Until and unless things drastically improve, I will be filing chapter 11 bankruptcy for a local factory in a year or less. The place is going fucking broke, plain and simple....The factory simply doesn't have the orders coming in or money to pay for suppliers and payroll. Tried my absolute best rebalancing the company's books, but still had no choice but to recommend reducing work hours and laying some people off. The only thing to be done is try to keep the place floating as long as possible, but.... I'm afraid the best I could offer the people laid off was a well written letter of recommendation and the promise that I recommend they be hired back as soon as possible if orders picked up.
The owner wanted to fight the state unemployment office on benefits, because it would cost the company money. I had some time convincing him that it was a losing battle (entirely true). If he had stuck to his guns and (stupidly) gone ahead with the fight, then I couldn't have even drafted the laid off employees the letters of recommendation. I understand that it costs you money, but damn 1.) you have no case, period, because they weren't fired for cause, 2.) the state will beat you senseless, and 3.) at some point these people didn't do anything wrong, why screw them over...?
Sometimes there really aren't good answers and I hate that. It makes me feel like I'm somehow not smart enough. I've done similar things before even as a clerk and managed to avoid laying off anyone. I can't find these individuals jobs elsewhere either.... I can't even negotiate a long term bulk purchase contract from suppliers to shore up funds. I fear I've exhausted my bag of tricks. Exactly 5,218 people work there on three shifts... currently....
God damn it brain, make the pieces fit....
Is the company in receivership or something? I'm having a hard time figuring out why you're being their accounting department...
Actually, my involvement isn't about acting as accounting department. The accounting department and comptroller have crunched the numbers and said "we're screwed," again. They crunch, account and report numbers, and that's really all. They typically don't know what on earth to do in these situations or how to fix it/if it can be fixed. In sum, our arrangement goes something like, accountant accounts, says we're screwed and I have usually recommended a way to fix it when asked. I come up with an idea, accountant and owner usually do it if it works (as opposed to sitting there being screwed with a viable option in front of them).
While lawyers have historically been business advisers/counselors, there are six primary reasons for me doing this. First, they have been with the firm since they incorporated decades ago and we have done so much for them that they trust us. Second, if company files for bankruptcy/goes under, then firm loses a large client. Third, gotta use that economics degree/accounting stuff for something. Fourth, when I put my mind to it, I wind up with odd but effective contractual and tactical solutions (bulk purchases, supplier branding on factory's finished product, splitting combined advertising cost with suppliers, hiring a cheaper independent trucking company to save on shipping, all sorts of shit really). Finally, I can and the firm bills for it.
Also, let's face it, most of the people I do stuff for, aren't rich and work at jobs like this factory. If those places go down, then my broader ability to get paid by criminal and other defendants goes down too. Plus, you know, sometimes I occasionally like the idea of making a small amount of money while not getting people fired from the horrible market conditions and who are we kidding, incompetence of people in general. [sigh]
Then of course, there's the real answer, my boss tells me to.
I am sad that I cannot come up with any answers....
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Topic: Things that made you sad today thread. (Read 9792100 times)