It's December 1999. You are a CEO of a noncompliant company.greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
It's December 1999. You are a CEO of a noncompliant company. You know that if you let your computers roll over into Jan 1 your company will be toast. What will you do?
-- Tomcat (firstname.lastname@example.org), April 07, 1999
Nothing. You would have bailed by the end of October.
-- Incredulous (email@example.com), April 07, 1999.
GOT T.P. and hemorrhoidal cream? oooooooooooh.
-- && (&&@&&.&), April 08, 1999.
1) Sell short.
2) Publicly announce that I am selling short.
3) Collect my golden parachute when the board fires me.
-- GA Russell (firstname.lastname@example.org), April 08, 1999.
Hi Tomcat. I am the owner of a medium sized business in the SouthEast. We provide home health care therefor my business is primarily people based and not sales or manufacturing. Am I compliant?? You bet!! Are my suppliers or the federal and state agencies that send me money so I can pay my employees?? Not a chance!!! What do I do? Yes, I'm compliant. No, I don't expect my business to survive. How can you meet a payroll in excess of $11,000.00 per week when the state boys tell you off the record to expect not getting a check for 45 to 90 days?? Even in my dreams, I don't have that kind of money. I mean---good grief!! That's needing a bank draw in excess of probably 100-150K.
I will continue to operate as I have. So will the hypothetical executive in your post. Fix on Failure. At least a CEO has the option of resigning at Christmas. I'll quit poormouthing now and answer your question.
IF your CEO has not had the good sense to get out of Dodge prior to 1/1/2000, he deserves what he gets. Probably a lawsuit (or lynching) from his stockholders. If he is like me, he will try his best to make sure his contingency plans include some way to bill, some way to track his 'stuff' (parts, sales, marbles..whatever). In my case, although my company is 100% compliant, the purchasers of my 'product' are not therefore I (and 60+ employees) will have to work together and try our best to stay afloat. WE WILL SURVIVE IF THE WORLD WILL ACCOMODATE US BY DOING THE SAME!!
(Never underestimate the power of human resiliance).
-- Lobo (email@example.com), April 08, 1999.
"Never underestimate the power of resilence" Well stated, Lobo
-- Leslie (***@***.net), April 08, 1999.
LOBO Are you now involved in a group purchase program for your employees, so that they will have the food, etc to be able to get by on reduced checks and promisory notes??
Consider it a tax deductible (if you have a good corp lawyer) benefit.
-- Chuck, a night driver (firstname.lastname@example.org), April 08, 1999.
I am also the owner/CEO of a mid sized company in the Pacific NW. We provide IT support to Fortune 30 companies is 3 states. We are ready to rollover into 2000. The companies we support are ready as well. But the problem is that if no one is buying these companies products they don't have revunue, they can't pay us, I can't pay my staff, etc. I've got a large credit line to tap but it won't last forever, that's if my bank is functioning!! :) So take my company, Lobo's company and multiply by X number of companys in this country in the same boat and you'll understand why I worry a lot at night.
I'll have some cash on hand to make payroll for a month if I need to. But if the "Big Boys" we're supporting have problems you can bet we'll be in trouble real quick. Most of my staff are GI's so nobody is in the dark about all of this. I lay my cards on the table with everybody and we brainstorm how we can ride this out if we need to. But again there is only so long we can hang on and then the door gets locked, the lights turned out and we all go home.
I hope to hell that this rollover is a very minor disturbance because I've got 58 people and their families counting on me and this company.
a worried boss.....
-- owner (email@example.com), April 08, 1999.
Lobo - I'm sure glad I don't work fo' you. $11,000 / 60 = $183 per employee (average) per week.
-- David (C.D@I.N), April 08, 1999.
David..most of my aides work around the hours their kids are in school. To translate this, this means quite a few (40%) are part time. Not a bad job. They work around the school schedules and don't have to pay day care or baby sitters. They like it, anyway. By the way, that was the NET payroll...still have taxes due on top of that from withholding, SS etc.
Chuck..One of the side benefits of this company is a membership in Sam's if the employee wants it. We also are working with the GI employees and quietly trying to educate the rest without 'preaching'. You might call this enlightened self interest. The more I can do for them now, maybe the more they will listen to me later when I need their help. Sounds cynical, I know. However, this is a case where if I try now, who knows, maybe I won't need their help later...I hope. At least I can look in the mirror without flinching.
-- Lobo (firstname.lastname@example.org), April 09, 1999.