaming previous administrations. It's probably time for our glorious leader to get three envelopes.

I suggest you might send them to him as a courtesy.

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