Archive for October, 2008
“Nobody makes a greater mistake than he who does nothing because he could only do a little.” — Edmund Burke
For years the BIG/GAS theory has held sway in America. BIG/GAS, which stands for “Business Is Great/Government and Academics are Stupid,” lionizes the wisdom of the marketplace, disparages the theoretical as irrelevant, extols the virtues of trusting one’s gut, and demonizes any and all governmental action or oversight as inefficient, intrusive, and pointless. The truth […]
ManagementSpeak: We will use this opportunity to increase efficiency and add value to our company and shareholders. Translation: We will use this opportunity to layoff as many employees as we possibly can. KJR Club member David Reed spotted yet another euphemism for staff reductions.
A brief history of finance: In the beginning, all transactions were barter transactions. Then we invented money to act as a proxy for physical goods and services. Money simplified barter. Next came credit, which smoothed out cash flows so businesses and consumers could buy goods and services with money they didn’t have at the moment, […]
ManagementSpeak: We need to leverage synergies and optimize the deployment of our people to further streamline operations. Translation: We’re going to lay off a lot of staff, and take this as an opportunity to terminate some executives whose main contribution is to occupy space. This week’s anonymous contributor gave us a synergistic translation leading to […]
If you’re a CIO and aren’t tightening your organizational belt right about now, and I had to bet whether you work in (1) a growing, profitable company; or (2) a different solar system, I’d put my money on (2). IT can’t tighten its belt in isolation. The enterprise needs an integrated plan. As CIO you […]
ManagementSpeak: If it were easy, we wouldn’t need you. Translation: Under the circumstances, I guess we really don’t need me. Under the circumstances we need more KJR Club members like Jim Baska, who showed an acute ear this week.
At least a dozen different people have, in correspondence, endorsed an alternative to bailing out AIG: Instead we’ll divide the $85 billion evenly among the 200 million adult U.S. citizens, giving each of us $425 thousand. Other than the misplaced decimal point this would be a fine idea: The correct division of spoils is $425. […]